Predisposition Biomarkers Market to See 13.2% Annual Growth Through 2024

Industry Boosted by R&D Activity

November 11, 2019

WELLESLEY, Mass., Nov. 11, 2019–New developments in the field and a continued increase in R&D activity are factors which drive growth of the global predisposition biomarkers market, according to a report by BCC Research, “Predisposition Biomarkers: Technologies and Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 13.2% through 2024, when it could be worth $2.7 billion.

Major players in the market include: Qiagen N.V. (QGEN), Thermo Fisher Scientific (TMO), Myriad Genetics Inc. (MYGN) and Bio-Rad Laboratories (BIO).

Research Highlights

  • Neurological diseases will be the fastest-growing segment in the predisposition biomarkers market. Worth $185 million in 2018, the market should reach a value of $398 million in 2024, growing at a CAGR of 14.3%.
  • The cancer segment was worth $779 million in 2018 and is expected to reach $1.6 billion in 2024, at a CAGR of 13.5%.
  • The North American market is expected to reach more than $1.2 billion in 2024 from $598 million in 2018 at a CAGR of 13.4%

Read the full report here:

“The incidence and prevalence rates of cancer are on rise due to the changing lifestyle of the global population,” writes analyst Anuj Pathak. “As per the WHO, in 2018, around 18.1 million new cases of cancer were registered globally, and it is the second-leading cause of mortality with around 9.6 million mortalities across the globe. Thus, the demand for an advanced treatment option is growing, which may provide significant growth to personalized treatment options for patients.

Growth in Asia Pacific

Asia-Pacific is projected to experience the highest growth in the global predisposition biomarker market during the forecast period, the report adds. There is a significant growth in healthcare infrastructure in emerging economies of the region, such as China, which in turn is considerably propelling the development of indigenous medicinal services for the continuously growing populace. China holds around 50% of the Asia-Pacific market, which is expected to reach $256 million in 2025. Significant investment in China in life science research is spurring the development and adoption of predisposition biomarkers for personalized medicine.

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Predisposition Biomarkers: Technologies and Global Markets( BIO194A )
Publish Date: Oct 2019    

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