The global biomarkers market Growth Accelerated by Increased Diagnostic Applications

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Biomarkers are indicators that help to detect specific diseases or medical conditions such as cancer, heart disease and neurological disorders. Biomarkers act as strong diagnostic tools by detecting a biological state before actual clinical signs appear in the patient. Their ability to detect diseases at an early stage increases patients' chances of full recovery and cure.

The global biomarkers market is estimated to be valued at US$ 17.97 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased usage of biomarkers in disease diagnosis has been a key trend driving the growth of this market. Biomarkers help clinicians detect diseases like cancer at an early stage when the chances of full recovery are higher. For example, Cancer Antigen-125 (CA-125) is used to detect ovarian cancer, prostate-specific antigen (PSA) for prostate cancer and carcinoembryonic antigen (CEA) for colorectal, breast and lung cancers. Early detection allows doctors to design and start treatment promptly, helping improve clinical outcomes. Researchers are also working on identifying new biomarkers that can detect diseases even before structural changes in organs occur. This will allow predicting individuals at high risk of developing diseases and help prevent illnesses, thereby further accelerating the demand for biomarkers.

Segment Analysis
The global biomarkers market size is dominated by protein biomarkers sub segment that accounts for more than 45% share of the total market. Protein biomarkers are extensively employed in various disease diagnosis, staging, prognosis, and personalized medicine for the treatment of diseases such as cancer, neurological disorders, and cardiac disorders. The segment is expected to retain its dominance over the forecast period owing to the increasing adoption of protein biomarkers for various diagnostic applications and rising usage of personalized medicine approach for tailored therapeutics.

Key Takeaways
The global biomarkers market is expected to witness high growth. The global biomarkers market is estimated to be valued at US$ 17.97 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

Regional analysis related content comprises North America currently holds the largest share in the global biomarkers market owing to rising prevalence of chronic diseases, increasing healthcare expenditure, and presence of advanced healthcare facilities in the region. The Asia Pacific region is expected to be the fastest growing market for biomarkers during the forecast period attributed to rising geriatric population, increasing prevalence of chronic and lifestyle diseases, growing healthcare expenditure, and improving healthcare infrastructure in emerging economies.

Key players related content comprises Key players operating in the biomakers market are Steris PLC, West Pharmaceutical Services Inc., Boston Analytical, Intertek Pharmaceutical Services, Pace Analytical Services, Labcorp (Toxikon Inc.), SGS SA, Eurofins Scientific, and Laboratory Testing Inc., among others.

Get more insights on this topic: https://www.newsstatix.com/biomarkers-market-share-and-opportunity-analysis/

 

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