Press release
Exploring the Global Clinical Biomarkers Market: A Comprehensive Overview
Clinical Biomarkers Market
The clinical biomarkers market size is expected to see rapid growth in the next few years. It will grow to $46.11 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to expansion of companion diagnostics, focus on early diagnosis and disease prevention, increasing applications in precision oncology and neurodegenerative diseases, growing infectious diseases. Major trends in the forecast period include ai-powered biomarker discovery, machine learning integration, multi-omics integration, technological innovations, key players' partnerships.
Market Overview -
Clinical biomarkers refer to quantifiable biological traits identifying normal or diseased bodily functions, such as chemicals or physiological indices. Clinical biomarkers help enhance patient care and personalized medicine by offering valuable data about a person's health condition, disease progression, and prospective therapeutic targets.
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Surge In Cancer Propels The Clinical Biomarker Market Expansion
High cancer prevalence is expected to propel the growth of the clinical biomarker market going forward. Cancer is a term used to describe a group of disorders in which abnormal cells grow and divide uncontrollably, with the potential to invade and harm healthy bodily tissue. Clinical biomarkers play a crucial role in cancer prevention by aiding in early detection, risk assessment, and monitoring of individuals at high risk for developing cancer. For instance, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020. Therefore, the high cancer prevalence is driving the growth of the clinical biomarker market.
Competitive Landscape -
Major companies operating in the clinical biomarkers market report are Johnson and Johnson Services Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Merck KGaA, Becton Dickinson and Company, Eurofins Scientific, Agilent Technologies Inc., Epigenomics AG, Grifols S.A., Illumina Inc., BioMerieux SA., Charles River Laboratories International Inc., PerkinElmer Inc., Sartorius AG, Sysmex Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Myriad Genetics Inc., Luminex Corporation, Veracyte Inc., Centogene N.V., NanoString Technologies Inc., Enzo Biochem Inc., Biocartis Group NV, Agendia Inc., Siemens Healthcare Private Limited.
Technological Advancements Reshape Biomarker Market Landscape
Technological advancements are a key trend gaining popularity in the clinical biomarker market. Major companies operating in the clinical biomarker market are developing innovative technologies to sustain their position in the market. For instance, in June 2023, Veravas Inc., a US-based manufacturer of medicinal products for enhancing laboratory medicine, launched VeraBIND (Biomarker Isolation and N-enrichment for Detection) technology. It provides a uniquely innovative and comprehensive approach that enhances the precision of biomarker identification and reduces the likelihood of false positive or negative results across a range of sample types. Clinical laboratories can improve their diagnostic procedures and aid in early disease detection by putting this invention into practice, allowing for prompt and focused interventions. Additionally, VeraBIND paves the path for quicker assay creation, providing precision and consistency in studies, clinical studies, and diagnostic screenings.
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Key Segments -
The clinical biomarkers market covered in this report is segmented -
1) By Offering: Product, Service
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), Enzyme-Linked Immunosorbent Assay (ELISA), Other Technologies
3) By Clinical Area: Cancer Biomarker, Cardiac Biomarker, Neurological Biomarker, Infectious Disease Biomarker, Immunological Biomarker, Non-Invasive Prenatal Testing, Other Clinical Areas
4) By Application: Clinical Diagnostic, Translational Research
5) By End User: Contract Research Organizations (CROs), Research and Academic Laboratories, Biopharmaceutical and Biotech Companies, Diagnostic Centers, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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