Global Biomarkers Market Will Reach USD 132.8 Billion by 2030 | P&S Intelligence

The biomarkers market was USD 54.5 billion in 2022, and it will reach USD 132.8 billion, advancing at a 11.8% CAGR, by 2030.

The growth in the industry is attributed to the surging incidence of chronic illnesses and advancements in the technologies utilized in the production of biomarkers and biomarker-based diagnostic tests, including biomarker signatures, which are enabling neurological illnesses more treatable.

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In 2022, the consumables category, based on product type, held the largest share of the industry, of 70%. This is because of the increasing requirement for kit-based products for biomarker testing and the regular buying of consumables.

The software category is expected to witness the fastest growth in the years to come. This is because of the speedy acceptance of software-based methods in diagnostic labs for early and accurate disease diagnosis. Software-based biomarkers are particularly utilized in drug discovery, pharmacodynamic evaluation, and gene sequencing.

In 2022, the safety biomarkers category, based on type, held the largest biomarkers market share, of 55%, and it will remain the largest throughout this decade. This is because of the increasing number population who is at risk of cardiovascular ailments, kidney disorders, and cancer, along with increasing consciousness regarding the importance of routine health checkups.

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The efficacy biomarkers category is likely to observe the fastest growth in the years to come. This is attributed to the capability of these agents to evaluate the therapeutic effectiveness of medication products, as a result, such markers are increasingly being utilized in the pharmaceutical and biotechnology sectors for drug discovery.

In 2022, the diagnostics category, based on application, accounted for the largest share in the industry, because of the advantages of biomarkers in early identification of disease, which provides the diagnostic sector an opportunity to enhance early diagnosis and advance success rates of treatment.

Whereas, the drug discovery & development category will advance at the fastest rate in the years to come. This is attributed to the increasing focus of pharmaceutical and biotechnology businesses on establishing state-of-the-art research and development facilities for the production of easier drug efficacy prediction capabilities, a quick approval process, and targeted drugs.

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In 2022, North America held the largest share in the industry, of approximately 40%, and it will further advance at a robust rate throughout this decade. This is because of the increasing utilization of such markers in personalized drugs and numerous business development strategies implemented by the players, including collaborations and partnerships with major pharmaceutical and biotechnological businesses in this continent.

APAC will observe the fastest growth in the years to come. The surging incidence of cardiovascular and cancer illnesses has resulted in the increasing requirement for such agents in the continent for their detection.

With the increasing incidence of chronic illnesses and advancements in technologies, the demand for biomarkers will continue to increase in the years to come.

Biomarkers Market Size Breakdown by Segment

Market Segmentation by Application
• Diagnostics
• Drug Discovery & Development
• Personalized Medicine
• Disease Risk Assessment
• Others
Market Segmentation by Product Type
• Consumables
• Services
• Software
Market Segmentation by Type
• Safety
• Efficacy
• Validation
Market Segmentation by Disease
• Cancer
• Cardiovascular Disorders
• Neurological Disorders
• Immunological Disorders
• Renal Disorders
• Others
Market Segmentation by Region
• North America Biomarkers Market
o By application
o By product type
o By type
o By disease
o By country - U.S. and Canada
• Europe Biomarkers Market
o By application
o By product type
o By type
o By disease
o By country - Germany, U.K., France, Italy, Spain, and Rest of Europe
• Asia-Pacific (APAC) Biomarkers Market
o By application
o By product type
o By type
o By disease
o By country - Japan, China, India, South Korea, Australia, and Rest of APAC
• Latin America (LATAM) Biomarkers Market
o By application
o By product type
o By type
o By disease
o By country - Brazil, Mexico, and Rest of LATAM
• Middle East and Africa (MEA) Biomarkers Market
o By application
o By product type
o By type
o By disease
o By country - Saudi Arabia, South Africa, U.A.E., and Rest of MEA

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://healthcarefuturetrends.blogspot.com

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This release was published on openPR.