Biomarkers, referred to as signature molecules or molecular markers, are utilized to assess the body's response to treatments for various diseases and conditions. They also aid in the evaluation of organ functions and other health conditions. In imaging technology, biomarkers play a crucial role by enhancing the clarity of imaging for oncology tumors and other medical issues. The leveraging biomarkers, healthcare professionals can gain valuable insights into treatment effectiveness and overall health status through improved imaging techniques.
According to Data Bridge Market Research, the Rare Biomarkers Market accounted for USD 55.59 billion in 2022 and is expected to reach USD 154.19 billion by 2030. The market is expected to grow with a CAGR of 13.6% in the forecast period of 2023 to 2030
“The increasing number of patients with a rising population boosts the market’s growth”
The rare biomarkers market is witnessing growth due to the increasing number of patients, driven by a rising population. As the global population expands, the incidence of diseases, including cancer, is also increasing. This growing patient pool creates a higher demand for effective diagnostic tools and technologies, such as rare biomarkers, which can aid in the early detection and personalized treatment of diseases. Consequently, the rare biomarkers market is experiencing significant growth as it caters to the needs of a larger patient population.
What restraints the growth of the rare biomarkers market?
“High investment requirements restraints the market’s growth”
The growth of the rare biomarkers market is hindered by the high investment requirements associated with the research, development, and commercialization of new biomarker-based diagnostic technologies. Discovering and validating rare biomarkers require significant financial resources, sophisticated laboratory equipment, and skilled researchers. Additionally, biomarker-based diagnostics' regulatory and approval processes can be time-consuming and costly. These high investment requirements restrain the market's growth by limiting the number of companies and organizations that can enter the market and develop innovative biomarker-based diagnostic solutions.
Segmentation: Rare Biomarkers Market
The rare biomarkers market is segmented on the basis of product and end use.
- On the basis of product, the rare biomarkers market has been segmented into circulating cell free DNA, circulating tumor cells, exosomes/extracellular vesicles, circulating cell free RNA, others.
- On the basis of end use, the rare biomarkers market has been segmented into research, diagnostics.
Regional Insights: North America dominates the rare biomarkers market
North America dominates the global rare biomarkers market due to the implementation of healthcare initiatives, the prominent presence of major market players, a rise in chronic conditions, and an increasing number of research activities. These combined factors contribute to the expansion of the market, as they create a favorable environment for developing and adopting rare biomarkers in diagnostics and personalized medicine.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 rise in government initiatives aimed at promoting awareness about rare diseases, increasing research activities in the field of biomarkers, presence of untapped markets with significant potential, a large population base, and a growing demand for high-quality healthcare services. Together, these factors contribute to the expansion of the market, creating opportunities for the development and adoption of rare biomarkers in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-rare-biomarkers-market
Recent Developments
- In February 2022, Abbott Laboratories recently introduced Lingo, a consumer bio wearable designed to monitor vital body signals, enabling individuals to gain valuable insights into their overall health and make informed improvements. This innovative device eliminates the need for sporadic finger-prick tests, urine samples, and breath readings typically used by biohackers. Instead, Lingo offers a continuous data stream, providing users with real-time information to track and enhance their well-being.
- In February 2022, OncoDNA, a company specializing in genomics and prognostics, launched the OncoDEEP kit, offering a comprehensive workflow solution for laboratories equipped with Next-Generation Sequencing (NGS) capabilities. This advanced kit enables thorough biomarker testing, facilitates sophisticated data analysis, and supports oncologists in delivering personalized and highly effective cancer treatments to their patients. With the OncoDEEP kit, laboratories can efficiently analyze genomic data, aiding in the identification of optimal treatment strategies tailored to each individual's specific cancer profile.
The Prominent Key Players Operating in the Rare Biomarkers Market Include:
- F. Hoffmann-La Roche Ltd. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Abbott (U.S.)
- QIAGEN (Germany)
- PerkinElmer, Inc. (U.S.)
- Merck KGaA (Germany )
- Bio-Rad Laboratories, Inc. (U.S.)
- Enzo Biochem, Inc. (U.S.)
- Charles River Laboratories International, Inc. (U.S.)
- Eurofins Scientific (Luxembourg)
- Agilent Technologies, Inc. (U.S.)
- Bruker (U.S.)
- Siemens (U.S.)
- Epigenomics AG (Germany)
- General Electric (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of rare biomarkers market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Rare Biomarkers Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
