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DeciBio Forecasts the Global Clinical Oncology Biomarker Testing Market to Grow at 13% p.a., Reaching ~$12.6B in 2028 – Market Report by DeciBio Consulting LLC

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DeciBio Consulting LLC’s latest market report, “Global Clinical Oncology Biomarker Testing Market Report, Second Edition: 2023-2028,” states that the global clinical oncology biomarker testing market is predicted to reach $12.6B by 2028, driven by increased access to precision medicine therapeutics.

The second edition of DeciBio’s Clinical Oncology Biomarker Testing Report takes a comprehensive look at biomarker testing for patient stratification, therapy selection, and prognosis for cancer treatment globally, including both products (kits) and services. Informed by a combination of primary research, secondary research, and proprietary DeciBio databases and tools, this report provides a quantitative and qualitative assessment of key segments (e.g., by end customer, cancer type, analyte, technology, sample type, and geography). In addition, this report details market drivers (e.g., the growing number of predictive markers across cancer types, growing use of liquid biopsy), moderators (e.g., lack of access to precision medicine therapeutics in certain markets, insufficient test reimbursement for some technologies), key market trends, and profiles of top players in the space.

NGS, PCR, and IHC are the primary technologies utilized for clinical biomarker testing today. Increased access to each of these technologies, as well as to the precision medicines requiring testing, is expected to drive significant growth of the biomarker testing market in the near-mid term. DeciBio Principal Colin Enderlein emphasizes that, “We’re seeing a growing number of first-line and pan-cancer biomarkers on drug labels, driving more testing at diagnosis vs progression, which means a greater chance of picking up actionable markers early on. When combined with more neoadjuvant and adjuvant approvals, we’re seeing precision medicine unlocked for much larger populations”.

This report builds upon a growing library of proprietary DeciBio market reports, which are leveraged by the leading biopharma, diagnostics, and research tools companies globally to inform strategic decision making. DeciBio Partner, Andrew Aijian, reinforces the relevance of this new report, stating, “Despite being the most mature segment of the precision medicine market, the competitive, regulatory, technological, and clinical landscape for precision oncology is as dynamic as ever. These market dynamics, which we detail in this report, create exciting growth opportunities for both established and emerging diagnostic players.”

Report Details

Research Methods
  • Secondary research: analysis of clinical trials, publications, quarterly and annual reports, earnings call transcripts, company websites

  • Primary research: interviews with 28 oncologists, pathologists, and pharma stakeholders across the U.S., EU, APAC, and rest of the world

  • Proprietary Databases / Analysis: use of internal databases and tools (e.g., TheraTrack, BioTrack, Dexter expert network)

2028 Market Size

$12.6 billion

CAGR (2023-2028)

13%

Base Year

2023

Forecast Period

2023-2028

Market / Forecast Currency

USD

Report Coverage

Market size, segmentation, and forecast; key market players and trends; assays and technologies; market drivers and moderators; competitive analysis

Segments Covered
  • End customer (clinical)

  • Cancer Type (lung cancer, breast cancer, colorectal cancer, prostate cancer, other solid tumors)

  • Analyte (genomics, proteomics, transcriptomics, other)

  • Technology Class (NGS, PCR, IHC, other)

  • Business Model (in-house / kits, send-out / services)

  • Sample Type (tissue, blood, other)

  • Geography (U.S., Europe, APAC, rest of the world)

Learn more about DeciBio’s Global Clinical Oncology Biomarker Testing Market Report, Second Edition: 2023-2028: www.decibio.com/product/global-clinical-oncology-biomarker-testing-market-report

Companies Profiled in the Report:

  • Agilent

  • Caris Life Sciences

  • Foundation Medicine

  • Guardant Health

  • Illumina

  • Roche

  • Tempus

  • ThermoFisher Scientific

Clinical Oncology Biomarker Testing – Market Analysis:

Market Drivers

The use of predictive and prognostic biomarker testing in oncology is expected to see high growth in the coming years. As the number of predictive markers grows, testing will continue to increase across indications. In some cases (notably advanced stage disease), the growing number of predictive markers will catalyze some conversion from PCR to more expensive NGS testing. A recent focus on expanding approvals of precision medicine therapeutics into earlier stages of disease is also contributing to higher testing rates, as the pool of patients eligible for testing expands. Similarly, greater access to the technologies supporting biomarker testing in emerging markets (e.g., NGS, PCR, and IHC) will enable higher volumes of biomarker testing.

Market Moderators

Though the market is poised for growth, barriers to broader biomarker testing persist that may moderate the pace at which the market grows. Patient access to precision medicine therapeutics is one of the greatest factors moderating overall testing rates, as delays in access to therapeutics (e.g., PARP inhibitors ex-U.S.) limit testing for certain biomarkers. Reimbursement for both therapeutics and biomarker testing, also plays a large role, as certain technologies and modalities (e.g., NGS, LBx) have limited reimbursement globally. Additionally, increased regulatory oversight in the U.S. and Europe may increase costs for developing IVD assays, lengthen timelines for test development, and create barriers for timely patient access to testing.

About DeciBio:

DeciBio Consulting (www.decibio.com) is the leading strategy consulting, market intelligence, and SaaS firm dedicated to accelerating innovation in precision medicine.

Headquartered in Los Angeles, California, DeciBio serves a global base of clients and customers, ranging from startups to Fortune 500 healthcare corporations. DeciBio offers advisory services for growth planning, market and opportunity assessment, product and portfolio strategy, voice-of-customer feedback, technology assessment, and commercial due diligence.