Biomarkers Global Market Report 2024

“Biomarkers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on biomarkers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for biomarkers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biomarkers market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Technology: Safety Biomarkers; Efficacy Biomarkers; Validation Biomarkers
• 2) By Disease: Neurological Diseases; Cancer; Immunological Diseases; Cardiovascular Diseases; Other Diseases
• 3) By Type: Biomarker Of Exposure; Biomarker Of Diseases
• 4) By Audiences: Pharmaceutical Companies; Government And Private Research Institutes; Academic Institutes; Medical Device Manufacturing Companies
• 5) By Application: Risk Assessment; Development of Molecular Diagnostic; Disease Diagnosis; Drug Discovery And Development; Drug Formulation; Forensic Application; Other Applications (DNA Fingerprinting And Others )
• Companies Mentioned: Enzo Biochem Inc; Bio-Rad Laboratories Inc.; Merck KGaA; PerkinElmer Inc.; QIAGEN N. V.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Biomarkers refer to a biological molecule that is a marker for a condition, disease, or aberrant process and can be discovered in tissues, body fluids, or blood. It is used to determine how well the body responds to a disease or condition's treatment. These biomarkers have a clinical role in narrowing or guiding treatment decisions.

The main types of biomarkers are biomarker of exposure and biomarker of diseases. The biomarker of exposure is a substance corresponding to the chemical that may be found in the body. When a person is exposed to chemicals by direct contact, inhaling or ingesting helps to identify them. Various technologies used for biomarker are safety biomarkers, efficacy biomarkers, and validation biomarkers used to treat diseases such as neurological diseases, cancer, immunological diseases, cardiovascular diseases, and other. These biomarker are used by pharmaceutical companies, government and private research institutes, academic institutes, and medical device manufacturing companies for risk assessment, the development of molecular diagnostic, disease diagnosis, drug discovery and development, drug formulation, forensic application and others (DNA fingerprinting, and others).

The biomarkers market research report is one of a series of new reports from The Business Research Company that provides biomarkers market statistics, including biomarkers industry global market size, regional shares, competitors with a biomarkers market share, detailed biomarkers market segments, market trends and opportunities, and any further data you may need to thrive in the biomarkers industry. This biomarkers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biomarkers market size has grown rapidly in recent years. It will grow from $61. 31 billion in 2023 to $69. 54 billion in 2024 at a compound annual growth rate (CAGR) of 13. 4%. The growth in the historic period can be attributed to advancements in genomics and proteomics technologies, increasing prevalence of chronic diseases, growing emphasis on personalized medicine, rising demand for companion diagnostics, expansion of applications in drug development.

The biomarkers market size is expected to see rapid growth in the next few years. It will grow to $117. 82 billion in 2028 at a compound annual growth rate (CAGR) of 14. 1%. The growth in the forecast period can be attributed to growing focus on early disease detection and prevention, expansion of biomarkers in oncology and immunotherapy, increasing investment in precision medicine initiatives, rise of liquid biopsy as a non-invasive biomarker detection method,rising preference of biomarkers in drug discovery and development. Major trends in the forecast period include development of multi-biomarker panels, emergence of exosome-based biomarkers, adoption of point-of-care biomarker testing, integration of real-world data in biomarker research, exploration of microbiome-based biomarkers .

The increase in heart diseases is expected to propel the growth of the biomarkers market in the forecasted period. The use of biomarkers for heart disease patients has increased tremendously over the last few years. Currently, the natriuretic peptides are the most used biomarker and help in the diagnosis of patients with heart failure. Biomarkers such as circulating biomarkers with high sensitivity C-reactive protein are used for the diagnosis of heart failure. Heart disease is among leading cause of death for people of most racial and ethnic groups in the United States. The increase in heart diseases will drive the demand for biomarkers. For instance, in August 2022, according to a report published by the American College of Cardiology, a US-based non-profit medical association, In the United States, it is anticipated that all four cardiovascular risk factors will increase between 2025 and 2060. The largest percentage rise is expected in diabetes, with a 39. 3% increase to 55 million individuals, followed by dyslipidemia (27. 6% to 126 million), hypertension (25. 1% to 162 million), and obesity (18. 3% to 126 million). The researchers also observed that the most substantial projected increases in cardiovascular disease rates were for stroke (33. 8% to 15 million) and heart failure (33. 4% to 13 million), followed by ischemic heart disease (30. 7% to 29 million) and heart attack (16. 9% to 16 million). Because of the increase in heart diseases and heart deaths, there will be an increase in growth for the biomarkers.

The increase in the geriatric population is expected to boost the growth of the biomarker market going forward. The geriatric population refers to the percentage of people 65 and older to those between the ages of 18 and 64 who are employed. The elevated vulnerability of elderly individuals to various diseases, including chronic conditions and cancer, underscores the need for early detection and monitoring, often reliant on biomarkers. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2. 1 billion people worldwide who are 60 years old or older. Therefore, the increase in the geriatric population is driving the growth of the biomarker market.

Major companies operating in the biomarker market are adopting strategic partnerships approach to provide expanded decentralized clinical trials to individuals, businesses, and governments. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2021, Medidata, a US-based technology company, partnered with Labcorp, a US-based healthcare company. Under this partnership, Medidata receives and processes medical-grade sensor data in drug, vaccine, and device trials within Labcorp Drug Development's clinical trial portfolio, bolstering its decentralized clinical trial (DCT) offerings. Leveraging Medidata Sensor Cloud, LabCorp enhances its decentralized clinical trial offerings by collecting and processing medical-grade sensor data in drug, vaccine, and device trials, with the aim of expediting and enhancing patient outcomes. Additionally, Labcorp and Medidata collaborate on co-developing digital biomarkers spanning a wide range of medical devices and therapeutic areas, with the objective of establishing a library of digital biomarkers for advancing therapeutic research and developing new digital diagnostics.

Major companies operating in the biomarker market are developing innovative products such as biomarker tests to meet larger customer bases, more sales, and increase revenue. Biomarker tests, also known as biomarker assays, are laboratory techniques or diagnostic tests that measure specific biological markers, which can include molecules, genes, proteins, or other substances, to provide information about various physiological or pathological processes in the body. For instance, in July 2023, Quest Diagnostics, a US-based medical laboratories company, launched a novel prostate cancer biomarker test. The newly introduced tissue-based test service aims to meet the urgent clinical demand for tests that can assist in distinguishing potentially aggressive cases of prostate cancer in males. Quest has created and validated this laboratory test through an intellectual property license agreement with Envision, allowing the utilization of Envision's exclusive biomarker and immunohistochemistry technology, incorporating Envision's distinct staining methods and innovative biomarkers referred to as EV1, EV2, and EV3.

In July 2023, Biocare Medical, a US-based biotechnology company, acquired Empire Genomics for an undisclosed amount. Through this acquisition, Biocare is broadening its molecular portfolio, encompassing more than 1 million biomarkers, and introducing swift biomarker development to advance cancer research leadership. Biocare Medical's expanded molecular menu, coupled with its state-of-the-art automation platforms such as the ONCORE Pro X, will empower researchers to accelerate their work, expediting cancer diagnostics for improved patient outcomes at an unprecedented pace. Empire Genomics is a US-based biotechnology company.

Major companies operating in the in the biomarkers market report are Enzo Biochem Inc, Bio-Rad Laboratories Inc. , Merck KGaA, PerkinElmer Inc. , QIAGEN N. V. , Adaptive Biotechnologies Corp. , Agilent Technologies Inc. , Biocrates Life Sciences AG, BioFire Diagnostics LLC, BioReference Laboratories Inc. , Bio-Techne Corporation, Cepheid Inc. , Eurofins Scientific SE, Exact Sciences Corporation, Foundation Medicine Inc. , Genomic Health Inc. , GenScript Biotech Corporation, Guardant Health Inc. , Illumina Inc. , Invitae Corporation, Laboratory Corporation of America Holdings, Luminex Corporation, Metabolon Inc. , Myriad Genetics Inc. , Natera Inc. , Pacific Biosciences of California Inc. , Quest Diagnostics Incorporated, Roche Diagnostics Corporation, Thermo Fisher Scientific Inc. , Veracyte Inc.

North America was the largest region in the biomarkers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the biomarkers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The biomarkers market consists of sales of molecular biomarkers, cellular biomarkers or imaging biomarkers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.