Serum Biomarkers Market Set for Rapid Growth and Forecast 2018-2026
Serum biomarkers are proteins generally detected in urine, blood, and other bodily fluids produced by malignant cells or in reaction to presence/absence of malignant cells. Preferably, biomarkers should have at least one or more than one of the following properties: prompt detection of cancer within high risk population, diagnosis of specific type of cancer, prediction in its growth, screen its treatment response, and detect early recurrence.
Several of the biomarkers are not precise for organs or tumors and their levels may rise/decline in other diseases. The diagnostic value of marker depends on the prevalence of a disease in a selected population group or its percentage and sensitivity in normal individuals in which negative results are obtained. The serum biomarker is usually measured by its cost in a commonly available assay with reproducible results in a sample which is easy to access. In the past few years, the determination of serum biomarkers has been widely accepted as an important tool for early diagnosis and to find therapeutic solutions and projection of its growth in various kinds of tumors.
The global serum biomarkers market is projected to grow at a rapid pace in the next few years. Key drivers of the market are increase in the number of people suffering from different types of cancer and rise in the geriatric population. Increase in the cancer-afflicted population is anticipated to be another key driver of the market. According to a Centers for Disease Control and Prevention (CDC) report, the number of cancer patients diagnosed in the U.S. reached approximately 21 million in 2014. The number is expected to increase to 25.4 million by 2024. Over 60% of the world’s new cancer cases occur in Asia, Africa, and South America. Nearly the same percentage of cancer deaths also take place in these regions.
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Stomach, liver, lung, breast, and esophageal cancer are the most prevalent among populations across the world. Each cancer type requires unique treatment. Epidemiological studies predict variable incidences depending on the region. Incidences are high in Pakistan, Brazil, India, and France. Hence, rise in prevalence of cancer and the need for personalized medicine are expected to drive demand for serum biomarkers. This is likely to provide significant opportunities for players in this market. However, rise in cost of surgeries and lack of reimbursement policies in developing nations are expected to hamper the growth of the global serum biomarkers market.
The global serum biomarkers market can be segmented based on type of cancer and end-user. In terms of type of cancer, the global market can be classified into hepatocellular carcinoma, lung cancer, pancreatic & biliary tract cancer, breast cancer, glioblastoma, and others. Based on end-user, the global serum biomarkers market can be divided into hospitals, academic & research institutes, ambulatory surgical centers, and others.
Geographically, the global serum biomarkers market can be segmented into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The market in North America is projected to expand at a high CAGR in the next few years. This is attributed to the acceptance of better reimbursement policy structure, and well-established health care system. Europe and Asia Pacific are the other major markets for serum biomarkers. Rise in investments in research and development by top players, presence of key players, and collaboration of pharma & biotech companies with academic & research institutes are the factors boosting the growth of the serum biomarkers market in these regions.
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Key players in the global serum biomarkers market are Gilead, Boehringer Ingelheim GmbH, AstraZeneca, Bristol-Myers Squibb, Novo Nordisk A/S, Novartis AG, Allergan, and Pfizer, Inc.
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