Diagnostic Biomarkers Market Size

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.