Market Trends of Cancer Biomarkers Industry
This section covers the major market trends shaping the Cancer Biomarkers Market according to our research experts:
Lung Cancer Segment is Expected to Hold a Significant Market Share in the Cancer Biomarkers Market
Lung cancer is caused by the uncontrolled growth of abnormal cells that multiply in one or both lungs. Although it can affect people who have never smoked, people who have smoked have the highest risk of lung cancer. The risk of lung cancer increases with the duration and number of cigarettes that the patient smokes.
The primary factors driving the growth of this segment are the rising prevalence and incidence of lung cancer. For instance, the American Cancer Society's estimates for lung cancer in the United States for 2022 are that around 236,740 new cases of lung cancer, including 117,910 in men and 118,830 in women, are expected to be diagnosed. The increasing prevalence of lung cancer is expected to increase the adoption of cancer biomarkers for the diagnosis of such diseases, which is expected to increase market growth over the forecast period.
Likewise, strategic initiatives undertaken by companies operational in the market are expected to impel the segment's growth. For instance, in April 2021, Amgen launched Biomarker Assist, an initiative intended to make biomarker testing more accessible to patients with metastatic (stage IV) non-small cell lung cancer (NSCLC). Biomarker Assist can help eligible patients save money on biomarker testing. Moreover, with such a high incidence rate of lung cancer and the launches by key market players, the demand for diagnostic devices is exected to increase, in turn, leading to the growth of this segment in the years to come.
North America Dominates the Market and is Expected to do the Same Over the Forecast Period
North America is expected to hold a significant share of the cancer biomarkers market. Factors such as the increasing prevalence of cancer coupled with initiatives by key market players are expected to increase market growth over the forecast period. The United States has witnessed a considerable rise in the number of cancer patients. Breast cancer can occur both in men and women. However, it is mostly found among females, and the occurrence of male breast cancer is very rare. For instance, according to the data provided by Breastcancer.org, in March 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 51,400 new cases of non-invasive (in situ) breast cancer in 2022. Similarly, as per the Canadian Cancer Statistics 2021 released in November 2021, an estimated 229,200 Canadians were diagnosed with cancer in 2021. The increasing number of cancer cases is expected to increase the adoption of cancer biomarkers for diagnosis, which is expected to increase market growth over the forecast period.
The availability of funds from various organizations, such as the National Institute of Health, has provided the potential for researchers to invest more in the use of biomarkers in drug discovery, drug development, the detection of specific tumors, monitoring biological response to cancer therapy, and genetic studies for the identification of predisposed candidates for cancer.
Additionally, the high concentration of key players in North America, increasing United States Food and Drug Administration approvals strategic alliances, and high investment in research and development activities are expected to boost the market in the region. For instance, in April 2022, researchers at Clarkson University in New York discovered a set of protein biomarkers that could be used to screen for breast cancer in breast milk or blood serum. The biomarkers were discovered for a kind of cancer termed invasive ductal carcinoma (IDC), which is one of the most common types of breast cancer. The researchers claim, however, that their method might be applied to find biomarkers for different types of breast cancer as well.
Thus, due to the aforementioned factors, such as the high incidence rate of cancer cases and the launches by key market players, the cancer biomarkers market is expected to grow over the coming years in the North American region.
