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Commercializing Biomarkers in Therapeutic & Diagnostic Applications Market Upcoming Growth and Key Player Analysis till 2032

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In 2022, the global market size for commercializing biomarkers in therapeutic and diagnostic applications amounted to USD 15.78 Billion, with a projected growth to reach USD 51.32 Billion by 2032. This represents a compound annual growth rate (CAGR) of 14% during the forecast period. The increase in market revenue is attributed to the prevalence of chronic diseases, a growing demand for personalized medication, and advancements in Proteomics and Genomics technologies.

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Competitive landscape:

·         Abbott Laboratories

·         Roche Holding AG

·         Thermo Fisher Scientific Inc.

·         Siemens Healthineers AG

·         Bio-Rad Laboratories, Inc.

·         Qiagen N.V.

·         Agilent Technologies, Inc.

·         PerkinElmer, Inc.

·         Bristol-Myers Squibb Company

·         Danaher Corporation

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Product Type Analysis:

In terms of product type, the global market for commercializing biomarkers in therapeutic and diagnostic applications is categorized into proteomics, genomics, metabolomics, and others. Notably, the proteomics segment secured the largest share of revenue in 2022. Proteomics, which involves studying the structure and function of proteins, plays a pivotal role in the development of therapeutic and diagnostic applications. Biomarkers derived from proteomics find applications in disease diagnosis, prognosis, and prediction, particularly in conditions like cancer, Alzheimer’s, and cardiovascular diseases. The proteomics-based biomarkers offer distinct advantages, including high specificity and sensitivity, making them well-suited for clinical applications. These factors contribute to the revenue growth observed in the proteomics segment.

The genomics segment is anticipated to exhibit the highest revenue Compound Annual Growth Rate (CAGR) during the forecast period. Genomics, focusing on the study of an organism’s genetic information, has led to the development of numerous biomarkers for diagnosing and treating various diseases. The increasing demand for personalized medicine and the widespread adoption of genomic testing in clinical settings are key drivers for the revenue growth in the genomics segment. Furthermore, ongoing advancements in sequencing technologies and Bioinformatics tools are expected to bolster the revenue growth of the genomics segment in the foreseeable future.

Meanwhile, the metabolomics segment is projected to experience a notably rapid revenue CAGR throughout the forecast period. Metabolomics, involving the study of metabolites in a biological system, has contributed to the development of biomarkers for diagnosing diseases such as diabetes, cancer, and cardiovascular conditions. The increasing demand for personalized medicine, coupled with the growing adoption of metabolomics in clinical settings, propels the revenue growth of the metabolomics segment. Additionally, advancements in analytical technologies and the availability of metabolomics databases are poised to further drive revenue growth in the metabolomics segment in the years to come.

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