Cancer biomarker refers to a process or substance that indicates presence of cancer in the body. Cancer is one of the leading causes of mortality around the globe. Increasing prevalence of different cancers is escalating the need for early diagnosis. This, in turn, is likely to boost the demand for cancer biomarkers.
Understanding the Importance of Cancer Biomarkers
Cancer biomarkers may be a specific response of the body to cancer or molecules secreted by a tumor. In research and medicine pertaining to cancer, biomarkers are primarily used for diagnostic (identifying early stage cancers), prognostic (gauging a patient’s ability to survive in absence of treatment), and predictive (predicting patient’s response to treatment) functions. Apart from these, they are also used in risk assessment, pharmacodynamics and pharmacokinetics, recurrence, developing drug targets, and surrogate end points.
Biocept’s New Liquid Biopsy Test
Discovery of new biomarkers is expected to provide a new direction for cancer diagnosis and prognosis. For instance, in July 2017, Biocept Inc. announced that its advanced liquid biopsy test for progesterone receptor was commercially available. This can be used to detect and monitor a vital biomarker in the blood of patients suffering from breast cancer.
Of late, a study conducted at Vienna General Hospital and MedUni Vienna revealed the presence of an enzyme known as telomerase. This characterizes a particularly malignant subgroup of cerebellar ependymomas. The enzyme, along with already known markers, can provide information that enables a more reliable prognosis for primary tumors of spinal cord and brain.
Market Insights
As per a study by Grand View Research Inc., the global cancer biomarkers market is anticipated to reach USD 33.7 billion by 2025. Increasing investments in development of targeted therapies are expected to provide a significant push to the market in future. Mounting cases of malignancies, coupled with increasing awareness regarding merits of early diagnosis, are likely to help the market in gaining tremendous momentum. Growing inclination toward personalized medicines can also trigger adoption of medical biomarkers.
On the other hand, high capital investments and low returns are limiting the willingness of pharma and biotech companies to venture into the market. This is anticipated to negatively impact market growth. Furthermore, technical issues related to existing systems used for sample collection and storage are likely to act as a major stumbling block in the growth of the market.
Some of the prominent participants are Merck & Co. Inc.; Agilent Technologies; Becton, Dickinson and Company; Thermo Fisher Scientific Inc.; and Abbott Laboratories.
In-Depth research report on Cancer Biomarker Market:
http://www.grandviewresearch.com/industry-analysis/cancer-biomarker-market
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