Genomic Biomarkers Market

The global Genomic Biomarkers Market is valued at USD 3.7 Billion in 2022 and is projected to reach a value of USD 8.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 12.9% between 2023 and 2030.

Premium Insights

The Genomic Biomarkers market is poised to grow tremendously over the next few years, with increasing advances in genomic sequencing technologies and the rising need for personalized medicine. One of the key drivers of the Genomic Biomarkers market is the growing prevalence of Non-communicable diseases (NCDs)/Chronic diseases like diabetes, cancer, and cardiovascular diseases. According to WHO, NCDs account for 41 million annual fatalities, approximately 74% worldwide. 17 million people worldwide pass away from an NCD before they turn 70 each year; 86% of these untimely deaths occur in low- and middle-income nations. 77% of NCD-related deaths occur in low- and middle-income nations. The majority of NCDs, or 17.9 million fatalities each year, are caused by cardiovascular illnesses, followed by cancers (9.3 million), chronic respiratory conditions (4.1 million), and diabetes (2.0 million, including deaths from kidney problems brought on by diabetes). Over 80% of all NCD-related deaths that occur prematurely are caused by these diseases. Genomic Biomarkers can identify individuals at risk of developing these diseases, allowing for early intervention and preventative measures. This, in turn, is expected to drive demand for genomic biomarker tests in the coming years. The market outlook has increased due to ongoing advances in laboratory tests and genomics.

According to the Alzheimer's Association, 14 million Americans aged 50 or older are anticipated to have Alzheimer's dementia by the year 2050. Due to the growing number of people suffering from neurological illnesses, there is a critical need for genetic biomarkers that could promote market expansion on a global scale. Furthermore, the Genomic Biomarkers market is also driven by the increasing availability of genomic data and the surge in the usage of artificial intelligence and machine learning in genomic research. These technologies can process large amounts of genomic data and identify patterns and associations that would otherwise be difficult to identify using traditional methods. This, in turn, is projected to accelerate the development of Genomic Biomarkers and their adoption in clinical practice.

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Key Highlights

• North America resulted in more than 40.6% of revenue share in 2022.
• The Asia Pacific region is projected to increase at the fastest CAGR from 2023 to 2030.
• By Type, the Prognostic Biomarkers segment contributed most of the revenue share in 2022.
• By Disease Indication, the Oncology segment registered a major market share in 2022.
• By End-user, the hospital segment recorded the major market share in 2022.

Economic Insights

Economic changes can greatly impact the genomic biomarker market. For example, the COVID-19 pandemic has disrupted global economies and healthcare systems, leading to a slowdown in research and development activities related to Genomic Biomarkers. However, it has also highlighted the importance of genomics in understanding and combating diseases, leading to increased investments in genomic research. On a global scale, the Genomic Biomarkers market is influenced by government policies, funding availability, and collaborations between research institutions, healthcare providers, and pharmaceutical companies. Different regions may have varying levels of adoption and implementation of Genomic Biomarkers due to differences in healthcare infrastructure, regulations, and reimbursement policies.

Top Market Trends

1. Increasing demand for personalized medicine: The growing prevalence of chronic diseases has raised the need for personalized medicine customized to individual patients. Genomic Biomarkers play a vital role in providing personalized and precise treatment by identifying biomarkers that predict an individual's response to a particular treatment.
2. Technological advancements: Advancements in technology such as next-generation sequencing, high-throughput screening, microarray analysis, and others have expanded the scope of Genomic Biomarkers in drug discovery and clinical research. This has resulted in the development of new Genomic Biomarkers and the identification of potential drug targets.
3. Rising applications in oncology: Genomic Biomarkers are widely used in oncology for early cancer detection, diagnosis, and treatment. The use of Genomic Biomarkers for cancer diagnosis and treatment has increased over the years due to their ability to provide accurate diagnosis and personalized treatment options.
4. Increased focus on precision medicine: The shift towards precision medicine has led to significant growth in the Genomic Biomarkers market. Developing biomarkers for various diseases, including cancer, cardiovascular diseases, and neurological disorders, has boosted the demand for Genomic Biomarkers.
5. Increase in research funding: The increase in funding for genomic research by government and private organizations is expected to drive the growth of the Genomic Biomarkers market. This funding aims to develop new biomarkers for disease diagnosis, drug discovery, and clinical research.

Market Segmentation

The global Genomic Biomarkers market can be categorized on the following: Type, Disease Indication, Validation, End-User, and Region. Based on Type, the market can be categorized into Prognostic Biomarkers and Predictive Biomarkers. Furthermore, based on the Disease Indication segment, the market can be further segmented into Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, and Other Disease Indications. Moreover, based on Validation, the market is segmented into Analytical Validation, Clinical Validation, and Clinical Utility. In addition, based on End-user, the market can be divided into Hospitals, Diagnostic Centers, Research Laboratories, and Other End Users. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Type

Prognostic Biomarkers to Have Highest Market Share

Prognostic biomarkers are a type of genomic biomarker that helps predict a disease or treatment outcome. The Genomic Biomarkers market is expected to reach the highest growth rate, with prognostic biomarkers being a vital segment of the overall market. These biomarkers play a critical role in personalized medicine as they help physicians to determine the most appropriate treatment for patients. The increasing demand for personalized medicine drives growth in the global Genomic Biomarkers market, the rising prevalence of chronic diseases, and advancements in genomic technology such as next-generation sequencing.

Based on Disease Indication

Oncology Segment to Have Largest Revenue

The oncology segment in the global Genomic Biomarkers market is rapidly expanding as genetic testing, and genomic profiling is used to identify unique cancer markers, predict treatment outcomes, and determine prognosis. Genomic Biomarkers are helping clinicians personalize cancer diagnosis and treatment plans, one of the biggest challenges in oncology. Genomics and personalized medicine advancements have helped drive growth in this segment, with increasing demand from patients and healthcare providers. Cancer biomarkers such as EGFR, HER2, and KRAS are commonly used to select targeted therapies and predict patient outcomes. It is expected that oncology will continue to be a key area of focus in the global Genomic Biomarkers market.

Based on Validation

Clinical Validation to Express Major Market

The biggest market segment in the genomic biomarker market is typically the clinical validation segment. This is because clinical validation is crucial for demonstrating the usefulness and accuracy of Genomic Biomarkers in diagnosing diseases, predicting patient outcomes, and guiding treatment decisions. Clinical validation involves conducting studies and trials to show that a biomarker is clinically relevant and provides reliable information for patient management. Analytical validation, on the other hand, focuses on assessing the performance and accuracy of the testing methods used to detect and measure biomarkers. While analytical validation is essential in developing and implementing biomarker tests, the clinical validation segment tends to be larger in terms of market size and demand.

Based on End-user

Hospital Segment to Accommodate Foremost Revenue

The hospital segment in the global Genomic Biomarkers market is projected to expand significantly due to the increasing demand for personalized medicine. Hospitals are the primary facilities where patients seek medical help for various diseases and conditions. Incorporating Genomic Biomarkers in hospitals has revolutionized the healthcare industry, and it has become a valuable tool in disease management and diagnosis. Hospitals use Genomic Biomarkers to identify genetic mutations in patients and match these with targeted therapy. The Genomic Biomarkers also help hospitals with a personalized treatment plan for each patient, improving their overall health outcomes. Additionally, the ease of access to genomic biomarker testing in hospitals has significantly contributed to the growth of this segment in the global Genomic Biomarkers market.

Based on Region

North America to Dominate the Global Market

The North American Genomic Biomarkers market is witnessing major growth due to the rising adoption of precision medicine and the rising demand for personalized medicine. The Genomic Biomarkers market holds immense potential for healthcare providers to improve patient outcomes and reduce costs by identifying the most effective treatments for a patient's genetic makeup. The presence of a well-established healthcare infrastructure and the availability of advanced technologies contribute to the growth of the Genomic Biomarkers market in the region. The increase in the prevalence of chronic diseases, such as cancer and cardiovascular diseases, also fuels the demand for Genomic Biomarkers in North America. The market is dominated by some major players such as F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., and QIAGEN. Additionally, the increasing funding for genomics research and the growing government initiatives to promote precision medicine are expected to propel market growth in the coming years. The North American Genomic Biomarkers market is expected to grow in the forecast period.

The Asia Pacific Genomic Biomarkers market will grow significantly in the coming years. Rising incidences of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders drive the demand for Genomic Biomarkers. Adopting precision medicine practices and increasing government support for genomic research also contribute to market growth. China and India will likely contribute significantly to the Asia Pacific Genomic Biomarkers market due to their large population base and increasing healthcare expenditure. Several companies focusing on genomics research and development are based in these countries. Moreover, the technological advancements in the field of genomics and the availability of skilled professionals in the region are boosting the market's growth.

Competitive Landscape

The global Genomic Biomarkers market is highly competitive, with several key players operating. The market players are investing heavily in research & development activities to develop advanced genomic biomarker-based products to meet the increasing demand from healthcare providers and researchers. For instance, Thermo Fisher Scientific Inc. and Illumina, Inc. are among the top players in the global Genomic Biomarkers market, offering various genomic biomarker-based products for research and diagnostics purposes. Thermo Fisher Scientific Inc. provides a comprehensive range of products for genomic analysis, including DNA sequencing and genotyping products. At the same time, Illumina, Inc. offers a range of genomic biomarker-based tests for oncology and other diseases.

The key players in the global Genomic Biomarkers market include - Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), QIAGEN (Germany), Bio-Rad Laboratories Inc. (U.S.), Myriad Genetics Inc. (U.S.), Eurofins Scientific (Luxembourg), Almac Group (UK), Agilent (U.S.), Illumina (U.S.), Pfizer Inc. (U.S.), Danaher Corp. (U.S.), Siemens Healthineers AG (Germany), Merck KGaA (Germany) among others.

Recent Market Developments

• August 2022: The FDA has approved Roche's companion diagnostic to identify dMMR solid tumor patients suitable for anti-PD-1 immunotherapy.
• August 2022: An agreement to buy all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A., a Warsaw, Poland-based developer of innovative technology solutions for the medical diagnostic and healthcare markets, has been reached, according to Bio-Rad Laboratories, Inc., a world leader in life science research & clinical diagnostic products. The purchase price could reach $170 million, with around $100 million in cash and the remaining $70 million.

Segmentation of the Global Genomic Biomarkers Market