The Asia-Pacific cancer biomarkers market is expected to register a good CAGR during the forecast period of 2018–2023. Biomarkers are chemical, physical or biological parameters, which can be used to indicate disease states. Oncology biomarkers offer high speed, non-invasive cancer diagnosis and are believed to enhance cancer detection and screening. Major driving factors for the market are streamlined drug delivery process, noninvasive technology, and increased rates of survival.
There has been a paradigm shift in healthcare, from diagnosis after the symptom has appeared to early diagnosis or risk assessment, especially in developed countries, such as the china, India, Japan, and others. Cancer biomarkers play 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 high prevalence rate. Some of the examples of such biomarkers are the mutation on KRAS, p53, EGFR, erbB2 for colorectal, esophageal, liver and pancreatic cancer, and BRCA1 and BRCA2 for breast and ovarian cancer. The biomarker’s potential to assess the risk precisely has helped in improving the adoption of the technology, which has led to market expansion.
In cancer, it is widely accepted that the success of the treatment depends on the phase that it is being diagnosed in. Some even suggest the 80-20 formula, which indicates that if cancer has been diagnosed in stage one, the success rate of treatment could be as high as 80%. This underlines the importance of early diagnosis. Biomarkers have the potential to improve the early diagnosis process significantly in terms of accuracy and efficiency. This capability of precise early diagnosis is one of the most important reasons for the adoption of the technology, which is going to drive the market. The other factor, such as an increasing usage of biomarkers in drug development is driving the cancer biomarker market.
It is proposed that both tissue and blood should be profiled in parallel within the single cancer-specific platform. Blood is very useful as a starting point due to its ease of acquisition, the diversity of analytes it contains, and its practicality. Moreover, most disease-relevant biomarkers are expected to be at their highest concentration at relevant organs or tissues. The need for immediate processing, storage, and thawing of these specimens is another restraining factor for the cancer biomarker tests, because the viability of the cells is very important while performing different biomarker tests. The other factors, such as the high cost of diagnosis and reimbursement issues are also hindering the growth of the Asia-Pacific cancer biomarker market.
The China cancer biomarker market held the largest market share in 2017 in the Asia-Pacific region due to the presence of better quality healthcare systems and the high rate of prevalence of cancer in this region, which is expected to increase in the coming years.
The major players include Abbott Laboratories, Affymetrix Inc., (Thermo Fisher Scientific), Agilent Technologies, Hologic Inc., Roche Holding AG, Biomerieux, Celera Corporation (Quest Diagnostics), and Illumina Inc., among others.
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