Personalized medicine continues to transform the field of clinical oncology across the spectrum of patient care. Oncology biomarker testing is now used for applications including treatment selection, prognosis, and monitoring drug response / tumor progression. We forecast that the cancer biomarker testing market size will grow at ~11% p.a. from ~$2.7B in 2017 to ~$3.7B in 2020. The near-term growth is driven primarily by the global personalized medicine initiatives and evolving regulatory and reimbursement landscapes in the U.S. that are designed to make biomarker-based diagnostic tests more accessible to patients. While treatment selection is the most established application within oncology biomarker testing, advances in technology and increasing shift of focus to blood-based biopsies are expected to continue to drive developments in other areas of unmet needs such as screening and early detection of cancer.
The first edition of this report reviews the market size, segmentation, growth and trends of the oncology biomarker test manufacturer / provider (i.e., excluding instruments and service fees associated with labor and shipping) market. We assess the oncology biomarker testing market across 4 segments:
For each of these segments, we provide the market size and growth from 2017 to 2020, as well as commentary on key growth drivers and moderators.
Major factors driving future growth include: