Predisposition Biomarkers Market size is expected to register remarkable growth rate during the forecast period i.e., between 2024-2036.
The growth of the market can be attributed to the various advantages provided by biomarkers in reducing and monitoring the risks of several acute and chronic disease, along with aid in diagnosis and treatment. The use of biomarkers, significantly reduces the healthcare expenditure, as it monitors the health beforehand, which is estimated to boost its demand throughout the forecast period. Moreover, the rising prevalence of diseases, such as, cancer, and diabetes along with increasing government initiatives to reduce the cases of such diseases, is anticipated to promote the market growth. According to the data by the WHO, over 422 million people around the world suffer from diabetes, and it causes about 1.6 million deaths every year. Furthermore, introduction of novel and advanced technologies, such as, digital biomarkers, and escalating adoption of personalized medicines is projected to boost the market growth.
Growth Drivers
Challenges
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2024–2036 |
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The market is segmented by application into screening, susceptibility analysis, diagnostic, prognostic, monitoring, and others, out of which, the diagnostic segment is anticipated to hold a notable share in the market during the forecast period on account of increasing incidences of late diagnosis of chronic diseases, which makes their treatment more complicated and riskier. Early diagnosis can eliminate such critical cases, and improve the success rate of the treatment.
Our in-depth analysis of the global market includes the following segments:
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Regionally, the global predisposition biomarkers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is poised to hold largest revenue share by 2036, owing to undergoing advanced research and development in the healthcare sector along with innovative clinical experiments, and development of new diagnostic tools. The market in the Asia Pacific is estimated to witness notable growth accounting to the increasing geriatric population, along with increasing cases of various chronic diseases, such as, cancer, hypertension, and diabetes. Moreover, development in the healthcare sector, backed by government initiatives and increasing investment, is anticipated to boost the market growth.
· March 02, 2021: Myriad Genetics to join hands with Intermountain Precision Genomics to produce germline genetic testing services.
Author Credits: Radhika Pawar
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