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Written by Shalu Dhama » Updated on: November 19th, 2024
IMARC Group, a leading market research company, has recently releases report titled “Biomarkers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The study provides a detailed analysis of the industry, including the global biomarkers market report, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global biomarkers market size reached US$ 79.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach US$ 220.7 Billion by 2032, exhibiting a growth rate (CAGR) of 11.37% during 2024-2032. The rising prevalence of chronic diseases, ongoing developments in biotechnology and genomics, the shift toward personalized medicine, continuous advancements in analytical technologies, and increasing awareness among both healthcare professionals and patients about the benefits of biomarkers are some of the major factors propelling the market.
What are Biomarkers:
Biomarkers, alternatively referred to as biological markers, are molecules or genes that are utilized as indicators of the health and status of an organ, cell, or tissue. They are available in several types, including efficacy, safety, and validation. Biomarkers play a crucial role in enhancing the drug development process, sample preparation and assay development, and drug validation and testing. They prove extremely effective in risk assessment, molecular diagnostics, DNA fingerprinting, disease diagnosis, eliminating complexity, etc. Consequently, biomarkers find widespread applications in numerous sectors such as pharmaceutical, biotechnology, healthcare, etc.
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Biomarkers Market Trends and Drivers:
The rising incidences of various chronic diseases, including tumors, cancer, cardiovascular ailments, etc., are primarily driving the biomarkers market. Additionally, the increasing advancements in biomarker-based diagnostics, such as biomarker signatures resulting in early diagnosis, faster drug development, and non-invasive testing, are also positively influencing the global market. Besides this, the growing utilization of biomarkers to develop companion diagnostics for identifying drug target molecules and the shifting preferences toward personalized medicines are acting as significant growth-inducing factors. Moreover, the escalating inclination on biomarker studies from conventional pathophysiology and epidemiology methods and the elevating number of contract research organizations facilitating cost-effective clinical trials are further propelling the market growth. Apart from this, the inflating medical expenditure, especially in developing countries, and the emerging trend of integrating biomarkers with key imaging technologies that can offer clear images of oncology tumors and other problems and eliminate the possibility of radiation exposure during computed tomography (CT) scans and magnetic resonance imaging (MRI) scans are expected to catalyze the biomarkers market in the coming years.
Who are the key players operating in the industry:
What is included in market segmentation?
The report has segmented the market on the basis of product, type, disease, application and end user.
Breakup by Product:
Breakup by Type:
Breakup by Disease:
Breakup by Application:
Breakup by End User:
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Key highlights of the report:
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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