The global clinical biomarker testing market size was US$ 12.1 billion in 2021. The global clinical biomarker testing market is forecast to grow to US$ 40.56 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2022 to 2030.

Factors influencing the Market

Clinical biomarker testing, also known as genetic or molecular testing, is the procedure to discover the molecular signs of health. It helps healthcare professionals to describe and strengthen the quality of patient care. Thus, the significant potential of clinical biomarker testing will drive the market forward throughout the forecast period.

The growing prevalence of chronic diseases, especially cancer, will boost the growth of the global clinical biomarker testing market during the study period. Clinical biomarker testing is widely used to perform tumor testing. Thus, it will contribute to the growth of the global clinical biomarker testing market.

The growing advancements in molecular techniques and growing research and funding activities will contribute to the growth of the global clinical biomarker testing market. In addition, the rising demand for ultra-high-throughput sequencing and next-generation sequencing technologies will benefit the global clinical biomarker testing market during the forecast period.

The shortage of efficient testing centers may limit the growth of the global clinical biomarker testing market.

The growing healthcare expenditure and improving healthcare infrastructure will escalate the clinical biomarker testing market growth in the coming years.

COVID-19 impact Analysis

The wake of the COVID-19 surged the demand for clinical biomarker testing. Due to the pandemic, the demand for screen for tests for a large number of patients surged. Thus, this escalated the demand for clinical biomarker testing. In addition, governments also raised the healthcare expenditure in order to help the citizens deal with the situation. As a result, it benefitted the global clinical biomarker testing industry.

Regional Analysis

North America is forecast to emerge as the largest clinical biomarker testing market due to the high healthcare expenditure and efficient infrastructure. In addition, the rising prevalence of cancer and increasing spending on healthcare will contribute to the growth of the clinical biomarker testing market. In addition, the region is home to some of the prominent industry players, such as GE Healthcare, Medtronics plc., etc. Thus, it will significantly escalate the industry growth in terms of revenue.

Competitors in the Market

Novartis
GlaxoSmithKline
F. Hoffmann-La Roche AG
Pfizer Inc.
GE Healthcare
Medtronics plc
LECO Corporation
Metabolon Inc.
Biocrates LifeSciences AG
Danaher Corporation
Agilent Technologies
Thermo Fisher Scientific Co.
Shimadzu Corporation
Bio-Rad Laboratories
Quest Diagnostics
Other Prominent Players
Market Segmentation

The global clinical biomarker testing market segmentation focuses on Technology, Application, End-User, and Region.

The clinical biomarker testing market has been segmented based on technology

Ultra-high Throughput Sequencing
Next-generation Sequencing
Others
The clinical biomarker testing market has been segmented based on application

Cancer
Cardiovascular
Nervous system
Infectious diseases
Others
The clinical biomarker testing market has been segmented based on the end-user

Pharma & Biotech Companies
Diagnostic tool companies
Clinical Laboratories
Healthcare IT
The clinical biomarker testing market has been segmented based on the region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America