Market Size of Genomic Biomarkers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Genomic Biomarkers Market Analysis
The global genomic biomarkers market is expected to witness a CAGR of 9.2% over the forecast period. The rising burden of chronic diseases (cardiovascular diseases, cancer, strokes, and arthritis), high demand for minimally invasive procedures, technological advancements, development in R&D, and the infrastructure for data sharing and the demand for personalized medicines are expected to drive the growth during the forecast period. Technologies such as Gene Expression Profiling (microarray) and Next-Generation Sequencing (NGS) are currently the leading advances in this market segment. According to the World Health Organization's estimation in 2018, nearly 1 out of every 6 death is due to cancer followed by cardiovascular diseases, which accounts for the number one cause of death in the world. In August 2020, GeneCentric Therapeutic announced its entry into a research collaboration with Janssen Research & Development, LLC around an RNA-Based genomic biomarker, to develop novel non- invasive bladder cancer (NMIBC). According to a 2015 publication by the United States Food and Drug Administration (USFDA), they have undertaken several initiatives to initiate the use of genomic biomarkers in the development of medicinal products. However, high cost, complex development process, stringent government regulations and lack of standardized means to validate the marker may impose few challenges in the growth of genomic biomarkers market.
Genomic Biomarkers Industry Segmentation
Genomic biomarkers are Deoxyribonucleic acid (DNA) and Ribonucleic acid (RNA) characteristics, that are used as an indicator of diagnosis, disease characterization, and therapy selection. It reflects biological and pathogenic processes and response to therapeutic or other intervention. They are variant in the DNA code that alone or in combination enables early detection of disease by predicting its risk and improves patient treatment by monitoring the outcomes.
| By Indication | |
| Oncology | |
| Cardiovascular diseases | |
| Neurological diseases | |
| Renal Disorders | |
| Others |
| By End User | |
| Hospitals | |
| Diagnostic Centers | |
| Others |
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Genomic Biomarkers Market Size Summary
The genomic biomarkers market is poised for significant growth, driven by the increasing prevalence of chronic diseases such as cancer and cardiovascular conditions, alongside the rising demand for minimally invasive procedures. Technological advancements in gene expression profiling and next-generation sequencing are at the forefront of this market's expansion. The push towards personalized medicine and improved data-sharing infrastructure further propels market growth. However, challenges such as high costs, complex development processes, stringent regulations, and a lack of standardized validation methods may hinder progress. The oncology segment is anticipated to lead market growth, fueled by the rising incidence of various cancers and the development of targeted therapies.
Geographically, North America is expected to dominate the market, supported by a robust healthcare infrastructure, favorable government policies, and substantial research funding. The United States, in particular, is a key player, with significant investments in R&D and advanced technologies. The competitive landscape of the genomic biomarkers market is intense, with major companies like Thermo Fisher Scientific, F. Hoffmann-La Roche, and Myriad Genetics actively engaging in product innovations, expansions, and strategic mergers and acquisitions to enhance their market presence. These dynamics suggest a promising growth trajectory for the market over the forecast period.
Genomic Biomarkers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevelance of Chronic Diseases
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1.2.2 Technological Adancements in Molecular Biology, Genetics, Omics Technologies and Bioinformatics
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1.2.3 Growing Awareness about Genomics Biomarkers
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1.3 Market Restraints
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1.3.1 Lack of Standardized Means for Validating the Marker
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1.3.2 Stringent Government Regulations
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Indication
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2.1.1 Oncology
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2.1.2 Cardiovascular diseases
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2.1.3 Neurological diseases
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2.1.4 Renal Disorders
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2.1.5 Others
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Diagnostic Centers
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Genomic Biomarkers Market Size FAQs
What is the current Genomic Biomarkers Market size?
The Genomic Biomarkers Market is projected to register a CAGR of 9.20% during the forecast period (2024-2029)
Who are the key players in Genomic Biomarkers Market?
Thermo Fisher Scientific Inc. , F. Hoffmann-La Roche Ltd , Myriad Genetics Inc, Eurofins Scientific and QIAGEN are the major companies operating in the Genomic Biomarkers Market.
