Biomarker discovery outsourcing services refer to specialized services provided by external organizations or companies that assist in identifying, validating, and developing biomarkers. These services facilitate the advancement of personalized medicine by enabling the identification of biological markers that can guide diagnosis, prognosis, and therapeutic decisions tailored to individual patients.
Sizing and Forecast
The biomarker discovery outsourcing services market size has grown rapidly in recent years. It will grow from $12.53 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing disease burden, pharmaceutical R&D demand, the regulatory environment, cost-effective solutions, research collaboration, and globalization.
The biomarker discovery outsourcing services market size is expected to see rapid growth in the next few years. It will grow to $26.85 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to personalized medicine expansion, AI and machine learning integration, precision oncology growth, biomarker validation services, regulatory support, targeted therapy demand, and patient-centric healthcare. Major trends in the forecast period include increased adoption of precision medicine, technological advancements, rising demand for companion diagnostics, expansion of drug development pipelines, emerging applications in non-traditional disease areas, integration of artificial intelligence (AI) and machine learning (ML), regulatory support and standardization, global market expansion, partnerships and collaborations, and a and a focus on cost-effectiveness and time efficiency.
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Segmentation & Regional Insights
The biomarker discovery outsourcing services market covered in this report is segmented –
1) By Type: Predictive Biomarkers, Prognostic Biomarkers, Safety Biomarkers, Surrogate Endpoints
2) By Discovery Phase: Biomarker Identification, Biomarker Validation, Biomarker Profiling, Biomarker Panel Development, Biomarker Selection
3) By Therapeutic Area: Oncology, Cardiology, Neurology, Autoimmune Diseases, Other Therapeutic Areas
4) By End Use: Pharmaceutical Companies, Biotechnology Companies
North America was the largest region in the biomarker discovery outsourcing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomarker discovery outsourcing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising focus on personalized medicine is expected to propel the growth of the biomarker discovery outsourcing services market going forward. Personalized medicine refers to healthcare that tailors medical treatment to the individual characteristics of each patient. The rise of personalized medicine is due to individual genetic, lifestyle, and environmental factors, resulting in precise healthcare outcomes that ultimately improve patient care and reduce adverse effects. Outsourcing biomarker discovery services facilitates the advancement of personalized medicine by providing tailored diagnostic and therapeutic solutions based on individual patients’ biological markers. For instance, in February 2024, according to a report published by the Personalized Medicine Coalition, a US-based organization, in 2023, the FDA approved 16 new personalized treatments for rare disease patients, up from six in 2022. The newly approved personalized treatments for 2023 include seven cancer drugs and three for other diseases and conditions. Therefore, the increasing focus on personalized medicine drives the growth of the biomarker discovery outsourcing services.
Key Industry Players
Major companies operating in the biomarker discovery outsourcing services market are Thermo Fisher Scientific Inc., Labcorp Drug Development Inc., ICON plc, Eurofins Scientific SE, WuXi AppTec Co. Ltd., Syneos Health Inc., Intertek Group plc, Charles River Laboratories International Inc., Parexel International Corporation, QIAGEN N.V., Medpace Inc., Bioclinica Inc., Evotec SE, GenScript Biotech Corporation, Precision for Medicine Inc., BioAgilytix Labs LLC, Celerion Inc., Frontage Laboratories Inc., SomaLogic Inc., Selvita S.A., BioIVT LLC, Discovery Life Sciences LLC, Metabolon Inc., Caprion Proteomics Inc., Canopy Biosciences LLC, Crown Bioscience Inc.
The biomarker discovery outsourcing services market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
………
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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