According to the research report, the global Genomic Biomarkers Market size & share was valued at USD 3.52 Billion in 2020 and is expected to reach USD 10.68 Billion By 2029, to grow at a CAGR of 12.4% during the forecast period.
Developments in genomics and biotechnology have steadily explored the biology of several diseases diverseness amidst illnesses with similar diagnoses at a level that is molecular. An in-depth comprehension of disease biology makes possible the advancement of biomarkers that are effective or diagnostics tests for choosing the correct cure for individual patients. Expressly, the latest initiation of extreme production molecular assay technologies like single-nucleotide polymorphism arrays, microarrays relating to gene expression, and protein arrays has permitted the discovery of prospective new biomarkers. The advancement of compound genomic trademarks for medicine that is personalized.
Two kinds of biomarkers are specifically crucial, predictive and prognostic biomarkers. Predictive biomarkers are baseline estimations that offer information about which patients are likely or unlikely to take advantage of. A predictive biomarker is usually delegated to use a specific new treatment as a counterpart predictive biomarker in the progression of further treatment. Predictive biomarkers are pre-treatment computations that offer long-term outcomes of untreated patients or those who are acquiring the standard treatment. Prognostic biomarkers mirror the baseline risk and may not point towards the responsiveness of a specific treatment like predictive biomarkers. Still, they can recommend some treatments for patients who experience a standard treatment.
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Genomic biomarkers market: Growth leading factors
The growing overload of chronic diseases like heart attack, stroke, arthritis, and cancer is anticipated to propel the growth of genomic biomarkers. The cases of cancer will rise due to detrimental lifestyle, smoking, and lessened physical activities. It will generate chances for the genomic biomarker market as a clinical diagnostic tool and help advance therapy that is personalized that will additionally push the growth.
Further, the growing number of R&D pursuits for recognizing new genomic biomarkers and obtaining specificity that is advanced is linked with the usage of genomic biomarkers is anticipated to assist in the market growth. A survey revealed that a sizeable number of patients had colorectal cancer and fine people as control displayed the usage of circulating cfDNA as a genomic biomarker for the identification of colorectal cancer showed a higher specificity rate. The specificity was deemed more elevated than the genomic biomarker detection utilizing outright concentration of DNA. This new revelation will drive market growth.
Due to the covid-19 pandemic, there has been an increase in the total supply chain of the biotechnology industry, precisely because of stringent lockdown in many regions. The pandemic has influenced the advancement, production, and supply of healthcare products a d impacted the business of several companies functioning in the healthcare sector worldwide. The pandemic has accelerated the shutting down of industrial establishments, excluding essential commodities and disturbance in the healthcare products supply chain.
Global Genomic Biomarkers Market: Report Scope
Report Attribute
Details
Market Size 2020 Value
USD 3.52 Billion
Market Outlook for 2029
USD 10.68 Billion
Expected CAGR Growth
12.4% from 2021 – 2029
Base year
2020
Forecast period
2021 – 2029
Segments covered
By Type, By Validation, By Disease Indication, By End-Use, By Region
Key Companies
Thermo Fisher Scientific Inc.; Myriad Genetics, Inc.; Bio-Rad Laboratories, Inc.; Eurofins Scientific; F. Hoffmann-La Roche Ltd.; MedGenome; Almac Group; Qiagen; Transgenomic Ltd.; Sema4.; Creative Diagnostics; Cancer Genetics Inc.; Genome Life Sciences; Foundation Medicine, Inc.; Centogene N.V.; and Quanterix.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Genomic biomarkers market: Key segmentation
By type, predictive biomarkers will be a dominant segment as they will be considered advantageous in recognizing the evolution of aggressive tumors in cancer patients. By validation, analytical validation rules the roost as kit underpins the measurement of biomarkers and involves all factors relative to assay and relies upon the appropriateness of the critical reagents, samples, and the presentation features of the test system. Dependent on disease indication, the oncology segment is anticipated to spearhead the market’s growth. This increase is because of the prevalence of several cancers like prostate, breast, and lung. Therefore, the push-in target therapies, technological progressions, and dependability on oncology biomarkers push the market growth. By end-use, biomarkers are utilized in hospitals for diagnostic purposes. For instance, the RAPID DX assay is executed to discover outlying neuropathy linked with diabetes type II or renal disease.
By region, the North American region is anticipated to observe the highest growth in context to revenue. The market is driven by components like growing concentration and increasing concentration on personalized medicine, an increase in the number of studies related to research, and increasing financing towards the advancement of new therapeutics. The Latin American region is also appearing as a force in the field of genomic biomarkers to advance novel drugs and therapies because of the extensive pool of population of the patient. Brazil is faced with an increasing number of cancer cases rendering it a prospective market for genomic diagnostic tests. In Europe, due to the growing existence of chronic diseases and increasing elderly population, specifically in Western European countries like France, Germany, UK, and Italy, which is known for robust infrastructure for healthcare which assists in driving the market growth.
Browse the full “Genomic Biomarkers Market Share, Size, Trends, Industry Analysis Report, By Disease Indication (Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Others); By Validation; By Type; By End-Use; By Region; Segment Forecast, 2021 – 2029” Report at https://www.polarismarketresearch.com/industry-analysis/genomic-biomarkers-market
The market primarily depends on the type, validation, disease indication, end-user, and region
Genomic biomarkers market: By type
Genomic biomarkers market: By validation
Genomic biomarkers market: By disease indication
Genomic biomarkers market: By end-use
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