‘Biomarker Testing Services Market’ Latest Research Report provides an up-to-date analysis of the growth opportunities and trends in the market’s development up to 2032. With a focus on the Biomarker Testing Services market, this report offers a thorough examination of the factors driving market growth as well as the restraints influencing its progress. By employing both qualitative and quantitative methodologies, this report presents a comprehensive analysis of the market landscape. It equips companies with valuable insights and data to make informed decisions about their business strategies and identify potential areas for growth. “Ask for Free Sample Report”
Market Overview
The comprehensive analyses of the most recent trends, growth prospects, and market growth drivers are offered to readers of the global market research reports. The COVID-19 effects on the Biomarker Testing Services Market are also discussed in detail in the research, along with the market’s predicted compound annual growth rate (CAGR) from 2023 to 2032.
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Global Biomarker Testing Services Market is valued at approximately USD 759.6 million in 2021 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2022-2029.
Biomarker testing services give a powerful approach to measuring a biological process and act as an indicator in normal as well as pathological conditions in response to pharmacological intervention. To research human diseases, doctors have used biomarker analysis in blood or other body fluids at the DNA or protein level for many years. Clinical illnesses such as cancer, immunological responses, genetic disorders, and cardiovascular diseases are among the conditions that doctors frequently use biomarker services to identify and treat. The Biomarker Testing Services market is expanding because of factors such as increasing demand for biomarker testing for cancer detection and increasing R&D activities.
New biomarkers are being discovered because of research and development. For instance, sTNFR2 was identified as a novel biomarker for the diagnosis of acute adult T-cell leukemia/lymphoma in 2020. Similar to this, in 2018 the FDA approved the Plasmodium 18S rRNA/rDNA biomarker for the treatment of malaria. Due to these discoveries and technical improvements, the market is predicted to grow profitably during the forecast period. The successful launch of this product may provide patients with an alternative option. Furthermore, the growing demand for biomarkers in clinical studies and the growing burden of chronic and infectious diseases supporting demand for biomarker testing is creating lucrative growth in the market. However, the high cost of biomarker testing services and high capital investments and lengthy timelines for biomarker development stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Biomarker Testing Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market share owing to factors such as the rising presence of key market players, increase in laboratory diagnostic testing, and prevalence of lifestyle diseases. In 2020, the CDC projects that there may be about 37.3 million diabetes in the country, including 28.7 million cases that have been diagnosed and 8.5 million that have not. A growing geriatric and target population, an increase in the number of collaborations for biosimilar development, the geographic expansion of key players, and active participation by government and nonprofit organizations in the market space are just a few of the factors driving Asia Pacific’s expected significant growth during the forecast period.
Major market players included in this report are:
- Bio Agilytix Labs
- Eurofins Scientific
- SGS SA
- Charles River Laboratories
- Labcorp Drug Development
- Thermo Fisher Scientific Inc. (PPD, Inc.)
- ICON Plc
- IQVIA
- Syneos Health
- Intertek Group Plc
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Recent Developments in the Market:
- In April 2021, Amgen announced the launch of Biomarker AssistTM, a programme to make biomarker testing more accessible to patients with metastatic (stage IV) non-small cell lung cancer (NSCLC(. A crucial initial step in placing patients on the appropriate course of treatment is biomarker testing at the time of diagnosis. Eligible patients may receive discounts on biomarker testing through Biomarker AssistTM.
- In February 2022, oncodna introduced the launch of the oncodeep kit. a complete workflow solution is provided by the kit, permitting laboratories with ngs capabilities to perform comprehensive biomarker testing, provide powerful data analysis, and support oncologists in the most effective and personalized treatments for their cancer patients. For the quick analysis and reporting of a patient’s tumor molecular profile, the offer will come in combination with oncodna’s data analysis and clinical interpretation tools.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Product:
Biomarker Assay Development
Flow Cytometry
Others
By End User:
Pharmaceutical and biotechnology companies
Research Institutes
CRO
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Biomarker Testing Services market, including:
- What can be expected for the Biomarker Testing Services market in the next decade?
- What are the primary drivers of growth in the global Biomarker Testing Services market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Biomarker Testing Services market vary based on the size of the end market?
- What is the breakdown of Biomarker Testing Services by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Biomarker Testing Services market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Biomarker Testing Services Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Biomarker Testing Services Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Biomarker Testing Services Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Biomarker Testing Services Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Biomarker Testing Services Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Biomarker Testing Services Market.
Our Biomarker Testing Services Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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