Oncology Biomarkers Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The global oncology biomarkers market, valued at $13.68 billion in 2023, is expected to grow to $15.69 billion in 2024, marking a compound annual growth rate (CAGR) of 14.7%. This growth is driven by increased adoption in emerging economies, precision medicine initiatives, diagnostic innovations, support for drug development, and rising cancer incidence.

Rising Cancer Incidence Driving Market Growth
The oncology biomarkers market is poised for significant expansion, projected to reach $26.09 billion by 2028 at a CAGR of 13.6%. Factors contributing to this growth include the integration of next-generation sequencing (NGS), expansion of biomarker informatics, focus on predictive pharmacogenomics, development of exosome-based biomarkers, and adoption of spatial transcriptomics.

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Key Players and Market Trends
Major players such as F Hoffmann-La Roche AG, Novartis AG, and Thermo Fisher Scientific Inc. are driving market growth through the development of new clinical assays and innovative biomarker technologies. For example, Adaptive Biotechnologies launched the clonoSEQ Assay for detecting minimal residual disease (MRD) in patients with diffuse large B-cell lymphoma (DLBCL), enhancing treatment precision and patient care.

Key Trends Shaping the Market
In the forecast period, trends include standardization and quality assurance in biomarker testing, a shift towards functional biomarkers, expanded applications in immunotherapy, and real-time monitoring of treatment responses.

Market Segments
• Biomarker Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
• Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Other Profiling Technologies
• Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Leukemia, Ovarian Cancer, Liver Cancer, Other Cancer Types
• Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications
• End-User: Hospitals, Academic And Cancer Research Institutes, Ambulatory Surgical Centers, Diagnostic Laboratories

Geographical Insights: North America and Europe Lead
North America and Europe are expected to dominate the oncology biomarkers market, owing to advanced healthcare infrastructure, research capabilities, and high adoption rates of advanced diagnostic technologies.

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Oncology Biomarkers Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Oncology Biomarkers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oncology biomarkers market size, oncology biomarkers market drivers and trends, oncology biomarkers market major players, competitors' revenues, market positioning, and market growth across geographies. The oncology biomarkers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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