What Is The Current and Historic Market Size Analysis Of The Genomic Biomarker Market?
The genomic biomarker market has seen considerable growth due to a variety of factors.
• The size of the genomic biomarker market has seen speedy expansion in the previous years. The market which is projected to increase from $8.4 billion in 2024 to $9.9 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 18.0%.
This notable development during the historic period is due to the surge in sensitivity towards genetic conditions, growing request for targeted treatments, escalated use of substantial data in genomic research, an upward trend in global genomic databases, and an increment in clinical trials based on biomarkers.
What Are The Predictions for The Genomic Biomarker Market in the Coming Years?
The genomic biomarker market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for genomic biomarkers is predicted to experience significant expansion in the coming years, with a projected value of $18.93 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 17.6%.
The predicted growth during the forecast period is mainly due to an increased emphasis on personalized medication, an escalation in cardiovascular disease cases, a rise in neurological disease patients, an increase in investment for genomic research, and a growing preference for personalized nutrition. The forecast period is also expected to witness several key trends including technological innovations, digital health, artificial intelligence application, machine learning integration, and tailored medicine.
Which Drivers Are Accelerating Growth In The Genomic Biomarker Market?
The rise in chronic illness cases is predicted to spur the expansion of the genomic biomarker market in the future. Chronic illnesses are enduring health issues that consistently persist and usually evolve gradually. This escalation in chronic illness is attributed to the aging population and the increasing instances of conditions related to lifestyle such as obesity and diabetes. Genomic biomarkers facilitate the early identification and personalization of prevention methods for chronic diseases through the detection of genetic susceptibilities and customization of interventions. This preemptive strategy aids in decreasing prevalence by aiming at those individuals at risk before the disease emerges. For example, in September 2023, the World Health Organization (WHO), an intergovernmental organization based in Switzerland, reported that every year, there are 41 million worldwide deaths, which represent 74% of all deaths due to chronic diseases. These numbers include 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Consequently, the growing prevalence of chronic diseases is driving the expansion of genomic biomarkers.
What Are The Core Segments Of The Global Genomic Biomarker Market?
The genomic biomarker market covered in this report is segmented –
1) By Type: Predictive Biomarkers, Prognostic Biomarkers
2) By Disease Indication: Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Other Disease Indications
3) By Validation: Analytical Validation, Clinical Validation, Clinical Utility
4) By End-User: Hospitals, Diagnostic Centers, Research Laboratories, Other End Users
Subsegments:
1) By Predictive Biomarkers: Genetic Biomarkers For Disease Susceptibility, Pharmacogenomic Biomarkers For Drug Response, Early Detection Biomarkers For Disease Prediction, Biomarkers For Treatment Response Prediction
2) By Prognostic Biomarkers: Biomarkers For Disease Progression, Biomarkers For Outcome Prediction, Survival And Recurrence Biomarkers, Biomarkers For Treatment Efficacy And Prognosis
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What New Trends Are Influencing The Genomic Biomarker Market?
Leading enterprises participating in the genomic biomarker market are channeling their efforts towards the creation of cutting-edge products such as progressive liquid biopsy assays to facilitate detailed genomic profiling of solid tumors. A liquid biopsy assay is a diagnostic tool that scrutinizes genetic elements, typically circulating tumor DNA (ctDNA), from a blood sample in order to trace and track cancer. The discovery of genomic biomarkers provides details about distinct mutations, gene expression patterns, and other genetic variations related to cancer. For example, in November 2023, Illumina Inc., a biotechnology firm based in the US, introduced an advanced liquid biopsy assay, the TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2), meant for thorough genomic profiling of solid tumors. The assay displays improved analytical sensitivity by detecting low-frequency variants with just 20 ng of cell-free DNA, a decrease from 30 ng. It provides results in less than four days, drastically hastening genomic profiling compared to conventional practices. The improved workflow and imminent automation are set to ease lab integration and heighten efficiency.
Who Are the Key Players In The Genomic Biomarker Market?
Major companies operating in the genomic biomarker market are:
• Pfizer Inc.
• Roche Diagnostics
• Thermo Fisher Scientific Inc.
• Merck KGaA
• Eurofins Scientific SE
• Agilent Technologies Inc.
• Illumina Inc.
• PerkinElmer Inc.
• Beckman Coulter Inc.
• Bio-Rad Laboratories Inc.
• Foundation Medicine Inc.
• QIAGEN N.V.
• Almac Group Ltd.
• Myriad Genetics Inc.
• Invitae Inc.
• Guardant Health Inc.
• Novogene Inc.
• Twist Bioscience Corp.
• NanoString Technologies Inc.
• Quanterix Corp.
• Personalis Inc.
• GENEWIZ Inc.
• Agena Bioscience Inc.
• Creative Diagnostics Ltd.
• OncoDNA SA
• Genome Life Sciences Ltd.
• Epigenomics AG.
What Are The Regional Insights Into The Genomic Biomarker Market?
North America was the largest region in the genomic biomarker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomic biomarker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
