Genomic biomarkers help in personalized treatment of diseases and conditions by analyzing genetic variations at molecular level. These biomarkers enable non-invasive detection of cancer, neurological disorders, and cardiovascular diseases at early stages. Advancements in genome sequencing technologies have made genomic biomarkers reliable tools for risk assessment, diagnosis, prognosis, and therapeutic applications. The global Genomic Biomarker Market is estimated to be valued at US$ 5271.63 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The increasing adoption of personalized medicine driven by advancement in genomic technologies has accelerated the growth of genomic biomarker market over the forecast period. Genomic biomarkers help in development of customized treatment plans for individual patients based on their genetic makeup. This enables medical practitioners to prescribe appropriate therapeutic measures that consider patient’s genetic predisposition to certain diseases. Growing research in pharmacogenomics to develop targeted drugs specific for a genotype is also favoring the demand for genomic biomarkers.

 

Segment Analysis

The global genomic biomarker market is dominated by the biomarker-based diagnostic sub segment. This is because genomic biomarkers provide non-invasive diagnostic solutions that aid in early disease detection and monitoring disease progression or treatment response. Genomic biomarkers help in personalized treatment planning and help physicians select appropriate therapies.

 

Key Takeaways

The Global Genomic Biomarker Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach a value of US$ 5271.63 Mn by 2023 and projected to grow at a CAGR of 4.8% during the forecast period.

 

Regional analysis

North America is currently dominating the global genomic biomarker market. This is attributed to factors such as rising implementation of preventive healthcare programs, increasing adoption of biomarker-based diagnostic tools for personalized medicine, growing demand for non-invasive diagnostic procedures, and strong presence of key market players in the region. Asia Pacific is expected to witness the fastest growth over the coming years. Rapidly improving healthcare infrastructure, growing medical tourism sector, rising focus on precision medicine, and increasing healthcare spending are some of the key factors driving the genomic biomarker market in the Asia Pacific region.

 

Key players

Key players operating in the genomic biomarker market are Fera Pharmaceuticals, Pfizer, Novartis AG, Merck KGaA, Baxter, Cipla Limited, Zydus Cadila, Lupin Pharmaceuticals, Inc., UCB, Inc., APOTEX INC, and Moleculin Biotech, Inc. Fera Pharmaceuticals and Pfizer have wide biomarker-focused drug portfolios and offer non-invasive diagnostic tests. Novartis and Merck are actively investing in biomarker research to develop targeted therapy options.


Get More Insights Here

https://www.newsstatix.com/genomic-biomarkers-market-size-share-growth-outlook-2023/