Towards Healthcare
Cancer Biomarkers Market Business Expansion & Demand by 2034

Cancer Biomarkers Market Size, Trends & 12.73% CAGR Growth

Cancer biomarkers play a crucial role in healthcare by aiding disease diagnosis, prognosis, therapy response, and personalized medicine. Advances in molecular biology have improved the accuracy of tumor biomarker detection, enhancing patient outcomes. Recent initiatives include BCRF's $70.3M investment in breast cancer research and Pfizer’s $15M partnership with ACS to reduce treatment disparities in underserved U.S. communities.

The global cancer biomarkers market was estimated at US$ 30.39 billion in 2023 and is projected to grow to US$ 113.54 billion by 2034, rising at a compound annual growth rate (CAGR) of 12.73% from 2024 to 2034. The advancement in technology and growing integration of AI in R&D and other aspects of oncology is increasing the growth of the market.

Cancer Biomarkers Market Revenue 2023 - 2034

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Cancer Biomarkers Market Overview

Because they offer important insights into illness diagnosis, prognosis, response to therapy, and tailored medicine, biomarkers are essential in the healthcare industry. In particular, developments in molecular biology technologies created for the detection of tumor biomarkers have greatly advanced personalized medicine and improved the outcomes for cancer patients. Over the past few decades, there has been a steady advancement in the exploration and discovery of novel, sensitive, specific, and accurate tumor biomarkers.

  • In September 2024, the Breast Cancer Research Foundation (BCRF) invested $70.3 million, the largest yearly program in the organization's 31-year history, to assist over 260 scientists at top academic and medical institutions in 15 countries.
  • In February 2024, Pfizer Inc. and the American Cancer Society (ACS) announced the start of "Change the Odds: Uniting to Improve Cancer Outcomes™," a three-year program aimed at closing the disparity in cancer treatment. The program seeks to enhance health outcomes in medically underserved areas in the United States with $15 million in Pfizer support.

Rising Investments in Research & Development

The cost of developing biomarkers for cancer is rising steadily. Companies in the pharmaceutical and research industries are looking for new biomarkers to increase their ability to diagnose and treat patients. Research on cancer biomarkers received USD 2.8 billion in fiscal year 2023, a 15% increase, according to the National Institutes of Health (NIH).

Cancer Biomarkers Market Challenge: Funding Recessions

Funding recessions may have an impact on investments in cancer biomarker research, causing R&D (Research and Development) operations to be delayed or scaled back. Both businesses and research institutions may be impacted, leading to budget cuts that restrict funding for creating novel cancer biomarkers or enhancing current tests.

Regional Insights

North America dominated the cancer biomarkers market in 2023.

Over the course of the forecast period, factors, including the increasing incidence of cancer and the actions of major market players, are anticipated to propel market growth. The U.S. has seen a sharp rise in the number of cancer sufferers. Breast cancer may strike both men and women. However, breast cancer is quite uncommon in men and typically occurs in women. In March 2022, there will likely be 51,400 new cases of non-invasive (in situ) breast cancer and 287,850 new cases of invasive breast cancer found in women in the United States, according to Breastcancer.org. It is anticipated that the growing number of cancer cases will improve the utilization of cancer biomarkers for diagnosis, propelling the market for cancer biomarkers in North America.

For instance,

  • Approximately 900 grants totaling nearly $580 million were given by DCCPS in fiscal year 2023 to support work in the US and abroad that aims to improve the quality of life for cancer survivors and lower the risk, incidence, and mortality from cancer. The SEER Program is one of the $95 million in contracts that the division has financed.

Throughout its long history, the Canadian Cancer Society has contributed to advancements in cancer prevention, diagnosis, treatment, and living with and beyond the disease. The group spent $44.7 million on cancer research and innovation initiatives in 2023.

Asia Pacific is expected to grow at the fastest rate during the forecast period.

The Asia Pacific area has become the most advantageous regional cancer biomarkers market firm worldwide due to the increasing incidence of various cancer kinds. Due to the increased desire for improved cancer diagnosis and therapies, this area has seen significant expenditures in oncology research, which has increased demand for cancer biomarkers. For cancer biomarker suppliers operating in this area, India, China, and Japan are expected to be the top three markets. In addition, it is anticipated that this area will eventually draw a large number of cancer biomarker firms due to its easier regulatory clearances than North America and Europe.

Affordable cancer treatments will be the main focus of the five-year India-UK Cancer Research Initiative, a cooperative bilateral research project between Cancer Research UK (CRUK) and the Department of Biotechnology, Ministry of Science & Technology, India. For this five-year project, CRUK and DBT will each provide £5 million, and they will look for additional money from other possible partners. The Department of Biotechnology (DBT) in India and Cancer Research UK are planning to start a £10 million bilateral research project that would concentrate on low-cost cancer treatment methods.

Segmental Insights

By type, the breast cancer segment held the major share of the cancer biomarkers market in 2023. In 2020, there were more than 2.3 million new instances of breast cancer and 685,000 fatalities. It is estimated that the number of new cases and annual deaths from breast cancer will reach over 3 million by 2040 due to population growth and aging alone.

By biomolecule, the genetic biomarkers segment dominated the market in 2023. Genetic biomarkers are used as a therapeutic guide to help patients choose the best course of treatment. Targeted medicines, which directly target the molecular processes implicated in cancer, are beneficial for patients with certain genetic alterations.

By biomolecule, the epigenetics segment is estimated to grow at the fastest rate during the forecast period. One of the characteristics of cancer is a global shift in the epigenetic landscape. The potential subject of epigenetic therapy has emerged as a result of the reversible nature of epigenetic aberrations. The FDA has approved three epigenetic medications for the treatment of cancer, indicating that this discipline is already making progress.

By application, the diagnostics segment accounted for dominating the cancer biomarkers market in 2023. Since they may be used to detect and comprehend the risk of developing cancer and the underlying causes, diagnose a tumor early, track the course of the illness, and assess the efficacy of treatment resistance, biomarkers are essential. It is anticipated that biomarkers will become increasingly more important in the future for the diagnosis, treatment, and prevention of cancer.

By application, the personalized medicine segment is estimated to grow at the fastest rate during the forecast period. Because biomarkers allow oncologists to customize therapies based on the distinct molecular profile of each patient's tumor, personalized medicine marks a paradigm shift and a turning point in the management of cancer.

By technology, the imaging technologies segment held the major share of the cancer biomarkers market in 2023. In oncology, imaging biomarkers (IBs) and biospecimen-derived biomarkers are widely used. The healthcare industry often uses a large number of IBs. IBs offer easily accessible, affordable, non-invasive methods for screening, tumor detection, and patient serial monitoring, which includes evaluating treatment response and spotting side effects. IBs may be used to map the geographic variability inside tumors, follow a specific tumor over time, and independently assess many lesions within a single person.

By technology, the OMICS segment is estimated to grow at the fastest rate in the cancer biomarkers market during 2024-2034. Many potential biomarkers have been quickly found in recent years thanks to the application of high-throughput omics technology. High throughput methods known as omics technologies enable the collection of vast quantities of information on a particular class of molecules in a single experiment. Healthcare is getting closer to the reality of precision medicine thanks to the advancements in technology that support these omics technologies.

Top Companies in the Cancer Biomarkers Market

  • Abbott
  • Sino Biological Inc
  • Hologic, Inc
  • Agilent Technologies
  • Merck & Co. Inc
  • F. Hoffmann-La Roche AG
  • Illumina, Inc.
  • Affymetrix Inc
  • Thermo Fisher Scientific Inc
  • QIAGEN

Cancer Biomarkers Market Companies

Recent Announcements by Industry Leaders

In November 2024, to transform cancer research and care through ethical AI, the Cancer AI Alliance brings together leading cancer centers and AI experts. CAIA is coordinated by the Fred Hutch Cancer Center with assistance from AWS, Deloitte, Microsoft, and NVIDIA, totaling more than $40 million.

Recent Developments in the Cancer Biomarkers Market

  • In August 2024, in order to quickly match patients with targeted medicines, the FDA approved the Illumina cancer biomarker test with two companion diagnostics.
  • In June 2024, the National Biomarker Centre for Cancer Research UK opened. Experts will be able to identify cancer sooner when there are often more treatment choices, according to this new National Biomarker Center.

Segments Covered in the Report

By Type

  • Breast cancer
  • Prostate cancer
  • Colorectal cancer
  • Cervical cancer
  • Liver cancer
  • Lung cancer
  • Others

By Biomolecule

  • Genetic Biomarkers
  • Epigenetic Biomarkers
  • Metabolic Biomarkers
  • Proteomic Biomarkers
  • Others

By Application

  • Drug Discovery and Development
  • Diagnostics
  • Personalized medicine
  • Others

By Technology

  • Imaging Technology
  • OMICS

By Region

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Insight Code: 5335
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: November 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

Meet the Team

Shivani Zoting is a healthcare market research expert with 2+ years of experience, specializing in analyzing trends, identifying growth opportunities, and providing actionable insights for businesses across healthcare sectors.

Learn more about Shivani Zoting

Aditi Shivarkar, with 14+ years of healthcare market research experience, ensures the accuracy, clarity, and relevance of reports. Her expertise helps businesses make informed decisions and stay competitive in healthcare sectors.

Learn more about Aditi Shivarkar

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FAQ's

High levels of sensitivity and specificity are essential for a useful biomarker.

Finding genes, proteins, and other materials (also known as biomarkers or tumor markers) that can provide details about cancer is possible through biomarker testing.

Ministry of Health and Family Welfare, Government of India, National Institutes of Health, FDA, WHO, PIB, CDC, National Cancer Institute.