Cancer biomarkers are biological molecules that indicates the presence of cancer in a patient. They are produced either by the cancer cells or by noncancer cells in response to cancer.
Use of Cancer Biomarkers Across Different Stages of Cancer Fuels Its Market Demand
Cancer biomarkers play a important role in evaluating and managing cancer in different stages. They are used for cancer risk assessment, screening, differential diagnosis, prognosis determination, treatment response prediction, pharmacokinetics/predicting drug doses, and monitoring treatment response. Clinical use of biomarkers for various types of cancer – breast cancer, prostate cancer, ovarian cancer, pancreatic cancer, colon cancer germ cell cancer, and thyroid cancer, amongst others drives its demand.
Increasing Prominence of Cancer Biomarkers in Drug Discovery, Development, and Approval Processes
Biomarkers are increasingly being used at every stage of drug discovery and development. The utilization of biomarkers makes the drug discovery, development, and approval processes more efficient. For the successful treatment of complex chronic diseases (such as cancer), to develop precision medicine and targeted therapies, it is critical to monitor the molecular basis of disease initiation and progression before, during, and after the therapeutic intervention. The need to better understand the factors affecting response to drugs has led to an increased demand for additional efficacy, specificity, and safety testing of drugs during new drug development which in turn has bolstered the demand for cancer biomarkers.
Future Outlook : Global Cancer Biomarkers Market
The worldwide cancer biomarkers market is an emerging market and is expected to gain further momentum in the upcoming years due to the technological advancements in genomic and proteomic technologies (gene array technology, improved two-dimensional gel electrophoresis, new mass spectrometric techniques) and bioinformatic tools that showcase the potential to meet the growing demand for new biomarkers that are both sensitive and specific.
To ensure precise evaluation and better clinical cancer management, the demand for prognostic and predictive cancer biomarkers is expected to increase. With the growing development of new treatments, there is a growing requirement for biomarkers that can predict outcomes and direct patients/providers on which treatment options are most likely to be effective for a particular patient with a particular tumor.
Competitive Landscape Analysis: Cancer Biomarkers Market
The global cancer biomarkers market is marked by the presence of leading market players such as Roche, Thermo Fisher Scientific, QIAGEN, Illumina, Bio-Rad Laboratories, Abbott Laboratories, Sysmex, and others. The foray of industry players such as R&D Systems, BioVision, Olink, Meso Scale Diagnostics, and others are changing the dynamics of the market and have made the market more competitive.
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