Global Genomic Biomarkers Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2023 –2030 |
 Market Size (Base Year) |
USD 7.59 Billion |
 Market Size (Forecast Year) |
USD 27.59 Billion |
 CAGR |
% |
| Major Markets Players |
Global Genomic Biomarkers Market, By Type (Predictive Biomarkers, Prognostic Biomarkers), Disease Indication (Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Others), Validation (Analytical Validation, Clinical Validation, Clinical Utility), End-User (Diagnostic and Research Laboratories, Hospitals Others) – Industry Trends and Forecast to 2030.
Genomic Biomarkers Market Analysis and Size
By 2040, there will be 27.5 million more cancer cases worldwide, according to the International Agency for Research on Cancer (IRAC). The causes of the increasing capacity include smoking, leading an unhealthy lifestyle, and not getting enough exercise. The burden is anticipated to increase beyond IRAC's prediction, offering more opportunities for specialized treatments. Biopharmaceutical companies are likely to prioritize the expansion of their oncology product lines, which is expected to boost this market's growth during the forecast period.
Data Bridge Market Research analyses that the genomic biomarkers market, which is USD 7.59 billion in 2022, is expected to reach USD 27.59 billion by 2030, at a CAGR of 17.5% from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Genomic Biomarkers Market Scope and Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015 - 2020) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Predictive Biomarkers, Prognostic Biomarkers), Disease Indication (Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Others), Validation (Analytical Validation, Clinical Validation, Clinical Utility), End-User (Diagnostic and Research Laboratories, Hospitals, Others) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Thermo Fisher Scientific (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Myriad Genetics, Inc (U.S.), Eurofins Scientific (Luxembourg), QIAGEN (Germany), Bio-Rad Laboratories, Inc. (U.S.), MedGenome (India), Almac Group (U.K.), Sema4 (U.S.), GENOME LIFE SCIENCES (India), Creative Diagnostics (U.S.), FOUNDATION MEDICINE, INC. (U.S.) and Quanterix (U.S.) |
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Market Opportunities |
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Market Definition
Genomic biomarkers are DNA and RNA traits used as diagnostic indicators, disease characterization, and therapy selection tools. The body's response to treatment as well as pathological and physiological processes, are all represented by genomic biomarkers. Testing for genomic biomarkers can find molecular changes in a single gene, a group of genes, or a whole genome. A relationship between a genetic biomarker and the likelihood of developing a disease may or may not have strong supporting data. Functional laboratory evaluations and genetic epidemiology evidence are two variables that contribute to the clinical validity and usability of genomic biomarkers.
Genomic Biomarkers Market Dynamics
Drivers
- The rising number of patients with neurological diseases will propel the market growth
Genomics technology advancement and ongoing laboratory test development have improved the market situation. The Alzheimer's Society estimates that 5.8 million Americans over 50 will have Alzheimer's dementia in 2019, and this is expected to rise to 14 million by the year 2050. Hence, there is an urgent demand for genetic biomarkers that might support market expansion globally due to the rising number of patients with neurological diseases.
- Increased government healthcare spending will drive the market growth
The market is anticipated to grow due to factors such as the growing availability of genetic biomarkers in hospitals, increased government healthcare spending, and various hospital initiatives that treat chronic diseases. For instance, according to the Centers for Medicare & Medicaid Services (CMS), national health spending in the United States is expected to reach over USD 6.0 trillion by 2027 after increasing by an average of 5.5% year between 2018 and 2027. As a result, this component will be essential in expanding the genomic biomarkers market.
Opportunities
- The rising demand for genetic biomarkers will propel the market growth
The increased adoption of new technical innovations and modernization ideas in healthcare infrastructure encourages market expansion. In addition to these aspects, companion diagnostics and biomarkers have also gained significant importance in medical practice, ultimately promoting improved disease-specific diagnosis, therapy, and intensive care. As a result, genetic biomarkers are now in high demand from pharmaceutical companies and healthcare providers, greatly impacting the global market's expansion. Moreover, the market is anticipated to increase favorably due to the rising need for genetic biomarkers in prostate cancer.
Restraints/Challenges
- The inability to establish an adequate predictive value for the diagnosis of colon cancer will hinder the market growth
A few issues with the use and analysis of genetic biomarkers are anticipated to limit market expansion during the forecast period. According to an article released by the Intestinal Journal in November 2019, genomic biomarkers, such as miRNA found in stool samples, cannot be used as a stand-alone diagnostic tool for the detection of colon cancer.
This genomic biomarkers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomic biomarkers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2020, Clinical Genomics Delivery in everyday healthcare was completed under Color Genomics' U.S. program, the company announced in collaboration with NorthShore University Health System. Also, the business supported Sanford's Imagenetics genomes program, which will improve clinical judgment. This project is also to blame for the region's widespread use of genetic biomarkers.
- In 2020, Gilead Sciences, Inc. and Second Genome announced their four-year strategic partnership to find new potential targets and therapeutic candidates for treating IBD and identify biomarkers linked to clinical response (inflammatory bowel disease).
Global Genomic Biomarkers Market Scope
The genomic biomarkers market is segmented on the basis of type, disease indication, validation, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Predictive Biomarkers
- Prognostic Biomarkers
Disease Indication
- Oncology
- Cardiovascular Diseases
- Neurological Diseases
- Renal Disorders
- Others
Validation
- Analytical Validation
- Clinical Validation
- Clinical Utility
End- User
- Diagnostic
- Research Laboratories
- Hospitals
- Others
Genomic Biomarkers Market Regional Analysis/Insights
The genomic biomarkers market is analysed and market size insights and trends are provided by country, type, disease indication, validation, and end-user as referenced above.
The countries covered in the genomic biomarkers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the genomic biomarkers market because of the rise in genetic biomarkers for early disease diagnosis. For instance, Color Genomics, in partnership with North Shore University Health System, declared in January 2020 that the U.S. program's adoption of clinical genetics in routine healthcare had been completed.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030, owing to the expansion of healthcare infrastructure initiatives in the Asian economy and the abundance of extremely cutting-edge research facilities in developing countries such as China, India, and Japan. For instance, The Genome Asia 100K Project sequencing (WGS) project makes genetic discoveries possible throughout the Asian economy.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The genomic biomarkers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for genomic biomarkers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the genomic biomarkers market. The data is available for historic period 2011-2021.
Competitive Landscape and Genomic Biomarkers Market Share Analysis
The genomic biomarkers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to genomic biomarkers market.
Some of the major players operating in the genomic biomarkers market are:
- Thermo Fisher Scientific (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Myriad Genetics, Inc (U.S.)
- Eurofins Scientific (Luxembourg)
- QIAGEN (Germany)
- Bio-Rad Laboratories, Inc. (U.S.)
- MedGenome (India)
- Almac Group (U.K.)
- Sema4 (U.S.)
- GENOME LIFE SCIENCES (India)
- Creative Diagnostics (U.S.)
- FOUNDATION MEDICINE, INC. (U.S.)
- Quanterix (U.S.)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
