USD 66.97 billion
Biomarkers Market Size, Share, Growth Analysis, By Product & Service(Consumables (Assay Kits, Reagents & Chemicals, Columns & Filters), Services), By Type(Safety Biomarkers, Efficacy Biomarkers (Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamic Biomarkers), By Research Area(Genomics, Proteomics, Metabolomics, and Other Research Areas), By Technology(Immunoassays (ELISA, Protein Microarrays, Western Blot), NGS), By Disease Indication(Cancer, Infectious Diseases, Immunological Disorders, Neurological Disorders), By Application(Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine, Clinical Research), By End User(Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Other End Users), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2509 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
92
|Figures:
76
Biomarkers Market Insights
Global Biomarkers Market size was valued at USD 66.97 Billion in 2022 and is poised to grow from USD 75.88 Billion in 2023 to USD 206.04 Billion by 2031, at a CAGR of 13.3% over the forecast period (2024–2031).
The biomarkers market has been witnessing significant growth in the past few years owing to rising cases of chronic illnesses, technological advancements, and the rising demand for personalized medicine. Presently, the number of patients suffering from chronic diseases is increasing on a global scale and this is majorly driving the demand for early detection, monitoring, and diagnosis, possible with biomarkers. Moreover, modernizations in proteomic, genomic, and metabolomics technologies improve the discovery and emergence of novel biomarkers. These factors are significantly driving the biomarkers market. However, the market is restrained by factors like the high cost of creating and validating biomarkers comprising major technology, research, and clinical trials. Also, low awareness of biomarkers and associated benefits offered will hamper the overall market growth. Nonetheless, the expansion of tailored medicine and extensive advances in technologies are a few opportunities seen in the biomarkers market.
US Biomarkers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Safety
Fastest Growth
Safety
Growth Rate
13.3% CAGR
Global Biomarkers Market ($ Bn)
Country Share for North America Region (%)
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Biomarkers Market Segmental Analysis
The Global Biomarkers Market is segmented by Product & Service, Type, Research Area, Technology, Disease Indication, Application, End User, and Region. Based on Product & Service, the market is segmented into Consumables (Assay Kits, Reagents & Chemicals, Columns & Filters), Services, and Software. Based on Type, the market is segmented into Safety Biomarkers, Efficacy Biomarkers (Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamic Biomarkers, Prognostic Biomarkers), and Validation Biomarkers. Based on Research Area, the market is segmented into Genomics, Proteomics, Metabolomics, and Other Research Areas. Based on Technology, the market is segmented into Immunoassays (ELISA, Protein Microarrays, Western Blot), NGS, PCR, Mass Spectrometry, Chromatography, and Other Technologies. Based on Disease Indication, the market is segmented into Cancer, Infectious Diseases, Immunological Disorders, Neurological Disorders, Cardiovascular Disorders, and Other Disease Indications. Based on Application, the market is segmented into Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine, Clinical Research, and Other Applications. Based on End User, the market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Other End Users. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Based on type, the safety biomarkers segment held a larger share of the biomarkers market and is expected to lead over the forecast period as well owing to its benefits for preventing drug-induced toxicity. These types of biomarkers are vital for the detection of adverse conditions and drug-induced toxicity. They are useful in monitoring possible damage to kidney, liver, or cardiac damage, which could avoid severe health issues and enhance patient safety. These factors are fueling the demand for safety biomarkers, thus impacting the segment growth.
However, the efficacy biomarkers segment is expected to grow steadily due to their importance in drug development. These biomarkers are crucial for examining the effectiveness of novel therapies. They are useful in determining if any drug holds desired biological impact, which is important for development of drug and clinical experiment success. In addition, growing use of biomarkers for personalized medicine is impressively impacting the segment growth.
Analysis by Application
Based on application, the drug discovery & development segment is projected to hold a majority share of the market owing to early identification of drug targets and improved drug development efficacy. Biomarkers are important in detecting and validating drug targets initially in drug discovery. They aid researchers in comprehending disease mechanisms and detecting possible targets for novel drugs. Moreover, the adoption of biomarkers can simplify the drug development procedure by offering early signs of drug safety and efficacy. These factors are expected to drive the segment’s growth in the coming years.
Conversely, the clinical diagnostics segment is projected to grow at a considerable pace owing to increasing demand for accurate diagnostics and early detection of diseases. At present, there is an increased demand for reliable and precise diagnostic tools to identify early diseases, monitor the progression, and personalize treatments. Biomarkers are ideal tools that improve diagnostic accuracy and help in better patient outcomes. Moreover, greater use of biomarkers in early detection of diseases, even before appearance of symptoms are also fueling the segment growth.
Global Biomarkers Market By Type (%)
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Biomarkers Market Regional Insights
Region-wise, North America held maximum share of the market in the past years and is expected to hold dominant share in future as well due to the prevalence of advanced healthcare infrastructure and increasing investments in biomarkers for more advancements. Key nations like Canada and the United States hold a mature and well-developed healthcare infrastructure comprising better diagnostic laboratories, superior research facilities, and a strong healthcare system. This infrastructure aids extensive research and development of biomarkers. Also, heavy investments from both private and public sectors are propelling R&D in North America. The leading companies operating in the region include Bio-Rad Laboratories, Inc., Abbott, Thermo Fisher Scientific, Agilent Technologies Inc., and more.
Asia-Pacific region is expected to be the fastest-growing among others owing to increasing healthcare investments in research and infrastructure. Private sectors and governments are funding the improvements of biomedical research and the expansion of healthcare competencies, driving the development of biomarkers and adoption. Furthermore, the growing cases of chronic illnesses like diabetes, cardiovascular diseases, and cancer in the region are majorly demanding biomarkers for early detection, monitoring, and disease management. These factors are driving the biomarkers market in the region.
Global Biomarkers Market By Geography
- Largest
- Fastest
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Biomarkers Market Dynamics
Drivers
Growing Demand for Personalized Medicine and Increased R&D
- There is an increased demand for personalized or tailored treatment depending on individual patient needs and his/her genetic profiles, which is dependent on biomarkers to enhance therapy. Hence, the demand for biomarkers has been fueling at a faster rate in the past few years. Also, expanding research activities in biotechnology and molecular biology is aiding the discovery of new biomarkers and their uses in different domains.
Growing Senior Population and Rising Awareness and Adoption
- The growing geriatric population is more vulnerable to chronic diseases, which ultimately demands biomarkers to treat and manage such age-associated illnesses. Also, growing awareness of the benefits of biomarkers among healthcare professionals and patients is driving their adoption into standard medical practices.
Restraints
Lack of Standardization
- Fluctuations in biomarker testing techniques and poor standardization in practices and platforms may result in inaccurate or inconsistent outcomes and hamper broader adoption. Moreover, validating biomarkers for certain conditions and diseases could be difficult and consumer more time. This will ultimately slow the development process and hamper market growth.
Technological Restraints and Data Privacy Issues
- The present technologies might be lacking in terms of specificity, sensitivity, and reliability, which could potentially restrain the utility and effectiveness of biomarkers. Moreover, the gathering and use of the data through biomarkers increased issues regarding patient data security and privacy, which could limit its adoption and the market growth.
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Biomarkers Market Competitive Landscape
Biomarkers Market providers need to focus on maximizing their business scope by reaching into new markets and developing biomarkers for different industrial and personal uses. Raising new capital to fund their R&D and business expansion efforts will be essential for new biomarkers companies going forward. The development of custom robots for specific applications across different industry verticals will also help companies expand their sales potential in the future.
Top Player’s Company Profiles
- Hoffmann-La Roche AG (Switzerland)
- Thermo Fisher Scientific Inc. (United States)
- Agilent Technologies, Inc. (United States)
- QIAGEN N.V. (Netherlands)
- Bio-Rad Laboratories, Inc. (United States)
- Merck & Co., Inc. (United States)
- PerkinElmer, Inc. (United States)
- Illumina, Inc. (United States)
- BD (Becton, Dickinson and Company) (United States)
- Myriad Genetics, Inc. (United States)
- Siemens Healthineers AG (Germany)
- Danaher Corporation (United States)
- Biomerieux SA (France)
- Waters Corporation (United States)
- Abbott Laboratories (United States)
- Sysmex Corporation (Japan)
- Bio-Techne Corporation (United States)
- Charles River Laboratories International, Inc. (United States)
- Eurofins Scientific SE (Luxembourg)
- Pacific Biomarkers (United States)
Recent Developments
- In April 2024, Abbott declared that it received FDA clearance for its i-STAT TBI cartridge test to examine patients with doubted mild TBIs (traumatic brain injuries), also called ‘concussions’.
- In July 2024, Thermo Fisher Scientific launched a novel CXCL10 testing service, which permits painless urine sample collection and examination with results obtained in less than 24 hours, offering data faster than the existing techniques used.
- In April 2024, Bio-Rad Laboratories, Inc. introduced the ddPLEX ESR1 Mutation Detection Kit, its first ultra-sensitive multiplexed digital PCR (Polymerase Chain Reaction) assay. This assay increases the company’s offering of Droplet Digital PCR for oncology market, where such assays help therapy selection, translational research, and disease monitoring.
Biomarkers Key Market Trends
- Growing Use of Vitality Biomarkers: Vitality biomarkers help medical professionals to measure a patient’s health before they experience any symptoms. This allows early mediation and prevents the progression of health issues. In addition, IoT devices and wearables are democratizing these improvements by tracking crucial health factors in real-time. Moreover, these devices offer rich datasets and enhance the diagnostics quality.
Biomarkers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the biomarkers market is fueled by the rising cases of chronic diseases and increasing demand for personalized medicine. However, restraints like low awareness in unexplored areas and technological limitations are likely to hamper market growth. North America is expected to hold a larger share of the market due to improved healthcare infrastructure, growing investments, and a strong regulatory environment. Besides, the rise of companion diagnostics and integration with digital health are a few opportunities seen in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 66.97 Billion |
| Market size value in 2031 | USD 206.04 Billion |
| Growth Rate | 13.3% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biomarkers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biomarkers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biomarkers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biomarkers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biomarkers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biomarkers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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