PD-L1 Biomarker Testing Market Is projected to reach USD 1.46 Bn by 2032 | FMI

The global PD-L1 biomarker testing market size was valued at US$ 541.6 Mn in 2021 and is expected to exhibit a CAGR of close to 9.4% over the forecast period (2022-2032).

Increasing incidence of cancer across the globe is underpinning the need for advanced cancer diagnosis equipment, which is expected to boost the market in the forthcoming years.  Cancer immunotherapy is emerging as a new avenue for the development of biomarker testing, thereby augmenting the growth in the market.

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Rising technological advancements in immunotherapy are propelling the adoption PD-L1 biomarker testing for non-small cell lung cancer as an effective means for therapeutic usage of PD-L1 proteins for benign lesions or tumor identification.

Moreover, the unmet needs of cancer treatments are addressed by the growing availability of high-quality immunotherapy products worldwide. Lifestyle changes, such as physical inactivity, tobacco consumption and smoking, as well as unhealthy diet are prime factors responsible for the growing burden of cancerous indications in the current scenario.

The emergence of cancer immunotherapy has advanced the diagnostic approach to cancer detection and management, thus propelling the growth in the PD-L1 biomarker testing market.

Key players operating in the market space are focusing on the development or extension of novel biologics using existing biologic resources for innovative product identification and provision of patented therapies.

Furthermore, the occurrence of adverse conditions such as organ failure and relapse into cancer through the process of chemotherapy is anticipated to fuel the adoption of PD-L1 biomarker testing among major healthcare facilities worldwide.

"Growing advancements in the field of oncology, along with accurate prediction insights offered by automated systems for biomarker testing will boost the sales of PD-L1 biomarker testing in the forthcoming years" says an FMI analyst.  

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Key Takeaways:

Based on product, PD-L1 22C3 assay kits segment is projected to account for over 53% of the market share by 2032, with sales increasing at a 10.2% CAGR over the forecast period.
In terms of indication, the NSCLS segment held 61.9% of the total market share in 2021, and the trend is expected to continue over the assessment period.
By end user, sales in the cancer research institutes segment accounted for 43.2% of the total market share in 2021.

North America is slated to be the largest leading region with a value share of over 61%, spearheaded by the U.S.

Sales in the U.K. will increase at a 10% CAGR over the assessment period.
China will emerge as a lucrative market, with demand growing at a 10.9% CAGR over the forecast period.

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Competition Landscape

Leading players operating in the market are actively working in coherence with researchers to be able to acquire enhanced and innovative concepts to widen the therapeutic actions of the product. For instance:

In May 2020, F. Hoffman-La Roche AG acquired Stratos Genomics to develop DNA-based sequencing for diagnostic use.
In July 2020, Abcam plc. and Cancer Research UK partnered for the development and commercialization of novel antibodies to accelerate cancer research.

Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global PD-L1 biomarker testing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on PD-L1 biomarker testing market segment based on product (PD-L1 22C3 assay kit, PD-L1 28-8 assay kit, PD-L1 SP142 assay kit and PD-L1 263 assay kit), indication (NSCLS, melanoma, renal cell carcinoma, gastrointestinal tract malignancy, haematological malignancies, ovarian cancer and others), end user (hospitals, diagnostic laboratories and cancer research institutes) across seven major regions.

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Key Market Segments Covered In PD-L1 Biomarker Testing Industry Research

By Product:

PD-L1 22C3 Assay Kit
PD-L1 28-8 Assay Kit
PD-L1 SP142 Assay Kit
PD-L1 263 Assay Kit

By Indication:

NSCLS
Melanoma
Renal Cell Carcinoma
Gastrointestinal tract Malignancy
Haematological Malignancies
Ovarian Cancer
Other

By End User:

Hospitals
Diagnostic Laboratories
Cancer Research Institutes

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.