February 12, 2021
According to the research report titled ‘Global Clinical Biomarker Testing Market Analysis, 2020’, available with Market Study Report LLC, global clinical biomarker testing market size is projected to expand at a decent CAGR during 2020-2025.
As per the report findings, rising burden of chronic diseases like cancer and CVDs owing to increasing cases of obesity and booming elderly population are the key factors stimulating global clinical biomarker testing market growth. Moreover, advancement of bioinformatics and emerging number of cancer therapies are adding momentum to the industry expansion.
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Further, advancement of diagnosing techniques like metabolomics, proteomics, genomics, and transcriptomic is expected to propel the business growth over the coming years. Increasing government funding for treatment of various diseases and rising cognizance among healthcare professionals pertaining to early diagnosing procedures are other factors augmenting worldwide clinical biomarker testing industry size.
The latest business intelligence report of this domain provides a complete analysis of this business sphere for 2020-2025, by evaluating the past data and present trends. Besides, it provides information regarding segmental shares, while highlighting the growth driving forces, opportunities, and challenges shaping the industry dynamics.
Based on type, global clinical biomarker testing market is split into immunological disease, neurology, cardiology, infectious disease, metabolism, and cancer. Of these, cancer immunotherapy segment is observing steady growth owing to growing pervasiveness of breast cancer, stomach cancer, pancreas cancer, prostate cancer, and collateral cancer across the globe.
Elaborating on application spectrum, the industry is bifurcated into functional genomics, personalized medicine, toxicology testing, nutrigenomics, and drug discovery. Moving to end user scope, the market is divided into research institutes, clinical laboratories, healthcare IT/ big data companies, diagnostic tool companies, and pharma & biotech companies.
Speaking of the geographical scope, Europe and North America led global clinical biomarker testing market growth in 2019 and are poised to accrue massive profits through 2025, creditable to soaring demand for personalized medicines in these regions.
On the other hand, Asia Pacific clinical biomarker testing industry is anticipated to grow substantially over the assessment period, on account of increasing establishment of clinical laboratories in economies like China and India.
Major companies impacting global clinical biomarker testing market trends are AbbVie, Inc., Danaher Corp., Thermo Fisher Scientific Inc., Merck and Co. Inc., Hologic, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories Inc., Becton, Dickinson and Company, Adaptive Biotechnologies Corp., and Abbott Laboratories.