Blood based biomarkers are biological molecules found in blood that are used to detect specific disease conditions or monitor treatment response and recovery. Some key applications of blood based biomarkers include monitoring disease progression in cancer patients during and after treatment. Cancer biomarkers aid in screening, detecting cancer at early stages, and monitoring response to therapy and recurrence over time. The global rising prevalence of various types of cancer is expected to drive the demand for blood based cancer biomarkers. According to the World Health Organization (WHO), cancer burden has risen to 19.3 million new cases and 10.0 million cancer deaths in 2020.

The global blood based biomarker market is estimated to be valued at US$ 21.21 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The Global Blood Based Biomarker Market Size is majorly driven by the rising prevalence of cancer worldwide. Cancer has become one of the leading causes of death globally and accounts for nearly 10 million deaths annually. According to the National Cancer Institute, the prevalence of cancer is expected to reach almost 30 million new cancer cases by 2040. Blood based cancer biomarkers help in early detection, prognosis assessment, and monitoring treatment response and recurrence of cancer, which is expected to increase their demand significantly over the forecast period. Moreover, the increasing research and development activities focused on discovering novel blood based biomarkers for various diseases including cancer is also expected to support the market growth during the forecast period. However, high cost of biomarker discovery and development and stringent regulatory approval process for biomarkers are some of the factors expected to hinder the market growth to some extent.

SWOT Analysis

Strength: The blood based biomarker market has high potential for early disease detection and diagnosis. Blood samples are easy to collect and contain a wealth of biochemical information about health status. Biomarker tests also offer less invasive options compared to tissue biopsies. Research is ongoing to identify new biomarkers for a wide range of diseases.
Weakness: Developing sensitive and specific biomarker tests is technically challenging and expensive. False positive or negative results can occur. Further validation studies are needed before many biomarkers can be used routinely in clinical practice. Reliance on blood testing alone may miss localized disease processes.
Opportunity: The aging global population is driving demand for improved tools for screening, diagnosing, and monitoring chronic illnesses. Biomarkers help optimize treatment selection and allow for more personalized healthcare approaches. Partnerships between industry and research institutes can help biomarkers progress from research to commercial products more rapidly.
Threats: Reimbursement issues may slow the adoption of new biomarkers. Competing diagnostic technologies also pose a threat. Scientific progress does not always translate smoothly into commercial successes. Biomarker development requires long timeframes and large investments with uncertain returns. Regulations for validation and approval must balance innovation needs against patient safety.

Key Takeaways

The global blood based biomarker market is expected to witness high growth over the forecast period of 2023 to 2030 supported by a growing elderly population and rising demand for non-invasive diagnostic tools. The market size valued at US$ 21.21 Bn in 2023 is projected to reach over US$ 42 Bn by 2030, registering a CAGR of 15% during the forecast period.

Regional analysis

North America currently dominates the global market due to presence of major biomarker companies, favorable regulatory environment and rising healthcare expenditure in the region. However, Asia Pacific region is expected to grow at the fastest pace over the coming years led by China, Japan and India. Increasing investments by governments and private players to strengthen healthcare infrastructure as well as rising awareness about early disease detection are major factors fueling biomarker market growth across Asia Pacific.

Key players

Key players operating in the blood based biomarker market include Neste, AEMETIS INC., Gevo, Shell PLC, Lanza Jet, and Sky NRG. Neste is one of the world's largest producers of renewable diesel made from waste and residue materials. AEMETIS produces low carbon renewable fuels like renewable jet and diesel fuel using waste biomass. Gevo develops renewable gasolines, jet fuels and diesel fuel using synthetic biology and fermentation processes. Shell is a major energy company involved in gasoline and diesel production as well as research on biofuels. LanzaTech and SkyNRG produce sustainable aviation fuel from industrial off-gases and waste biomass via fermentation technologies.

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