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Global Biomarkers Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Product, Biomarker Type (Safety Biomarkers, Efficacy Biomarkers), Application, Disease Indications and Region – Industry Forecast (2022 to 2027).

Published: January, 2022
ID: 164
Pages: 175
Formats: report pdf report excel report power bi report ppt

Biomarkers Market Size (2022 to 2027)

As per the report, the global biomarkers market size is predicted to grow to USD 76.38 billion by 2027 from USD 40.66 billion in 2022. This market is showcasing an increasing pace of 13.44% CAGR from 2022 to 2027.

Biomarkers Market Share Insights:

  • Based on product, consumables product type dominated the global Biomarkers market during the forecast period.
  • Based on type, the safety biomarkers segment is assumed to have the largest market share by the end of 2027
  • Based on disease indications, the cancer segment is projected to have the highest growth rate during the forecast period.
  • The North American biomarkers market is expected to lead the Biomarkers market and will be valued worth USD 25.30 Billion by 2027
  • Asia Pacific Biomarkers market showcases the highest CAGR of 15.50% during the forecast period.

Biomarkers play a crucial role in diagnosing and treating various diseases such as cancer, cardiovascular problems, etc. A combination of biomarkers with novel drugs is evaluating effective treatment procedures for different conditions. With the help of technological advancements, biomarkers are designed to treat neurological diseases by measuring biomolecules that track the brain's health. The launch of biomarker signatures makes the treatment of neurological disease easier by diagnosing it through non-invasive testing methods. Biomarkers are very safe and give valid results with high precision, and this property is also making the market move forward.

Impact of COVID-19 on the global biomarkers market:

The World Health Organization declared COVID-19 on March 11, 2020, as a global pandemic and announced healthcare emergence. The recent novel coronavirus causes SARS-COV-2. The emergence of the outbreak has affected almost all sectors of the economy. The pandemic has kept many lives at risk, including a nationwide lockdown implemented and a ban on transportation.

The increase in the number of covid-19 positive cases has led to the massive development of the biomarkers market. The molecular markers in the blood are used to prevent the virus and the diseases it causes. Amplified studies have been launched into study results about understanding the pathophysiology and clinical progress of COVID-19. Biomarkers are used for categorizing early infection and individuals who are in danger of increasing critical conditions and requiring hospital care. Biomarkers have played an essential role in clinical decision-making and the number of infectious diseases and treatment procedures. It has become mandatory to access biomarkers to determine the severity of illness and suitable resource allocation.

MARKET DRIVERS:

The rising incidence of cancer, growing CROs, and increasing prevalence of chronic diseases worldwide is primarily expanding the global biomarkers market.

In urban areas, people are more likely to adopt sedentary lifestyles, causing a high possibility of being prone to various chronic diseases. Growing chronic disease incidence, majorly cancer, CVDs, and diabetes, are demanding more research initiatives to favor market growth.

Increasing research and development spending, rising healthcare expenditure, and growing demand for biomarkers in the diagnostic field are crucial factors driving the growth of the global biomarkers market. Besides, an increasing number of the low costs of clinical trials in emerging countries, growth initiatives in biomarkers research, increasing growth of information technology, and growing demand for drug discovery is further propelling the growth of the global biomarkers market.

Increasing initiative steps by government organizations worldwide to reduce the cost of treatment procedures and growing focus on personalized medicine are also lavishing the demand of the biomarkers market. The rising prevalence increases the productivity of drugs in pharmaceutical companies, and people's demand for the prevention of disease by diagnosing as early as possible further escalates the market growth.

Growing investments in healthcare centers by both public and private organizations and the rise in the priority for minimally invasive and non-invasive treatment procedures also prompt the demand of this market.

MARKET RESTRAINTS:

Huge investment needs and unfavorable reimbursement rules are major restraints to the global biomarkers market growth. Costs associated with the testing processes are very high, which is estimated to inhibit the market to some extent. Additionally, biomarker validation is a highly time-consuming and expensive procedure for launching the biomarker for administration and use in diagnostic procedures. Healthcare settings and physicians need clinical trial validity of a biomarker before investing in the product. The validity may take up to 15 years, and significant investments can be very taxing, especially for smaller organizations. FDA approvals for biomarkers take a lot of time and have multiple steps, making it a tiring process and restraining the market's growth. A biomarker is tested based on multiple approval points like sensitivity, reproducibility, specificity, etc.; meeting all these criteria can be challenging.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Product, Type, Application, Disease Indications, and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities.

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

 

This research report on the global biomarkers market has been segmented based on the product, type, application, disease indications, and region.

Biomarkers Market - By Product:

  • Consumables
  • Software
  • Services

Based on product type, consumables product type is expected to hold a leading share in the global biomarkers market during the forecast period. Increasing awareness of the utilization of various devices to improve therapeutic procedures elevates the demand for this segment. Rising spending on healthcare is to boost the growth rate of the market.

Biomarkers Market - By Type:

  • Safety Biomarkers
  • Efficacy Biomarkers
  • Validation Biomarkers

Based on biomarkers type, the safety biomarkers segment is predicted to register the largest share in the global market, whereas efficacy biomarkers are growing tremendously over the past few years. The usage of safe products leads to a high success rate and promotes the well-being of the patient after surgeries broadening the market demand. People's need for appropriate treatment procedures by diagnosing the disease is also enhancing the growth rate of this market.

Biomarkers Market - By Application:

  • Diagnostics Developments
  • Drug Discovery & Development
  • Personalized Medicine
  • Disease Risk Assessment

Based on the application, the diagnostic developments segment is gaining traction and is estimated to dominate throughout the forecast period. The rise in capital income in both developed and developing countries are gearing up the market demand. Also, increasing the scale of hospitals is leveraging the growth rate of the market.

Biomarkers Market - By Disease Indications:

  • Cancer
  • Cardiovascular
  • Neurological
  • Immunological Disorders

Based on disease indications, the cancer segment is the most dominant among all and is predicted to grow at a healthy rate. The increasing geriatric population and rising incidences of cancer diseases are escalating the demand for the biomarkers market. Increasing new cancer patients and the rising number of deaths due to cancer expand the scope of the cancer disease indication segment.

Biomarkers Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

North America held a significant market share of 39.0% of the global biomarkers market in 2019 and is expected to have a significant revenue share during the forecast period due to the high incidence of cancer, proactive government initiatives, technical breakthroughs, advanced healthcare infrastructure, increased use of biomarkers in customized treatment, rising disease burden, investments from essential market participants, and growing consumer awareness in countries like the U.S., and Canada.

The market in Europe is also expected to have sizable growth during the forecast period due to the presence of several renowned research institutions and industry representatives. Additionally, growing partnerships, access to biomarker testing, and rising interest from European universities and biomarker solution providers drive the market's growth in countries like the U.K., France, Germany, Italy, etc.

Asia-Pacific is estimated to grow at the highest CAGR of 16.20% during the forecast period. The market is expected to have grown due to increasing cases of CVDs in countries like China and India and rising investments in research and development from the governments. Additionally, the aging populations and the advances in biopharmaceuticals also drive the growth of the market. 

KEY MARKET PARTICIPANTS:

Some of the noteworthy companies operating in the global biomarkers market profiled in this report are Bio-Rad Laboratories (U.S.), Qiagen N.V. (Netherlands), Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.), Singulex, Inc. (U.S.), BioSims Technologies (France), Cisbio Bioassays (France), and Signosis, Inc. (U.S.)

RECENT MARKET DEVELOPMENTS:

  • In March 2020, Meso Scale Discovery, a Meso Scale Diagnostics division, announced its Biomarkers services at AAPSNational Biotechnology Conference. 
  • In February 2020, Enzo Biochem announced that its subsidiary, Enzo clinical labs, Inc., had received New York State Approval for its CT/NG/Tv tests using liquid-based cytology sample collection on its proprietary Gen-Flex platform. 
  • In February 2020, QGEnN announced the receipt of the CE Mark for its therascreen PIK3CA Rotor-Gene Q PCR Kit and its subsequent Europe Launch. 
  • In July 2019, Enzo Biochem Inc. announced several vital transformative initiatives in its lab business unit designed to propel and accelerate its growth. 
  • In August 2018, Enzo Biochem, an integrated diagnostic and therapeutic company, announced the implementation of its growth strategy. It has agreed to purchase a commercial facility. 
  • In December 2018, Singulex announced the granting of a significant European patent covering methods for determining myocardial. 
  • In April 2016, DiagnoCure Inc. announced that its board of directors has decided, subject to shareholder's approval, to proceed with the voluntary liquidation and dissolution of Quebec's Business Corporations Act. 

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FAQ's

How much is the global biomarkers market going to be worth by 2027?

As per our research report, the global biomarkers market size is projected to be USD 76.38 billion by 2027. 

Which region is growing the fastest in the global biomarkers market?

Geographically, the North American biomarkers market accounted for the largest share of the global market in 2021. 

At What CAGR, the global biomarkers market is expected to grow from 2022 to 2027?

The global biomarkers market is estimated to grow at a CAGR of 13.44% from 2022 to 2027. 

Which are the significant players operating in the biomarkers market?

Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.) and Singulex, Inc. are some of the significant players operating in the biomarkers market.

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