The genomic biomarkers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Genomic Biomarkers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The genomic biomarkers market size has grown rapidly in recent years. It will grow from $6.34 billion in 2023 to $7.42 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to the rising emphasis on various genetic testing activities, growing cases of chronic diseases, growing emphasis on precision medicine initiatives, growing adoption of companion diagnostics, and rising number of patients with neurological diseases.
The genomic biomarkers market size is expected to see rapid growth in the next few years. It will grow to $14.09 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to the increasing number of ovarian and gastric cancer cases, growing acceptance and awareness of genetic testing, increasing use of genomic biomarkers in cancer diagnosis and treatment, increasing number of cancer patients, and growing adoption of companion diagnostics. Major trends in the forecast period include next-generation sequencing (NGS), integration with other omics, genomic technological advancements, product innovations, and advanced healthcare services.
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Scope Of Genomic Biomarkers Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Genomic Biomarkers Market Overview
Market Drivers –
The increasing demand for personalized medicine is expected to propel the growth of the genomic biomarkers market going forward. Personalized medicine, also known as precision medicine, is a medical approach that tailors healthcare decisions and treatments to the individual characteristics of each patient, primarily based on their genetic and genomic information. The increasing demand for personalized medicine is due to several factors, such as the growing emphasis on patient-centered care, genetic sequencing and analysis advances, a patient-centric approach, and the use of EHRs to store and analyze patient data. Genomic biomarkers play a crucial role in personalized medicine by enabling healthcare providers to tailor medical treatments to an individual’s unique genetic makeup. This approach, also known as precision medicine, aims to optimize the effectiveness of treatments and minimize side effects by considering the genetic differences between individuals. For instance, in 2022, according to the Personalized Medicine Coalition, a US-based professional membership organization, 12 new customized medications were approved in 2022, accounting for around 34% of all newly approved treatments and a 34% increase over prior years. Therefore, the increasing demand for personalized medicine drives the growth of the genomic biomarkers market.
Market Trends –
Major companies operating in the genomic biomarkers market are focused on developing innovative products, such as lung reagents, to enhance the detection of specific genetic mutations in lung cancer, improve diagnostic accuracy, and facilitate personalized treatment approaches by leveraging advanced genomic technologies. Lung reagents refer to specialized chemical or biological substances used in diagnostic tests, research, or medical procedures related to the lungs helping in precision medicine by guiding treatment choices based on the specific genetic profile of the cancer. For instance, in December 2023, Biofidelity, a UK-based company specializing in developing advanced genomic assays and precision diagnostics, launched ASPYRE-Lung reagents. The ASPYRE-Lung reagents are designed to identify key genetic mutations and alterations in lung cancer, which are critical for guiding targeted therapies and personalized treatment strategies.
The genomic biomarkers market covered in this report is segmented –
1) By Type: Predictive Biomarkers, Prognostic Biomarkers
2) By Disease Indication: Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Other Disease Indications
3) By Validation: Analytical Validation, Clinical Validation, Clinical Utility
4) By End-User: Hospitals, Diagnostic Centers, Other End User
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Regional Insights –
North America was the largest region in the genomic biomarkers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomic biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the genomic biomarkers market are Thermo Fisher Scientific Inc., Roche Diagnostics International Ltd., Illumina Inc., PerkinElmer Inc., Almac Group, Azenta Inc., Novogene Corporation, Oxford Nanopore Technologies Ltd., Celerion, Quanterix Corporation, Bio-Rad Laboratories Inc., NantHealth Inc., Centogene N.V., Sophia Genetics SA, Envisagenics, Deep Genomics, Creative Diagnostics, Macrogen Inc., Guardant Health Inc., Sema4
Table of Contents
1. Executive Summary
2. Genomic Biomarkers Market Report Structure
3. Genomic Biomarkers Market Trends And Strategies
4. Genomic Biomarkers Market – Macro Economic Scenario
5. Genomic Biomarkers Market Size And Growth
…..
27. Genomic Biomarkers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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