According to research report the global Oncology
Biomarkers Market is projected to reach USD 20.48 Billion by 2022 from USD
11.53 Billion in 2017, at a CAGR of 12.2%. Major growth drivers of the Oncology
Biomarkers Market are rising prevalence of cancer and rising demand for
personalized medicine in cancer therapies. However, the high cost of various
cancer diagnostic tests, need for high capital investments, poorly suited
regulatory and reimbursement systems, and technical issues related to sample
collection are restricting the growth of this market.
The Oncology Biomarkers Market is dominated by
established players such as Thermo Fisher Scientific Inc. (US), Roche
(Switzerland), Agilent Technologies (US), Illumina Inc. (US), Abbott (US),
QIAGEN N.V. (Netherlands), Merck (US), Becton, Dickinson and Company (US), and
Hologic (US).
Thermo Fisher is the largest player in the global Oncology
Biomarkers Market. The company has set the healthcare industry standard in this
market by providing innovative cancer biomarkers. The company offers a wide range
of products in the immunoassay, omics, and cytogenetics technologies. With its
strong geographic presence and extensive product portfolio the company is
expected to witness a strong growth in the Oncology Biomarkers Market during
the forecast period. The company focuses on organic as well as inorganic
strategies such as product launches, acquisitions, agreements, and partnerships
to maintain its position in the market and strengthen its product portfolio.
For Instance, in 2016, Thermo Fisher acquired Affymetrix (US) to
strengthen its bioscience product portfolio.
Roche is another leading provider of diagnostics systems
and tests for clinics, laboratories, and other healthcare facilities. This is
mainly attributed to its continued focus on the development of new products and
technologies for diagnostics. This allows it to introduce innovative products
in the market, from which the company maintain its presence in the Oncology
Biomarkers Market. In addition, the company has a strong presence across the
globe, with manufacturing facilities in Europe and the US and strong
distribution channels to serve markets in Europe, the Middle East, Africa, Asia
Pacific, and Latin and North America. The company focuses on organic as well as
inorganic strategies such as product launches, expansions, agreements, and
partnerships to maintain its position in the market and strengthen its product
portfolio. For Instance, in 2015, Roche acquired Signature Diagnostics
(Germany), a developer of blood plasma and tissue biobanks for cancer.
Agilent is a global life sciences and diagnostics
technology company that provides laboratories across the globe instruments,
services, consumables, applications, and expertise. The company operates
through five business segments, namely, instrumentation, analytical lab
services, analytical lab consumables, diagnostics & genomics solutions, and
informatics & others. Agilent operates in the Americas, Europe, the Middle
East, Asia, and Africa. The company focuses on organic as well as inorganic strategies
such as product launches, collaborations, agreements, and partnerships to
maintain its position in the market. For instance, in 2016, the company
launched diagnostic tests complementary to cancer biomarker products.
https://www.marketsandmarkets.com/PressReleases/oncology-biomarkers-market.asp
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