Biomarkers Market Size to Garner Around USD 207.46 Billion by 2030

According to Precedence Research, the global biomarkers market is expected to grow from its estimated value of USD 63.06 billion in 2021 to USD 207.46 billion by the end of 2030. This represents an excellent CAGR of 14.1% from 2021 to 2030.

A biological molecule or gene is referred to as a biomarker when it is utilized to precisely and effectively assess pharmacologic reactions, pathogenic processes, and biological processes. Biomarkers, which are often referred to as molecular markers or signature molecules, are present in the tissue, various bodily fluids, and blood. Biomarkers are frequently used to monitor the body's response to a specific treatment for an illness or condition. They can aid medical practitioners in diagnosing patients' health. The use of biomarkers as stand-in endpoints during the development of treatments has been authorized by the U.S. Food and Drug Administration (FDA). Personalized medicine, drug discovery and development, disease risk assessment, diagnostics development, and other fields all heavily rely on biomarkers. The creation of cancer diagnostic biomarkers is the focus of current research efforts.

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Market Growth

The market is primarily driven by the increased prevalence of various chronic diseases among the general population, particularly among the elderly. Additionally, the market is being driven by the growing use of biomarkers in the diagnosis of infectious diseases. A good market outlook is also being created by ongoing advancements in biomarker-based diagnostics, such as biomarker signatures that lead to quicker medication development, non-invasive testing, and early diagnosis. Accordingly, the industry is being stimulated by the quick use of biomarkers in the creation of companion diagnostics to pinpoint therapeutic target molecules. The market is being driven by the rising need for customized therapy as well as a paradigm change away from traditional pathophysiology and epidemiology methodologies and toward biomarker studies.

Regional Analysis

More than 45% of the global market's revenue came from North America in 2021, which held the greatest revenue share. This growth can be ascribed to the rising disease burden, rising consumer awareness, proactive government efforts, technology advancements, and improvements in the healthcare system.

Because there are numerous renowned research institutions and industry companies working in Europe, it is anticipated that by 2030, this continent would hold the second-largest market. A growing number of European institutions and biomarker service providers are working together, which is responsible for the market expansion. It is anticipated that the market would increase quickly as a result of the rapid expansion of biomarker testing options.

Competitive Landscape

The biomarker industry is only somewhat competitive. Abbott Laboratories Inc., Johnson & Johnson, Roche Diagnostics, Bio-Rad Laboratories, Epigenomics AG, and Qiagen hold the majority of the market share. This market's expansion is heavily reliant on technological development and R&D spending. The majority of pharmaceutical businesses currently invest in R&D, and governments also contribute significantly to the advancement of technology.

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Biomarkers Market Report Scope

Market Dynamics of the Biomarkers Market

Market Drivers

A number of factors, including the rise in applications for companion diagnostics and personalized medicine, the rapid expansion of contract research organizations, the falling cost of clinical trials in various emerging economies, the high incidence of cancer, the surge in R&D spending by biotechnology and pharmaceutical companies, and new initiatives in biomarker research, are driving the growth of the global biomarkers market. A significant advancement in the field of cancer diagnostics, biomarkers have provided a significant boost for early cancer detection. In the treatment and management of cancer, early discovery can be a significant benefit. As molecular indicators of a cell's physiological status at a specific moment, biomarkers are essential.

Market Restraints

The global market for biomarkers has challenges due to large capital expenditures, a poor return on investment overall, technical problems with sample collection and storage, and inadequate regulatory and payment frameworks. Nevertheless, if the businesses operating in the global biomarkers market can demonstrate the clinical validity of the tests, the densely populated growing economies in the Asia Pacific, such as India and China, are predicted to open up new revenue streams.

Market Opportunities

The main causes of the biomarker market's expansion are the rising prevalence of cardiac and cancer diseases as well as biomarker developments. The prevalence of cancer cases around the world has boosted the use of cutting-edge technology. The World Cancer Research Fund International (WCRF) estimates that there were 18 million cases worldwide in 2021. Such an increase in the prevalence of cancer is probably going to encourage businesses to create fresher targets for cancer detection, which will ultimately increase the market for biomarkers in the upcoming years.

Report Highlights of the Biomarkers Market

• Type Insight

Due to increasing public awareness of the importance of regular health screenings, a decline in drug attrition rates, and an increase in the population who are at a higher risk of contracting diseases like cancer, cardiovascular disease, and kidney disorders, the safety biomarkers segment held the largest market share of more than 38% in 2020. Preclinical safety review and drug development take less time and money when safety biomarkers are used in preclinical trials to help identify drug candidates that are likely to be well-tolerated by humans.

• Application Insight

With a revenue share of more than 32% in 2021, the drug discovery & development segment dominated the biomarkers market. This was due to intensive R&D investments for the creation of tailored treatments, an improved capacity to forecast drug efficacy, and a quick approval procedure. One such case is Halozyme, Inc.'s introduction of targeted therapy for patients with Non-small Cell Lung Cancer (NSCLC) who have the EGFR mutation.

• Disease Insight

With a market share of more than 38% in 2021, the cancer market was the largest. This growth was fueled by increased demand for quick and accurate diagnostic tools, an increase in the incidence of cancer worldwide, and an unmet need for more specialized, personalized therapeutic targets for cancer patients. The market is anticipated to be driven by its application in early cancer detection, prognosis estimation, and treatment response monitoring. According to the American Cancer Society, 1.8 million new cases of the disease were recorded in 2020, and 606,520 people in the country passed away from it.

Recent Development of the Biomarkers Market

• In February 2022, The "Neurofilament as a Fluid Biomarker of Neurodegeneration in Familial Frontotemporal Degeneration (FTD)" project, which was recently launched by the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium, will determine the most effective blood tests for measuring a protein that is essential for the early detection of rare neurodegenerative diseases.

• In February 2022, The OncoDEEP kit was introduced by the genomic and therapeutic company OncoDNA. With the use of the kit, laboratories with NGS capabilities may do thorough biomarker testing, offer powerful data analysis, and assist oncologists in providing the most efficient and individualized cancer treatments.

Major Market Segments Covered:

By Type

• Validation
• Efficacy
• Safety

By Disease

• Neurological Diseases
• Cancer
• Immunological Diseases
• Cardiovascular Diseases
• Others

By Application

• Personalized Medicines
• Drug Discovery & Development
• Diagnostics
• Others

Regional Segmentation

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
• Latin America (Brazil and Rest of Latin America)
• Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

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