Jersey City, NJ, Dec. 04, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Blood-Based Biomarker Market - (By Type (Screening Biomarker, Diagnosis Biomarker, Others), By Disease (Cancer, Neurological Disorders, Others), By Application (Diagnostics, Drug Discovery, Personalized Medicine)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Blood-Based Biomarker Market is valued at US$ 18.25 Bn in 2022, and it is expected to reach US$ 51.71 Bn by 2031, with a CAGR of 12.44% during the forecast period of 2023-2031.
Biomarkers are substances, genes, or traits found in living things that may be quantified and analyzed to show whether biological processes are normal or aberrant, how a disease progresses, or how a treatment works. Numerous biological samples, such as blood, urine, saliva, and tissues, include biomarkers. One of the main growth areas for the biomarkers market is the rise in the prevalence of chronic illnesses like cancer, heart disease, neurological conditions, and infectious diseases. Market statistics are being driven by advancements in omics technologies, such as metabolomics and proteomics.
Omics technologies have completely changed the biomarker research landscape by making it possible to identify and analyze a vast array of biomarkers in biological samples, such as blood, urine, and tissue. This is explained by the increased incidence of chronic illnesses as well as technological developments in the creation of biomarkers and biomarker-based diagnostic procedures, including biomarker signatures, which are improving the prognosis for neurological disorders. In addition, the growing number of cases of infectious diseases and uncommon genetic disorders combined with an ageing population will drive the use of these drugs in the years to come. These substances are employed in medication research and development, safety evaluations, and diagnostics to determine the existence or danger of a certain disease.
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Recent Developments:
- In May 2023, Proteomedix made an official declaration regarding the agreement that has been reached, whereby Labcorp will take sole responsibility for developing and commercialising the Proclarix® Prostate Specific Antigen (PSA) test within the United States. Proclarix was developed to assist in identifying the risk of prostate cancer in men without a cancer suspicion who had an elevated total prostate-specific antigen (PSA) and a digital rectal examination demonstrating an enlarged prostate volume. The procedure utilized the identical blood sample as the PSA test. When applicable, the test provided a non-invasive substitute for a prostate biopsy, a procedure known for its substantial adverse effects.
List of Prominent Players in the Blood-Based Biomarker Market:
- Diadem srl
- Proteomedix
- Cleveland Diagnostics
- F. Hoffmann-La Roche Ltd.
- GENFIT
- Nutech Cancer Biomarkers India Pvt Ltd.
- SysmOex Corporation,
- Minomic,
- Creative Diagnostics,
- Eisai Co., Ltd.,
- C2N Diagnostics
- Others
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Blood-Based Biomarker Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 18.25 Bn |
| Revenue Forecast In 2031 | USD 51.71 Bn |
| Growth Rate CAGR | CAGR of 12.44% from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Type, Disease, Application |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
Market Dynamics:
Drivers:
Scientific advancements, enhanced understanding of biomarker utility, the possibility of therapeutic efficacy, and supportive regulatory frameworks have all contributed to increased investment in biomarker research. Biomarkers promise to transform healthcare delivery since they enable accurate diagnosis, timely treatment decisions, continuous monitoring of illnesses, and early identification. Pharmaceutical businesses, biotechnology companies, research institutes, and governmental entities have all made substantial investments with the aim of enhancing patient outcomes and decreasing healthcare expenses. Consequently, this adds to the lucrative growth of the market.
Challenges:
Payroll choices often demand evidence of the cost-effectiveness and clinical utility of biomarker tests. This data includes information on test accuracy, clinical outcomes, the impact on patient treatment, and possible cost savings. In particular, producing the necessary evidence for novel biomarkers can be costly and time-consuming. Limited reimbursement coverage or delays in reimbursement decisions may hinder the market availability and adoption of biomarker testing, especially for novel or inventive biomarkers.
Regional Trends:
The North American Blood Biomarker Market is expected to register a major market share in terms of revenue, and it is projected to grow at a high CAGR in the near future. The biotech and pharmaceutical industries in North America are among the best in the world, and they have invested heavily in the study and advancement of biomarkers. Market advancement is facilitated by this element. Biomarker-based diagnoses and treatments are also supported by the region's well-established healthcare infrastructure and advantageous government regulations. Moreover, throughout the forecast period, the growth of the worldwide blood-based biomarkers market is anticipated to be driven by the rising occurrence of neurological illnesses and cancer.
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Segmentation of Blood-Based Biomarker Market-
By Type-
- Screening Biomarker
- Diagnosis Biomarker
- Others
By Disease-
- Cancer
- Neurological Disorders
- Others
By Application-
- Diagnostics
- Drug Discovery
- Personalized Medicine
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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