Need for Early Disease Diagnosis to Push Biomarkers Market Past US$ 278 Bn by 2032
In the latest study, Fact.MR offers a comprehensive analysis on the global biomarkers market for the upcoming decade. The report also explicates the key factors such as growth drivers, opportunities, and trends across multiple segments including disease type, type, and application across seven major regions.
NEW YORK, March 30, 2022 /PRNewswire/ — Fact.MR – A Market Research and Competitive Intelligence Provider: The overall sales of biomarkers were valued at around US$ 59.1 Bn in 2021. According to Fact.MR, the biomarkers market is expected to reach a valuation of US$ 278 Bn, exhibiting growth at a CAGR of 15.3% between 2022 and 2032.
Biomarkers are increasingly used for the diagnosis of cancer, especially across the U.S., India and Japan. According to the American Cancer Society report, around 609,640 people succumbed to cancer in the U.S and over 1.9 million new cancer cases were diagnosed worldwide in 2021. Hence, to curb the global burden, the demand for biomarkers is estimated to rise in the coming years.
Also, rising use of biomarkers in validation and development of personalized medicines will create remunerative prospects for the growth in the market. Moreover, increasing number of people at a risk of developing chronic diseases like neurological disorders, cardiovascular disease, and kidney disorders is likely to promote the sales of biomarkers.
For Critical Insights on this Market, Request for More Info at:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7181
Advancements in genomics has helped biopharmaceutical researchers to focus on identifying biomarkers such as the HER2 positive gene mutation. Such findings are expected to aid the development of personalized treatments, thereby, propelling the demand for biomarkers.
In addition to this, rising use of biomarkers to quantify the susceptibility of an individual to various diseases is pushing the demand for molecular biomarkers. This is likely to create lucrative sales prospects for biomarkers.
Further, pharmaceutical companies are using biomarkers on a large scale to analyze and discover novel drug. This is due to the increasing demand for efficient and cost effective treatment dose. Hence, the rising need for new drugs is likely to boost the market.
Subsequently, the use of DNA fingerprinting technology is gaining immense traction in the countries such as India, the U.S., and the U.K. It is extensively used to identify criminals through the unique DNA patterns. Such technological advancements are projected to augment the sales in the market.
|
Report Attributes |
Details |
|
Base Year Value (2021A) |
US$ 59.1 Bn |
|
Projected Year Value (2032F) |
US$ 278 Bn |
|
Global Growth Rate (2022-2032) |
CAGR 15.3% |
Key Takeaways:
- Based on type, the safety segment is estimated to register growth at 15.9% CAGR during the forecast period.
- In terms of disease type, the cancer segment is projected to exhibit growth at 17.1% CAGR during 2022-2032.
- Asia Pacific is anticipated to record fastest growth rate owing to increasing use of biomarkers in personalized medicines.
- The U.S. is anticipated to dominate the market owing to the increasing research and development activities in the molecular biomarkers.
- Japan biomarkers market is projected to witness fastest growth in East Asia, registering 17.2% CAGR.
Growth Drivers:
- Increasing use of biomarkers to assess the effectiveness of the drug is projected to spur the sales of biomarkers.
- Integration of advanced data management technology and key imaging in biomarkers for early diagnosis of cancer will create lucrative opportunities for the market.
Restraints:
- The lengthy timelines for validating biomarkers is likely to hinder the growth in the market.
- High capital investments in the development due to the need for extensive clinical validation will limit the sales of biomarkers in the coming years.
To Gain In-Depth Insights on Biomarkers Market, Request Methodology at
https://www.factmr.com/connectus/sample?flag=RM&rep_id=7181
Competitive Landscape:
Key players operating in the global biomarkers market are advancing their technologies and manufacturing capabilities to update their product line. They are also focusing on expanding their consumer base through introducing advanced products for early diagnoses of chronic diseases.
Besides this, some of the organizations are also adopting new strategies such as collaborations, joint ventures, contract, and acquisitions to strengthen their global footprint.
For instance,
- July 2020: Chugai and Thermo Fisher Scientific signed an agreement with the goal of commercialization oncomin Dx targeted tests for use in patients with non-small cell lung cancer (NSCLC). They also plan to expand the use of other local biomarker tests.
- April, 2021: F. Hoffmann La Roche Ltd. Introduced two cardiac biomarker tests, the N-Terminal Pro Brain Sodium Diuretic Peptide Test (NTproBNP) and the Sensitive Cardiac Troponin T (cTnThs). These biomarker tests help in the management of cardiovascular diseases by helping the doctors diagnose heart attacks and manage heart failure.
Key Companies Profiled by Fact.MR
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- Siemens Healthineers AG
- Epigenetics AG
- General Electric
- F. Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories, Inc.
- Johnson & Johnson Services, Inc.
- Qiagen
More Valuable Insights on Biomarkers Market
In the latest report, Fact.MR provides a detailed market study on the global biomarkers market for the forecast period of 2022 to 2032. The report also offers key factors expected to shape the future growth prospects of the biomarkers market with detailed segmentation as follows:
By Disease Type:
- Cardiovascular Diseases
- Cancer
- Neurological Diseases
- Immunological Diseases
- Other Disease Types
By Type:
- Safety
- Efficacy
- Validation
By Application:
- Diagnostics
- Drug Discovery & Development
- Personalized Medicines
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania (SAO)
- Middle East & Africa (MEA)
To Remain ‘Ahead’ of Your Competitors, Buy the Report Now!
https://www.factmr.com/checkout/7181
Key Questions Covered in Biomarkers Market Report
- What was market size of the global biomarkers market in 2021?
- What is the anticipated growth rate of the global biomarkers market during 2022-2032?
- Which are the factors driving the growth of the biomarkers market?
- What is the estimated market value of biomarkers market during the forecast period?
- Who are the prominent biomarkers manufacturers?
- What was growth rate of the global biomarkers market during 2017-2021?
Explore Fact.MR’s Coverage on the Healthcare Domain –
Cancer Biomarkers Market Trends: Rising incidence of debilitating cancers are fueling the demand for cancer biomarkers. In addition to this, growing preference toward personalized medicine for cancer treatment owing to absence of standard diagnosis and treatment will further bolster the growth in the market.
Vocal Biomarker Market Growth: Use of vocal patterns by clinical psychologists and psychoanalysts to analyze personality traits of patients is projected to increase the sales of vocal biomarker. Also, the ability of the vocal biomarkers in remote health monitoring is likely to create remunerative prospects for the market.
Tuberculosis Biomarkers Market Forecast: Increasing mortality rates due to tuberculosis and the emergence of multidrug-resistant tuberculosis is projected to increase the demand for tuberculosis biomarkers. Furthermore, the use of biomarkers in personalized medicines and drug discovery & development is expected to influence the growth in the market.
