(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The "Genomics Biomarkers market by Type, by disease Indication, by Validation, by End- User, and by Region" report has been added to ResearchAndMarkets.com's offering.
The global genomics biomarkers market accounted for USD 8.94 billion in 2023 and is expected to reach at USD 52.92 billion by 2034 with a CAGR of 17.54% during the forecast period 2024-2034. The market will grow due to factors such as the growing demand for personalized medicine, the prevalence of chronic diseases on the rise, government and private funding, collaborations and partnerships, and advancements in genomic technologies.
A personalized medicine approach considers the differences in each patient's genetic makeup, lifestyle, and environment. Patients who are more likely to respond to a given medication can be identified using genomic biomarkers. This may result in more focused and efficient treatment plans. For instance, Illumina announced in February 2024 the release of the new NovaSeq X Plus sequencing technology, which provides better throughput and quicker run times for NGS applications in clinical and genomics research contexts. North American region is anticipated to have the highest revenue share during the forecast period owing to the robust investment in genomics research, advanced healthcare infrastructure, and favorable regulatory environment, fostering widespread adoption of genomics biomarkers in North America.
Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness about personalized medicine, rising healthcare expenditure, and growing investments in genomics research and healthcare infrastructure in the Asia Pacific region. For instance, PerkinElmer introduced a new digital PCR platform in October 2023 that offers improved sensitivity and precision for identifying uncommon genomic biomarkers linked to a range of disorders.
By type, the predictive biomarkers segment accounted for the highest revenue-grossing segment in the global genomics biomarkers market in 2023 owing to the growing demand for personalized medicine and targeted therapies, which rely heavily on predictive biomarkers to tailor treatments to individual genetic profiles.
For instance, in April 2024, Thermo Fisher Scientific purchased Ion Torrent, a supplier of semiconductor-based sequencing technology, increasing the range of NGS products they offer for the development and identification of biomarkers. Additionally, the prognostic biomarkers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on disease prognosis and patient outcomes, driving the demand for prognostic biomarkers for early prediction and management of diseases.
By disease indication, the oncology segment accounted for the highest revenue-grossing segment in the global genomics biomarkers market in 2023 owing to the growing prevalence of cancer and the need for precision medicine approaches, where genomics biomarkers play a crucial role in diagnosis, prognosis, and treatment selection. For instance, in March 2024, QIAGEN used its experience in sample preparation and biomarker analysis to work with a top pharmaceutical company to produce a companion diagnostic test for a new cancer treatment.
Additionally, the neurological diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing understanding of the genetic basis of neurological disorders and the development of targeted therapies, driving demand for genomics biomarkers for early detection and personalized treatment approaches.
By validation, the analytical validation segment accounted for the highest revenue-grossing segment in the global genomics biomarkers market in 2023 owing to the stringent regulatory requirements and the need for robust validation processes to ensure accuracy, reproducibility, and reliability of genomics biomarker tests, especially in clinical settings. For instance, F. Hoffmann-La Roche in December 2023 obtained FDA permission for a novel liquid biopsy test that makes use of technologies from their subsidiary
Foundation Medicine to find genetic changes in cancer patients that can help with therapy selection. Additionally, the clinical validation segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of genomics biomarkers in clinical practice and the emphasis on validating their clinical utility for disease diagnosis, prognosis, and treatment selection.
By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global genomics biomarkers market in 2023 owing to the growing integration of genomics biomarkers into routine clinical practice and the increasing adoption of personalized medicine approaches in hospital settings. For instance, in January 2024, Agilent Technologies and a significant university partnered to create a new bioinformatics platform designed to analyze and interpret complicated genomic biomarker data.
Additionally, the research laboratories segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding research activities in genomics, biomarker discovery, and drug development, driving demand for genomics biomarkers and related services in research laboratory settings.
Report Scope:
Base Year: 2023 Forecast Period: 2024-2034 Study Coverage Market Forecast by Type, Disease Indication, Validation, and End-User Market Forecast for 5 Regions and 17+ Countries North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA) Exhaustive Company Profiles of the Top 10+ Major Market Players 20% Free Customization Available to Meet Your Exact Requirement
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $8.94 Billion |
| Forecasted Market Value (USD) by 2034 | $52.92 Billion |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
Companies Featured
Illumina Inc. Thermo Fisher Scientific Inc. QIAGEN N.V. F. Hoffmann-La Roche Ltd. Bio-Rad Laboratories Inc. Agilent Technologies Inc. PerkinElmer Inc. Pacific Biosciences of California Inc. Myriad Genetics Inc. Genomic Health Inc. (a subsidiary of Exact Sciences Corporation) Foundation Medicine Inc. (a subsidiary of Roche) BGI Group Eurofins Scientific NanoString Technologies Inc. Guardant Health Inc.
Genomics Biomarkers Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
Predictive Biomarkers Prognostic Biomarker
Genomics Biomarkers Market Analysis & Forecast by Disease Indication 2023 - 2034 (Revenue USD Bn)
Oncology Cardiovascular Diseases Neurological Diseases Renal Disorders Others
Genomics Biomarkers Market Analysis & Forecast by Validation 2023 - 2034 (Revenue USD Bn)
Analytical Validation Clinical Validation Clinical Utility
Genomics Biomarkers Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
Diagnostic Research Laboratories Hospitals Others
Genomics Biomarkers Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America U.S. Canada Europe Germany France UK Spain Italy Rest of Europe Asia Pacific China Japan India Australia South Korea Rest of APAC Latin America Brazil Mexico Argentina Rest of LATAM Middle East & Africa South Africa GCC Rest of MEA
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Global Genomics Biomarkers Market
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