Predictive Biomarkers Market Latest Trends and Future Opportunities Analysis to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Predictive Biomarkers Market- (By Indication (Cancer, Neurological Disorder, Cardiovascular Disorder, Immunological Disorder, Others), By End-Use (Diagnostic Centers, Contract Research Organizations (CROs), Academic Research Institutes, Pharma & Biotech Companies, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Predictive Biomarkers Market is expected to grow with a CAGR of 14.27% during a forecast period of 2023-2031.

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A predictive biomarker is a detectable indicator of the biological state or illness of an organ, tissue, or cell. Biomarkers are frequently utilized in medicine, safety evaluation, and drug discovery and development. Predictive biomarkers are divided into several sorts based on their functioning, including diagnostic, prognostic, and predictive biomarkers. They play a significant role in drug development and the greater biomedical research enterprise. Predictive biomarkers are classified as genomics, proteomics, and others based on their biological features. During the projection period, an increase in clinical tests is a key element driving market revenue growth.

Furthermore, advances and advancements in this subject are increasing. Patients who will benefit from adjuvant radiotherapy or chemotherapy are also identified using predictive biomarkers. The rising cases of cardiovascular diseases and other diseases are a major factor boosting market revenue growth.

List of Prominent Players in the Predictive Biomarkers Market:
• Thermo Fisher Scientific Inc.
• Qiagen N.V.
• F. Hoffmann-La Roche AG
• Bio-Rad Laboratories, Inc.
• Agilent Technologies, Inc.
• Illumina Inc.
• Merck KGaA
• Bio-Techne Corporation
• Siemens Healthineers AG
• PerkinElmer, Inc.
• Myriad Genetics, Inc.
• Becton, Dickinson and Company
• Danaher Corporation
• Genomic Health, Inc.
• Pacific Biosciences of California, Inc.
• Others

Market Dynamics:
Drivers-
Increased diagnostic uses of biomarkers is one of the primary drivers driving the biomarker industry's rise. An increase in the number of R&D activities financed by biotechnology and pharmaceutical companies, as well as the rising prevalence of cancer, are some of the significant biomarker industry trends driving demand and accelerating market expansion. Biomarkers market expansion is being driven by factors such as increased demand for personalized treatment, technological developments in illness detection, and a growing preference for biomarkers in drug research and development.

Challenges:
Several problems face the development and deployment of predictive biomarkers in diverse sectors. Validating predictive biomarkers is a time-consuming and complex process. Biomarkers must be thoroughly tested in broad and diverse patient populations to assure accuracy, specificity, and reproducibility. Inadequate validation can result in false-positive or false-negative outcomes, weakening clinical value. For accurate biomarker analysis, proper sample collection, processing, and preservation are essential. Obtaining sufficient and high-quality biological samples for biomarker investigations might pose difficulties.

Regional Trends:
The North American Predictive Biomarkers Market is expected to register a important market share in terms of revenue and it is projected to grow at a high CAGR in the near future. The incidence of chronic diseases, improved healthcare infrastructure, vigorous research and development activities, and rising use of personalized medicine approaches have had an impact on market size. The region's robust R&D infrastructure, including university institutions, government assistance, and private funding, aided in advancing predictive biomarker studies and their translation into clinical applications. Furthermore, the regulatory landscape for biomarker-based goods in Europe is well-established, with the European Medicines Agency (EMA) giving recommendations for biomarker development and approval.

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Recent Developments:
• In Nov 2022, Roche's VENTANA FOLR1 (FOLR1-2.1) RxDx Assay, which is a predictive biomarker, was approved by the FDA as the first IHC-based companion diagnostic to find ovarian cancer patients who are suitable for ELAHERE. The VENTANA FOLR1 (FOLR1-2.1) RxDx Assay was made as a measure that can be used to make predictions.

• In Sept 2020, The Thermo Fisher Precision Medicine Science Centre (PMSC) announced new collaborations with AstraZeneca and the University of Nebraska Medical Centre to explore revolutionary clinical biomarker discovery solutions. The new alliances helped the PMSC standardise workflows with pharma and academic partners to streamline biomarker research to clinical implementation, enabling precision medicine potential.

Segmentation of Predictive Biomarkers Market-
By Indication-
• Cancer
• Neurological Disorder
• Cardiovascular Disorder
• Immunological Disorder
• Others

By End-Use-
• Diagnostic Centers
• Contract Research Organizations (CROs)
• Academic Research Institutes
• Pharma & Biotech Companies
• Others

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

This release was published on openPR.