The biomarkers market size is projected to expand at a CAGR of 10.80% over the course of the assessment period, reaching USD 88605.25 million by 2030.

The biomarkers market size is projected to expand at a CAGR of 10.80% over the course of the assessment period, reaching USD 88605.25 million by 2030.

Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Biomarkers Market.

Market Introduction

The need for in-depth diagnostic methods is growing as the prevalence of chronic and life-threatening disorders rises. Globally, the number of suppliers, manufacturers, and service providers of biomarkers market share is rising, opening huge prospects for market expansion.

The increasing incidence of COVID-19 patients around the world and the number of studies on the application of biomarkers for aiding COVID-19 identification & treatment will both drive market expansion. For instance, the U.S. FDA authorized the Tiger Tech COVID Plus Monitor, a revolutionary biomarker-based non-diagnostic screening device, in March 2021. With the use of this equipment, people 5 years of age and older can find suggestive biomarkers for COVID-19 and other hyperinflammatory and hypercoagulable disorders.

Market Drivers

Several reasons contribute to the biomarkers market trends. The most significant one is High Cancer Prevalence. The market for cancer biomarkers is expected to grow because of the rise in cancer cases around the world, which encourages the use of biomarkers to identify the condition sooner and treat it.

Secondly, there has been growing Biomarker Applications and Developments. The expectation is biomarkers market growth a result of advancements in neurological, autoimmune, cardiovascular, cardiac, and immunological biomarkers.

Furthermore, major Players Are Launching More Products. It is anticipated that the funding from private investors will have a significant impact on product releases in the biomarkers market during the coming years.

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Regional Analysis

According to biomarkers market statistics, more than 44% of the global market's revenue in 2020 was generated in North America. This diagnostic biomarker growth can be ascribed to the rising disease burden, rising consumer awareness, proactive government efforts, technology advancements, and advances in healthcare infrastructure. For instance, a research effort on COVID-19 biomarkers was sponsored with USD 78,000 by the Canadian government in 2020.

By 2028, Europe is anticipated to be the second-largest market, thanks to the presence of important research institutions and industry participants there. The expansion of partnerships between European institutions and providers of biomarker solutions is responsible for the market expansion. The market is anticipated to increase quickly because of the rapid expansion in the availability of biomarker testing.

The increasing number of contract research organizations and the low cost of clinical trials, together with the increased use of innovative medical imaging equipment, are among the biomarkers market trends in the Asia Pacific that are expected to increase the region's biomarkers market share.

The Middle East and Africa are two important regions that make up the Middle East and Africa biomarkers market. The expanding healthcare infrastructure and expanding use of treatments in this area are expected to change the MEA regional market.

Market Segmentation

The market segmentation for biomarkers is by product, type, application, and disease indication. On the basis of types of the sub types are- Consumables, Services and Software.

The subtypes for Types of market segmentation are:

  • Safety Biomarkers

  • Validation Biomarkers

  • Efficacy Biomarkers.

Diagnostics, Personalized Medicine, Drug Discovery and Development, Disease Risk Assessment are the sub-types for application types.

Β On the basis of Disease Indication, they are:

  • Cancer

  • Neurological Disorders

  • Cardiovascular Disorders

  • Immunological Disorders

  • Others

Key Players

The key player in the biomarkers market is:

  • Hoffmann-La Roche Ltd.

  • Abbott Laboratories

  • Epigenetics AG

  • General Electric

  • Johnson & Johnson Services, Inc.

  • Thermo Fisher Scientific, Inc.

  • Bio-Rad Laboratories, Inc.

  • Siemens Healthineers AG

  • Qiagen

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