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The global biomarkers market size is estimated to grow by USD 87.96 billion at a CAGR of 16.83% between 2023 and 2028. The market's growth is driven by factors such as the increasing prevalence of heart diseases, advancements in genomics and proteomics, and a growing focus on biomarker-based diagnostic methods. These trends highlight the demand for innovative diagnostic solutions to enhance patient care and outcomes. As heart diseases remain a leading cause of mortality globally, the market is poised for significant expansion. Efforts to leverage genomics and proteomics for personalized medicine and the development of advanced biomarkers further underscore the market's growth potential. Additionally, collaborations between healthcare providers and technology companies are likely to accelerate the adoption of these solutions, shaping the future of cardiac diagnostics.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Abbott Laboratories - The company offers biomarkers such as proprietary assays for cardiovascular health, infectious diseases, and oncology, providing advanced diagnostic solutions for personalized patient care and precision medicine.
Abbott Laboratories, Abcam plc, Agilent Technologies Inc., Becton Dickinson and Co., BG Medicine Inc., Bio Techne Corp., CENTOGENE NV, Charles River Laboratories International Inc., DiaSorin Spa, EKF Diagnostics Holdings Plc, Eurofins Scientific SE, F. Hoffmann La Roche Ltd., General Electric Co., Merck KGaA, Meso Scale Diagnostics LLC, Nexus Dx Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, and Thermo Fisher Scientific Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the safety segment will be significant during the forecast period. The Biomarkers Market encompasses various applications, including cancer, companion diagnostics, and research investments. In the field of oncology, biomarkers play a crucial role in diagnosing and monitoring diseases such as prostate and lung cancer.
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The safety segment was valued at USD 23.74 billion in 2018. NeoGenomics, ImmunoGen, Amgen, and Roche are some key players driving product innovations and biomarker advancements. Biomarkers are essential for identifying fatal diseases and predicting toxicity from environmental exposures or medical interventions. Safety biomarkers, such as sTNFR2 and granulocyte count, signal potential harm and enable dose modification or treatment interruption. Research in this area is ongoing, with publications in prestigious journals like Nature and The Lancet. Efficacy, safety, and validation biomarkers are essential for personalized medicine, addressing cardiac problems, and diagnosing infectious diseases. Funds and grants support research in this sector, with emerging economies increasingly investing in in vitro diagnostics, services, software, and consumables. Unhealthy lifestyle factors, such as smoking and unhealthy food habits, contribute to the need for biomarkers in cardiovascular diseases and other conditions. Digital biomarkers and neoantigens are emerging areas of interest, with Tetranectin and SSI Strategy leading the way. Infectious disease diagnosis and neurological diseases also benefit from biomarker research. Overall, the Biomarkers Market is a dynamic and evolving field, driven by the need for early disease detection, personalized medicine, and improved patient outcomes. Thus, the various benefits of safety biomarkers are expected to increase their use, which will further drive the growth of the safety biomarkers segment in the market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The US accounted for the largest market share in North America. The market encompasses various segments, including neurological disorders, immunological disorders, and cardiovascular disorders. The use of biomarkers in disease risk assessment, drug discovery, and diagnostics is significant in identifying the disease's physiological state. Molecular markers, such as active genes, protein products, and organic compounds, play a crucial role in early detection and disease progression. Neurological disorders, immunological disorders, and cardiovascular disorders are prevalent chronic ailments. In the US, six out of ten adults have a chronic disease, and four out of ten adults have two or more chronic conditions. Biomarkers are essential in screening individuals at risk and detecting diseases in their evolving stages.
Biomarkers have applications in various sectors, including healthcare infrastructure and the biopharmaceutical sector. Cancer, a major disease area, benefits from non-invasive examinations and successful treatment through biomarkers. Contract research organizations also utilize biomarkers in safety biomarkers and disease-specific segments. The cardiovascular disorders segment is a substantial market for biomarkers due to the high prevalence of heart diseases. The neurological diseases segment also holds significance due to the increasing number of neurological disorders, such as Alzheimer's and Parkinson's diseases. Companies in the biomarkers market include those specializing in cancer biomarkers, such as Myriad Genetics and Quest Diagnostics. Other companies focus on immunological and neurological disorders, like F. Hoffmann-La Roche and Abbott Laboratories. Biomarkers play a vital role in identifying the cell's regular state and cancerous state, enabling efficient and precise disease management. Such factors will drive the growth of the market in North America during the forecast period.
The market encompasses the development, production, and application of various molecular indicators for the diagnosis and monitoring of several fatal diseases, including cancer, neurological diseases, cardiac problems, and infectious diseases. Research investments in this field are significant due to the potential for early detection and personalized treatment plans based on a patient's physiological state, active genes, and protein products. Cancer, particularly prostate and lung cancer, is a primary focus area for biomarker advancements. Smoking, unhealthy food habits, and physical inactivity are leading risk factors for these diseases, making early detection crucial. Biomarkers, such as organic compounds and molecular markers, play a vital role in identifying the presence and progression of these conditions. Innovations in biomarker technology are driving the market forward, with a growing emphasis on improving accuracy and specificity. These advancements have the potential to revolutionize the diagnosis and treatment of various diseases, ultimately improving patient outcomes and reducing healthcare costs. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of heart diseases is notably driving market growth. The Biomarkers Market is experiencing growth due to the increasing prevalence of various fatal diseases, such as heart failure, cancer, and neurological diseases. Heart failure is diagnosed using biomarkers like natriuretic peptides and C-reactive protein. Heart disease, a leading cause of death, contributes significantly to this market's expansion. Biomarkers play a crucial role in companion diagnostics, personalized medicine, and research investments in areas like prostate and bowel cancer, lung cancer, and infectious disease diagnosis. Key players in the market include Amgen, ImmunoGen, Roche, and NeoGenomics. Advancements in biomarker technology, such as digital biomarkers and Tetranectin, are driving product innovations. Factors like smoking, unhealthy food habits, and physical inactivity contribute to the rise in cardiovascular diseases and the demand for biomarkers. The market encompasses consumables, services, software, and various types of biomarkers, including efficacy, safety, and validation biomarkers. In vitro diagnostics and emerging economies are also significant contributors to the market's growth. (Sources: PLOS Journal, Nature Journal, The Lancet, SSI Strategy) Such factors are expected to increase the demand for cardiac biomarkers, which will further fuel the growth of the market during the forecast period.
The growing number of research and development programs and new product launches is a key trend shaping the market. The Biomarkers Market is experiencing significant growth due to increased research investments and new product launches. For instance, the BC-116 biomarker panel, which aids in the detection of primary Bladder Cancer, has shown promising results with a sensitivity of 89% and specificity of 67%. In the field of cancer, companion diagnostics are gaining importance, with companies like Amgen and Roche leading the way. Neurological diseases, such as Familial Frontotemporal Degeneration (FTD), are also being targeted for early detection through biomarker research.
Digital biomarkers are emerging in various domains, including cardiac problems and lung cancer. Product innovations in the biomarkers space are driven by advancements in areas like Tetranectin for heart failure and sTNFR2 for inflammatory conditions. Factors like smoking, unhealthy food habits, and physical inactivity contribute to the rising prevalence of fatal diseases, necessitating the development of efficacy, safety, and validation biomarkers. In vitro diagnostics, services, software, and consumables are essential components of the biomarkers market. Emerging economies are expected to contribute significantly to the growth of the market, particularly in the areas of cardiovascular diseases and infectious diseases. The Lancet and other reputed journals, such as PLOS and Nature, regularly publish research on biomarkers, further fueling market growth. Funds and grants from organizations like the Foundation for the National Institutes of Health (FNIH) are also driving product innovations in this space. ImmunoGen and NeoGenomics are some of the key players in the biomarkers market. Thus, the growing number of R&D programs and new product launches are expected to boost the growth of the market during the market growth analysis period.
The high cost associated with developing and validating biomarker tests and infrastructure is challenging market growth. The Biomarkers Market faces significant challenges due to the substantial investments required for infrastructure, equipment, and skilled personnel. Advanced technologies and specialized instrumentation are crucial for performing biomarker assays with high sensitivity and accuracy, but these demands can be prohibitive for smaller institutions and healthcare facilities. Additionally, the costs associated with biomarker discovery, validation, and commercialization can be substantial, limiting progress, especially in emerging economies. Despite advancements leading to companion diagnostics and improved disease monitoring, the high costs of research and infrastructure remain key hurdles in the biomarkers market's development. These factors will support market growth during the market growth and forecasting period.
The market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Biomarkers Market is a significant sector in the healthcare industry, driven by the increasing demand for early disease diagnosis and personalized treatment. Cancer, diabetes, neurological disorders, and cardiac diseases are some of the major applications of biomarkers. The discovery and development of new biomarkers are crucial in the diagnosis and treatment of various diseases. Companies are investing in research and development to expand their product portfolios and cater to the growing demand for biomarkers. Diagnostics companies, pharmaceutical companies, and biotechnology companies are the major players in the biomarkers market. Protacs, monoclonal antibodies, and microRNAs are some of the emerging technologies used in the development of biomarkers. The use of biomarkers in disease diagnosis and treatment is a game-changer in the healthcare industry. Functions such as protein-protein interactions, gene expression, and metabolic pathways are studied to identify potential biomarkers. In the field of cancer diagnostics, researchers are studying the differences between a regular cell and a cancerous cell, particularly in diseases like prostate cancer.
Furthermore, the market for biomarkers is expected to grow significantly due to the increasing prevalence of chronic diseases and the growing awareness of personalized medicine. The development of sensitive and specific assays for biomarker detection is a key challenge in the biomarkers market. Producers of biomarkers must ensure the accuracy and reliability of their assays to meet the demands of healthcare providers and patients. The use of advanced technologies such as mass spectrometry, ELISA, and PCR-based assays is helping to address this challenge. In summary, the biomarkers market is a dynamic and growing sector in the healthcare industry, driven by the increasing demand for early disease diagnosis and personalized treatment. Companies are investing in research and development to expand their product portfolios and cater to the growing demand for biomarkers. The use of advanced technologies and the development of sensitive and specific assays for biomarker detection are key challenges in the biomarkers market.
Biomarkers Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.83% |
Market growth 2024-2028 |
USD 87.96 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
14.01 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Abcam plc, Agilent Technologies Inc., Becton Dickinson and Co., BG Medicine Inc., Bio Techne Corp., CENTOGENE NV, Charles River Laboratories International Inc., DiaSorin Spa, EKF Diagnostics Holdings Plc, Eurofins Scientific SE, F. Hoffmann La Roche Ltd., General Electric Co., Merck KGaA, Meso Scale Diagnostics LLC, Nexus Dx Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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