Overview and Scope
Biomarkers refer to a biological molecule that is a marker for a condition, disease, or aberrant process and can be discovered in tissues, body fluids, or blood. It is used to determine how well the body responds to a disease or condition’s treatment. These biomarkers have a clinical role in narrowing or guiding treatment decisions.
Sizing and Forecast
The biomarkers market size has grown rapidly in recent years. It will grow from $61.31 billion in 2023 to $69.54 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to advancements in genomics and proteomics technologies, increasing prevalence of chronic diseases, growing emphasis on personalized medicine, rising demand for companion diagnostics, expansion of applications in drug development.
The biomarkers market size is expected to see rapid growth in the next few years. It will grow to $117.82 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to growing focus on early disease detection and prevention, expansion of biomarkers in oncology and immunotherapy, increasing investment in precision medicine initiatives, rise of liquid biopsy as a non-invasive biomarker detection method,rising preference of biomarkers in drug discovery and development. Major trends in the forecast period include development of multi-biomarker panels, emergence of exosome-based biomarkers, adoption of point-of-care biomarker testing, integration of real-world data in biomarker research, exploration of microbiome-based biomarkers .
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Segmentation & Regional Insights
The biomarkers market covered in this report is segmented –
1) By Technology: Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers
2) By Disease: Neurological Diseases, Cancer, Immunological Diseases, Cardiovascular Diseases, Other Diseases
3) By Type: Biomarker Of Exposure, Biomarker Of Diseases
4) By Audiences: Pharmaceutical Companies, Government And Private Research Institutes, Academic Institutes, Medical Device Manufacturing Companies
5) By Application: Risk Assessment, Development of Molecular Diagnostic, Disease Diagnosis, Drug Discovery And Development, Drug Formulation, Forensic Application, Other Applications (DNA Fingerprinting And Others )
North America was the largest region in the biomarkers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in heart diseases is expected to propel the growth of the biomarkers market in the forecasted period. The use of biomarkers for heart disease patients has increased tremendously over the last few years. Currently, the natriuretic peptides are the most used biomarker and help in the diagnosis of patients with heart failure. Biomarkers such as circulating biomarkers with high sensitivity C-reactive protein are used for the diagnosis of heart failure. Heart disease is among leading cause of death for people of most racial and ethnic groups in the United States. The increase in heart diseases will drive the demand for biomarkers. For instance, in August 2022, according to a report published by the American College of Cardiology, a US-based non-profit medical association, In the United States, it is anticipated that all four cardiovascular risk factors will increase between 2025 and 2060. The largest percentage rise is expected in diabetes, with a 39.3% increase to 55 million individuals, followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). The researchers also observed that the most substantial projected increases in cardiovascular disease rates were for stroke (33.8% to 15 million) and heart failure (33.4% to 13 million), followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). Because of the increase in heart diseases and heart deaths, there will be an increase in growth for the biomarkers.
Key Industry Players
Major companies operating in the biomarkers market report are Enzo Biochem Inc, Bio-Rad Laboratories Inc., Merck KGaA, PerkinElmer Inc., QIAGEN N. V., Adaptive Biotechnologies Corp., Agilent Technologies Inc., Biocrates Life Sciences AG, BioFire Diagnostics LLC, BioReference Laboratories Inc., Bio-Techne Corporation, Cepheid Inc., Eurofins Scientific SE, Exact Sciences Corporation, Foundation Medicine Inc., Genomic Health Inc., GenScript Biotech Corporation, Guardant Health Inc., Illumina Inc., Invitae Corporation, Laboratory Corporation of America Holdings, Luminex Corporation, Metabolon Inc., Myriad Genetics Inc., Natera Inc., Pacific Biosciences of California Inc., Quest Diagnostics Incorporated, Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Veracyte Inc.
The biomarkers market report table of contents includes:
1. Executive Summary
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