Global PD-L1 Biomarker Testing Market Poised for Growth at Over 9% CAGR, Reaching USD 1.58 Billion by 2033

The global PD-L1 biomarker testing market is surging, driven by the increasing demand for personalized cancer treatment and the rising burden of cancer worldwide. According to a new report, the market valued at USD 659.6 million in 2023 and is expected to reach USD 1.58 billion by 2033, reflecting a compound annual growth rate (CAGR) of 9.14%.

PD-L1 biomarker testing plays a crucial role in cancer diagnostics by identifying the presence of PD-L1 proteins, which can indicate the potential effectiveness of immunotherapy treatments. The rising focus on early-stage cancer detection and the growing adoption of immunotherapy are fueling market expansion.

Get Sample of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5897

“The alarming rise in cancer cases worldwide is prompting a paradigm shift in healthcare,” says FMI. “The increasing focus on personalized medicine and the effectiveness of PD-L1 testing in guiding treatment decisions are significant growth drivers for the PD-L1 biomarker testing market.”

Key factors propelling the PD-L1 biomarker testing market:

• Rising Cancer Prevalence: Cancer continues to be a leading cause of mortality globally. The growing incidence of cancer is necessitating advanced diagnostic tools and propelling the demand for PD-L1 biomarker testing.
• Shifting Focus Towards Personalized Medicine: The healthcare industry is witnessing a growing emphasis on personalized treatment plans tailored to a patient’s specific needs. PD-L1 testing plays a vital role in identifying patients who may benefit from immunotherapy.
• Advancements in Immunotherapy: The burgeoning field of immunotherapy offers promising treatment options for various cancers. PD-L1 testing helps determine which patients are most likely to respond positively to immunotherapy drugs.

The PD-L1 biomarker testing market presents lucrative opportunities for:

• Biopharmaceutical companies developing novel PD-L1 testing kits and companion diagnostics.
• Healthcare providers offering PD-L1 testing services and incorporating personalized treatment plans.
• Research institutions engaged in developing advanced biomarker testing technologies.

Key Takeaways:

• Based on product, PD-L1 22C3 assay kits segment is projected to account for over 53% of the market share by 2032, with sales increasing at a 10.2% CAGR over the forecast period.
• In terms of indication, the NSCLS segment held 61.9% of the total market share in 2021, and the trend is expected to continue over the assessment period.
• By end user, sales in the cancer research institutes segment accounted for 43.2% of the total market share in 2021.
• North America is slated to be the largest leading region with a value share of over 61%, spearheaded by the U.S.
• Sales in the U.K. will increase at a 10% CAGR over the assessment period.
• China will emerge as a lucrative market, with demand growing at a 10.9% CAGR over the forecast period.

Competition Landscape:

Leading players operating in the market are actively working in coherence with researchers to be able to acquire enhanced and innovative concepts to widen the therapeutic actions of the product. For instance:

• In May 2020, F. Hoffman-La Roche AG acquired Stratos Genomics to develop DNA-based sequencing for diagnostic use.
• In July 2020, Abcam plc. And Cancer Research UK partnered for the development and commercialization of novel antibodies to accelerate cancer research.

For More Report Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-5897

Key Companies Profiled:

• F. Hoffmann – La Roche Ltd.
• Agilent Technologies, Inc.
• Abcam plc, Shuwein Biotech Co. Ltd.
• NeoGenomics Laboratories, Inc.
• HalioDx, Abcam plc
• Merck, Bristol-Myers Squibb
• AstraZeneca

Key Market Segments Covered in PD – L1 Biomarker Testing Industry Research:

By Product:

• PD-L1 22C3 Assay Kit
• PD-L1 28-8 Assay Kit
• PD-L1 SP142 Assay Kit
• PD-L1 263 Assay Kit

By Indication:

• NSCLC
• Melanoma
• Renal Cell Carcinoma
• Gastrointestinal tract Malignancy
• Haematological Malignancies
• Ovarian Cancer
• Other

By End User:

• Hospitals
• Diagnostic Laboratories
• Cancer Research Institutes

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA) 

Checkout Now to Access: https://www.futuremarketinsights.com/checkout/5897

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube