Cancer Biomarkers Market Share

North American Market Statistics

The North America cancer biomarkers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising population count & growing research activities, followed by the surging ratio of health insurance covering various cancer biomarker diagnoses. Furthermore, the rise in personal income and affordability of advanced treatments among people is estimated to fuel the market growth during the forecast period. As per the U.S Bureau of Economic Analysis, the personal income of people in the U.S. rose to USD 71.6 billion at the rate of 0.3% per month, and consumer spending rose to USD 67.5 billion at the rate of 0.4% in August 2022. Further, the rising adoption of cancer biomarkers, along with the proliferation of research and development of novel products to treat cancer are further factors that are estimated to spur market growth in the coming years. In addition, increasing adoption ratio of next-generation sequencing are also anticipated to boost the market growth during the forecast period.

APAC Market Forecast

Furthermore, the Asia Pacific cancer biomarkers market is projected to display notable growth over the forecast period on the back of the accelerating prevalence of cancer in nations such as Japan, and China. For instance, more than 5 million new cancer cases were reported in China in 2020. With almost 850,000 new cases, lung cancer was the most prevalent type of cancer. Moreover, the surge in disposable income, growth in the geriatric population, and increasing investment in the research and development of biomarkers in the form of digital biomarker are some further factors that are projected to expand the global cancer biomarkers market size during the projected timeframe in the region.