Cancer Biomarkers Market to witness a healthy y-o-y growth during 2022 - 2031 |
Posted: March 4, 2022 |
Cancer accounts for 8.3 million deaths annually. Over the next two decades, 7 out of 10 patients are likely to suffer from this deadly disease. The increasing prevalence of cancer has facilitated extensive research in the diagnosis and treatment of cancer. Governments are increasingly funding clinical trials to assist companies in developing effective diagnostics and treatment for cancer. In April 2016, the National Cancer Institute (NCI) received a federal grant of US$ 5.2 Bn to aid it in its research. Aggressive funding initiatives by governments on cancer diagnostics are boosting the growth of the cancer biomarkers market. The aforementioned trends are anticipated to leverage growth within the global cancer biomarkers market which is estimated to reach a staggering CAGR of 12.2% during the forecast period (2020-2025). Factors, such as availability of inexpensive and less-invasive prognosis, will further augment demand for cancer biomarkers, propelling the market to hurtle towards a valuation of US$27Bn by the end of the forecast period For detailed insights on enhancing your product footprint, request for a sample here- https://www.factmr.com/connectus/sample?flag=S&rep_id=4587 Key Takeaways of Global Cancer Biomarkers Market Study
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“The global cancer biomarkers market possesses immense potential for future growth, driven primarily by increased prevalence of cancer and the subsequent investment in its research and development. Favorable government policies, in terms of extending grants, has facilitated path-breaking innovations in the treatment and prognosis of cancers,” concludes a Fact.MR analyst. AI Capabilities and Product Innovations to Shape the Competition Landscape The global cancer biomarkers market is highly consolidated, with key players such as F. Hoffmann-La Roche Ltd., Abbott Technologies & Merck & Co., Inc. holding the maximum market share. Innovations and product launches constitute their key market strategies. For example, La Roche’s TECENTRIQ prescription medicine has been cleared by the Food & Drug Administration (FDA) to treat patients suffering from non-squamous and squamous non-small cell lung cancer (NSCLC). Smaller players, like Novartis AG, have concentrated on building up their Artificial Intelligence capabilities to detect cancers with zero-error margins. The presence of these market players and their strategies is expected to significantly boost their share in the cancer biomarkers market. Buy Now – https://www.factmr.com/checkout/4587 About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. Contact: US Sales Office: Corporate Headquarter:
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