Biomarker Market Forecasts to 2030 – Global Analysis By Product (Consumables, Software and Services), Type (Safety Biomarkers, Validation Biomarkers and Efficacy Biomarkers), Indication, Service, Application, End User and By Geography

Biomarker Market Forecasts to 2030 – Global Analysis By Product (Consumables, Software and Services), Type (Safety Biomarkers, Validation Biomarkers and Efficacy Biomarkers), Indication, Service, Application, End User and By Geography

According to Stratistics MRC, the Global Biomarker Market is accounted for $58.12 billion in 2023 and is expected to reach $110.24 billion by 2030 growing at a CAGR of 14.2% during the forecast period. A biomarker, short for biological marker, refers to a measurable and quantifiable biological parameter or characteristic that serves as an indicator of a physiological or pathological process, a disease state, or a response to treatment. Biomarkers can be found in various biological samples, such as blood, urine, tissue, or other bodily fluids. Biomarkers can encompass a wide range of attributes, including genetic mutations, gene expression patterns, protein levels, enzyme activity, metabolite concentrations, and imaging features.

According to data published by ministry of health in China, about 203 million people are suffering from cardiovascular diseases and this number is expected to increase by 73% in 2030.

Market Dynamics

Driver

Increase in cancer incidence

Cancer is a complicated illness caused by a multi-stage carcinogenesis process with several molecular pathway events that make diagnosis, prognosis, and treatment difficult. A single marker is ineffective because cancer is complicated. Additionally, each kind of cancer has a unique molecular profile from the others. The identification of novel biomarkers opens up new avenues for the development of treatment approaches intended to correct dysregulation in cancer. As a result, the worldwide market will expand due to the development of biomarker research and the rising incidence of cancer.

Restraint

Strict regulations

Strict rules and regulations are imposed to help build confidence and trust among healthcare providers, patients, and stakeholders in the biomarker market. This is crucial for the widespread adoption of biomarker-based diagnostics and therapies. Regulations promote standardization in the development, validation, and application of biomarkers. These regulations are complex and therefore become critical for making uninformed medical decisions. Thereby, this element hampers the market growth.

Opportunity

Rising popularity of personalized medicine

Personalized medicine relies on biomarkers to identify specific genetic, molecular, or biochemical characteristics of a patient's disease. These biomarkers help determine the most effective treatment options, minimizing the need for trial-and-error approaches. By tailoring treatments to the individual patient's biological makeup, personalized medicine aims to increase treatment efficacy. Personalized medicine, guided by biomarkers, allows for the customization of drug dosage and treatment regimens based on individual patient characteristics, optimizing therapeutic outcomes. Its greater patient engagement and satisfaction followed up by early disease detection and prevention fuels the market growth.

Threat

High development costs

The development of biomarkers requires significant financial investment and a multidisciplinary approach involving scientists, clinicians, regulatory experts, and other professionals. The high development costs reflect the complexity and rigor required to bring reliable biomarkers to clinical practice. Also, biomarker development often involves long and iterative processes; this prolonged timeline can result in cumulative costs. In addition, maintaining high standards of quality, recruiting skilled scientists and setting up technological infrastructure adds extra expenses which hinder the market demand.

Covid-19 Impact

The COVID-19 pandemic has a moderately beneficial effect on the biomarkers industry since biomarkers are essential for the creation of COVID-19 patient therapeutics. Biomarkers were discovered to be essential in the diagnosis and therapy in a number of studies. In addition, several organisations have introduced biomarker products to identify and treat COVID-19. These developments caused the market to expand throughout the pandemic era.

The cancer segment is expected to be the largest during the forecast period

The cancer segment is estimated to have a lucrative growth. Biomarkers play a crucial role in the diagnosis, prognosis, and treatment of cancer. They are measurable biological indicators that can provide information about the presence or progression of cancer, as well as the likely response to specific treatments. It can help identify specific molecular or genetic characteristics of a tumor, allowing for the selection of targeted therapies that are more likely to be effective. From early detection to treatment selection, monitoring and research, biomarker contributes to more personalized and effective approaches to cancer diagnosis and treatment.

The diagnostics & research laboratories segment is expected to have the highest CAGR during the forecast period

The diagnostics & research laboratories segment is anticipated to witness the highest CAGR growth during the forecast period. Diagnostic labs play a vital role in monitoring disease progression and evaluating the effectiveness of treatments. Diagnostics and research laboratories play a pivotal role in advancing the field of biomarkers. They are involved in every stage of the biomarker development and application process, from discovery and validation to clinical testing, assay development, and patient care. Their work contributes significantly to improving disease diagnosis, treatment selection, and patient outcomes.

Region with largest share

North America is projected to hold the largest market share during the forecast period owing to the high disease burden, rising consumer awareness of biomarkers, encouraging government efforts, technical breakthroughs, and improvements in healthcare infrastructure. In North America, the United States holds the largest market share. A significant element anticipated to fuel the region's growth is the presence of prominent firms in this area and the many organic and inorganic projects they have undertaken.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to its high prevalence of cancer, rising research initiatives, and low cost of clinical trials. Application of biomarkers in the drug discovery and development process is boosting key market players to invest in the research to develop novel biomarkers. In addition, an increase in funding for biotech and pharma companies, a rise in the number of CROs, and an increasing application scope of biomarkers are expected to facilitate regional market growth during the projected period.

Key players in the market

Some of the key players profiled in the Biomarker Market include GE Healthcare, Aushon Biosystem, Eisai Co. Limited, Abbott Laboratories, Inc., Epistem Limited, Agilent Technologies Inc., Roche Diagnostics Limited, Siemens AG, Bio-Rad Laboratories, Thermo Fisher Scientific Inc., Johnson & Johnson Services, Inc., Epigenomics AG, QIAGEN, Enzo Biochem Inc, Charles River Laboratories International Inc., Eurofins Scientific, LifeSign LLC, Bruker, Sino Biological Inc and Quest Diagnostics Incorporated.

Key Developments

In November 2022, Siemens is expanding its generator circuit-breaker portfolio with a new compact version - the HB1-Compact (HB1-C). The versatile and highly customizable solution uses maintenance-free vacuum switching technology and addresses the most challenging of constraints.

In September 2022, GE Healthcare, a medical technology, diagnostics, and digital solutions company, launched its ‘Made in India’, ‘AI-powered’ Cath lab-Optima IGS 320 to advance cardiac care in India. It is built at Wipro GE Healthcare’s new Bengaluru factory and leverages the GE proprietary AutoRight technology.

Products Covered
• Consumables
• Software
• Services

Types Covered
• Safety Biomarkers
• Validation Biomarkers
• Efficacy Biomarkers

Indications Covered
• Cancer
• Cardiovascular Disorders
• Infectious Diseases
• Neurological Disorders
• Immunological Disorders
• Other Indications

Services Covered
• Assay Development
• Biomarker Validation & Testing
• Sample Preparation
• Other Services

Applications Covered
• Drug Discovery & Development
• Disease Diagnostics
• DNA Fingerprinting
• Personalized Medicine
• Disease Risk Assessment
• Other Applications

End Users Covered
• Pharmaceutical & Biotechnology Companies
• Hospitals & Specialty Clinics
• Diagnostics & Research Laboratories
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements