Biomarker Market Share

Global Biomarkers Market Overview

The biomarkers market size was valued at USD 43.2 billion in 2022 and is projected to grow from USD 47.86 Billion in 2023 to USD 89.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.7% during the forecast period (2023 - 2032). Rising prevalence of cancer, and increase in funds and grants for biomarker research are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biomarkers Market Trends

• Growing Prevalence of spine degeneration to boost market growth

The surge in COVID-19 cases has contributed massively to the development of the biomarker technologies market. The future burden of cancer is projected to be even larger because of the rising incidence of smoking, unhealthy food habits, and physical inactivity, among others. Biomarkers can indicate a range of aspects of health or disease. Cancer is a complex illness caused by a multi-stage carcinogenesis process with several molecular pathway events that make diagnosis, prognosis, and therapy challenging. A single marker is ineffective since cancer is complicated. Moreover, each type of cancer has a specific molecular profile from the others. The discovery of novel biomarkers provides fresh possibilities for the development of treatment approaches designed to correct dysregulation in cancer. As a result, the market will expand due to the development of biomarker research and the rising incidence of cancer. According to Cancer Tomorrow, in 2020, the number of cancer cases in China was around 4.57 million and the number is anticipated to reach 5.81 million by 2030. As a result, rising number of cancer cases is anticipated to create the lucrative opportunity for the market growth.

Biomarkers are widely utilized in personalized medicine, companion diagnostics, disease risk assessment, and medication development. One of the main factors anticipated to significantly contribute to the market growth during the forecast period is the growing use of biomarkers in disease diagnosis. Biomarkers are significant in personalized medicine as they can be used for a wide range of purposes, including diagnosis, prognosis, and targeted treatments for many different types of illness conditions. Due to some limitations in the diagnosis and treatment of traditional diseases, personalized medicine has gained recognition. Personalized treatment approaches based on clinical and genetic features have grown increasingly popular among patients with cancer and immunological disorders. One of the main factors driving the demand for biomarkers and hence the growth of the market is the increasing demand for personalized treatment.

Also, the need for innovative biomarker-based tests in the market is being fueled by the increasing use of companion diagnostics as a tool for patient-specific treatment. For instance, the Trofile assay is used to assess the tropism of the HIV virus and the possibility that a patient can respond to Selzentry treatment. Selzentry (Maravoric), a chemokine receptor antagonist produced by Pfizer, was developed as an HIV treatment. An additional factor boosting market expansion is the increasing investment made in companion diagnostics by a few major market players. For instance, QIAGEN N.V. and LabCorp entered into a service agreement in April 2019 to allow cancer patients access to QIAGEN's companion diagnostic solutions following regulatory approval of drugs and the tests associated with it.

Biomarkers Market Segment Insights

Biomarkers Product Insights

The market of biomarkers segments, based on product, includes consumables, services, software. The consumables segment held the majority share in 2022 contribution to significant share in respect to the Biomarkers market revenue. The substantial proportion of this market can be primarily attributed to the frequent purchases of consumables and the increasing use of kit-based solutions for biomarker testing.

Biomarkers Type Insights

The Biomarkers market segmentation, based on type, includes safety biomarkers, validation biomarkers, efficacy biomarkers. The safety biomarkers segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Factors that are responsible for the significant portion of this segment are increased awareness of regular health checks in people, lower attrition percentage for drugs and a rise in the number of people with chronic diseases.

Biomarkers Application Insights

The Biomarkers market data has been bifurcated by application into diagnostics, personalized medicine, drug discovery and development, disease risk assessment. The diagnostics segment dominated the market in 2022. As chronic diseases become more widespread, there will be a greater demand for targeted treatment and diagnosis, which will contribute to the segment's growth. The market for diagnostics is expanding as a result of the expanding applications of biomarkers.

Figure 1: Biomarkers Market, by Application, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biomarkers Disease Indication Insights

Based on Disease Indication, the Biomarkers industry has been segmented into cancer, neurological disorders, cardiovascular disorders, immunological disorders, others. cancer held the largest segment share in 2022. Factors that contributed to the rapid growth of the segment includes management and early diagnosis by cancer biomarkers. The growth of cancer biomarkers is anticipated to be aided by a robust pipeline of products from key manufacturers.

Biomarkers Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Biomarkers market accounted for USD 19.78 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the rising population suffering from chronic diseases in the region, rising use of biomarkers in precision medicine, different organic & inorganic focus strategy adopted by key players with organized pharmaceutical companies in this region, recent expansion and advancements in biomarkers.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BIOMARKERS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Biomarkers market accounts for the second-largest market share due to the presence of significant research institutions and commercial players. The rise in partnerships between European institutions and producers of biomarker solutions is what is driving the market expansion. The market is expected to expand significantly as the availability of biomarker testing increases quickly. Further, the Germany market of biomarkers held the largest market share, and the UK market of biomarkers was the fastest growing market in the European region

The Asia-Pacific market of biomarker market is expected to grow at the fastest CAGR from 2022 to 2030. Regional growth is anticipated to be supported by factors like a rise in funding for the discovery of biomarkers, a high cancer prevalence, expanding research activities, and affordable clinical trials in developing countries. Additionally, it is anticipated that an increase in funding for biotech and pharmaceutical firms, an increase in the number of CROs, and a broadening of the use of biomarkers will support regional market expansion within the anticipated period. Moreover, China market of biomarkers held the largest market share, and the India market of biomarkers was the fastest growing market in the Asia-Pacific region

Biomarkers Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help in the market growth of Biomarkers even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Biomarkers industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Biomarkers industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Biomarkers industry has provided medicine with some of the most significant benefits. The Biomarkers market major player such as Opko Health (US), Quest Diagnostics Incorporated (US), Eurofins Scientific (Luxembourg), and others are working to expand the market demand by investing in research and development activities.

Quest Diagnostics Incorporated is a leading provider of diagnostic information services, including laboratory testing and diagnostic solutions. The company was founded in 1967 and is headquartered in Secaucus, New Jersey. Quest Diagnostics operates in over 2,200 patient service centers, employing more than 50,000 employees, and serves patients and healthcare providers throughout the United States and several other countries. Quest Diagnostics offers a wide range of diagnostic services, including routine and esoteric laboratory testing, genomics and oncology testing, and diagnostic insights and analytics. The company's laboratory testing services include clinical chemistry, hematology, microbiology, and immunology, among others. Quest Diagnostics also offers a variety of diagnostic solutions, such as clinical trials testing, drug monitoring, and infectious disease testing, to name a few. In 2019, Quest Diagnostics launched a new biomarker test called the PD-L1 IHC 28-8 pharmDx test, which is used to help identify patients who may benefit from certain cancer treatments. The test detects the presence of the PD-L1 protein, which is found on the surface of some cancer cells and can help predict whether certain immunotherapy drugs will be effective.

Also, Eurofins Scientific is a leader in analytical testing and laboratory services, providing a range of services to clients in various industries, including food, pharmaceuticals, environmental, and clinical diagnostics. The company was founded in 1987 in Nantes, France, and has since grown to become one of the largest laboratory services providers in the world, with more than 50,000 employees across 50 countries. Eurofins Scientific operates a network of over 800 laboratories worldwide, offering a broad range of analytical testing and laboratory services. The company's services include food and feed testing, pharmaceutical testing, environmental testing, clinical diagnostics, genetic testing, and forensic testing, among others. Eurofins' laboratory services are designed to provide customers with accurate and reliable results, as well as technical support and guidance. In 2019, Eurofins launched a new biomarker test for Parkinson's disease called the Parkinson's Disease Panel. The test measures the levels of various proteins in the blood that have been associated with Parkinson's disease, allowing for earlier diagnosis and more accurate monitoring of the disease.

Key Companies in the Biomarkers market includes

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  Opko Health (US)

  
  


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  Quest Diagnostics Incorporated (US)

  
  


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  Eurofins Scientific (Luxembourg)

  
  


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  Sema4 (US)

  
  


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  Fulgenmt Genetics Inc. (US)

  
  


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  Invitae Corporation (US)

  
  


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  Laboratory Corporation of America Holdings (US)

  
  


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  Illumina Inc. (US), among others

  
  

Biomarkers Industry Developments

Aug. 2022:The CE-IVD (IVDD) NGS test and analysis software was developed by Thermo Fisher Scientific, Inc. to improve access to personalized cancer biomarker testing.

April 2021:F. Hoffmann-La Roche Ltd. (Switzerland) officially launched cardiac biomarker tests for high - sensitivity cardiac troponin T (cTnT-hs) and N-terminal pro-brain hormone receptor test (NT-proBNP). These manufacturing biomarkers enhance the management of cardiovascular disease and may improve how clinicians identify heart attacks and treat heart failure.

Biomarkers Market Segmentation

Biomarkers Product Outlook

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  Consumables

  
  


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  Services

  
  


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  Software

  
  

Biomarkers Type Outlook

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  Safety Biomarkers

  
  


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  Validation Biomarkers

  
  


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  Efficacy Biomarkers

  
  

Biomarkers Application Outlook

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  Diagnostics

  
  


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  Personalized Medicine

  
  


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  Drug Discovery and Development

  
  


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  Disease Risk Assessment

  
  

Biomarkers Disease Indication Outlook

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  Cancer

  
  


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  Neurological Disorders

  
  


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  Cardiovascular Disorders

  
  


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  Immunological Disorders

  
  


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  Others

  
  

Biomarkers Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America