Market Size of Europe Cancer Biomarkers Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 11.60 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Cancer Biomarkers Market Analysis
The European Cancer Biomarkers Market is expected to register a CAGR of nearly 11.6% during the forecast period with a revenue of approximately USD 4,008 million in 2020, and it is expected to reach USD 7,764 million by 2026. Certain factors driving the growth of the market include the increased burden of cancer and the increasing focus on innovative drug development.
With the rising of the COVID-19, several companies increased their focus on the development of drugs or vaccines for COVID-19, showing a negative impact on interventional and other cancer biomarker-related clinical trials, which have been stopped as a result of the COVID-19 virus situation across the world. It is observed that it will have a negative impact for a short period of time. The companies such as Pfizer, Eli Lilly, and Bristol-Myers Squibb have also announced that they had halted the new clinical trials as a result of COVID-19. As per Pfizer's announcement, in late March 2020, the company paused the recruitment portion of certain global interventional clinical trial studies to avoid adding to the demands on the healthcare system during the peak of the crisis.
As per the estimates of the Globocan 2020, there were 467,965 new cases of cancer in France, and there had been 185,621 deaths due to it. According to the Fondation de France, cancer affects over 350,000 people every year and kills close to 150,000, representing roughly 1/3 of total deaths. Due to this high prevalence of cancer, increasing efforts are being made in R&D for the development of novel cancer therapeutics and diagnostics.
Thus, cancer biomarker is found playing a pivotal role in risk assessment and early diagnosis. Biomarkers, particularly those associated with genetic factors, offer a quantitative way to determine when individuals are predisposed to some form of cancer. These biomarkers have been developed for almost all cancers with a high prevalence rate. Some of the examples for such biomarkers are mutation on KRAS, p53, EGFR, erbB2 for colorectal, esophageal, liver and pancreatic cancer, and BRCA1 and BRCA2 for breast and ovarian cancer.
Biomarker-based early detection enables sensitive and cost-effective testing, which is expected to reduce cancer mortality. The biomarker's potential to assess the risk precisely has helped in improving the adoption of the technology, which has led to market expansion.
Furthermore, in November 2019, Hitachi and Centre Léon Bérard cancer center in France promoted R&D aimed at improving the efficiency of diagnosis and treatment of cancer and established a new research laboratory called Hitachi Lyon Lab. The research also includes the identification of biomarkers exploiting genomic data in the context of resistance, which may allow predicting responses and prognoses upon radiation treatment. Hence, the high burden of cancer and increasing R&D activities are expected to boost the overall growth of the market.
Europe Cancer Biomarkers Industry Segmentation
As per the scope of the report, biomarkers are chemical, physical, or biological parameters, which can be used to indicate disease states. Oncology biomarkers offer high-speed, non-invasive cancer diagnoses, and enhance cancer detection and screening. The European cancer biomarkers market is segmented by disease (prostate cancer, breast cancer, lung cancer, colorectal cancer, cervical cancer, and other diseases), type (protein biomarkers, genetic biomarkers, and other types), and profiling technology (omics technology, imaging technology, immunoassays, and cytogenetics). The report offers the value (in USD million) for the above segments.
By Disease | |
Prostate Cancer | |
Breast Cancer | |
Lung Cancer | |
Colorectal Cancer | |
Cervical Cancer | |
Other Diseases |
By Type | |
Protein Biomarkers | |
Genetic Biomarkers | |
Other Types |
By Profiling Technology | |
OMICS Technology | |
Imaging Technology | |
Immunoassays | |
Cytogenetics |
By Geography | ||||||||
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Europe Cancer Biomarkers Market Size Summary
The European cancer biomarkers market is poised for significant growth, driven by the increasing prevalence of cancer and a heightened focus on innovative drug development. The market is characterized by the pivotal role of biomarkers in risk assessment and early diagnosis, particularly those linked to genetic factors. These biomarkers facilitate sensitive and cost-effective testing, which is anticipated to reduce cancer mortality rates. The market's expansion is further supported by substantial research and development activities aimed at developing novel cancer therapeutics and diagnostics. Collaborations, such as the one between Hitachi and the Centre Léon Bérard cancer center, underscore the commitment to enhancing diagnostic and treatment efficiencies through genomic data exploitation.
Despite the temporary setbacks caused by the COVID-19 pandemic, which led to the halting of some clinical trials, the market is expected to recover and continue its upward trajectory. The competitive landscape is dominated by major players like Abbott Laboratories Inc., Agilent Technologies, and F. Hoffmann-La Roche Ltd, among others, who are actively involved in advancing biomarker technologies. The availability of commercially viable biomarkers for various cancer types, including lung cancer, contributes to the intense competition and fosters market growth. Initiatives such as Agilent Technologies' Biomarker Pathologist Training Program and the commercial availability of tests like Proteomedix's Proclarix further illustrate the dynamic nature of the market, which is poised to benefit from increased awareness and early diagnosis efforts.
Europe Cancer Biomarkers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increased Burden of Cancer and Higher Acceptance for Treatment
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1.2.2 Increasing Focus on Innovative Drug Development
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1.3 Market Restraints
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1.3.1 High Cost of Diagnosis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Disease
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2.1.1 Prostate Cancer
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2.1.2 Breast Cancer
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2.1.3 Lung Cancer
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2.1.4 Colorectal Cancer
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2.1.5 Cervical Cancer
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2.1.6 Other Diseases
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2.2 By Type
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2.2.1 Protein Biomarkers
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2.2.2 Genetic Biomarkers
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2.2.3 Other Types
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2.3 By Profiling Technology
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2.3.1 OMICS Technology
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2.3.2 Imaging Technology
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2.3.3 Immunoassays
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2.3.4 Cytogenetics
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2.4 By Geography
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2.4.1 Europe
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2.4.1.1 Germany (By Disease, Type, and Profiling Technology)
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2.4.1.2 United Kingdom (By Disease, Type, and Profiling Technology)
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2.4.1.3 France (By Disease, Type, and Profiling Technology)
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2.4.1.4 Italy (By Disease, Type, and Profiling Technology)
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2.4.1.5 Spain (By Disease, Type, and Profiling Technology)
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2.4.1.6 Rest of Europe (By Disease, Type, and Profiling Technology)
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Europe Cancer Biomarkers Market Size FAQs
What is the current Europe Cancer Biomarkers Market size?
The Europe Cancer Biomarkers Market is projected to register a CAGR of 11.60% during the forecast period (2024-2029)
Who are the key players in Europe Cancer Biomarkers Market?
Abbott Laboratories Inc, F. Hoffmann-La Roche Ltd, Illumina Inc, Thermo Fisher Scientific and Biomerieux are the major companies operating in the Europe Cancer Biomarkers Market.