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Diagnostic Biomarkers Market Size, Share, Trends, Industry Key Players & Forecast to 2030

Research Nester published a report titled “Diagnostic Biomarkers Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global diagnostic biomarkers market in terms of market segmentation by product, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global diagnostic biomarkers market is estimated to gain a significant CAGR over the forecast period, i.e., 2021-2030. The market is segmented on the basis of application into oncology, metabolic diseases, neurological diseases, and others, out of which, the oncology segment is projected to gain notable growth during the forecast period owing to the increasing demand for early diagnosis of cancer, as cancer is the second leading cause of death globally. According to a report by the World Health Organization (WHO), cancer was responsible for one out of every six deaths globally, accounting to over 9.6 million deaths, in 2018. The market is segmented on the basis of product into consumable, software, and service, out of which, the consumable segment is projected to hold the largest share in the market during the forecast period, owing to the affordability of consumable biomarkers over service and software biomarkers.

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The market is estimated to grow on the back of growing prevalence of chronic diseases, such as, cancer, that need proper diagnosis, at an early stage. Early diagnosis enhances the chances of survival and increase the success rate for treatment. Furthermore, unhealthy lifestyle, polluted environment, and increased exposure to carcinogens, has raised the risk of such diseases, which, is estimated to increase the demand for timely diagnosis. Moreover, government investment in medical science, rising demand for advanced diagnosis options, and growing R&D investment, are anticipated to drive the growth of the market over the coming years.

Regionally, the global diagnostic biomarkers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is anticipated to gain the largest share over the forecast period, on the back of efficient healthcare system, and high government investment, and per capita healthcare expenditure in the region. The market in the Asia Pacific is estimated to experience notable growth owing to the improving healthcare sector and increasing patient pool for various diseases, backed by the economic growth in the region.

Demand for Timely Diagnosis of Cancer to boost the Market Growth

According to another report of the WHO, cancer caused over 10 million deaths in 2020, out of which lung cancer was the cause of 1.80 million deaths, 935 000 deaths were caused by colon and rectum cancer, liver cancer was responsible for 830 000 deaths and breast cancer lead to 685000 deaths. All these cancers are treatable and can be managed through early and proper diagnosis.

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Various kind of cancer can be avoided or cured through diagnosis at the right time, which is increasing the demand for diagnostic biomarkers, which, in turn, is estimated to boost the market growth.

However, high cost of diagnostic biomarkers, especially software biomarkers, is expected to operate as key restraint to the growth of the market over the forecast period. This report also provides the existing competitive scenario of some of the key players of the global diagnostic biomarkers market, which includes company profiling of Siemens Healthcare GmbH (ETR: SHL), PerkinElmer Inc. (NYSE: PKI), Biomarker Technologies, Inc., Almac Group Limited, Myriad Genetics, Inc. (NASDAQ: MYGN), F. Hoffmann-La Roche Ltd (SWX: RO), Epigenomics AG (FRA: ECX), Thermo Fisher Scientific Inc. (NYSE: TMO), Bio-Rad Laboratories, Inc. (NYSE: BIO), and QIAGEN GmbH (NYSE: QGEN).

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