Global Genomic Biomarker Market - 2022-2029

Global Genomic Biomarker Market - 2022-2029
Market Overview

Genomic Biomarker Market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 15% during the forecast period (2022-2029).

Genomic biomarkers are signs that assess for clinical diagnosis based on gene expression, gene mutation, gene regulation, and other gene features. Neurological, oncological, and cardiovascular illnesses can all be detected using genomic biomarkers. Genomic biomarkers aid in the early diagnosis of disease, tracking disease progression and assessing the biological response to treatment or therapy. Genomic biomarkers can be utilized as a diagnostic indicator on their own or in conjunction with other biomarkers such as protein biomarkers. mRNA, miRNA, cell-free DNA, long coding RNA, and other genomic biomarkers are used in clinical diagnosis.

Market Dynamics

The growing investment by government authorities in the healthcare industry is expected to drive market growth.

The Centers for Medicare & Medicaid Services (CMS) estimates that national health spending in the United States increased at an average rate of 5.5 percent per year from 2018 to 2027 and is projected to reach around USD 6.0 trillion by that time. Moreover, in May 2020, Qiagen, a German company that develops molecular diagnostics technology, announced the introduction of cutting-edge technologies for genomic analysis in various cancer kinds. The cutting-edge QIAseq pan-cancer multimodal panel with just one sample input can discover and enrich more than 600 DNA and RNA biomarkers for evaluating tumor mutational load and microsatellite instability status. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

High costs of the genomic biomarkers, stringent government restrictions, and diagnostic method based solely on genetic biomarkers is less reliable. These are some factors the market is expected to get hampered in the forecast period.

Industry Analysis

The genomic biomarker market provides in-depth analysis of the market based on various industry factors such as supply chain analysis, pricing analysis etc.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. The structural characteristics and entrance mechanism of SARS-CoV-2 are clarified due to the shared characteristics of the coronavirus family. Rapid mutagenesis, on the other hand, causes the formation of novel strains that may have various rates of reproduction or infectiousness and may affect the nature and severity of the illness. The intensity and results of COVID-19 and the susceptibility to infection may all be influenced by host-related factors. The impact of spike protein mutations on the strain's ability to infect cells and attach to the ACE2 receptor can be predicted using bioinformatics.

Additionally, SARS-CoV-2 may target several transcription factors and tumor suppressor genes, impacting the expression of many host genes and cell signaling. By using endogenous miRNA and its viral RNA, the virus may also impede RNA expression in host cells. It is revealed that certain human miRNA may associate with various coding and non-coding regions of viral RNA to produce duplexes. Polymorphisms may also influence the prognosis and course of a disease in human genes involved in viral entry and replication, as well as in molecular damage response and inflammatory pathways. Proteins encoded by these polymorphic genes are highly related to the regulation of the defense response, according to a gene ontology analysis. Genetic and epigenetic biomarkers connected to the virus and host may therefore aid in predicting the progression of the disease and the effectiveness of treatment.

In contrast, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of economic activities.

Segment Analysis

Predictive Biomarkers segment is expected to hold the largest market share in genomic biomarker market

The predictive biomarkers segment is expected to dominate in 2021. The segment benefits because predictive biomarkers are baseline or pretreatment data that reveal whether patients are more or least likely to benefit from a certain treatment. A predictive biomarker is frequently chosen as a companion predictive biomarker in developing a specific therapeutic medication. As a typical oncology example, a biomarker that detects overexpression of the growth factor protein Her-2, which transmits growth signals to breast cancer cells, maybe a predictive biomarker for the administration of trastuzumab (Herceptin). This drug inhibits the effects of Her-2 on breast cancer patients. Therefore, it has increased the demand for predictive biomarkers. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global genomic biomarker market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of cancer and cardiovascular disease, advancements in the genomic biomarker, increasing adoption of genomic biomarkers in the early diagnosis of diseases, product launches by the key market players, and regulatory approvals in the region are some of the factors the market is expected to boost in the forecast period. For instance, according to the American Cancer Society, In 2020, an estimated 1.8 million new cancer cases and 606,520 cancer deaths in the United States will be diagnosed. In contrast, in 2021, an estimated 1.9 million new cancer cases will be diagnosed and 608,570 cancer deaths in the United States. Therefore, it has increased the adoption of genomic biomarkers in the early diagnosis of diseases.

Moreover, Clinical genomics delivery in everyday healthcare has been completed under Color Genomics' US program, the company announced in January 2020 in collaboration with NorthShore University HealthSystem. Additionally, the business supported Sanford's Imagenetics genomes program, which will improve clinical judgment. This project is also to blame for the region's widespread use of genetic biomarkers. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Competitive Landscape

Major key players in the genomic biomarker market are Thermo Fisher Scientific,Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., QIAGEN, Eurofins Scientific, Exact Sciences, Sema4, Creative Diagnostics, Centogene N.V., Quanterix.

Bio-Rad Laboratories, Inc.:

Overview:

Bio-Rad Laboratories, Inc. is an American company that continues to produce innovative and useful products in the healthcare industry that assist life science researchers in accelerating the discovery process, and medical diagnostic labs obtain faster results. Bio-Rad’s life science products include instruments, software, consumables, reagents, and content for cell biology, gene expression, protein purification, protein quantitation, drug discovery and manufacture, food safety, and science education. These products are based on technologies to separate, purify, identify, analyze, and amplify biological materials such as antibodies, proteins, nucleic acids, cells, and bacteria. Moreover, Bio-Rad’s diagnostic products and systems use various technologies and provide clinical information in the blood transfusion, diabetes monitoring, autoimmune, and infectious disease testing markets. These products support diagnosing, monitoring, and treating diseases and other medical conditions.

Product Portfolio:

CFX Real-Time PCR Detection System: Powerful and flexible instruments with 2–5 color multiplexing to deliver sensitive, reliable detection of both single and multiplex real-time PCR reactions. High-throughput CFX Automation System can screen up to 84 plates in 24 hours.

The global genomic biomarker market report would provide an access to an approx. 45+market data table, 40+figures and 200pages.