Market Dynamics:
Increasing adoption of personalized medicines. Personalized medicines help doctors determine appropriate treatment and medication for patients based on their genetic makeup and individual molecular profile. Biomarkers play a crucial role in this by helping identify the right biomarkers for various diseases.
Furthermore, the increasing R&D investment by key players to develop novel blood-based biomarkers is also expected to fuel the market growth during the forecast period.
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Market Trends:
One of the leading trends is commercialization of disease-associated blood-based biomarker tests. Companion diagnostics and targeted therapies have added much to the commercialization of disease-associated biomarker tests.
The adoption of biomarkers in liquid biopsy is a recent trend that has been seen more often than others. Liquid biopsy is a blood test without invading the body used for cancer detection and monitoring. It evaluates the biomarkers, which the tumor cells secrete into the bloodstream, for best treatment options.
Blood Based Biomarker Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2022 |
US$ 18.8 billion |
|
Estimated Value by 2030 |
US$ 49.24 billion |
|
Growth Rate |
Poised to grow at a CAGR of 12.8% |
|
Historical Data |
2017–2020 |
|
Forecast Period |
2022–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Type, By Disease, By Application |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
Increasing prevalence of cancer and neurological diseases Rising research and development for blood-based biomarkers |
|
Restraints & Challenges |
Issues related to regulatory and reimbursement systems |
Market Opportunities
Screening biomarkers segment accounted for around 35% of the total market share in 2023. Screening biomarkers help in early detection of diseases and are being increasingly used for regular health checkups. Biomarkers such as prostate specific antigen (PSA), alpha fetoprotein (AFP) and carbohydrate antigen 19-9 (CA19-9) help in screening for prostate cancer, liver cancer and pancreatic cancer respectively.
Diagnosis biomarkers segment captured around 30% of the total market share in 2023. Diagnosis biomarkers help in confirming the presence of a disease, determining the stage of a disease and identifying the genetic mutations causing the disease. Biomarkers such as HER2 and EGFR help in diagnosis and targeted therapy decisions in breast cancer and lung cancer respectively
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Key Market Takeaways:
The global blood-based biomarker market is anticipated to witness a CAGR of 12.8% during the forecast period 2024-2031. This is due to increasing incidence of cancer and other chronic diseases.
By Type, the screening biomarkers segment is expected to hold a dominant position, accounting for over 35% share of the global market. This is owing to the rise in awareness about early disease detection.
By Disease, cancer biomarkers captured around 40% share of the total market in 2023. This is due to high incidence of various cancers and ongoing R&D for develop novel cancer biomarkers.
Based on Application, diagnostics segment held the largest share of over 50% in 2023 as these biomarkers help in disease diagnosis, treatment monitoring and recurrence detection.
By Region, North America is expected to hold a dominant position over the forecast period. This is driven by increasing healthcare expenditure, presence of key market players and growing biotech industry in the region.
Key players operating in the blood-based biomarker market include
Diadem srl
Proteomedix
Cleveland Diagnostics
F. Hoffman-La Roche Ltd
GENFIT
Nutech Cancer Biomarkers India Pvt Ltd
Sysmex Corporation
Minomic
Creative Diagnostics
Recent Developments:
In January 2024 Cleveland Diagnostics, Inc. reported the closing of a $75 million expansion capital investment. Cleveland Diagnostics, Inc. is a biotech business that focuses on cancer detection at an early stage.
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