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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Los Angeles, CA

January 3, 2024

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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.”  

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

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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.