Global Genomic Biomarker Market Size By Type, By Disease Indication Geographic Scope And Forecast
Report ID: 290009|No. of Pages: 202
Global Genomic Biomarker Market Size By Type, By Disease Indication Geographic Scope And Forecast
Genomic Biomarker Market Size And Forecast
Genomic Biomarker Market size was valued at USD 932.81 Million in 2024 and is projected to reach USD 1532.24 Million by 2031, growing at a CAGR of 6.40% during the forecast period 2024-2031.
Global Genomic Biomarker Market Drivers
The market drivers for the Genomic Biomarker Market can be influenced by various factors. These may include:
- Progress in Genomic Technologies: The range and precision of biomarker detection and analysis have been increased by the ongoing developments in genotyping, genomic sequencing, and other genomic technologies.
- Growing frequency of Chronic Diseases: The need for genomic biomarkers for early detection, diagnosis, prognosis, and personalised treatment has been stoked by the rising frequency of chronic diseases, including cancer, cardiovascular disease, and neurological disorders.
- Growing Need for Personalised Medicine: Genomic biomarkers are essential to personalised medicine because they allow customised treatment regimens based on a patient’s genetic composition, which improves treatment outcomes and lowers side effects.
- Growing Emphasis on Precision Medicine Initiatives: Government funding and initiatives, especially in industrialised nations, have sparked research and development efforts in genomic biomarkers with the goal of enhancing precision medicine.
- Growing Use in Clinical Trials and Drug Development: Genomic biomarkers are being used more frequently in clinical trials and drug development to find patient subgroups who are more likely to respond to particular treatments. This increases the effectiveness of medication research and lowers expenses.
- Technological Advancements in Biomarker Discovery: New genomic biomarkers with higher sensitivity and specificity are being found thanks to ongoing technological advancements including next-generation sequencing (NGS), CRISPR-Cas9 gene editing, and single-cell analysis methods.
- Growing Adoption of Companion Diagnostics: As companion diagnostics play a bigger role in helping patients make treatment decisions, the need for genomic biomarkers is rising. Companion diagnostics are used to identify patients who are most likely to benefit from a specific therapeutic product.
- Growing Research Partnerships and Collaborations: The conversion of genomic research discoveries into clinically useful biomarkers is happening faster because to partnerships and collaborations between pharmaceutical companies, academic institutions, and diagnostic businesses for biomarker development and validation.
- Growing Acceptance and Awareness of genetic Testing: The market for genetic biomarkers is growing as more people, including medical professionals and patients, become aware of the advantages of genomic testing for illness prevention, diagnosis, and treatment.
- genome Sequencing Cost Reduction: As a result of declining genome sequencing technology costs and advancements in data analysis and interpretation, the market for genomic biomarker testing is expanding and becoming more widely available and affordable.
Global Genomic Biomarker Market Restraints
Several factors can act as restraints or challenges for the Genomic Biomarker Market. These may include:
- Regulatory Obstacles: Tight regulations requiring genetic biomarkers to be approved may provide barriers to their commercialization. It can be costly and time-consuming to ensure adherence to regulatory norms, such as FDA clearances in the US and comparable laws in other nations.
- Legal and Ethical Issues: The use of genomic biomarkers frequently necessitates the gathering and examination of private genetic data. This presents questions about consent, privacy, and the misuse of genetic data, which are ethical and legal issues. It can be difficult to address these issues and guarantee appropriate data protection procedures.
- High Cost of Development and Implementation: Research, development, and validation studies must be heavily invested in in order to develop genetic biomarkers. Furthermore, setting up the infrastructure for genomic testing in medical facilities can be expensive. Access to genetic biomarker testing may be restricted by high costs, particularly in environments with limited resources.
- Complexity of Data Interpretation: The interpretation of genomic data can be challenging, requiring advanced bioinformatics tools and specialised knowledge. Clinical decision-making depends on the precise and trustworthy interpretation of genomic biomarker data, which can be difficult, especially for medical professionals without specialised training in genomics.
- Limited Clinical Utility and Validation: In practical contexts, not all genetic biomarkers have demonstrated clinical utility or validation. The lack of sufficient data to demonstrate the clinical validity and usefulness of some biomarkers may prevent payers and healthcare providers from using them.
- Interoperability and Standardisation: Data sharing and collaboration between researchers and healthcare organisations might be hampered by a lack of interoperability and standardisation in genomic data formats and analytic processes. To optimise the use of genetic biomarkers, consistent standards for genomic data analysis and interchange must be established.
- Education of Patients and Physicians: It’s possible that neither patients nor physicians fully comprehend the significance of genetic biomarkers in healthcare decision-making. To promote acceptance and implementation of genetic biomarkers, it is imperative to enhance education and understanding regarding genomic medicine.
Global Genomic Biomarker Market Segmentation Analysis
The Global Genomic Biomarker Market is Segmented on the basis of Type, Disease Indication And Geography.
Genomic Biomarker Market, By Type
- Predictive Biomarkers: These biomarkers are used to identify individuals who are at risk of developing a particular disease.
- Prognostic Biomarkers: These biomarkers are used to predict the course of a disease after it has been diagnosed.
Genomic Biomarker Market, By Disease Indication
- Oncology (Cancer): This segment is the largest and is expected to grow the fastest, due to the increasing use of genomic biomarkers in cancer diagnosis and treatment. ![Cancer Cells]
- Cardiovascular Diseases: Biomarkers can help assess risk and predict heart disease
- Neurological Diseases: This segment includes conditions like Alzheimer’s disease, Parkinson’s disease, and multiple sclerosis.
- Renal Disorders: Biomarkers aid in diagnosis and prognosis of kidney diseases.
- Others: This segment includes infectious diseases, autoimmune diseases, and metabolic disorders.
Genomic Biomarker Market, By Geography
- North America: Market conditions and demand in the United States, Canada, and Mexico.
- Europe: Analysis of the Genomic Biomarker Market in European countries.
- Asia-Pacific: Focusing on countries like China, India, Japan, South Korea, and others.
- Middle East and Africa: Examining market dynamics in the Middle East and African regions.
- Latin America: Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Genomic Biomarker Market are:
- Cancer Genetics Inc
- Eurofins Scientific
- Thermo Fisher Scientific Inc
- Aepodia SA
- Epigenomics AG
- US Biomarkers Inc.
- Roche Diagnostics
- Myriad Genetics
- Illumina Inc.
- QIAGEN N.V.
- PerkinElmer
- Oxford Nanopore Technologies Ltd.
- BGI Group
- Macrogen Inc.
- GENEWIZ
- Novogene Corporation
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Cancer Genetics Inc, Eurofins Scientific, Thermo Fisher Scientific Inc, Aepodia SA, Epigenomics AG, Roche Diagnostics, Myriad Genetics, Illumina Inc., QIAGEN N.V. , Oxford Nanopore Technologies Ltd. |
| Segments Covered |
|
| Customization Scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Genomic Biomarker Market, By Type
• Predictive Biomarkers
• Prognostic Biomarkers
5. Genomic Biomarker Market, By Disease Indication
• Oncology (Cancer)
• Cardiovascular Diseases
• Neurological Diseases
• Renal Disorders
6. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
7. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
8. Competitive Landscape
• Key Players
• Market Share Analysis
9. Company Profiles
• Cancer Genetics Inc
• Eurofins Scientific
• Thermo Fisher Scientific Inc
• Aepodia SA
• Epigenomics AG
• US Biomarkers Inc.
• Roche Diagnostics
• Myriad Genetics
• Bio-Rad Laboratories
10. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
11. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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Industry Analysis Matrix
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