North America Cancer Biomarkers Market Overview:
The North America Cancer biomarkers Market was estimated at $ 4306.7 million in 2018 and is expected to reach $ 8560.0 million by 2025, growing at a compound annual rate of 10.68% over the 2018-2025 forecast period.
Drivers, Challenges and Opportunities:
Research on the incidence of cancer is considered as one of the main drivers of growth in the cancer biomarker market in North America. In addition, the increase in the use of cancer biomarkers in the development of drugs and the concept of personalized drug use should lead to the growth of the market in the near future. On the other hand, it is expected that the low wage cost ratio and high capital investment will limit the future growth of the market.
The North American cancer biomarker market is mainly driven by an increase in the incidence of cancer, the greater importance of specific and biological pharmaceutical therapies, and the precision and reliability of cancer biomarkers for technological development and cancer detection. In addition, the increase in investment in public and private sectors for the research of biomarkers and the technological advances in diagnosis of cancer has a positive impact on the market. But the threat of failure, the high cost of unregulated government regulations and reimbursement policies are hampering the market boom.
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However, the impact of these limitations is expected to decrease due to a strong increase in the diagnosis of cancer, as well as an increase in interest in advanced treatment protocols. Even so, it is expected that increased opportunities in developing countries and complementary diagnoses will support the growth of the regional cancer biomarker market in the coming years.
Geographic Segmentation:
It is expected that North America will represent a significant part of the world market and will remain at the forefront during the next few years. The high growth in the region may be due to the increase in the prevalence of cancer and the increase in health spending. In addition, the increase in diagnostic tests and the increase in the demand for health services and technological advances are some of the main drivers that expect to promote the North American market growth over the next few years.
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Key market players:
Some of the leading players in the market are Laboratoris Abbott; F. Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & amp; Inc.; Hologic, Inc.; Sino Biological Inc.; Becton, Dickinson and Company son actors clau al mercat.
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