The global Blood Based Biomarker Market is estimated to be valued at US$ 18.8 billion in 2022 and is expected to exhibit a CAGR of 12.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blood based biomarkers offer promising solutions for disease diagnosis, prognosis, and monitoring the progression and effectiveness of therapies. They can be isolated from a simple blood draw rather than from invasive tissue biopsies. Blood based biomarkers provide a less painful and more convenient method of disease screening compared to traditional diagnostic methods.
Market key trends:
The increasing adoption of personalized medicine coupled with growing prevalence of cancer globally is expected to drive the growth of the blood based biomarker market. Personalized medicine utilizes an individual’s molecular profile to guide decisions made in regard to prevention, diagnosis, and treatment of disease. Blood based biomarkers play a crucial role in understanding disease biology and identifying therapeutic strategies for individual patients. Rapid advancement in genomics and proteomics for diagnosing and monitoring various diseases offers lucrative growth opportunities over the forecast period.
Segment Analysis
The global blood-based biomarker market is segmented based on disease indication, product type, and end user.
The disease indication segment includes cancer, cardiovascular diseases, neurological diseases, immunological diseases and others. The cancer segment currently dominates the market due to the increasing prevalence of cancer worldwide and growing adoption of blood-based biomarker tests for cancer screening, diagnosis and monitoring.
The product type segment includes protein-based biomarkers, nucleic acid-based biomarkers, and others. The protein-based biomarkers segment holds the largest share as most biomarkers discovered so far are proteins.
By end user, the market is divided into diagnostic centers, hospitals and clinics, research institutes and others. The diagnostic centers segment accounts for the largest share owing to the increasing use of blood-based biomarker tests for early disease detection in these centers.
Key Takeaways
- The Global Blood-Based Biomarker Market Size is expected to witness high growth, exhibiting a CAGR of 12.8% over the forecast period, due to the rising prevalence of chronic diseases, growing demand for non-invasive diagnostic procedures, and increasing application of blood-based biomarkers in drug discovery and development.
- North America dominates the global market due to the rising geriatric population, growing adoption of personalized medicine, and advanced healthcare infrastructure in the region. However, Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing healthcare expenditure and improving healthcare facilities in emerging countries of the region.
- Key players operating in the blood-based biomarker market are 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., and C2N Diagnostics. Major players are focusing on new product launches, partnerships, and funding & investments to strengthen their presence and expand their product portfolio.
Read more: https://www.rapidwebwire.com/blood-based-biomarker-market-insights-trends/
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