Personalized Medicine Biomarkers Market to Reach $59.1 Billion by 2031, Growing at a 12.8% CAGR.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Personalized Medicine Biomarkers Market Size, Share & Trends Analysis Report By Type (Genetic Biomarkers, Protein Biomarkers, Metabolite Biomarkers), By Application (Oncology, Neurology, Diabetes, Autoimmune Diseases, Cardiology, Others), By End User (Hospitals, Diagnostic Laboratories, Research Institutions)- Market Outlook And Industry Analysis 2031"

The Global Personalized Medicine Biomarkers Market is valued at US$ 22.9 Bn in 2023, and it is expected to reach US$ 59.1 Bn by 2031, with a CAGR of 12.8% during the forecast period of 2024-2031.

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The Personalized Medicine Biomarkers Market is rapidly expanding, driven by the growing demand for treatments tailored to individual patient needs. Personalized medicine biomarkers-biological indicators such as genes, proteins, or metabolites-offer critical insights into a patient's health status and how they might respond to specific therapies. These biomarkers play a crucial role in diagnosing diseases early, predicting treatment responses, and customizing treatment plans to enhance efficacy while minimizing side effects. In oncology, biomarkers like BRCA1/2 and EGFR are essential for selecting targeted therapies based on specific tumor mutations.

Personalized medicine biomarkers are used in the diagnosis, prognosis, treatment selection, and monitoring of diseases. Genomic biomarkers help identify DNA mutations that contribute to increased risk of the disease, whereas proteomic and metabolic biomarkers offer insights into the presence and progression of disease. As the prevalence of chronic diseases such as cancer and cardiovascular disorders increases around the world, the need for precise, personalized diagnostic and therapeutic solutions is also increasing. Regulatory support from the FDA and other agencies promotes the growth of the market through biomarker research and speeding up the approval process for new therapies, enhancing patient care and advancing precision medicine.

List of Prominent Players in the Personalized Medicine Biomarkers Market:
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Foundation Medicine, Inc.
• Genomic Health, Inc
• Guardant Health, Inc.
• Illumina, Inc.
• Luminex Corporation
• Merck KGaA
• Myriad Genetics, Inc
• QIAGEN N.V
• Roche Diagnostics
• Siemens Healthineers
• Thermo Fisher Scientific Inc.
• Coriell Life Sciences.
• Laboratory Corporation of America Holding
• NeoGenomics Laboratories
• Quest Diagnostics Incorporated

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Market Dynamics:
Drivers-
The Personalized Medicine Biomarkers Market is growing rapidly because chronic diseases such as cancer, diabetes, and cardiovascular disorders need to be treated by specially designed solutions. In 2022, 19,976,499 cases of cancer were diagnosed around the globe, with an age-standardized rate of 196.9 per 100,000, underlining the urgency of such an approach. Biomarkers, which are biological indicators of disease mechanisms and treatment responses, play a crucial role in improving diagnostic accuracy and patient outcomes. In oncology, they are particularly valuable for identifying genetic mutations or tumor-specific characteristics, enabling the selection of targeted therapies tailored to individual patients. This personalized approach boosts treatment efficacy and reduces side effects, gaining preference in modern medicine. Simultaneously, technological advancements in genomics, proteomics, and bioinformatics are accelerating biomarker discovery and validation, attracting significant investment from pharmaceutical companies and research institutions.

Challenges:
High discovery costs, complexity of regulations, ethical concerns, lack of awareness by service providers and customers, and limited reimbursement, among others are the emerging challenges in this personalized medicine biomarkers market, which challenges both adoptability and accessibility.

Regional Trends:
North America, specifically the United States, represents one of the biggest markets for Personalized Medicine Biomarkers, owing to well-developed healthcare infrastructure, major biotechnology companies, and a government that has implemented initiatives such as the 21st Century Cures Act, simplifying approval processes. The growing prevalence of chronic conditions, including cancer and cardiovascular diseases, increases the requirement for personalized treatment, whereas advanced sequencing technologies and stringent reimbursement policies further drive the adoption of biomarkers.

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Recent Developments:
• In June 2024, Guardant Health, Inc. launched an enhanced version of its Guardant360 TissueNext test, expanding its gene panel to 498 cancer biomarkers. This update helps oncologists better identify effective targeted therapies for advanced cancer patients. The improved test also features a streamlined workflow for faster results.
• In April 2024, Bio-Rad Laboratories, Inc. has launched its first ultrasensitive multiplexed digital PCR assay, the ddPLEX ESR1 Mutation Detection Kit. This addition expands the company's Droplet Digital PCR (ddPCR™) offerings, enhancing mutation detection for oncology research, therapy selection, and disease monitoring.

Segmentation of Personalized Medicine Biomarkers Market-
By Type:
• Genetic Biomarkers
• Protein Biomarkers
• Metabolite Biomarkers
By Application:
• Oncology
• Neurology
• Diabetes
• Autoimmune Diseases
• Cardiology
• Others
By End User:
• Hospitals
• Diagnostic Laboratories
• Research Institutions
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 Middle East and Africa

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This release was published on openPR.