Biomarkers Market to Reach USD 207.50 Bn, Globally, by 2030 at 14.9% CAGR

According to Nova one advisor, the global Biomarkers market size accounted for USD 71.86 billion in 2022 and is estimated to achieve a market size of USD 207.50 billion by 2030 growing at a CAGR of 14.9% from 2022 to 2030.

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 Key Takeaways:

• The safety biomarkers segment accounted for the largest revenue share in 2022 due to the growing awareness about routine health checkups and rising use in the preclinical stage
• The validation biomarkers segment is estimated to register the fastest CAGR over the forecast period owing to a wide application scope in pharmaceutical companies
• The drug discovery & development segment dominated the global market in 2022 owing to the ability to accelerate drug development in certain diseases as they can predict drug efficacy more easily than conventional clinical endpoints
• The diagnostic segment will register the fastest CAGR over the forecast period due to the increased use of biomarkers in early-stage disease diagnosis
• The cancer disease segment held the maximum revenue share in 2022 due to an increased prevalence of cancer and the use of biomarkers for the detection of cancer
• CVD is estimated to be the fastest-growing disease segment over the forecast period
• North America accounted for the maximum revenue share in 2022 due to the presence of major key players in the region and increased per capita healthcare expenditure
• Europe, on other hand, is estimated to be the fastest-growing regional market over the forecast period

increasing collaborations & funds for R&D activities, rising consumer awareness, COVID-19 pandemic, and technological advancements in disease diagnosis. Research aids in the development of effective therapies for the treatment of various diseases, such as cancer, Cardiovascular Diseases (CVDs), immunological diseases, and neurological diseases.

It has been observed that there has been an increase in public and private investments in the market. For instance, in January 2020, Johnson & Johnson Services, Inc. received a grant from Food Allergy Research & Education (FARE) worth USD 250,000 to propel the research on food allergy biomarkers. This grant is anticipated to help in the potential discovery and validation of allergy biomarkers for developing therapies. This can potentially improve the quality of life for 32 million people in the U.S. who are suffering from food allergies.

The government has also increased the funding for cancer research. For instance, in February 2020, President Trump, recently, signed a bill to fund the federal government in the U.S. along with the National Cancer Institute that received USD 6.44 billion. This funding is more than nearly USD 300 million that was allocated in 2019. These funds are expected to fuel the research associated with cancer, which is likely to have a positive impact on the market in the long run. Proactive government initiatives are driving the betterment of the reimbursement scenario in this market.

For instance, several researchers in the Asia Pacific region are involved in collaborations with regulatory authorities to validate and discover surrogate markers for use in drug development. The Japanese regulatory authorities and the government have employed a framework to promote collaborations and partnerships. Commercial insurers, generally, decide the need for biomarker testing for a patient before insuring their targeted therapy expenditures. While some insurers mandate medical evidence or prescription for biomarker testing, others may require patients to acknowledge that they are not undertaking certain therapies.

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Report Scope of the Biomarkers Market

Type Insights

The safety biomarkers segment held the largest market share of more than 40% in 2022, driven by the high awareness about routine health checkups, lowered drug attrition rate, and a rise in population that is at high risk of developing various diseases, such as cancer, cardiovascular conditions, and kidney disorders. The use of safety biomarkers in preclinical trials assists in the selection of drug candidates likely to be well-tolerated by humans, which thereby reduces the time and cost required for preclinical safety evaluation & drug development.

The validation biomarkers segment is expected to exhibit the second-fastest growth over the forecast period owing to the use of these biomarkers in the pharmaceutical sector to predict the therapeutic failure of pharmaceutical molecules with low therapeutic profiles and distinct genetic profiles. For instance, in January 2020, Biocept, Inc. launched the Target Selector platform and assays that allow physicians to evaluate circulating tumor cells and breast/lung cancer-associated biomarkers in the CSF of patients.

Application Insights

The drug discovery & development segment dominated the biomarkers market in 2022 with a revenue share of more than 33.5% owing to extensive R&D initiatives for the development of targeted therapeutics, the ability to predict drug efficacy more easily, and a fast-track approval process. One such instance is the launch of targeted therapy for EGFR mutation in Non-small Cell Lung Cancer (NSCLC) patients by Halozyme, Inc.

The diagnostics segment is estimated to register the fastest CAGR over the forecast period owing to advantages in early-stage detection of disease, this creates an opportunity for the diagnostic segment to propel early diagnosis and improve the rate of diagnosis. It facilitates the detection & treatment of COVID-19. 

Disease Insights

The cancer segment held the largest market share of more than 39% in 2022, driven by a rise in demand for rapid and accurate diagnostic tools, an increase in global cancer burden, and an unmet need for more specific, personalized, therapeutic targets for cancer patients. Its use for early detection of cancer, estimate prognosis, and monitor response to the treatment is expected to drive the market. According to the American Cancer Society, 1.8 million new cases were observed and 606,520 died due to the disease in the U.S. in 2020.

The CVD segment is anticipated to register the second-fastest CAGR over the forecast period. The use of cardiac biomarkers in patients suffering from COVID-19 with an increased risk of developing heart disease facilitates early detection and risk stratification. As per BMJ in 2020, around 50.0% of COVID-19 patients had an increased risk of developing cardiac conditions.

Regional Insights

In 2022, North America accounted for the highest revenue share of more than 46% of the global market. The increasing disease burden, growing consumer awareness, proactive government actions, technological breakthroughs, and improvements in healthcare infrastructure can be attributed to this growth. For instance, in 2020, the Canadian Government-funded USD 78,000 research project for COVID-19 biomarkers. The research was aimed at identifying biomarkers for COVID-19 severity detection.

Europe is projected to be the second-largest market by 2028 due to the presence of prominent research institutes and market players operating in this region. The market growth can be attributed to increasing collaborations between European universities and biomarker solution providers. Rapid growth in the availability of biomarker testing is expected to improve healthcare services in the region and boost the market.

Some of the prominent players in the Biomarkers Market include:

• Bio-Rad Laboratories, Inc.
• Qiagen
• Epigenomics AG
• Abbott
• Hoffmann-La Roche Ltd.
• Agilent Technologies, Inc.
• Johnson & Johnson Services, Inc.
• Abbott
• Siemens
• Thermo Fisher Scientific, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biomarkers market

By Type

• Validation
• Efficacy
• Safety

By Disease

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

By Application

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

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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