Personalized Medicine Biomarkers Market Projected To Reach USD 43.07 Billion By 2030


 San Francisco, 13 Feb 2023: The Report Personalized Medicine Biomarkers Market Size, Share & Trends Analysis Report By Application (Early Detection, Diagnostics), By Indication (Oncology, Neurology), By Test Location, By Region, And Segment Forecasts, 2022 - 2030

The global personalized medicine biomarkers market size is expected to reach USD 43.07 billion by 2030, expanding at a CAGR of 15.51% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rising awareness, importance of predicting prognosis, and selection of dose. Moreover, personalized medicine biomarkers serve as an essential tool for the selection of patients and providing the right treatment to the right patient further propelling the demand for personalized medicine biomarkers.

Biomarkers are unique analytes that can be utilized to improve diagnosis forecast treatment outcomes and direct treatment decisions. They are crucial to personalized medicine. The increased usage of biomarkers to enhance patient outcomes is popular in clinical trials, and its use in clinical practice is expanding quickly. The development of personalized medicines using biomarkers is expected to create effective and safe therapies for every patient. This is a major relief for patients at advanced stages of chronic diseases like cancer, which further drives the market growth. For instance, in August 2022, VENTANA MMR RxDx Panel, an FDA approved first IHC-based assay used for the identification of patients with advanced cancer that is Pembrolizumab treatment eligible.

Early detection/screening biomarkers predict the outcome of disease in patient population prior to therapy. It can also help enrich clinical trials by helping choose patients more likely to respond to treatment. For instance, Oncotype Dx is a diagnostic test developed by Genomic Health, Inc. This test examines 21 genes and helps predict the likelihood of reoccurrence of breast cancer in a patient after initial treatment. In April 2022, updated ASCO guidelines recommended the usage of the Oncotype DX test for breast cancer patients at early stages to guide treatment decisions.

Moreover, biomarkers are used for their predictive and prognostic utility that helps predict the occurrence of a health condition. For instance, the prostate-specific antigen is used to predict the survival of patients with prostate cancer. CRP is used to predict disease-free survival in breast cancer and as a risk factor in cardiovascular disorders. Serum LDH helps predict survival in case of metastatic brain tumors. Similarly, CA125 helps predict metastatic diseases in patients with uterine carcinoma.

Furthermore, key players operating in the personalized medicine biomarkers industry are focusing on expanding and launching products that can be used for a wide range of applications. For instance, in October 2021, Agilent Technologies Inc. received FDA approval for Agilent Ki-67 IHC MIB-1 pharmDx (Dako Omnis), for the identification of patients with a high risk of breast cancer recurrence.

Access Research Report of Personalized Medicine Biomarkers Market @ https://www.grandviewresearch.com/industry-analysis/personalized-medicine-biomarkers-market-report

Personalized Medicine Biomarkers Market Report Highlights

  • Early detection/screening segment is expected to grow at the fastest CAGR owing to the need to provide early treatment to patients
  • Oncology segment held the largest market share in 2021 owing to the rising prevalence of cancer and the wide availability of FDA-approved personalized biomarkers tests for cancer
  • North America held the largest market share attributable to the presence of improved healthcare infrastructure, rising prevalence of target diseases, and increasing government funding for innovation in biomarkers

List of Key Players in the Personalized Medicine Biomarkers Market

  • Laboratory Corporation of America Holding
  • Quest Diagnostics Incorporated
  • Agilent Technologies, Inc.
  • Genome Medical, Inc.
  • Coriell Life Sciences.
  • Thermo Fisher Scientific Inc.
  • NeoGenomics Laboratories
  • FOUNDATION MEDICINE, INC.
  • Illumina, Inc.
  • Guardant Health

Access Press Release of Personalized Medicine Biomarkers Market @ https://www.grandviewresearch.com/press-release/global-personalized-medicine-biomarkers-market

 

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