With the increased prevalence of cancer, the tools to detect this deadly disease are also in great demand. Cancer biomarkers are molecules secreted by a tumor or a specific response of the body to the presence of cancer. They are non-invasive, enable high speed cancer diagnosis and also enhance early cancer detection and screening. PSA (prostate specific antigen) is a cancer biomarker that is measured in the blood to screen for and monitor treatment for prostate cancer. It helps physicians monitor the progress of the cancer and evaluate the response of the cancer to treatment.
According to a TechNavio study, the Global Cancer Biomarkers market will grow at a CAGR of 18.26% over the period 2014-2019.
The report analyzes the market based on following segments:
Market Driver: Increased Prevalence of Cancer
Market Challenge: Regulatory and Reimbursement Issues
Market Trend: Growing Popularity of Companion Diagnostics
The report covers the Americas, and the EMEA and APAC regions. The study reports the following companies as the key players in the Global Cancer Biomarkers Market: Abbott Laboratories, Affymetrix Inc., Illumina Inc., Qiagen NV, Quest Diagnostics and Roche Diagnostics. Other prominent vendors include Agilent Technologies, Alere, Beckman Coulter, Becton, Dickinson and Co., Randox Laboratories and Siemens Healthcare. The report holds that poor regulatory and reimbursement systems are one of the key challenges in the market.