Predictive Biomarkers Market by Material, Type, Application & Geography | COVID-19 Impact Analysis

Research Nester published a report titled “Predictive Biomarkers Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global predictive biomarkers market in terms of market segmentation by indication, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global predictive biomarkers market is estimated to gain a significant CAGR over the forecast period, i.e., 2022–2030. The market is segmented on the basis of application into screening, analysis, diagnosis, prediction, monitoring, and others, out of which, the prediction segment is projected to hold the leading share in the market during the forecast period owing to the increasing demand for measuring the likelihood of response of the treatment, as it can improve the success rate of the treatment.

The global predictive biomarkers market is estimated to grow on the back of increasing prevalence of chronic diseases, such as, cancer, along with the growing need to study the likelihood of response of a treatment in patients. Use of predictive biomarkers provide a clearer result of how the body reacts towards a specific therapy or treatment method. This reduces the time of treatment, increases the chances of recovery and save the patient from undergoing many therapies. These factors are estimated to boost the market growth in the upcoming years.

Regionally, the global predictive biomarkers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is anticipated to gain the largest share over the forecast period, on the back of increasing research and development activities, and high healthcare expenditure in the region. As per the data by World Bank, in 2018, 16.416% of the total GDP was spent on the healthcare in North America. The market in the Asia Pacific is estimated to experience notable growth owing to the increasing prevalence of cancer and diabetes, and improving healthcare sector, backed by the economic growth in the region.

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 Need for Measuring the Probability of Response of Treatment to boost the Market Growth

The growing prevalence of chronic diseases, and lack of specific treatment for such diseases, has increased the demand for technology that is able to study the response of therapy on the disease, and on patient’s physiology. This is expected to boost the growth of the market. As per the report of WHO, globally, diabetes is responsible for 1.6 million deaths every year, whereas cancer causes over 10 million deaths annually. Moreover, the advancement in healthcare technology is also estimated to boost the market growth.

However, lack of efficient healthcare facilities in developing nations, and need for high initial investments are expected to operate as key restraint to the growth of the market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global predictive biomarkers market, which includes company profiling of Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Epigenomics AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., QIAGEN GmbH, Danaher Corporation, Biomarker Technologies, Inc., Almac Group Limited, and Myriad Genetics, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global predictive biomarkers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.      

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