PD L1 Biomarker Testing Market: Increasing prevalence of lung cancer across the globe to drive the market
The pd l1 biomarker testing market is showing a positive growth trajectory due to accelerated tracking of diseases and their associated treatment. According to new research market for PDL1 biomarker testing market, conducted by Future Market Insights (FMI), adoption of PDL1 will remain strong in the US and Europe during the course of the forecast period.
“Market players are constantly focussing on cost-efficient devices and strategic planning to ensure regional and international presence. Manufacturers are also trying to direct their attention towards improving these products,” says the FMI Analyst.
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PDL1 Biomarker Testing Market – Important Highlights
- PD-L1 SP142 assay kits will account for half the market share in terms of value, owing to high efficiency in detecting cancer
- North America will remain a key region as it holds almost 50% of the overall market share in terms of value.
- Due to soaring prevalence of these diseases, non-small cell lung cancer and melanoma is likely to hold 50% of the market share.
PDL1 Biomarker Testing Market – Driving Factors
- Cancer diagnostic and analysis requires major testing to detect early-stage non-small cell cancer.
- Use of PDL1 marker remains prominent in measuring treatment progress and acquiring better or accurate results.
- Adoption of PDL1 markers prove to highly efficient in revealing mutation and establishing protein expression levels to enhance cancer treatment.
- Lung cancer patients with adenocarcinoma rely on these testers to achieve early-stage progress and detection.
PDL1 Biomarker Testing Market – Key Restraints
- Poor efficiency and precision of biomarkers might hamper market growth to a great extent.
- Constant fluctuations in the result decelerates market growth and limit PDL1 adoption.
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Anticipated Market Impact by Coronavirus Outbreak
The COVID-19 pandemic has had a considerable impact on PDL1 biomarker testing market. Reduced number of screenings is adversely affecting the market growth. According to Cancer Research Network, screening rate has decreased by 50% in UK and 30% in the United States.
However, considering the seriousness of these diseases, market will not remain sluggish for a long period and a recovery is expected in late 2021.
Key players in the market include F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., NeoGenomics Laboratories, Inc, HalioDx and Abcam plc. Participants are focussing on reduction of operational costs and adoption of organic strategies.
Business strategies like capacity expansion and strategic partnerships will boost the market growth globally, thereby, enhancing geographical presence throughout. Mergers and acquisitions will lead to a better foothold too.
More on the report
FMI market research report presents in-depth insights on PDL1 biomarker testing market. The foremost objective focusses on demand generators, and technological advancements in the market including instrument precision and services. The report brings to our notice about the leading manufacturers who are involved in the market, along with their detailed profiles.
Essential and up-to-date data information related to key market players are principally engaged in the production of inhibitors, have been brought with the help of a detailed dashboard view.
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