Email
Print
Market Overview:
The Genetic Biomarkers Market size is estimated to reach $37 Billion by 2030, growing at a CAGR of 9.7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Genetic Biomarkers Market – By Product (Consumables, Services, Software); By Type (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers), By Test Type (Population Screening, Diagnostic Testing and Others), By Application (Diagnostics, Drug Discovery and Development, Personalized Medicine, Disease Risk Assessment, Others), By Disease Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”.
Increasing prevalence of chronic diseases and the growing awareness of early disease detection are the main drivers of the genetic biomarkers market. Additionally, the growing awareness regarding genetic testing is also driving the market's growth.
North America Dominated the Market in 2023:
North America accounted for the largest share of 41% of the Genetic Biomarkers market in 2023 owing to its healthcare infrastructure, strong research and development capabilities and the presence of key market players. The region benefits from high investment in biotechnology which supports the development and application of genetic biomarkers. Furthermore, a well-established regulatory framework coupled with increasing initiatives and funding for biomarker research contributes to region’s dominance. For instance, in October 2023, Canadian company, Imeka, announced an investment from the Alzheimer's Drug Discovery Foundation (ADDF) to accelerate the development of novel biomarkers for Alzheimer's disease and related dementias.
Genetic Biomarkers Market: Key Takeaways
Increasing Prevalence of Chronic Diseases
The rising prevalence of chronic diseases such as cancer, cardiovascular disease (CVD) and diabetes is a major driver for the genetic biomarkers market. As these conditions become more prevalent there is a need for early detection, accurate diagnosis and targeted treatments. According to the American Heart Association, clinical CVD will affect 45 million adults and CVD including hypertension will affect more than 184 million adults by 2050, an increase of more than 61% from 2020. Genetic biomarkers play a critical role in identifying disease predispositions enabling personalized therapeutic treatments. With the global burden of chronic diseases increasing, the demand for genetic biomarkers in diagnostics and drug development will further rise.
For More Queries About "Genetic Biomarkers Market " @ https://www.industryarc.com/reports/request-quote?id=18425
Growing Awareness of Genetic Testing
As more individuals and healthcare providers recognize the benefits of early disease detection and prevention there is a demand for genetic testing. Advances in genetic testing technology have made it more accessible and affordable encouraging wider adoption. Patients are increasingly interested in understanding their genetic predispositions to various diseases. Additionally, direct-to-consumer genetic testing companies have contributed to raising public awareness. For instance, in March 2022, Illumina launched a cancer test in Europe that checks for a wide range of tumor genes in one tissue sample, helping match patients to available therapies according to clinical guidelines or clinical trials, based on their tumor profile.
Scope of the Report:
Recent Developments:
- In June 2024, Lifesum, the global nutrition app based in Sweden, announced the acquisition of LYKON, a biomarker-based personalized nutrition company in Germany. LYKON’s at-home testing combined with its personalization technology provides health insights for personalized nutrition and wellness recommendations.
- In March 2024, C₂N Diagnostics, LLC announced an investment of $15 million by Eisai. The investment will catalyze C₂N’s efforts to expand the availability, accessibility and use of high-performance blood biomarker tests for the early diagnosis of Alzheimer’s disease in the U.S.
- In August 2023, Quest Diagnostics partnered with Envision Sciences to commercially launch a novel prostate cancer biomarker test to help in identifying patients with more aggressive forms of the disease.
Genetic Biomarkers Market: Competitive Landscape
Key companies profiled in the Genetic Biomarkers Market are Illumina Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Abbott, F. Hoffmann-La Roche, QIAGEN, PerkinElmer, Hologic, Inc., Myriad Genetics, Inc., Genomic Health, Inc. and Others
Related Reports:
Pre-pregnancy Genetic Testing Market – Pre-pregnancy Genetic Testing Market size is estimated to reach US$262.3 million by 2027, growing at a CAGR of 5.2% during the forecast period 2022-2027 primarily owing to a growing preference for minimally invasive medical procedures.
Nutrigenomics Testing Market - The nutrigenomics testing market size is estimated to reach $2 billion by 2030, growing at a CAGR of 15.8% during the forecast period 2024-2030. Integration of Artificial Intelligence (AI) and Machine Learning (ML) drives the growth of the market.
Cytogenetics Market- Cytogenetics Market size was estimated at $2.6 billion in 2020, projected to grow at a CAGR of 9.2% during the forecast period 2021-2026. Cytogenetics industry has witnessed huge demand owing to the technological advancements along with increasing usage of pharmacogenomics for several personalised disease and drug development.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727