The global predictive biomarkers market is expected to register a steady revenue CAGR during the forecast period, according to the latest analysis by Emergen Research.
The global predictive biomarkers market is expected to register a steady revenue CAGR during the forecast period, according to the latest analysis by Emergen Research. The market revenue growth is being driven by an increase in chronic diseases like cancer, cardiovascular disease, and others. Neurodegenerative disorders affect billions of individuals globally. The two most prevalent neurodegenerative illnesses are Alzheimer's disease and Parkinson's disease. According to an estimate by the Alzheimer's Disease Association, in the U.S., 6.2 billion people may have Alzheimer's disease in 2022. Age significantly increases the risk of acquiring a neurodegenerative disease. Given the increase in life expectancy, more Americans may develop neurodegenerative disorders in the coming decades.
Increasing adoption of predictive biomarkers for diagnosis and prognosis of the disease is another key factor contributing to revenue growth of the market during the forecast period. In addition, rapid advancements in biomarkers are also contributing to market revenue growth. For instance, on 13 July 2022, Laboratory Corporation of America Holdings, which is a global life sciences company announced the availability of the first widely used test that shows neurodegeneration and neuronal damage. The new Neurofilament Light Chain (NfL) blood test will enable medical professionals to identify and confirm signs of neurodegenerative disease and provide patients with a more rapid and precise method of diagnosis and care. Elevated NfL levels are a sign of neuronal damage, which can be caused by diseases like Parkinson's, Alzheimer's, and multiple sclerosis as well as brain injuries like concussions.
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Some Key Highlights From the Report
- Cancer segment accounted for a significant revenue share in 2021. Increasing incidence of cancer such as lung, breast, leukemia, and others across the globe is a major factor driving revenue growth of the segment. According to the World Health Organization (WHO), roughly 10 Billion deaths, or nearly one in six deaths, were caused by cancer in 2020, making it the top cause of death globally. The use of tobacco, having a high body mass index, drinking alcohol, eating few fruits and vegetables, and not exercising account for about one-third of cancer-related fatalities. In low- and lower-middle-income countries, cancer-causing infections including the Human Papillomavirus (HPV) and hepatitis are thought to be the cause of 30% of cancer cases.
- Diagnostic centers segment accounted for a significant revenue share in 2021. Increasing patients’ awareness regarding various benefits associated with biomarkers is a key factor driving revenue growth of the segment. As the etiology of cancer varies from patient to patient, predictive biomarkers analyze the main etiological elements to search for tumor growth in patients. In addition, these biomarkers help determine the most affordable treatment plans, particularly for biologics based on gene therapy in addition to helping in the early diagnosis of cancer.
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- Market in North America accounted for the largest revenue share in 2021. Significant investments in healthcare facilities is a key factor driving market revenue growth in this region. In addition, the rising incidence of cancer such as breast, lung, and others is also contributing to market revenue growth. Major companies operating in various countries in this region are investing in expanding their operations. In addition, they are collaborating to expand their product portfolio. For instance, on 9 June 2020, Thermo Fisher Scientific announced the expansion of its strategic partnership with Agios Pharmaceuticals by adding the co-development of a second Companion Diagnostic (CDx) for oncology. The CDx utilizes the Oncomine Precision Assay, which is powered by the new Ion Torrent Genexus System, to locate Low-Grade Glioma (LGG) patients who have isocitrate dehydrogenase 1 and 2 (IDH1 and IDH2) mutations and may be candidates for vorasidenib treatment (AG-881).
- Some major companies in the global market report include Siemens Healthcare GmbH, F. Hoffman-La Roche Ltd, General Electric Company, Abbott, QIAGEN, Johnson and Johnson Services, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Almac Group, and Merck KGaA.
- On 19 April 2021, Amgen Inc, a biotechnology company based in California, U.S. announced the start of a program called Biomarker Assist to make biomarker testing more accessible to patients with metastatic (stage IV) Non-Small Cell Lung Cancer (NSCLC). A crucial initial step in placing patients on the appropriate course of treatment is biomarker testing at the time of diagnosis. Eligible patients may receive discounts on biomarker testing through biomarker assist.
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Emergen Research has segmented the global predictive biomarkers market on the basis of indication, end-use, and region:
- Indication Outlook (Revenue, USD Billion; 2019-2030)
- Cancer
- Neurological Disorder
- Cardiovascular Disorder
- Immunological Disorder
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Diagnostic Centers
- Contract Research Organizations (CROs)
- Academic Research Institutes
- Pharma and Biotech companies
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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