The global biomarkers market was valued at USD 46.4 billion in 2019 and is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the high occurrence of life-threatening diseases such as cancer and tumors and growing investment in the research and study initiatives.
Biomarkers are measurements for the performance of clinical assessments such as cholesterol levels or blood pressure. Biomarkers can also be used to monitor, predict and study health states in patients or individuals in general for the accurate therapeutic treatments. Every biological system from the metabolic system, cardiovascular system to the immune system has their own specific biomarkers. Most of these biomarkers can be measured relatively easily and can be studied separately to find treatment plans and hygiene. For instance, a patient who wants to undergo a health checkup can include heart rate measurement, triglycerides, fasting glucose levels, blood pressure, and cholesterol. Different measurements such as the body mass index or BMI to evaluate the weight of the patient and waist-to-hip ratio are used for the treatment of diseases such as obesity.
World Health Organization (WHO) conducted a survey in 2018 regarding the immune to disease system and found that 60% of the burden of diseases are likely to be chronic in nature. This contributes heavily to the global biomarkers market. The COVID-19 pandemic has reduced the growth of the global biomarkers market initially. However, upon further studies, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts. Basically, a patient of blood pressure or cholesterol was more susceptible to the COVID-19 virus than that of a healthy person. This steered to hospitals, clinics, and healthcare laboratories to focus more on biomarkers for the prevention and treatment of diseases and this led to its market growth. Biomarkers are the key indicators that provide certain characteristics for checking disease conditions or identification of diseases infection. Biomarkers are considered to be easy and safe to measure, cost efficient, and modifiable with the required treatments.
Market Trends, Drivers, Restraints, and Opportunities
- The major driver for the global biomarkers market is the extensive research combined with the technological advancements being utilized for development for clinics and healthcare centers related to biomarker diagnostics.
- Surge in chronic diseases such as cancer, cardiovascular disorders, and diabetes in a global scale because of unhealthy diet, lack of exercise, and sedentary lifestyle are projected to boost the market.
- Wide applications for various medical research and rising investment for researchers to conduct novel studies for advanced treatment options and further precise diagnosis are acting as major drivers for the global biomarkers market.
- Expensive research process and lack of advanced healthcare facilities for the development of studies related to biomarkers especially in developing regions are key challenges that can hamper the market growth.
- Biomarker signatures and other nascent developments have significantly increased the rate of treatment for both neurological and cardiovascular diseases, which result in the early diagnosis, rapid drug treatment, and non-invasive testing. This can offer several opportunities for the market expansion.
Scope of the Report
The report on the global biomarkers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Biomarkers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Safety, Efficacy, and Validation), Application Areas (Diagnostic, Drug Development, Personalized Medicine, and Others), and Diseases (Cancer, Cardiovascular Diseases, Neurological Diseases, Immunological Diseases, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott Laboratories; Qiagen; F. Hoffmann-La Roche AG; Thermo Fisher Scientific, Inc; Siemens Healthcare Private Limited; Agilent Technologies, Inc; Bio-Rad Laboratories, Inc; Johnson & Johnson Services, Inc; and Epigenomics AG
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Global Biomarkers Market Segment Insights
Safety biomarkers to constitute a large market share
On the basis of types, the global biomarkers market is segmented into safety, efficacy, and validation. The safety segment is expected to constitute a large market share in the coming years owing to the rapid increase in usage and adoption of the product drug discovery within the development sector. The safety biomarker finds applications in various premedical trials for the selection of candidates displaying tolerance towards the drug. These processes and studies carry a number of advantages such as reduction of both cost and time, thereby, increasing efficiency and safety to use from the drug development perspective.
On the other hand, the validation segment is anticipated to register a high CAGR during the forecast period owing to the extensive application of product type in the pharmaceutical industry. The validation biomarkers also help in the prediction of therapeutic failures by identifying the non-responders with specific distinct genetic profiles.
Drug development segment to hold a key share
Based on application areas, the market is divided into diagnostic, drug development, personalized medicine, and others. The drug development is projected to hold a large market share in the coming years since the drug manufacturing companies are completely focused on the extensive research and development initiatives used for the creation of targeted therapeutics. However, the personalized medicines segment is anticipated to show a high CAGR in the global biomarkers market due to the increasing consumer awareness of personalized medicine and wide adoption of medicines.
Cancer segment is anticipated to exhibit a robust CAGR
Based on diseases, the global biomarkers market is segmented into cancer, cardiovascular diseases, neurological diseases, immunological diseases and others. The cancer segment is anticipated to exhibit a robust CAGR during the forecast period owing to the increasing demand for rapid and accurate diagnostic tools along with the sharp growth of requirements on the global scale. Growing considerable demand for various personalized medicines and increasing adoption of strategic alliances between pharmaceutical and diagnostic companies for cancer treatment devices are expected to propel the segment growth. On the other hand, the cardiovascular disease segment is anticipated to expand at a substantial CAGR during the forecast period owing to wide conduction of successful research studies and diagnostics done in this field.
North America is anticipated to dominate the market
In terms of regions, the market is classified as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America held over 35.4% of the global biomarker market revenue share in 2020 and is anticipated to continue its domination in the market in the coming years. The regional market growth is driven by the increasing disease burden coupled with proactive Government initiatives. Moreover, the presence of major market players and favorable regulatory policies from government bodies present key factors driving the regional market growth. However, the market in Asia Pacific is projected to register a lucrative CAGR during the forecast period, 2021-2028. Some factors fueling the regional market growth includes the strategic initiatives taken several regional governments for the co-development of products, rising research and development investments, and reduction of cost in trials.
Segments
Segments Covered in the Report
The global biomarkers market has been segmented in terms of
Types
- Safety
- Efficacy
- Validation
Application Areas
- Diagnostic
- Drug Development
- Personalized Medicine
- Others
Diseases
- Cancer
- Cardiovascular Diseases
- Neurological Diseases
- Immunological Diseases
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Some of the major players in the global biomarkers market are Abbott Laboratories; Qiagen; F. Hoffmann-La Roche AG; Thermo Fisher Scientific, Inc; Siemens Healthcare Private Limited; Agilent Technologies, Inc; Bio-Rad Laboratories, Inc; Johnson & Johnson Services, Inc; and Epigenomics AG. Most of these players are currently engaged in strategic initiatives including mergers & acquisitions, promoting awareness, and new product development to increase their market position. F. Hoffmann-La Roche AG, in 2017, received the approval from the US Food and Drug Administration or the FDA for the biomarker assay designated for bladder cancer.
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