Predictive Diagnostics Market Is Expected To Grow At A CAGR Of Around 10% By 2031

Healthcare

For the area of medical diagnosis, accuracy and precision are inevitable. This has triggered healthcare companies to resort to predictive diagnostic tools that can amplify the precision as well as reliability of diagnostics, and help healthcare providers to improve their patient care and medical outcomes.

The global predictive diagnostics market is expected to reach the valuation of over US$ 3 billion by 2031, finds a recent study published by Fact.MR. The study opines that the convergence of healthcare practices and next-generation technologies will take an upsurge in the coming years, and this will make predictive diagnostics the ‘New Normal’ in the healthcare industry in the coming future.

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Key Takeaways

 

  • Growing adoption of advanced technologies in the healthcare industry indicates the potential for growth in the predictive diagnostics market. By 2031, the global market for predictive diagnostics is expected to surpass the valuation of US$ 3 billion, creating new opportunities for diagnostic tools with high accuracy and precision in the coming decade.
  • The predictive diagnostics market is expected to grow at a CAGR of around 10% between 2021 and 2031. Manufacturers are expected to innovate around the adoption of technologies to predict the risks of various diseases such as cancer, neurological disorders, etc.
  • Based on test types, the adoption of predictive diagnostics based on polymerase chain reaction (PCR) tests is expected to remain high, which manufacturers are slowly moving towards next-generation sequencing (NGS) platforms by integrating advanced technologies in their tools.
  • With the growing demand for predictive diagnostic tools for identifying the risks of various types of cancer, manufacturers in the predictive diagnostics market are upscaling the production and research & development effort to discover accurate predictive tests for cancer.
  • The demand for predictive diagnostics is expected to remain significantly high in developed regions, especially in North America. Growing presence of market leaders and increasing healthcare spending in the United States makes the region a profitable market for manufacturers and other stakeholders.

Predictive Diagnostics Market: Segmentation

The study offers a detailed estimation and outlook of the predictive diagnostics market based on the test, indication, end user, and region.

Test
  • PCR based
  • NGS (sequencing) based
Indication
  • Cancer
  • Metabolic Disorders
  • Neurological Disorders
  • Musculoskeletal Diseases
  • Others
End User
  • Diagnostics
  • Genetic Laboratories And Clinics
  • Research And Academic Institutes
Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Key Players

Key players in the global predictive diagnostics market are Abbott Laboratories, Therawis, F.Hoffmann-La Roche Ltd., BIOMÉRIEUX SA, Agilent Technologies, Illumina, Inc., Thermo Fisher Scientific, Inc., Bio-Rad, Myriad Genetics, Inc., Genesis Genetics, Centogene N.V., BGI, 23andMe, Inc., Predictive Oncology, Counsyl, Inc., Bio-Rad Laboratories Inc., Mylab Discovery Solutions Pvt. Ltd., and ARUP Laboratories.

In September 2021, Janssen – a pharmaceutical subsidiary of Johnson & Johnson – announced that it has introduced its nine-month startup accelerator – a program for the digital health startup space to gain innovative ideas on predictive diagnostics to discover precision treatment and therapies.

 

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