Genomic Biomarkers Market Set to Reach $16.51 Billion by 2029 with 17.3% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Genomic Biomarkers Market?
Recently, the genomic biomarkers market has witnessed swift growth. The market size is projected to escalate from $7.42 billion in 2024 to $8.72 billion in 2025, experiencing a compound annual growth rate (CAGR) of 17.4%. The expansion during the historic period can be credited to the increased focus on diverse genetic testing activities, a surge in incidences of chronic illnesses, heightened interest in precision medicine programs, rising adoption of companion diagnostics, and an increasing patient population with neurological disorders.

In the coming years, the genomic biomarkers market is set to experience a swift expansion. It is projected to escalate to $16.51 billion by 2029 with a compound annual growth rate (CAGR) of 17.3%. This growth expected over the prediction period is due to the escalating cases of ovarian and gastric cancers, increased acceptance and awareness of genetic testing, wider use of genomic biomarkers in cancer detection and treatment, increased cancer patient population, and greater adaptation of companion diagnostics. Significant trends during the forecast period encompass next-generation sequencing (NGS), amalgamation with other omics, advancements in genomic technology, innovative products, and enhanced healthcare services.

What Are the Forces Behind the Rapid Growth of the Genomic Biomarkers Market?
The growth of the genomic biomarkers market is projected to be driven by the escalating desire for personalized medicine. Personalized medicine, or precision medicine, is a medical field that adapts healthcare solutions and treatments to each patient's unique characteristics, primarily focusing on genetic and genomic data. The growth in demand for this form of medicine can be traced back to factors such as the heightened focus on individual patient care, advancements in genetic analysis and sequencing, a patient-oriented strategy, and the utilization of Electronic Health Records (EHRs) for storing and examining patient data. Genomic biomarkers are integral to personalized medicine, as they enable healthcare providers to individualise medical treatments based on genetic makeup. This method, also named precision medicine, seeks to maximize treatment effectiveness and reduce side effects by taking into account genetic variations. As an example, in 2022, the Personalized Medicine Coalition, a professional organization from the US, reported the approval of 12 novel personalized drugs, making up around 34% of all treatments approved that year and marking a 34% increase from previous years. As a result, the rising demand for personalized medicine is fuelling the growth of the genomic biomarkers market.

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Who Are the Dominant Companies Influencing Genomic Biomarkers Market Trends?
Major companies operating in the genomic biomarkers market are Thermo Fisher Scientific Inc., Roche Diagnostics International Ltd., Illumina Inc., PerkinElmer Inc., Almac Group, Azenta Inc., Novogene Corporation, Oxford Nanopore Technologies Ltd., Celerion, Quanterix Corporation, Bio-Rad Laboratories Inc., NantHealth Inc., Centogene N.V., Sophia Genetics SA, Envisagenics, Deep Genomics, Creative Diagnostics, Macrogen Inc., Guardant Health Inc., Sema4

How Is the Genomic Biomarkers Market Evolving?
Key players within the genomic biomarkers market are concentrating on the creation of unique products such as lung reagents. These innovations aim to improve identification of genetic alterations in lung cancer, boost diagnostic precision, and enable tailored treatment methods through the use of sophisticated genomic technologies. Lung reagents are specific chemical and biological materials used in diagnostic tests, research, or lung-related medical procedures. They promote precision medicine by guiding treatment decisions based on the particular genetic makeup of the cancer. For instance, in December 2023, Biofidelity, a company from the UK known for the development of advanced genomic assays and precision diagnostics, introduced the ASPYRE-Lung reagents. These reagents aim to detect essential genetic mutations and changes in lung cancer, which are vital for directing personalised treatment plans and targeted therapies.

What Are the Different Segmentations in the Genomic Biomarkers Market?
The genomic biomarkersmarket covered in this report is segmented -

1) By Type: Predictive Biomarkers, Prognostic Biomarkers
2) By Disease Indication: Oncology, Cardiovascular Diseases, Neurological Diseases, Renal Disorders, Other Disease Indications
3) By Validation: Analytical Validation, Clinical Validation, Clinical Utility
4) By End-User: Hospitals, Diagnostic Centers, Other End User

Subsegments:
1) By Predictive Biomarkers: Drug Response Biomarkers, Companion Diagnostics Biomarkers, Pharmacodynamic Biomarkers, Predictive Genetic Markers for Disease Susceptibility
2) By Prognostic Biomarkers: Cancer Prognostic Biomarkers, Cardiovascular Disease Prognostic Biomarkers, Neurodegenerative Disease Prognostic Biomarkers, Infectious Disease Prognostic Biomarkers

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Which Region Is at the Forefront of the Genomic Biomarkers Market?
North America was the largest region in the genomic biomarkers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomic biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Genomic Biomarkers Global Market Report?

- Market Size Analysis: Analyze the Genomic Biomarkers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genomic Biomarkers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genomic Biomarkers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genomic Biomarkers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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