PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388778
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388778
The biomarker discovery outsourcing services market is a growing sector within the broader pharmaceutical and biotechnology sector. Biomarkers are quantifiable indicators of molecular or biological processes with a wide range of applications in areas including disease diagnosis, personalized medicine, and drug development. Biomarker discovery outsourcing services provide specialized expertise and resources to help academic research institutions, pharmaceutical companies, and other organizations validate, utilize, and identify biomarkers for several purposes.
The increase in the prevalence of chronic diseases including cancer, cardiovascular diseases, neurodegenerative conditions, and diabetes are major contributing factors to the market expansion. Additionally, the growth of companion diagnostics, a focus on liquid biopsy for cancer detection, and the use of machine learning and artificial intelligence for data analysis are emerging trends fueling the demand of the market. Moreover, as personalized medicine becomes more prevalent and as the demand for targeted therapies and diagnostic tools increases, thus, the demand for biomarker discovery outsourcing services market is expected to continue growing. Furthermore, biomarker discovery is a crucial component of healthcare and life sciences research. It aids in developing targeted therapies, understanding disease mechanisms, and the early detection of diseases. This also led to a rising demand for outsourcing services to expedite biomarker research.
The global biomarker discovery outsourcing services market is segmented on the basis of type, therapeutic area, discovery phase, end use, and region.
The market is divided into four categories based on type: surrogate endpoints, predictive biomarkers, safety biomarkers, prognostic biomarkers, and others. The surrogate endpoints segment is accounted to witness the highest growth rate. To accomplish crucial objectives such as disease progression or patient survival, clinical trials can take years and need substantial resources. Surrogate biomarkers enables for more efficient and shorter clinical trials because they can offer early indications of treatment efficacy, such advantages are projected to drive the segment's growth
The market is divided into two categories based on end use: biotechnology companies, pharmaceutical companies, and others. The biotechnology companies segment is likely to maintain its dominance over the forecast period. Outsourcing enables biotechnology companies to tap into the expertise of specialized service providers, such as Contract Research Organizations (CROs). Outsourcing biomarker discovery might be cost-effective over maintaining in-house teams, equipment, and infrastructure. Biotechnology companies can allocate resources more effectively by focusing on their core competencies, like therapeutic research or drug development.
By regional analysis, the biomarker discovery outsourcing services market can be segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America is likely to dominate the market due to its access to innovating technologies, robust biotech industry, regulatory expertise, and advanced healthcare infrastructure. In the region, regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the Canadian Food Inspection Agency (CFIA), have renowned regulatory infrastructure for biomarkers in advanced drugs and diagnostics. This regulatory clarity supports validation efforts and biomarker research. Furthermore, Asia Pacific is anticipated to witness maximum growth during the forecast period. In the region, various economies such as China and India are considered emerging markets for biotechnology and pharmaceuticals. To these countries, the cost-effectiveness of outsourcing biomarker discovery projects can be attractive to worldwide pharmaceutical business.
Businesses in this space typically provide a vast range of services, from sample collection to data analysis, to meet the diverse needs of biotechnology pharmaceutical clients. Various specialized biotechnology companies and contract research organizations (CROs) offer biomarker discovery services. These companies have the infrastructure and expertise to carry out biomarker-related research and development on behalf of their clients. The market is influenced by the advancement of technology in proteomics and genomics which allow more comprehensive biomarker discovery. Market players operating in this sector are adopting several strategic initiatives, such as collaborations, partnerships, and new product launches, to maintain their business foothold in the market.
In January 2022, Inotiv, Inc. and Synexa Life Sciences announced that they intend to form a collaboration that will accelerate Inotiv's development of biomarkers important to the understanding of efficacy and safety of novel biotherapeutics, improve the business preclinical discovery and safety assessment services.
The scope of this report covers the market by its major segments, which include as follows: