United States Biomarkers Advanced Technologies Market Overview
United States Biomarkers Advanced Technologies Market Size was valued at USD 19.5 Billion in 2022. The United States Biomarkers Advanced Technologies market industry is projected to grow from USD 22 Billion in 2023 to USD 58.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.00% during the forecast period (2023 - 2032). Increasing acceptance of precision medicine initiatives and a growing demand for non-invasive or minimally invasive testing methods are the main market drivers anticipated to propel the United States Biomarkers Advanced Technologies market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
United States Biomarkers Advanced Technologies Market Trends
- Increasing acceptance of precision medicine initiatives is driving the market growth
The market CAGR for United States biomarkers advanced technologiesis anticipated to be driven by rising investments in biomarker research & development, strategic alliances, and new product introductions. Notable partnerships, like the one between Personal is, Inc. and Merck KGaA, are centered on using Personal is' cutting-edge cancer immunogenomics platform, ImmunoID NeXT, to find novel biomarkers linked to cancer drug response and resistance mechanisms. Regulatory procedures are often stringent when integrating biomarker-based diagnostics into clinical practice in United States. The particular method will vary depending on whether the biomarker is to be used for prognostic, predictive, or diagnostic purposes. The United States' Food and Drug Administration (FDA) is in charge of regulating the approval process, however other nations have their own regulatory bodies.
Furthermore, customizing treatment plans according to a patient's unique genetic composition and abnormal characteristics is made possible in large part by biomarkers. The ongoing advancements in proteomics and genomes research will soon lead to the widespread discovery of distinct biomarkers for targeted healing processes. Enhancing treatment efficacy is optimal, but it also lessens side effects, which raises the need for biomarker-pushed diagnostics in United States. The field of medical research is changing rapidly due to the incorporation of biomarkers into clinical trials. Biomarkers provide valuable tools for the development of new medications by providing insights into the biology of diseases, the efficacy of treatments, and the classification of patients in United States. Biomarkers are being used by pharmaceutical companies more and more to speed up the development of new drugs. The product, As per the March 2022 report from the World Health Organization, 17.9 million deaths globally are attributed to cardiovascular illnesses annually. This amounts to 35% of all deaths worldwide. Moreover, heart attacks and strokes are the cause of 85% of cardiovascular disease-related fatalities. As per a July 2020 Cureus Journal of Medical Science article, Ischemic heart disease (IHD) is one of the primary causes of death globally.
United States Biomarkers Advanced Technologies Market Segment Insights
- United States Biomarkers Advanced Technologies Application Insights
The United States Biomarkers Advanced Technologies market segmentation, based on application includes Risk Assessment, Development of Molecular Diagnostics, Disease Diagnosis, Drug Discovery and Development, Drug Formulation, Forensic Application, and Others (DNA fingerprinting and others). The development of molecular diagnostics segment dominated the market mostly. Because of its benefits in early-stage disease detection—especially for COVID-19—rapid growth is anticipated. This demand is also fueled by rising disposable income and hospital capacity growth.
- United States Biomarkers Advanced Technologies Indication Insights
The United States Biomarkers Advanced Technologies market segmentation, based on Indication, includes Cancer, Infectious Diseases, Immune Disorders, Neurological Disorders, Cardiovascular Disorders, and Other disease indications. The cancer segment generated the most income. Within the indication type, the cancer biomarkers industry is flourishing. Large producers in the industry are expected to contribute to a strong product pipeline that will further strengthen this industry. The need for biomarkers is also being driven by an increase in cancer diagnoses and an aging population.
- United States Biomarkers Advanced Technologies End User Insights
The United States Biomarkers Advanced Technologies market segmentation, based on End User, includes Pharmaceutical and Biotechnology Companies, Diagnostics and Research Laboratories, Hospitals, Specialty Clinics, and Others. The pharmaceutical and Biotechnology Companies generated the most income. Significant financial investments and assistance from the public and corporate sectors are advancing the development of biomarkers. For instance, Empire Genomics, LLC offers sizeable funding to support scientists and physicians in developing and confirming new biomarkers in oncology.
Figure 1: United States Biomarkers Advanced Technologies Market, by End user, 2022 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
United States Biomarkers Advanced Technologies Country Insights
Major health concerns in the United States are chronic diseases, which include cancer, cardiovascular disease, diabetes, and neurological disorders. Advanced biomarker technologies are in high demand because biomarkers are essential for the early diagnosis, monitoring, and detection of various illnesses. The United States government, pharmaceutical firms, and individual investors are making significant investments in biomarker technology research and development. The development, validation, and commercialization of biomarkers for use in drug research, patient monitoring, and illness diagnosis are all supported by this funding in the united states. Patients and healthcare professionals are increasingly favoring non-invasive or minimally invasive diagnostic methods. Less intrusive alternatives to conventional diagnostic techniques are provided by biomarker-based diagnostic instruments, which enhance patient compliance and comfort.
United States Biomarkers Advanced Technologies Key Market Players & Competitive Insights
Leading market players are making significant investments in R&D to broaden their product offerings, which will encourage further growth in the United States Biomarkers Advanced Technologies sector. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including releases of new products, contracts, acquisitions and mergers, increased investments, and cooperation with other enterprises. To grow and endure in a market that is becoming more and more competitive, the United States Biomarkers Advanced Technologies industry must provide reasonably priced goods.
Major players in the United States Biomarkers Advanced Technologies market are making investments in R&D operations in an effort to boost market demand, including Abbott, Qiagen, Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare Private Limited, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Johnson & Johnson Services, Inc.
Key Companies in the United States Biomarkers Advanced Technologies market include
- Abbott
- Qiagen
- Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific, Inc.
- Siemens Healthcare Private Limited
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- Johnson & Johnson Services, Inc.
- Epigenomics AG
- Bruker
- Quest Diagnostics Incorporated
- General Electric Company
- Becton, Dickinson, and Company
- Cisbio Bioassays
United States Biomarkers Advanced Technologies Industry Developments
February 2022: In order to determine the most effective blood tests for measuring a protein that is crucial for the early detection of rare neurodegenerative diseases, the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium launched a new project titled "Neurofilament as a Fluid Biomarker of Neurodegeneration in Familial Frontotemporal Degeneration (FTD)".
February 2022: The OncoDEEP kit was introduced by the genomic and therapeutic business OncoDNA. With the use of this kit, labs equipped with NGS capabilities may conduct thorough biomarker testing, give reliable data analysis, and help oncologists treat cancer patients in the most efficient and customized ways possible.
United States Biomarkers Advanced Technologies Market Segmentation
United States Biomarkers Advanced Technologies Application Outlook
- Risk Assessment
- Development of Molecular Diagnostics
- Disease Diagnosis
- Drug discovery and development
- Drug Formulation
- Forensic Application
- Others (DNA fingerprinting and others)
United States Biomarkers Advanced Technologies Indication Outlook
- Cancer
- Infectious Diseases
- Immune Disorders
- Neurological Disorders
- Cardiovascular Disorders
- Other disease indications
United States Biomarkers Advanced Technologies End User Outlook
- Pharmaceutical and biotechnology companies
- Diagnostics and Research Laboratories
- Hospitals
- Specialty Clinics
- Others
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Report Attribute/Metric
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Details
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Market Size 2022
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USD 19.5 Billion
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Market Size 2023
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USD 22 Billion
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Market Size 2032
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USD 58.6 Billion
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Compound Annual Growth Rate (CAGR)
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13.00% (2023-2032)
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Base Year
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2022
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Market Forecast Period
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2023-2032
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Historical Data
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2018-2022
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Market Forecast Units
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Value (USD Billion)
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Report Coverage
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Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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Application, Indication, End User
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Countries Covered
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United States
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Key Companies Profiled
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Abbott, Qiagen, Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare Private Limited, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Johnson & Johnson Services, Inc.
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Key Market Opportunities
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·        Increasing acceptance of precision medicine initiatives
·        Growing demand for non-invasive or minimally invasive testing methods
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Key Market Dynamics
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·        Expanding inclination for minimally invasive or non-invasive diagnostic methods
·        Rising use of precision medicine initiatives
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Frequently Asked Questions (FAQ) :
The size of the United States Biomarkers Advanced Technologies market was estimated to be USD 19.5 billion in 2022.
It is anticipated that the market would expand at a compound annual growth rate (CAGR) of 13.00% from 2023 to 2032.
The key players in the market are Abbott, Qiagen, Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare Private Limited, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., and Johnson & Johnson Services, Inc.
The Development of Molecular Diagnostics category dominated the market in 2022.
Cancer had the largest share of the market.
