The Growth of Cancer Biomarker market is huge, the study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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The World Health Organization (WHO) estimates that cancer kills 8.3 million people every year. It further projects that 7 out of 10 patients will be diagnosed with cancer in the future. Each cancer type requires different kinds of treatment. Consequently, governments across the world are funding cancer research to facilitate diagnosis and treatment. In addition, clinical trials are also funded by governments to support companies engaged in the diagnosis and treatment of the disease.
On the back of these factors, the global cancer biomarkers market is anticipated to grow at a staggering CAGR of 12.2% during the forecast period (2020-2025). Availability of less-invasive and inexpensive prognosis shall further augment the demand for biomarkers in the market.
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Circulating Tumor Cells (CTC) Segment to Register Impressive Growth, Prostate-Specific Antigen (PSA) Buckling Up
The Circulating Tumor Cells (CTC) Test segment is projected to enjoy the maximum market share during the forecast period. CAGR for the same is pegged at 13.0%, thus giving an uptick to demand for the cancer biomarkers within the market. This is attributed to its simplicity and early assessment of patient prognosis. CTC test segment is closely followed by the Prostate-Specific Antigen (PSA) test segment, which accounts for over one-fifth of the global cancer biomarkers market.
North America to Lead Global Sales, Asia-Pacific to Show Prolific Growth
North America remains the most prominent market, accounting for more than 40% of the global cancer biomarkers market. This is expected to gain further traction during the forecast period. An absolute $ opportunity of US$ 5.2 Bn is anticipated for the region during the forecast period. This is due to heavy budget allocation by the government for cancer research and training. However, Asia-Pacific is expected to surpass North America, owing to greater affordability of cancer treatments by patients. Projected CAGR for Asia Pacific is pegged at ~14% during the forecast period.
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The Cancer Biomarker market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
The Cancer Biomarker market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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