The PD-L1 biomarker testing market is projected to be valued US$ 597.9 million by the end of 2022. From 2023 to 2033, the market is projected to grow at a compound annual growth rate (CAGR) of 9.14%, with a market value of approximately US$ 1.58 billion in 2033.
The demand for PD-L1 Biomarker Testing Market is expected to grow at a strong 9.4% CAGR during the forecast period, with the market expected to be worth US$ 597.9 Million in 2022. In light of this, the market valuation by 2032 will reach US$ 1.46 Billion. Increasing incidence of cancer across the globe is underpinning the need for advanced cancer diagnosis equipment, which is expected to boost the market in the forthcoming years. Cancer immunotherapy is emerging as a new avenue for the development of biomarker testing, thereby augmenting the growth in the market.
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Rising technological advancements in immunotherapy are propelling the adoption PD-L1 biomarker testing for non-small cell lung cancer as an effective means for therapeutic usage of PD-L1 proteins for benign lesions or tumor identification. Moreover, the unmet needs of cancer treatments are addressed by the growing availability of high-quality immunotherapy products worldwide. Lifestyle changes, such as physical inactivity, tobacco consumption and smoking, as well as unhealthy diet are prime factors responsible for the growing burden of cancerous indications in the current scenario.
The emergence of cancer immunotherapy has advanced the diagnostic approach to cancer detection and management, thus propelling the growth in the PD-L1 biomarker testing market. Key players operating in the market space are focusing on the development or extension of novel biologics using existing biologic resources for innovative product identification and provision of patented therapies.
Furthermore, the occurrence of adverse conditions such as organ failure and relapse into cancer through the process of chemotherapy is anticipated to fuel the adoption of PD-L1 biomarker testing among major healthcare facilities worldwide.
“Growing advancements in the field of oncology, along with accurate prediction insights offered by automated systems for biomarker testing will boost the sales of PD-L1 biomarker testing in the forthcoming years” says an FMI analyst.
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.
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- 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.
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Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global PD-L1 biomarker testing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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The study provides compelling insights on PD-L1 biomarker testing market segment based on product (PD-L1 22C3 assay kit, PD-L1 28-8 assay kit, PD-L1 SP142 assay kit and PD-L1 263 assay kit), indication (NSCLS, melanoma, renal cell carcinoma, gastrointestinal tract malignancy, haematological malignancies, ovarian cancer and others), end user (hospitals, diagnostic laboratories and cancer research institutes) across seven major regions.
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:
- NSCLS
- Melanoma
- Renal Cell Carcinoma
- Gastrointestinal tract Malignancy
- Haematological Malignancies
- Ovarian Cancer
- Other
By End User:
- Hospitals
- Diagnostic Laboratories
- Cancer Research Institutes
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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