The global market for pulmonary fibrosis biomarkers market is on a steady growth trajectory, with sales anticipated to accelerate at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2034. Valued at USD 4,149.0 million in 2023, the market is projected to rise to USD 4,353.0 million by 2024 and further expand to an impressive USD 6,538.4 million by 2034.
Pulmonary fibrosis, a debilitating lung disease, necessitates precise and early diagnosis for effective management. Biomarkers play a pivotal role in diagnosing and monitoring this condition, leading to increased demand for advanced biomarker solutions. The market is experiencing robust growth due to continuous advancements in biomarker technology, the integration of bioinformatics tools, and the development of high-throughput screening techniques.
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The market for pulmonary fibrosis biomarkers is expected to rise, which highlights how the field of pulmonary fibrosis research and clinical practice is changing. Dependable biomarkers will be in greater demand as the prevalence of pulmonary fibrosis rises, driven by factors including aging populations and environmental exposures.
Pulmonary fibrosis biomarkers are crucial for monitoring therapy response and disease activity because they enable clinicians to assess the effectiveness of medications, modify course, and monitor the disease over time. Maintaining patient care and evaluating the efficacy of treatment need long-term monitoring.
Key Takeaways:
- Accelerated Growth: Sales of pulmonary fibrosis biomarkers are projected to accelerate at a CAGR of 4.4% from 2024 to 2034, indicating robust market expansion.
- Market Projection: The market is expected to increase from US$ 4,353.0 million in 2024 to US$ 6,538.4 million by 2034, reflecting growing demand and advancements in biomarker technologies.
- Critical Role: Pulmonary fibrosis biomarkers play a vital role in the diagnosis, prognosis, and treatment monitoring of pulmonary fibrosis, contributing to improved patient outcomes and quality of life.
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Competitive Landscape:
Key pulmonary fibrosis biomarker manufacturers significantly shape the sector’s competitive landscape. Known for its dedication to innovation, Biogen welcomes Veracyte, which is one of the significant pulmonary fibrosis biomarker providers, emphasizing cutting-edge diagnostic solutions.
Galapagos NV offers its advantages to the market, while Genentech, a Roche company, adds its pharmaceutical knowledge. Biocartis and Myriad Genetics are essential in pulmonary fibrosis biomarkers since they offer specific solutions.
These key pulmonary fibrosis biomarker vendors work together to enhance research and development, which supports the market’s general expansion and development for pulmonary fibrosis biomarkers. Their combined efforts highlight the pulmonary fibrosis biomarker industry’s dynamic nature as it continues to tackle the difficulties related to pulmonary fibrosis.
Latest Advancements:
- To provide Oklahomans with the newest diagnostic and therapeutic equipment, O.U. Health, a comprehensive academic health system, and Siemens Healthineers, a leader in medical technology, announced a strategic 10-year value partnership in December 2023.
- Thermo Fisher Scientific and AstraZeneca collaborated in January 2023 to create a companion diagnostic test for Tagrisso based on solid tissue and blood. With its global presence, Thermo Fisher Scientific can service a wide range of clients and take advantage of expansion prospects worldwide.
- A deal to buy all of the outstanding shares of Curiosity Diagnostics from Scope Fluidics, S.A., was announced by Bio-Rad Laboratories, Inc. in August 2022. The deal could be worth up to US$ 170 million, with roughly US$ 100 million going toward cash and another US$ 70 million coming from future milestone payments.
- Biogen Inc. agreed to pay a total of US$ 900 million in September 2022 to settle allegations that it gave doctors payments to persuade them to prescribe Biogen drugs, which resulted in the doctors making false claims with Medicare and Medicaid.
Key Players:
- Biogen
- Veracyte
- Genentech (Roche)
- Galapagos NV
- Biocartis
- Myriad Genetics
Key Developments in the Pulmonary Fibrosis Biomarkers Market:
- In September 2022, Biogen Inc. has consented to pay a total of US$ 900 million to resolve claim that it paid kickbacks to doctors to encourage them to prescribe Biogen medications, which led to the filing of false claims with Medicare and Medicaid.
Segmentation Analysis of the Pulmonary Fibrosis Biomarkers Market:
By Test Type:
- HRCT Scans
- X-Ray Scans
- Lung Biopsy
- Blood Tests
- Pulmonary Function Tests
By End User:
- Diagnostic Laboratories
- Academic and Research Institutes
- Hospital Laboratories
- Biopharmaceutical Companies
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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