The Clinical Biomarkers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Clinical Biomarkers Global Market Report 2024, The clinical biomarkers market size has grown rapidly in recent years. It will grow from $27.66 billion in 2023 to $30.59 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increased prevalence of chronic disease, focus on personalized medicine and targeted therapies, drug development and clinical trials, regulatory support and funding.
The clinical biomarkers market size is expected to see rapid growth in the next few years. It will grow to $46.11 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to expansion of companion diagnostics, focus on early diagnosis and disease prevention, increasing applications in precision oncology and neurodegenerative diseases, growing infectious diseases. Major trends in the forecast period include ai-powered biomarker discovery, machine learning integration, multi-omics integration, technological innovations, key players’ partnerships.
High cancer prevalence is expected to propel the growth of the clinical biomarker market going forward. Cancer is a term used to describe a group of disorders in which abnormal cells grow and divide uncontrollably, with the potential to invade and harm healthy bodily tissue. Clinical biomarkers play a crucial role in cancer prevention by aiding in early detection, risk assessment, and monitoring of individuals at high risk for developing cancer. For instance, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020. Therefore, the high cancer prevalence is driving the growth of the clinical biomarker market.
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The clinical biomarkers market covered in this report is segmented –
1) By Offering: Product, Service
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), Enzyme-Linked Immunosorbent Assay (ELISA), Other Technologies
3) By Clinical Area: Cancer Biomarker, Cardiac Biomarker, Neurological Biomarker, Infectious Disease Biomarker, Immunological Biomarker, Non-Invasive Prenatal Testing, Other Clinical Areas
4) By Application: Clinical Diagnostic, Translational Research
5) By End User: Contract Research Organizations (CROs), Research and Academic Laboratories, Biopharmaceutical and Biotech Companies, Diagnostic Centers, Other End Users
Technological advancements are a key trend gaining popularity in the clinical biomarker market. Major companies operating in the clinical biomarker market are developing innovative technologies to sustain their position in the market. For instance, in June 2023, Veravas Inc., a US-based manufacturer of medicinal products for enhancing laboratory medicine, launched VeraBIND (Biomarker Isolation and N-enrichment for Detection) technology. It provides a uniquely innovative and comprehensive approach that enhances the precision of biomarker identification and reduces the likelihood of false positive or negative results across a range of sample types. Clinical laboratories can improve their diagnostic procedures and aid in early disease detection by putting this invention into practice, allowing for prompt and focused interventions. Additionally, VeraBIND paves the path for quicker assay creation, providing precision and consistency in studies, clinical studies, and diagnostic screenings.
The clinical biomarkers market report table of contents includes:
1. Executive Summary
2. Clinical Biomarkers Market Characteristics
3. Clinical Biomarkers Market Trends And Strategies
4. Clinical Biomarkers Market – Macro Economic Scenario
5. Global Clinical Biomarkers Market Size and Growth
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26. South America Clinical Biomarkers Market
27. Brazil Clinical Biomarkers Market
28. Middle East Clinical Biomarkers Market
29. Africa Clinical Biomarkers Market
30. Clinical Biomarkers Market Competitive Landscape And Company Profiles
Top Major Players:
- Johnson and Johnson Services Inc
- F. Hoffmann-La Roche Ltd
- Thermo Fisher Scientific Inc
- Abbott Laboratories
- Danaher Corporation
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