The global Cancer Biomarkers Market is expected to reach a value of USD 33.7 billion by 2025, based on a new report by Grand View Research, Inc. Growing initiatives for development of drugs targeting novel cancer biomarkers coupled with the introduction of technologically advanced companion diagnostic kits is estimated to provide the market with high growth potential. Increasing awareness about personalized medicines amongst patients is further anticipated to boost adoption of cancer biomarkers.
In addition, presence of favorable government initiatives for the development of novel cancer diagnostic techniques is a key factor for market growth. For instance, the National Cancer Institute (NCI) provides funding to more than 8 research areas pertaining to cancer biomarker development. Cancer Research UK, Lung Cancer Research Foundation, and National Institutes of Health are some of the organizations providing funding for biomarker research.
People with high alcohol consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are reported to be 80% more at risk of developing cancer as compared to other individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been studied to be related in cancer development.
U.S. cancer biomarkers market, by application, 2014 – 2025 (USD Billion)
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Further Key findings from the study suggest:
Global cancer biomarkers market, by biomolecule, 2016 (%)
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Grand View Research has segmented the cancer biomarkers market by type, biomolecule, applications, and region:
Cancer Biomarker Type Outlook (Revenue, USD Billion, 2014 – 2025)
Cancer Biomarker Biomolecule Outlook (Revenue, USD Billion, 2014 – 2025)
Cancer Biomarker Application Outlook (Revenue, USD Billion, 2014 – 2025)
Cancer Biomarker Regional Outlook (Revenue, USD Billion, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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