blood based biomarker market

The growing cancer diagnostics segment of the global blood based biomarker market is estimated to be valued at US$ 18.8 billion in 2022

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Market Overview:

The global blood based biomarker market is estimated to be valued at US$ 18.8 billion in 2022 and is expected to exhibit a CAGR of 12.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Blood based biomarkers are proteins or substances in the blood that are indicators of normal or abnormal biological or pathogenic processes. They help identify certain conditions early which helps improve diagnosis and prognosis. The market is driven by rising prevalence of chronic diseases such as cancer that requires early diagnosis and treatment monitoring.

Market key trends:

The demand for blood based biomarkers is rising primarily due to increasing research activities for development of novel biomarkers. For instance, according to study published in Biomarker Insights in February 2022, novel blood based biomarkers are being identified and validated for early detection of lung cancer. Researchers from several universities in US identified a 3-plasma protein signature that can detect early stage lung cancer with 89% sensitivity and 92% specificity. Similarly, research is ongoing for blood based biomarkers for detection of other cancers like breast, colon and prostate. Furthermore, increasing adoption of personalized medicine is also driving the need for biomarkers to select optimal treatments based on individual patient profiles. Biomarkers help deliver personalized healthcare by detecting patients’ response to therapies and tailoring treatment approaches accordingly.
Here is the report with the requested sections:

Market key trends:

The blood based biomarker market has seen increasing emphasis on liquid biopsies as a non-invasive alternative to surgical biopsies. Liquid biopsies analyze blood samples to detect molecular biomarkers indicative of cancer and other diseases. They allow for real-time monitoring of treatment response and have potential for early detection. Additionally, minimally invasive techniques like microsampling are gaining traction, making it possible to obtain samples from just few drops of blood as opposed to traditional blood draws. This improves compliance for longitudinal monitoring.

SWOT Analysis

Strengths: Non-invasive sample collection; Allows real-time disease monitoring; Potential for early detection
Weaknesses: Accuracy can vary depending on cancer type and stage; Requires very sensitive techniques for detection of rare biomarkers
Opportunities: Growing adoption in clinical trials and precision medicine; Combined with genetics can improve stratification
Threats: Presence of biomarkers not necessarily indicative of active disease; High costs of development can be barrier for smaller players

Key Takeaways

The Global Blood Based Biomarker Market Size is expected to witness high growth, exhibiting CAGR of 12.8% over the forecast period, due to increasing prevalence of cancer and other chronic diseases. The market was valued at US$ 18.8 billion in 2022.

Regional analysis:
The US and Europe currently dominate the market due to presence of major players and higher acceptance of liquid biopsies. However, Asia Pacific is expected to grow at the fastest pace with countries like China and India experiencing rise in healthcare expenditures as well as cancer incidence.

Key players:
Key players operating in the blood based biomarker market are Diadem srl., Proteomedix, Cleveland Diagnostics, F. Hoffmann-La Roche Ltd, GENFIT, Nutech Cancer Biomarkers India Pvt Ltd, SysmOex Corporation, Minomic, Creative Diagnostics, Eisai Co., Ltd., and C2N Diagnostics. Major players are focusing on developing multi-analyte biomarker panels to improve diagnostic accuracy. They are also investing in partnership strategies to expand market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it