PUBLISHER: Meticulous Research | PRODUCT CODE: 1504217
PUBLISHER: Meticulous Research | PRODUCT CODE: 1504217
Biomarkers Market Size, Share, Forecast, & Trends Analysis by Type (Efficacy, Validation, Safety) Mechanism (Genetic, Epigenetic, Proteomic) Technology (ELISA, Microarray, PCR, NGS), Offering, Application, Disease Type, End User - Global Forecast to 2031
The Biomarkers Market is Projected to Reach $201.33 Billion by 2031 at a CAGR of 14.3% from 2024 to 2031
Succeeding extensive secondary and primary research and in-depth analysis of the biomarkers market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. The growth of this market can be attributed to various factors, such as the increasing pharmaceutical research spending, rising prevalence of target diseases, technological advancements in biomarker detection, rising focus on clinical research, increasing funding for biomarker research, rising focus on early disease diagnosis, and application of biomarkers in multiple areas. However, high capital investment for biomarker discovery and a lengthy timeline for biomarker development restrain the market's growth.
Furthermore, a rising focus on companion diagnostics, ongoing research on biomarkers, and a shift toward precision oncology are expected to offer growth opportunities. However, the challenges associated with biomarker validation and technical issues related to sample collection and storage are major challenges for the market's growth.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2020-2024). The key players operating in the global biomarkers market are F. Hoffmann-La Roche AG (Switzerland), Merck KGaA (Germany), Epigenomics AG (Germany), Abbott Laboratories (U.S.), QIAGEN N.V. (Germany), Bio-Rad Laboratories (U.S.), Revvity Inc (U.S.), Siemens Healthineers AG (Germany), Mindray (China), Thermo Fisher Scientific Inc. (U.S.), Eurofins Scientific SE (France), bioMerieux SA (France), Agilent Technologies, Inc. (U.S.), and Quanterix Corp. (U.S.).
Among all the biomarker types studied in this report, in 2024, the safety biomarkers segment is expected to account for the largest share of 42.4% of the biomarkers market. Safety biomarkers are used to assess the safety or potential risks after and before exposure to a medical product or environmental agent. The large share of the segment is attributed to the increase in drug discovery research and availability of funding. The large number of drugs entering clinical trials every year is contributing to the large share of the segment. Further, the rising number of drug recalls by regulatory agencies over toxicity concerns is increasing the adoption of safety biomarkers to assess toxicity.
Among all the offerings studied in this report, in 2024, the consumables segment is expected to account for the largest share of the biomarkers market. High adoption and recurring consumption of biomarker identification and testing kits, and wide availability of consumables support the largest share of the market. Additionally, the increasing adoption of these kits by researchers during drug discovery and clinical trials to assess the toxicity is contributing to the large share of the segment.
Among all the mechanisms studied in this report, in 2024, the epigenetic biomarkers segment is expected to account for the largest share of the biomarkers market. The rise in the prevalence of infectious and non-infectious diseases, coupled with the rising need to bring novel therapies to the market, is generating demand for epigenetic biomarkers. Additionally, epigenetic biomarkers are used in a range of applications, such as disease diagnosis and prognosis, treatment response prediction, and personalized medicines.
Among all the profiling technologies studied in this report, in 2024, the immunoassay segment is expected to account for the largest share of the biomarkers market. The large share of the segment is attributed to the high sensitivity and specificity of immunoassay, relatively lower cost, high flexibility & accessibility, and technological advancements. Additionally, the wide utilization of immunoassays in clinical diagnostics, drug discovery, and drug monitoring for biomarker detection contributes to the largest share of the market.
Among all the disease types studied in this report, in 2024, the oncology segment is expected to account for the largest share of the biomarkers market. In cancer research, biomarkers are used for wide applications such as early detection, diagnosis, prognosis, and treatment. The rising prevalence of cancer, increasing funding for oncology biomarker research, and increasing focus on precision oncology are the factors supporting the large share of the segment.
Among all the applications studied in this report, in 2024, the drug discovery & development segment is expected to account for the largest share of the biomarkers market. The rise in the number of molecules in clinical trials, the growing focus on cancer research, and the high spending and availability of funding for cancer research are supporting the segment's large share. The increasing spending and funding for drug discovery & development are further contributing to the largest share of the segment. For instance, In June 2023, the Commonwealth Government's Medical Research Future Fund (MRFF) (Australia) invested USD 9.75 million in establishing MedChem Australia, a new national medicinal chemistry initiative, to accelerate the identification of early-stage drug candidates.
Among all the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the biomarkers market. Pharmaceutical & biotechnology companies use biomarkers in drug discovery & development to enhance efficacy and safety. The largest share of the segment is attributed to high spending on R&D by pharmaceutical companies, a focus on developing novel therapies, and a growing focus on personalized medicines.
An in-depth analysis of the geographical scenario of the global biomarkers market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region.
In 2024, North America is expected to account for the largest share of 49.2% of the biomarkers market. The largest share of the region is attributed to the presence of key players, substantial R&D investments by pharmaceutical and biotechnology companies for drug and biomarker development, and supportive government initiatives. The regional government is focusing on biomarker research, further supporting the largest share in the region. For instance, in June 2024, The Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium (BC) launched a project, MMyeRisk, a project to evaluate tumor and immune biomarkers to predict progression from early precursor conditions to multiple myeloma and identify patients likely to benefit from earlier treatment.
Biomarkers Market Assessment-by Biomarker Type
Biomarkers Market Assessment-by Offering
Note: Other consumables include columns, filters, and microplates
Biomarkers Market Assessment-by Mechanism
Note: Other mechanisms include metabolic biomarkers and inflammatory biomarkers
Biomarkers Market Assessment-by Profiling Technology
Note: Other technologies include flow cytometry, electrophoresis, and DNA microarray
Biomarkers Market Assessment-by Disease Type
Note: Note: Other diseases include autoimmune diseases, blood disorders, and CNS diseases
Biomarkers Market Assessment-by Application
Note: Other applications include prognosis, risk assessment, and forensic
Biomarkers Market Assessment-by End User
Note: Other end users include academic & research institutes and forensics
Biomarkers Market Assessment-by Geography
(Note: SWOT analysis of the top 5 companies will be provided.)
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