Diagnostic Biomarkers Market size was valued at USD 55.89 billion in 2023 and is poised to cross USD 235.52 billion by the end of 2036, registering more than 11.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of diagnostic biomarkers is estimated at USD 61.12 billion.
The growth of the market can be attributed to the rising prevalence of diseases, such as, cancer, and diabetes, combined with the increasing demand for early diagnosis of such disease. Early diagnosis can significantly reduce the risk of complications and improve the chances of recovery. According to a report by the World Health Organization (WHO), cancer caused over 10 million deaths in 2020. The major type of cancers included lung, colon-rectal, liver and breast cancer, which are all treatable, if diagnosed on time. Lung cancer was the cause of 1.80 million deaths, whereas 935 000 deaths were caused by colon and rectum cancer; liver cancer was responsible for 830 000 deaths of the total deaths and breast cancer caused 685000 deaths. Moreover, rising demand for advanced treatment options and growing R&D investment for medical research, are estimated to further boost the market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.7% |
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Base Year Market Size (2023) |
USD 55.89 billion |
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Forecast Year Market Size (2036) |
USD 235.52 billion |
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Regional Scope |
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The market is segmented by product into consumable, software, and service, out of which, the consumable segment is anticipated to hold the largest share in the market during the forecast period on account of easy availability and affordable process of consumables, as compared to screening devices, and other biomarkers. On the basis of application, the market is segmented into oncology, metabolic diseases, neurological diseases, and others, out of which, the oncology segment is anticipated to attain notable growth during the forecast period, on the back of increasing cases of cancer globally, along with high mortality rate associated with cancer. As per other statistics of the WHO, cancer is the second leading cause of death globally, accounting for almost 9.6 million deaths, in the year 2018.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Application |
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End-Use |
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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 North America industry is set to hold largest revenue share by 2036, impelled by efficient healthcare sector, supported by high government investment. Moreover, technological advancement, increasing funding for R&D activities, and development of novel diagnostic tools, is estimated to boost the market growth. The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on account of increasing prevalence of cancer and other chronic diseases, along with the developing healthcare sector and economic development in the region.
Author Credits: Radhika Pawar
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