Cancer Biomarkers Market Expected to Reach $33B by 2025
According to Grand View Research, the market for cancer biomarkers is expected to grow from $10.3B in 2016 to $33.7B by 2025, representing a compound annual growth rate (CAGR) of 14.6%. The market is currently comprised primarily of genetic biomarkers that have good predictive value on a population basis, but limited value on an individual patient basis. Proteomic markers represent a growing segment of the cancer biomarker market and may offer the promise to improve individual patient outcomes based upon the individual patient’s tumor proteomic profile.
Within the proteomic cancer biomarker category, phosphoprotein analysis represents a uniquely positioned asset class that may more robustly predict treatment outcomes based upon the molecular mechanisms driving tumor growth and treatment resistance. As such, the Company believes it has the potential to be the market leader in this phosphoproteomic category.