The Europe cancer biomarkers market is expected to register a CAGR of nearly 11.6% during the forecast period. Certain factors that are driving the growth of the market include the increased burden of cancer, and higher acceptance of treatments for cancer, the paradigm shift in healthcare, from disease diagnosis to risk assessment or early diagnosis, and increasing usage of biomarkers in drug development.
According to the estimates of the Globocan 2018, there are about 608,742 new cases of cancer in Germany. While five most frequent cancers include breast, lung, prostate, colorectum, and bladder cancer. Due to this high prevalence of cancer, increasing efforts are being made in R&D for the development of novel cancer therapeutics and diagnostics.
Furthermore, in November 2019, in Germany Merck KGaA and Personalis, Inc. collaborated to develop the novel biomarkers of response and mechanisms of resistance to cancer therapies.
Thus, the high burden of cancer and increasing R&D activities are expected to boost the overall growth of the market. The use of innovative technologies is also primarily driving the cancer biomarker market in Europe.
Key Market Trends
Lung Cancer Segment is Expected to Hold a Major Market Share in the Europe Cancer Biomarkers Market
Lung cancer is caused by the uncontrolled growth of abnormal cells that multiply in one lung or both lungs. Although it can affect people who never smoked, people who smoke have the highest risk of lung cancer. The risk of lung cancer increases with the duration and number of cigarettes that the patient smoked. Other risk factors include occupational or environmental exposure to secondhand smoke, asbestos, certain metals, some organic chemicals, radiation, air pollution, and diesel exhaust.
According to the estimates of the Globocan 2018, in 2018 there were about 52,320 (11.7%) new lung cancer cases in the United Kingdom, 47,133 (10.3%) lung cancer cases in France, 39,989 (9.8%) lung cancer cases in Italy and 27,351 (10.1%) lung cancer cases in Spain. Among top five cancers in Europe the lung cancer is among one of the cancers which shows positive impact on market.
Some of the biomarkers for lung cancer include CYFRA 21-1, Plasma Kallikrein (KLKB1), Serum Amyloid A (SAA), Haptoglobin β Chain (Hp β), Complement Component 9 (C9), Endoglin (CD105), Peroxiredoxin 1 (PRX1), and Pro-gastrin-releasing Peptide (proGRP).
Therefore, with such a high incidence rate of lung cancer across the Europe, the demand for diagnostic devices is sure to rise, in turn, leading to the growth of this segment in the years to come.
The cancer biomarkers market is highly competitive and consists of a few major players. Some of the companies which are currently dominating the market are Abbott Laboratories Inc., Agilent Technologies, Ambry Genetics, Biomerieux, Celera Corporation (Quest Diagnostics), F. Hoffmann-La Roche Ltd, Hologic Inc., Illumina Inc., and Thermo Fisher Scientific, among others, hold substantial shares in the market.
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