PERSONALIZED MEDICINE BIOMARKERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global personalized medicine biomarkers market is estimated to be valued at USD 24.70 Bn in 2024 and is expected to reach USD 68.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031. Personalized medicine biomarkers market refers to the utilization of genetic information to plan the most suitable treatment for patients. Personalized medicine aims to design preventive or therapeutic products tailored to an individual's characteristics, including their predicted predisposition to illness. Biomarkers play an important role in personalized medicine as they help identify which patients are suitable for specific treatments. Biomarkers can be utilized to screen for diseases, identify the risk of developing a disease, predict the rate of disease progression, and assess the response to treatment. Increasing availability of genetic tests, growing prevalence of chronic diseases, rising focus on precision medicine, and technological advancements are some of the key factors expected to propel the growth of the global personalized medicine biomarkers market.

Market Dynamics:

Global personalized medicine biomarkers market growth is driven by several factors such as growing prevalence of chronic and life-threatening diseases worldwide, rising R&D initiatives by pharmaceutical companies, increasing application of biomarkers in drug discovery and development, growing focus on precision medicine, technological advancements in biomarker identification, and availability of genetic tests. However, high costs associated with biomarker-based tests and lack of reimbursement policies are expected to restrain the market growth. The market players have significant opportunities in developing economies owing to growing healthcare expenditure, rising awareness about personalized medicine, and increasing healthcare research grants. New product launches, collaborations between market players and research institutes, and geographical expansion strategies by companies are some key opportunities in the global personalized medicine biomarkers market.

Key Features of the Study:

- This report provides in-depth analysis of the global personalized medicine biomarkers market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- Key companies covered as a part of this study include F Roche Diagnostics, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Siemens Healthineers, Abbott Laboratories, Merck KGaA, Genomic Health, Inc., Myriad Genetics, Inc., Foundation Medicine, Inc., Exact Sciences Corporation, Guardant Health, Inc., and Luminex Corporation

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global personalized medicine biomarkers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global personalized medicine biomarkers market

Market Segmentation

•  Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Genetic Biomarkers
  • Protein Biomarkers
  • Metabolite Biomarkers
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Oncology
  • Neurology
  • Diabetes
  • Autoimmune Diseases
  • Cardiology
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Hospitals
  • Diagnostic Laboratories
  • Research Institutions
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Roche Diagnostics
  • Illumina, Inc.
  • Thermo Fisher Scientific Inc.
  • QIAGEN N.V.
  • Agilent Technologies, Inc.
  • Bio-Rad Laboratories, Inc.
  • Siemens Healthineers
  • Abbott Laboratories
  • Merck KGaA
  • Genomic Health, Inc.
  • Myriad Genetics, Inc.
  • Foundation Medicine, Inc.
  • Exact Sciences Corporation
  • Guardant Health, Inc.
  • Luminex Corporation