New York, July 01, 2024 (GLOBE NEWSWIRE) -- Overview
The global Personalized Medicine Biomarker Market size is expected to reach USD 17.0 billion by 2024 and it is further anticipated to reach a market value of USD 72.7 billion by 2033, according to Dimension Market Research. The market is anticipated to register a CAGR of 17.5% from 2024 to 2033.
The global personalized medicine biomarker market constitutes a comprehensive ecosystem dedicated to identifying and utilizing biomarkers in personalized medicine. Tailoring treatments to individual patient characteristics optimizes therapeutic outcomes.
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Biomarkers, such as genetic or molecular signatures, crucially inform diagnosis and guide treatment decisions across diverse applications, shaping a transformative landscape in personalized healthcare.
Important Insights
- Market Size: Projections suggest a substantial surge, within the global personalized medicine biomarker market as it is expected to show noteworthy growth by reaching USD 72.7 billion by 2033 at a CAGR of 17.5%.
- Indication Segment Insights:
- Oncology is projected to commands a significant 33.1% of the global personalized medicine biomarker market in 2024 in terms of indication.
- Following oncology, cardiology emerges as the second-leading segment in terms of indication, driven by global cardiovascular disease prevalence. Key biomarkers like troponins, BNP, and CRP aid in risk prediction and personalized treatment.
- Application Segment Insights: Treatment selection is projected to dominates the personalized medicine biomarker market with a 62.0% share in 2024, emphasizing its impact on patient outcomes.
- Regional Insights: North America, particularly the United States, commands 37.2% of the global personalized medicine biomarker market in 2024 driven by well-established research institutions, robust biotech investment, advanced healthcare infrastructure.
Latest Trends
- Genomic Technologies Advancements: Next-generation sequencing and gene editing tools drive biomarker identification, transforming personalized medicine progress globally.
- Liquid Biopsy Revolution: Liquid biopsy technologies, particularly in oncology, revolutionize diagnostics and monitoring, offering non-invasive biomarker detection methods.
- Increase in Chronic Disease Incidence: Rising chronic disease cases and a precision medicine focus fuel demand for personalized solutions and biomarker-based diagnostics.
Personalized Medicine Biomarker Market: Competitive Landscape
- The competitive landscape of the global personalized medicine biomarker market is shaped by key players such as Illumina, Roche Diagnostics, and Thermo Fisher Scientific lead in genomics, diagnostics, and biomarker discovery, shaping the dynamic landscape.
- Qiagen, Bristol Myers Squibb, Foundation Medicine, Exact Sciences, Myriad Genetics, NanoString, and Veracyte contribute expertise in molecular diagnostics and personalized medicine, enhancing the market's evolution.
- These companies in the global personalized medicine biomarker market employ strategic partnerships and collaborations to enhance product portfolios, expand market reach, and form alliances with healthcare providers, research institutions, and technology companies globally to gain a competitive edge.
Some of the prominent market players:
- Laboratory Corporation of America Holding
- Quest Diagnostics Incorporated
- Agilent Technologies Inc.
- Genome Medical Inc.
- Coriell Life Sciences.
- Thermo Fisher Scientific Inc.
- NeoGenomics Laboratories
- FOUNDATION MEDICINE INC.
- Illumina Inc.
- Guardant Health
- Other Key Players
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Personalized Medicine Biomarker Market Scope
| Report Highlights | Details |
| Market Size (2024) | USD 17.0 Bn |
| Forecast Value (2033) | USD 72.7 Bn |
| CAGR (2024-2033) | 17.5% |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 37.2% |
| Historical Data | 2017 - 2022 |
| Forecast Data | 2025 – 2032 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Indication, By Application |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Market Analysis
In the context of indication, Oncology is projected to commands a significant 33.1% market share in this market in 2024. This dominance is fueled by the global cancer prevalence and the need for targeted treatments. Genomic technology advancements enable personalized approaches, identifying biomarkers for cancer diagnosis and treatment selection.
Oncology leads to targeted therapy development, optimizing efficacy, and minimizing interventions. Cardiology follows, leveraging biomarkers like troponins and BNP for risk prediction and treatment tailoring, reflecting the transformative potential of biomarkers in diverse medical specialties.
Personalized Medicine Biomarker Market Segmentation
By Indication
- Oncology
- By Type
- Breast Cancer
- Lung Cancer
- Colon Cancer
- Others
- By Circulation Biomarkers
- Circulating Tumor Cells (CTCs)
- Circulating Cell-free DNA (cfDNA)
- Extracellular Vehicles (EVs)
- Others
- By Type
- Cardiology
- Neurology
- Diabetes
- Autoimmune Diseases
- Others
By Application
- Treatment Selection
- Early Detection
- Diagnosis
- Monitoring
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Growth Drivers
- Companion Diagnostics Impact: Biomarker-integrated companion diagnostics enhance drug development efficiency and clinical decision-making, bolstering the personalized medicine sector.
- AI-driven Data Integration: Large-scale biological data integration, aided by artificial intelligence and advanced analytics, contributes to meaningful biomarker discovery in personalized medicine.
- Patient-Centric Global Expansion: Increasing patient awareness, a desire for personalized healthcare, and global market expansion strategies drive biomarkers' central role in tailoring medical treatments.
Restraints
- Challenges in biomarker adoption persist despite overall market growth. External factors, such as changing market trends and a decrease in several biomarker applications, negatively impact market growth. This steady decline in demand for personalized medicine biomarkers poses a restraint.
- Regulatory and ethical considerations play a significant role in the personalized medicine biomarkers market. Regulations and ethical practices influence which biomarkers are admissible for use. These considerations are crucial for advancing personalized medicine and leveraging biomarkers for disease diagnosis.
Growth Opportunities
- Individualized therapeutic techniques present significant business prospects. According to a new research report, the market is expected to expand due to the development of biomarkers for therapeutic interventions. This opportunity is supported by the recognized advantages of personalized medicines and funding for biomarker studies.
- Biomarkers are crucial for market development, driving the overall growth of personalized medicine. Their integration into algorithms for biomarker identification increases market coverage and stimulates market development. This creates opportunities for market entry and the creation of new biomarkers in molecular diagnostics.
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Regional Analysis
North America, is anticipate to hold 37.2% of the global personalized medicine biomarker market in 2024, particularly the United States, plays a pivotal role. Renowned research institutions, robust biotech investment, advanced healthcare infrastructure, regulatory support, and collaboration networks contribute to its leadership.
While North America currently leads this market, Europe and Asia-Pacific exhibit significant growth, hinting at evolving market dynamics globally.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
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Recent Developments in the Personalized Medicine Biomarker Market
- November 2023:Massive Bio and Health in Code have partnered to advance personalized oncology treatment in Spain, leveraging AI and genomic testing for precise, individualized cancer therapies. The collaboration emphasizes patient-centricity and plans educational events on biomarker detection's benefits in personalized medicine.
- September 2023:Ibex introduces Galen™ Breast HER2, an AI solution developed with AstraZeneca and Daiichi Sankyo for precise HER2 scoring in breast cancer pathology, ensuring higher standards in assessment.
- August 2023:BostonGene, NEC, and JIP collaborate in Tokyo, forming BostonGene Japan Inc. to advance personalized medicine using molecular technology, AI, and biocomputational algorithms, focusing on cancer care and therapy development.
- June 2023:Paige launched Paige Colon MSI, an AI-based assay for swift microsatellite instability (MSI) detection in colon cancers, aiming to expedite diagnostics and reduce screening costs for pathologists. Initially for research use, plans include broader cancer screening enhancements.
- January 2023: Alto Neuroscience's ALTO-100, a precision psychiatry drug for major depressive disorder, shows positive Phase IIa results, validating biomarker-driven personalized treatment and shifting psychiatric paradigms.
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