By Biomarker Type, Safety Biomarkers Are Expected To Be The Maximum Revenue Generating Biomarker And Are Anticipated To Witness A Growth Of 15.9% During Forecast Period
By Biomarker Type, Safety Biomarkers Are Expected To Be The Maximum Revenue Generating Biomarker And Are Anticipated To Witness A Growth Of 15.9% During Forecast Period
Fact.MR – A Market Research and Competitive Intelligence Provider: The global sales of Biomarkers in 2021 was valued at US $ 59.1 Bn. Market growth is expected to witness a 15.3% CAGR. Moreover, safety biomarkers are anticipated to witness a CAGR of 15.9% during forecast period.
Surge in urbanization is fuelling the demand for various commodities and ultimately driving the need for logistics. Owing to this factor, market is expected to witness an impressive CAGR during forecast period.
In addition to this, the diagnostic biomarker market has found various breakthroughs in diagnostic tools when compared to traditional diagnostic tools. Moreover, biomarkers are integrated with advanced data technology and key imaging. Therefore, it meets the expectation of the market.
Besides this, Asia Pacific is expected to register the highest CAGR of during the forecast period. Growing awareness among consumers in developing countries such as Japan and China is expected to boost the growth of the market.
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In addition to this, higher number of USFDA-approved drug labels containing molecular biomarker information has increased significantly. Moreover, all pharmaceutical companies have developed molecular biomarker programs through partnerships or other ventures. Moreover, as per the American Cancer Society, around 609,640 people have died of cancer in the country.
Key Takeaways:
- In 2021, the biomarkers reached a valuation of US $ 59.1 Bn. Moreover, it is expected that Biomarker will grow 4.1X during forecast period, surpassing a value of US $ 27B Bn in 2032.
- Safety Biomarkers occupied a share of 38%
- By region, Japan is expected to be the fastest growing market for Biomarkers and is anticipated to witness a CAGR of 17.2%
- Cancer detection is expected to show the highest potential for growth in the Biomarkers industry. Moreover, it is anticipated to witness a growth of 17.1% during forecast period.
Growth Drivers:
- Surge in number of USFDA-approved drug labels containing molecular biomarker information has been witnessed.
- Moreover, all pharmaceutical companies have developed molecular biomarker programs through partnerships or other ventures. Approval of such drugs has helped grow the U.S. kidney biomarker market.
- Increasing use of biomarkers for the treatment of multiple infectious diseases is making a significant impact on the demand for biomarkers. This is expected to witness the similar trend during forecast period.
- The impact of COVID-19 on Biomarkers was not much seen in biomarkers market. Despite the heavy blows to almost all the industries, the Biomarkers industry generated revenue of US$ 59 Bn in 2021 and continued to grow positively at a rate of 14% over the last year. Growing health concern during pandemic is one of the factors driving the growth of the market during the pandemic
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Competitive Landscape:
Key players of the market are Abbott Laboratories, F. Hoffmann-La Roche Ltd, Epigenetics AG, and Johnson & Johnson Services, Inc. These companies adopt several organic and inorganic strategies to enhance their revenue and market share.
Recent developments:
- In May 2021, Cerascreen KRAS RGQ PCR Kit, FDA-approved diagnostic tissue specimen to identify KRAS G12C mutations in QIAGEN NV NSCLC tumors and expand precision medical options for lung cancer, was launched.
- In April, 2021, F. Hoffmann La Roche Ltd. launched cardiac biomarker tests. Also, these gold standard biomarkers support the management of cardiovascular disease and may help physicians diagnose heart attacks and better manage heart failure.
Key Companies Profiled by Fact.MR
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Epigenetics AG
- General Electric
- Johnson & Johnson Services, Inc.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Siemens Healthineers AG
- Qiagen
More Valuable Insights on Biomarkers market:
- By Disease Type:
- Cardiovascular Diseases
- Cancer
- Neurological Diseases
- Immunological Diseases
- Other Disease Types
- By Type:
- Safety
- Efficacy
- Validation
- By Application:
- Diagnostics
- Drug Discovery & Development
- Personalized Medicines
- Other Applications
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Key Points Covered in Biomarkers Industry Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Biomarkers and How to Navigate
- Recommendation on Key Winning Strategies
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