Diagnostic Biomarkers Market is Expected to Grow with a CAGR of 12.1% from 2022 to 2028
As stated by in our extensive report, providing insights on Type, Application, and Services; the Global Diagnostic Biomarkers Market accounted for USD 45.9 Billion in 2021.
A diagnostic biomarker is a part of biological parameter that provide diagnosis of a disease. It is used to determine success of treatment or disease progression. These procedures can be performed in any of the finding such as, genetic, physiological, laboratory, anatomical, radiological, or other finding to bifurcate one disease from other.
Biomarkers are integrated with high data management technologies and key imaging; thus, it fulfils the need for early diagnosis and meets market expectations. Therefore, it is responsible for augmenting the growth of Diagnostic Biomarkers Market in coming years. In addition, advanced omics technologies provide analysis and identification of mutations & polymorphisms in key genes. Thus, it increases demand for genomic biomarkers and further boost market demand.
Since from past few years, healthcare industry uses advance technology such as, immunoassays, omics technologies, bioinformatics and diagnostic imaging. In addition, many market leaders are started investing in launching technologically advanced products that provide better patient safety and ease of use. Thus, it increases the demand for biomarkers applications in biomedical research. For instance, F. Hoffmann-La Roche Ltd.,a Swiss multinational healthcare company, launched two cardiac biomarker tests for high sensitive cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test (NT-proBNP) to support cardiovascular disease management and can help clinicians diagnose heart attacks & manage heart failure better. Also, QIAGEN N.V., a German provider of sample and assay technologies, launched the first FDA-approved tissue companion diagnostic, therascreen KRAS RGQ PCR Kit, to identify the KRAS G12C mutation in NSCLC tumors & expand precision medicine options in lung cancer.
North America is accounted the largest share of the Diagnostic Biomarkers Market during the forecast period. Rising research studies for the discovery & development of novel biomarkers, increasing adoption of advanced technologies like NGS, increasing use of biomarkers in patient stratification & drug development process and availability of large number of pharmaceutical companies are some other factors that fuels the growth of market in this region. In addition, various growth strategies adopted by key players, large adoption rate of biomarkers for disease diagnostics and increasing use of biomarkers in personalized medicine are augmenting the growth of Diagnostic Biomarkers Market in this region.
Some of the prominent players operating in the Global Diagnostic Biomarkers Market are Biocrates Life Sciences AG, Augurex Life Sciences Corp., Biomedical Corp., Target Discovery, Banyan Biomarkers, Inc., Astute Medical, Inc., Axela Inc..