Biomarker Testing Services Market Forecasts to 2030 - Global Analysis By Testing Type, By Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Biomarker Testing Services Market is accounted for $900.82 million in 2023 and is expected to reach $1636.19 million by 2030 growing at a CAGR of 8.9% during the forecast period. A laboratory procedure that looks for specific genes, proteins, or other substances that may be a symptom of a disease or illness, such as cancer, in a sample of tissue, blood, or other bodily fluid. Additionally, biomarker testing can be used to check for chromosomal or gene anomalies that may increase a person's risk of developing cancer or other diseases. The use of biomarker testing in conjunction with other procedures, like biopsies, can help diagnose some cancers.

According to ClinicalTrials.gov, more than 262,298 studies were registered in 2018, while more than 399,518 trials were registered as of September 2022. Clinical trials are projected to improve in the future years as clinical research funding increases. This is predicted to increase demand for drug discovery research and, as a result, demand for biomarker testing in the post-pandemic era.

Market Dynamics:

Driver:

Increasing incidence of chronic illnesses and technological advancements

The demand for biomarker testing services is rising as the prevalence of chronic diseases like diabetes, cardiovascular disease, and cancer rises. In the early detection, diagnosis, and monitoring of these diseases, biomarkers are extremely important. In addition, technological developments have transformed the field of biomarker testing. Mass spectrometry, next-generation sequencing, high-throughput screening methods, and immunoassays have all improved the precision and effectiveness of biomarker analysis. As a result of these discoveries and technological advancements, the market is predicted to grow profitably during the forecast period.

Restraint:

High cost associated with research

The rapidly expanding global market for biomarker research services may be constrained by biotechnology and pharmaceutical companies' inability to conduct biomarker research and by the high cost of conducting the research required for the development of new drugs. Moreover, low cost-to-benefit ratios, technical challenges with sample collection and storage, and inadequate regulatory and reimbursement frameworks are additional potential roadblocks that may hinder the development of the global market for biomarker research services in the years to come.

Opportunity:

Growing investment in R&D

Some of the key factors propelling market expansion include increasing investments in pharmaceutical R&D, the growing demand for precision medicine used in cancer therapy, and an increase in the burden of infectious and chronic diseases fueling demand for biomarker testing. Furthermore, over the previous five years, the number of clinical trials has been steadily rising. ClinicalTrials.gov reports that more than 262,298 studies were registered in 2018 and that, as of September 2022, there were more than 399,518 trials registered. Clinical trials are expected to get better in the coming years as funding for clinical research rises. In the post-pandemic era, it is anticipated that this will lead to a rise in demand for drug discovery research and, consequently, for biomarker testing.

Threat:

Lack of skilled professionals

The expansion of the global market for bioanalytical testing services is being hampered by a lack of qualified or experienced professionals in the healthcare sector. Due to the use of cutting-edge technologies and sampling in testing procedures, qualified medical personnel are essential for both drug development and testing. In order to conduct the tests, laboratories and research facilities need trained personnel; otherwise, a lack of qualified staff may result in health risks, which would lower the technology's adoption rate. These factors limit market expansion as a whole.

COVID-19 Impact:

The COVID-19 pandemic has significantly impacted the biomarker testing services market. While there was an initial disruption due to lockdowns and reduced healthcare visits, the demand for biomarker testing surged as diagnostic tests, serology tests, and vaccine efficacy studies became critical. Biomarker testing played a pivotal role in identifying and monitoring COVID-19 cases, driving research for therapies and vaccines, and assessing their effectiveness. The pandemic accelerated innovation in the field, leading to the development of novel biomarkers and diagnostic technologies. Post-pandemic, the market continues to grow as healthcare systems prioritize early disease detection and personalized medicine, underscoring the importance of biomarker testing services.

The biopharmaceutical and pharmaceutical companies segment is expected to be the largest during the forecast period

During the forecast period, the pharmaceutical and biotechnology companies segment is anticipated to have the largest market share. One of the main factors driving the segment's growth is an increase in the funding provided by the pharmaceutical and biotechnology industries for clinical research. Due to this, AstraZeneca and Roche partnered in September 2022 to reimagine cancer diagnosis and treatment in the Middle East and North Africa. Additionally, pharmaceutical companies are becoming more interested in creating targeted cancer therapies, which is contributing to segment growth.

The serology immunogenicity and neutralizing antibodies segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the serology immunogenicity and neutralizing antibodies segment is anticipated to have lucrative growth. To find antibodies produced against a treatment, these tests are required for assessing the immune response in preclinical models using clinical samples. It increases the dependability of the production process for vaccines and biologics while enabling the organization to assess efficacy and safety. The growing use of serology, immunogenicity, and neutralizing antibody-based testing during the clinical phase for the development of monoclonal antibodies (mAbs) to ensure that the response does not jeopardize patient safety is driving up demand for bioanalytical testing in this segment.

Region with largest share:

During the period of the forecast, North America is anticipated to dominate the market. Major market players who provide services for biomarker testing are present in the region, which is one of the factors supporting the market in the area. Additionally, the presence of sophisticated healthcare infrastructure, the rise in disease burden that leads to an increase in laboratory diagnostic testing, and growing R&D investment by public organizations in the region are driving market expansion in this region.

Region with highest CAGR:

Owing to increasing funding for pharmaceutical and biotechnology R&D operations, the Europe region is expected to grow quickly over the forecast period. The rise in cardiovascular disease is another factor driving the market in Europe. Additionally, diabetes is a major problem in this region. It has increased significantly in several countries in the region over the past ten years, sometimes by more than 50%. All of these factors are therefore anticipated to boost market growth during the forecast period.

Key players in the market:

Some of the key players in Biomarker Testing Services Market include: Euro fins Scientific, Abbott Laboratories, Bio Agilytix Labs, Bio-Rad Laboratories, Inc., Charles River Laboratories, Epigenetics AG, F. Hoffmann-La Roche Ltd., ICON Plc, Intertek Group Plc, IQVIA, Johnson & Johnson Services, Inc., Labcorp Drug Development, Qiagen, SGS SA, Siemens Healthineers AG, Syneos Health and Thermo Fisher Scientific, Inc.

Key Developments:

In September 2023, QIAGEN announced the expansion of its clinical decision support software, QIAGEN Clinical Insight Interpret (QCI Interpret), to include artificial intelligence (AI)-enhanced coverage of thousands of rare disease genes, advancing its AI-capabilities that have been established for over two decades. The expansion complements the human-certified content curation of QCI Interpret and enables complete bibliographical coverage of the clinical exome.

In July 2023, Quanterix Corporation, a company fueling scientific discovery and breakthrough diagnostics through ultrasensitive biomarker detection, today announced it has launched LucentAD, a test to assist in the evaluation of patients experiencing cognitive symptoms consistent with the early signs of Alzheimer's disease (AD). The LucentAD test, which will be available to healthcare providers as an aid in conjunction with other diagnostic tools, provides clinicians with a simplified process to quickly assess the likelihood of a patient having amyloid pathology consistent with AD. This information will help healthcare providers determine appropriate follow up and treatment planning for a suspected Alzheimer's patient.

In June 2023, JennyCo, Inc., a first-of-its-kind healthcare data exchange powered by Web3, has announced that it has partnered with AYUMETRIX, a leading provider of laboratory testing services.

Testing Types Covered:

• Biomarker Testing
• Cell-based Assays
• Method Development Optimization and Validation
• Pharmacokinetic Testing
• Serology Immunogenicity and Neutralizing Antibodies
• Toxicology Services
• Virology Testing
• Other Testing Types

Technologies Covered:

• Mass Spectrometry
• Chromatography

Applications Covered:

• Neurology
• Cardiology
• Gastroenterology
• Hematology
• Immunology
• Infectious Diseases
• Metabolic Disorders
• Oncology
• Orthopedics
• Other Applications

End Users Covered:

• Biopharmaceutical and Pharmaceutical Companies
• Contract Development and Manufacturing Organizations
• Contract Research Organizations
• Healthcare Institutes
• 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

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All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances