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- Global Biomarker Technologies Market
Global Biomarker Technologies Market to Reach US$ 113.4 Billion by 2032, Driven by Increasing Focus on Personalized Medicines
June 23, 2023
| Healthcare
According to the latest report by IMARC Group, titled “Biomarker Technologies Market Report by Test Type (Solid Biopsy, Liquid Biopsy), Indication (Cancer, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, and Others), Product (Consumables, Assay, Reagent, Instruments), Technology (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Immunoassay, and Others), Application (Drug Discovery, Clinical Diagnostics, Personalized Medicine), and Region 2024-2032,” the global biomarker technologies market size reached US$ 40.2 Billion in 2023. Biomarker technologies refer to the various methods and tools used to identify, measure, and analyze biomarkers in biological samples. Biomarkers are measurable indicators, such as molecules or genetic changes, that provide information about biological processes, disease presence, or treatment responses. The goal of biomarker technologies is to improve disease detection, optimize treatment outcomes, and enhance patient care by providing objective and quantifiable measures of biological processes. They have applications across various fields, including clinical medicine, pharmaceuticals, diagnostics, and research, contributing to advancements in healthcare and precision medicine. Biomarker technologies encompass a wide range of techniques and platforms, including genomics, proteomics, metabolomics, imaging, immunoassays, and molecular diagnostics. These technologies enable the discovery, validation, and application of biomarkers for various purposes, such as disease diagnosis, prognosis, monitoring, and drug development. These technologies involve the use of advanced laboratory equipment, bioinformatics tools, and data analysis techniques to identify and measure specific biomolecules or genetic alterations associated with diseases or physiological changes. Biomarker technologies play a critical role in personalized medicine by aiding in patient stratification, treatment selection, and monitoring of therapeutic efficacy.
Global Biomarker Technologies Market Trends:
The rising demand for personalized medicines represents one of the key factors driving the growth of the market across the globe. This, coupled with the increasing focus on personalized healthcare and targeted therapies and enabling the identification and monitoring of specific biological indicators associated with diseases or treatment responses, is acting as a growth-inducing factor. The market is also driven by the rising prevalence of chronic diseases, such as cancer, cardiovascular disorders, diabetes, and neurological conditions, which is creating a need for effective diagnostic and prognostic tools. In line with this, biomarker technologies offering the potential to detect diseases at early stages, predict patient outcomes, and guide treatment decisions, are contributing to the growth of the market. In addition to this, the rising shift toward non-invasive or minimally diagnostic approaches, along with the increasing awareness regarding non-invasive biomarker tests, such as liquid biopsies or breath tests, are facilitating the growth of the market. Apart from this, significant technological advancements in biomarker technologies, such as high-throughput screening methods, next-generation sequencing, mass spectrometry, and digital imaging, are boosting the growth of the market. These advancements enhance sensitivity, specificity, and the ability to analyze multiple biomarkers simultaneously, thus driving the market growth. Moreover, rapid advancements in genomics, proteomics, and other omics technologies, the increasing research and development (R&D) activities, the rising focus on discovering novel biomarkers and validating their clinical utility, increasing geriatric population, and favorable regulatory frameworks and reimbursement policies for biomarker-based diagnostics and companion diagnostics, are some of the other factors creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 113.4 Billion by 2032, expanding at a CAGR of 11.8% during 2024-2032.
Market Summary:
- Based on test type, the market has been classified into solid biopsy and liquid biopsy. Currently, liquid biopsy holds the largest market share worldwide.
- On the basis of indication, the market has been segmented into cancer, infectious diseases, autoimmune disorders, cardiovascular disorders, and others. Currently, cancer is dominating the market across the globe.
- Based on product, the market has been segregated into consumables, assay, reagent, and instruments. Presently, consumables is holding the largest market share worldwide.
- On the basis of technology, the market has been segmented into polymerase chain reaction (PCR), next generation sequencing (NGS), immunoassay, and others. Currently, immunoassay is dominating the market across the globe.
- Based on application, the market has been segregated into drug discovery, clinical diagnostics, and personalized medicine. Presently, drug discovery is holding the largest market share worldwide.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, North America is dominating the market across the world.
- The competitive landscape of the market has also been examined with some of the key players being Agilent Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Illumina Inc., LI-COR Inc., Merck KGaA, PerkinElmer Inc., QIAGEN N.V., Shimadzu Corporation, Thermo Fisher Scientific Inc. and Waters Corporation.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Test Type, Indication, Product, Technology, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Agilent Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Illumina Inc., LI-COR Inc., Merck KGaA, PerkinElmer Inc., QIAGEN N.V., Shimadzu Corporation, Thermo Fisher Scientific Inc. and Waters Corporation |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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