The Predictive Biomarkers Market Size is predicted to witness a 14.27% CAGR during the forecast period for 2023-2031.
Predictive biomarkers are biological traits or molecular signals that can predict how a person might respond to a specific treatment or intervention. These biomarkers are used in a variety of sectors, such as medicine, pharmacology, and personalized healthcare, to forecast a patient's reaction to a given medication or to identify individuals who are more likely to benefit from a specific treatment. The growing emphasis on personalized treatment and targeted medicines has been a major driving force in the predictive biomarkers market. The need for biomarker-based diagnostics and therapeutics has increased as healthcare practitioners strive to improve treatment outcomes while minimizing side effects.
However, the pandemic hampered clinical trials in a variety of therapeutic fields, including those using predictive biomarkers. Many trials were halted, postponed, or adjusted to address safety concerns and alter healthcare priorities.
Competitive Landscape:
Some major key players in the Predictive Biomarkers Market:
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- Hoffmann-La Roche AG
- Bio-Rad Laboratories, Inc.
- Agilent Technologies, Inc.
- Illumina Inc.
- Merck KGaA
- Bio-Techne Corporation
- Siemens Healthineers AG
- PerkinElmer, Inc.
- Myriad Genetics, Inc.
- Becton, Dickinson and Company
- Danaher Corporation
- Genomic Health, Inc.
- Pacific Biosciences of California, Inc.
- Others
Market Segmentation:
The Predictive Biomarkers Market is segmented on the basis of indication and end-use. As per the segment indication, the market is segmented as cancer, neurological disorder, cardiovascular disorder, immunological disorder, and others. The end-user segment includes diagnostic centers, Contract Research Organizations (CROs), academic research institutes, pharma & biotech companies, and others.
According To End-Use, The Diagnostic Centers' Segment Is Accounted As A Significant Contributor In The Predictive Biomarkers Market
The diagnostic centers' category is expected to hold a major share of the global Predictive Biomarkers Market in 2022. The increasing use of biomarkers in the detection of diseases such as cancer and others is a primary element driving the segment's revenue growth. The widespread availability of Deoxyribonucleic Acid (DNA) biomarker tests is helping to drive revenue growth in this market. Other important factors driving revenue growth in the market during the projected period include rapid technical breakthroughs and the use of technologies such as microarrays, next-generation sequencing techniques & mass spectrometry for nucleic acids.
The Cancer Segment Witnessed Growth At A Rapid Rate
The cancer segment is projected to grow at a rapid rate in the global Predictive Biomarkers Market. The rising incidence of cancer around the world is primarily responsible for the segment's growth. Cancer is the leading cause of death in every country and a substantial impediment to extending life expectancy. According to the American Cancer Society, there will be about 236,740 lung cancer patients in the United States by 2022. Additionally, increased demand for personalized medication is contributing to the segment's revenue growth.
In The Region, The North American Predictive Biomarkers Market Holds A Significant Revenue Share
The North American Predictive Biomarkers Market is expected to register the maximum market share in terms of revenue in the near future. Significant investments in healthcare infrastructure, as well as the quick use of biomarkers, are key drivers of market revenue development in this area. Rising cancer and other disease incidences are driving market revenue growth. Market enterprises operating in this region's various countries are establishing awareness programs connected to disease diagnosis and early screening, as well as the search for potential treatment solutions.
These activities have a substantial impact on market revenue growth. Moreover, Europe is expected to grow significantly in the coming years. Rapid technical improvements, as well as the presence of firms such as F. Hoffman-La Roche Ltd., Siemens Healthcare GmbH, and others, are driving market revenue growth in this region. Significant investments in R&D activities are helping the market's revenue growth in this region.
Predictive Biomarkers Market Report Scope:
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 14.27 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Indication, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Thermo Fisher Scientific Inc., Qiagen N.V., F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Illumina Inc., Merck KGaA, Bio-Techne Corporation, Siemens Healthineers AG, PerkinElmer Inc, Pacific Biosciences of California, Inc., Genomic Health, Inc., Danaher Corporation, Becton, Dickinson and Company, and Myriad Genetics, Inc |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
