The cancer biomarker test market is driven by the prevalence of cancer worldwide. The World Health Organization (WHO) stated that cancer is one of the leading causes of mortality and morbidity worldwide, with approximately 14 new cases in 2012. The number of new cases is about 70% over the coming 2 decades. In addition, increase in awareness in public and healthcare related to early diagnostic procedures, rise in government and NGO’s funding for oncology are expected to bolster the cancer biomarker testing market. Furthermore, the development of companion diagnostics and recent breakthrough in detection techniques. The asbestos, metabolomics, genomics and transcriptomics are further expected to boost the cancer biomarker test market. However, high cost for biomarker tests,
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Cancer biomarker testing market segmented based on cancer type, application, bio molecule and end user
Based on type of cancer, cancer biomarker test market is segmented into
· Cervical cancer
· Lung Cancer
· Collateral Cancer
· Liver Cancer
· Prostate Cancer
· Breast cancer
· Others
Based on application, cancer biomarker test market is segmented into
· Drug Discovery and Development
· Personalized Medicine
· Diagnosis
· Others
Based on end-user, cancer biomarker test market is segmented into
· Hospitals
· Cancer diagnostic Centers
· Research Institutes
· Others
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The global cancer biomarker test market is expected to grow with significant CAGR during forecast period. Market players are carrying out collaborations, partnerships and acquisitions. For instance, in March 2017, Foundation Medicine and Bristol-Myers Squibb posted a collaboration to understand tumor profile and its microenvironment to predict patient’s response to cancer immunotherapy. Using Foundation Medicine’s genomic profiling assay, the firm wants to look at tumor mutational burden and microsatellite instability in patients enrolled in clinical trials for Bristol-Myers Squibb (BMS) cancer drugs. For instance, in October 2016, Arquer Diagnostics Ltd. (Arquer) Arquche’s MCM5 ELISA test in a wide range of cancers. In April 2016, Stemcentrix acquired by AbbiVe along with its late stage biomarker rovalpituzumab tesirine (Rova-T), that helps to identify tumor cells.
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Thermo Fisher Scientific (Affymetrix Inc.) (US), Abbott Laboratories (US), F. Hoffmann-La Roche Ltd .. (Switzerland), AbbVie Inc. (US), Arquer Diagnostics Ltd. (UK), Illumina, Inc. (US), Qiagen (Germany), Agilent Technologies (US), Merck & Co. Inc. (US), Becton Dickinson and Company (US), and Hologic Inc. (US) to name a few.
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