Genomic Biomarkers Market Size Projected to Reach $10.68 Billion by 2029 | CAGR: 12.4%: Polaris Market Research

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.

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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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Key highlights of the report

Transferring dynamics of the industry
Detailed segmentation of the market
Current, historical, and estimated industry size and latest industry trends
Significant competition terrain
The game plan of significant players and offering of the products
Possible and functional regions displaying growth that is promising
An unbiased viewpoint towards the performance of the market

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Top Market Players:

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.
Quanterix

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Important Questions Being Answered by The Market Report

What is the market growth and size?
What is the study period of the market?
What are the significant players functioning in the market globally?
What are the prominent regions in the market?
What are the significant factors driving the market growth?

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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.

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Genomic biomarkers market: Key segmentation

Insight by type, validation, disease indication, end-user, and region

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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 β€œGenomic 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

Predictive Biomarkers
Prognostic Biomarkers

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Genomic biomarkers market: By validation

Analytical Validation
Clinical Validation
Clinical Utility

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Genomic biomarkers market: By disease indication

Oncology
Cardiovascular Diseases
Neurological Diseases
Renal Disorders
Others

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Genomic biomarkers market: By end-use

Hospitals
Diagnostic Centres
Others

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