Biomarkers in Cancer Research 2010
The Global Cancer Biomarkers Market will grow from $3.6 billion in 2007 to $6.3 billion in 2016.
Sep 21, 2010 - The global cancer biomarkers market for 2007 was estimated to be $3.6 billion and is expected to grow at a CAGR (Compounded Annual Growth Rate) of 6.3% to reach $6.3 billion by 2016.
This growth is primarily attributed to the rise in the number of biomarker tests in the cancer types such as cervical cancer, NSCLC (non-small cell lung cancer), breast cancer, gastric cancer, head cancer, colon cancer and many others that will be launched in the next few years. These will contribute significantly to market revenues. In addition, the support from regulatory bodies such as the FDA (Food and Drug Administration) and various government initiatives will also drive up the investment in biomarkers, which will result in the discovery of improved tumor markers.
In the future, the growth of personalized medicines and the strong support from regulatory agencies such as the FDA will be the two major factors that will drive the demand for biomarkers, particularly in cancer research. Personalized medicines are gaining popularity due to their ability to provide customized treatment to patients based on their genetic as well as medical profile. Since biomarkers help in predicting patient response to a compound, personalized medicine are increasingly using biomarkers to identify the patient population set that is more likely to respond to a particular drug therapy. Personalized medicines are also increasingly being used in targeted cancer therapies. Thus, going forward, as personalized medicines gain more importance and popularity, the demand for biomarkers is also expected to increase.
GBI Research, the leading business intelligence provider, has released its latest report, "Biomarkers in Cancer Research 2010 - High Unmet Need to Drive the Growth in Cancer Biomarkers Market, Particularly in Cervical Cancer and Lung Cancer Biomarkers" that provides key data, information and analysis of the major trends and issues affecting the biomarkers in cancer research. The report provides a comprehensive insight into the history of biomarkers, their uses, efficiency as well as their limitations. The report also provides a detailed analysis of the cancer biomarkers market characterization in terms of its market size, segmentation by key cancer types and the major market drivers and barriers. The report also talks about the patent landscape for cancer biomarkers and provides a comprehensive analysis. The report also looks into the cancer biomarkers pipeline as well as an analysis on the pipeline by indication, phase of development and geography of development. The report also provides a competitive landscape of the market that profiles the key market players along with their brief business description, pipeline, major products and major M&A and partnership deals. The report also provides detailed analysis of the major partnership deals that have taken place in the cancer biomarkers market since 2006 along with segmentation by number of deals per year, indication, deal type, geography and companies. In addition, the report also talks about the major M&A deals in the cancer biomarkers market since 2005 along with segmentation by value, geography and companies. Finally, the report highlights the major conclusions emanating from the report.