Market Trends of Asia-Pacific Cancer Biomarkers Industry
Breast Cancer is Expected to Grow with a Significant CAGR in the Market Over the Forecast Period
- Breast cancer occurs when cells in a patient's breast grow and divide in an uncontrolled way, creating a mass of tissue called a tumor. Breast cancer is considered one of the most prevalent cancers compared to other types of cancer and is also treatable. The increasing awareness about breast cancer and the rising prevalence of the disease are some of the major factors due to which this segment will grow more rapidly as compared to others.
- The rising prevalence of breast cancer around the region is expected to boost segment growth. For instance, according to the bi-annual report published by the Indian Council of Medical Research (ICMR) in December 2022, the national average of cancer cases for 2022 in India was 100.4 per 100,000, with a large number of women (an estimated 105.4 per 100,000) being diagnosed with breast cancer. The source also stated an estimated 182,000 people are living with breast cancer in India, which is expected to reach 250,000 by 2030. Thus, due to the country's high burden of breast cancer, the demand for cancer biomarkers is expected to increase, which will drive the growth of the studied segment.
- Similarly, according to an article published by Cancer Research and Treatment in March 2022, it is estimated that 28,142 new breast cancer cases were noted in South Korea in 2022, out of which 28,032 were female and 110 were male. The source also stated that the age-standardized incidence of breast cancer in South Korea was 33.1 out of 100,000 in 2022. Thus, the high burden of breast cancer in South Korea is expected to boost the segment's growth.
- Moreover, according to an article published by PubMed in January 2022, a plasma biomarker panel was developed which was effective in differentiating breast cancer from benign diseases of the breast in South Asian women, and it could help as a complementary diagnostic tool for breast cancer. Hence, the factors above, such as the rising prevalence of breast cancer and the increasing usage of biomarkers in the early detection of breast cancer, are expected to boost market growth.
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Japan is Expected to Hold a Significant Market Share Over the Forecast Period
- Japan is expected to hold a significant market share over the forecast period due to factors such as the rising prevalence of cancer in the country, the increasing launch of technologically advanced products, the rising geriatric population, and the growing research and development regarding cancer in the country.
- For instance, according to the data published by National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer were diagnosed in Japan in 2022, out of which colon and rectum cancer, stomach cancer, lung/trachea cancer, prostate cancer, and breast cancer were the most prevalent. Thus, the country's high cancer burden is expected to boost the usage of cancer biomarkers during the forecast period of the study.
- Moreover, According to an article published by Multidisciplinary Digital Publishing Institute (MDPI) in April 2022, it has been observed that in Japan, cancer precision medicine initiatives such as SCRUM-Japan (solid tumors) and MASTER KEY project function as screening platforms that helps in identifying cancer patients with mutations who may be eligible to participate in ongoing clinical trials. The accumulated genomic and clinical data in these initiatives often contribute to a growing clinical-genomic database from which novel biomarkers are identified.
- Thus, the increasing research activities on cancer biomarkers in Japan are also expected to boost the market growth in the country. Additionally, as cancer is primarily diagnosed in older adults, the rising geriatric population in the country is also expected to boost market growth. Thus, the factors mentioned above, such as the increasing aging population and the rising prevalence of cancer, are expected to boost market growth.
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