CAGR: 13.5%Current Market Size: USD 66.6 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global biomarkers market is expected to grow from USD 66.6 billion in 2022 to USD 183.42 billion by 2030, at a CAGR of 13.5% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of chronic disease, which needs early diagnosis in order to prevent the patients from severe effects of diseases.
Biomarkers measure the effectiveness of a treatment for a particular condition or disease. Increasingly, biomarkers play an important role in medical monitoring, diagnosis, and treatment effectiveness, as well as the global biomarker test market is expected to grow due to the increase in cancer cases across the world. In 2021, the WCRF (World Cancer Research Fund International) estimated there were 18 million cases worldwide. The use of biomarkers in drug discovery and development is increasing because they improve drug success, reduce costs, and improve patient outcomes in the development process. A biomarker can also help predict drug efficacy more quickly than conventional clinical tests. Companies are likely to develop newer targets for cancer diagnosis as a result of an increase in the burden of cancer, ultimately leading to an increase in the demand for biomarkers. As a result of the increase in funding, researchers will be able to examine biomarkers and outcomes in the treatment of COVID-19 and other chronic diseases. Information about biomarkers has been crucial to a number of treatments for infectious diseases, which in turn has spurred market growth. Furthermore, biomarkers are used to detect disorders related to chromosome structure such as Turner syndrome, Down syndrome, Patau syndrome, Edwards’s syndrome, and others, which has led to increasing demand for biomarkers.
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Market Dynamics:
Drivers:
The growth of the biomarkers market is mainly driven by the diagnostics segment. It has been proven that biomarkers help in the early diagnosis of a disease which plays a crucial role in the early and safe treatment of the patient. Moreover, the rising cases of cancer, cardiovascular disorder, and neurological disorder globally, coupled with the demand for biomarkers accounts for a large share of the overall growth of the biomarkers market. Apart from this, the biomarkers market also gaining huge growth from the drug delivery and development segment.
Restraints:
The fact which is hampering the growth of the biomarkers market is the high capital investment associated with biomarkers. The high capital investment makes it difficult for manufacturers to cope with the rising demand for biomarkers across the world. Moreover, a lack of understanding about the use and benefits of biomarkers is also affecting the sales of the market which leads to slow growth of the market in the least developed economies.
Opportunities:
Rising cases of chronic diseases globally are creating so many opportunities for the biomarkers market to grow. Biomarkers allow early diagnosis of diseases which makes them more demandable. Moreover, the growth of the biomarkers market is largely due to the ability of biomarkers to meet specialized healthcare requirements. Biomarkers allow pharmaceutical companies to analyze and discover novel drugs due to the growing need for cost-effective and efficient treatment doses.
Challenges:
The cost associated with the validation procedure of biomarkers is quite high which is creating challenges for market growth. Moreover, the ability to develop assays doesn't keep up with the ability to generate biomarkers due to the length of time it takes to develop an assay. Moreover, companies, particularly small organizations, are concerned about the high cost of biomarker validation. A biomarker validation process is made even more challenging by factors such as inherent variability in biomarker levels and molecular heterogeneity.
Segmentation Analysis:
The global biomarkers market has been segmented based on type, disease, application, and region.
By Type
The Type segment includes efficacy biomarkers, safety biomarkers and others. The safety biomarkers segment led the largest share of the biomarkers market with a market share of around 45.2% in 2022. As a result of the increased awareness about routine health checks, lowered drug attrition rate, and a rise in people at risk of diseases, such as cancer, cardiovascular disease, and kidney disease, safety biomarkers accounted for the largest market share. Moreover, safety biomarkers can be used in preclinical trials to select drug candidates likely to be tolerated by humans, reducing time and costs for preclinical safety evaluation and drug development.
By Disease
The disease segment includes cardiovascular disorders, cancer, immunological disorders, neurological disorders and others. The cancer segment led the largest share of the biomarkers market with a market share of around 30% in 2022. Among the most widely studied disorders in the world, cancer has been the subject of constant research that has revealed the importance of using biomarkers to detect deadly diseases early. The popularity of cancer biomarkers will further be boosted by a strong product pipeline of major manufacturers developing cancer biomarkers. The rising demand for biomarkers in the diagnosis of cancer disease propels market growth.
By Application
The application segment includes drug delivery & development, diagnostics, disease risk assessment, personalized medicine and others. The diagnostics segment led the largest share of the biomarkers market with a market share of around 32% in 2022. The anticipated expansion of the diagnostics segment is due to the rising prevalence and incidence of chronic diseases, the development of market-active enterprises, the increase in clinical trial candidates, and the increasing demand for targeted treatment and diagnosis. Moreover, the requirement for biomarkers in the diagnosis of multiple diseases such as cancer, neurological disorders, and cardiovascular disorders will boost the growth of the biomarkers market.
Global Biomarkers Market- Sales Analysis.
The sale of biomarkers expanded at a CAGR of 12.1% from 2016 to 2022.
The market is primarily driven by the increased prevalence of various chronic diseases among the general population, particularly among the elderly. Additionally, the market is being driven by the growing use of biomarkers in the diagnosis of infectious diseases. A good market outlook is also being created by ongoing advancements in biomarker-based diagnostics, such as biomarker signatures that lead to quicker medication development, non-invasive testing, and early diagnosis. Accordingly, the industry is being stimulated by the quick use of biomarkers in the creation of companion diagnostics to pinpoint therapeutic target molecules. The market is being driven by the rising need for customised therapy as well as a paradigm change away from traditional pathophysiology and epidemiology methodologies and toward biomarker studies.
With the worsening cancer situation, biomarkers are increasingly used in illness monitoring, diagnosis, and treatment efficacy in the clinical setting. As a result, the global biomarker test market is expected to grow. Huge investments are made by major key players in the research and development of biomarkers. Researchers will be able to study biomarkers and outcomes in people with COVID-19 and other chronic diseases with the increase in funding. Additionally, a significant increase in the number of contract research businesses that enable affordable clinical trials is fostering a favourable outlook for the market. Extensive research and development (R&D) activities and rising medical costs are a couple of the major factors influencing the industry.
Thus, owing to the aforementioned factors, the global biomarkers market is expected to grow at a CAGR of 13.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the biomarkers market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the biomarkers market and held a 38.5% share of the market revenue in 2022.
Global Biomarkers Market- Country Analysis:
Germany's biomarkers market size was valued at USD 5.14 billion in 2022 and is expected to reach USD 14.25 billion by 2030, at a CAGR of 13.6% from 2023 to 2030.
It is expected that the market will grow due to increasing collaborations between universities and biomarker solution providers, as well as the presence of prominent research institutes and market players in the country. The rapid growth in biomarker testing is expected to boost healthcare services and boost the market in the country.
China’s biomarkers market size was valued at USD 5.35 billion in 2022 and is expected to reach USD 15.15 billion by 2030, at a CAGR of 13.9% from 2023 to 2030.
The country's revenue is increasing due to increasing demand for disease diagnosis, particularly using biomarker-based tests. Currently, there are 203 million cardiovascular disease patients in China, with a 73.0% increase by 2029, increasing the demand for biomarkers in the country.
India's biomarkers market size was valued at USD 4.12 billion in 2022 and is expected to reach USD 11.5 billion by 2030, at a CAGR of 13.7% from 2023 to 2030.
As the use of biomarkers in medication discovery and development increases, key market participants are investing in the research to create new biomarkers, thereby promoting growth in the biomarker market. Moreover, it is expected that biomarkers will be in high demand in the near future due to the increasing incidence of cancers and cardiovascular diseases in the country.
Key Industry Players Analysis:
To increase their market position in the global biomarkers business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
13.5% |
Market Size |
66.6 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Disease, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Agilent Technologies, Inc., LifeSign LLC, QIAGEN, F. Hoffmann-La Roche Ltd, Enzo Biochem Inc., Merck KGaA, Cisbio Bioassays, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc, Johnson & Johnson Services, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare Private Limited, Abbott, and General Electric Company. |
By Type |
|
By Disease |
|
By Application |
|
Regional scope |
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Scope of the Report
Global Biomarkers Market By Type:
Global Biomarkers Market By Disease:
Global Biomarkers Market By Application:
Global Biomarkers Market By Region:
Global Biomarkers market is expected to reach USD 183.42 billion by 2030, at a CAGR of 13.5% from 2023 to 2030.
Rising demand for biomarkers for the early diagnosis of diseases and rising cases of chronic diseases will propel the market's growth.
North American region will witness more biomarkers market growth.
Agilent Technologies, Inc., LifeSign LLC, QIAGEN, F. Hoffmann-La Roche Ltd, Enzo Biochem Inc., Merck KGaA, Cisbio Bioassays, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc, Johnson & Johnson Services, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare Private Limited, Abbott, General Electric among others.
Political Factors- The profitability of the biomarkers market will be directly impacted by its entry into high-tax countries. High taxes impede exports and have an impact on global trade. biomarkers market can enter markets with low tax rates and gain substantial earnings that can be used to fund R&D projects. To understand the priorities and interest of the host government in emerging industries, the organisation may also investigate the taxation rules that are relevant to the industry. High trade barriers can further complicate the economic climate by hurting exports and ties with overseas trading partners. Additionally, if the government of the nation under examination does not take seriously its responsibility to safeguard the intellectual property rights of commercial firms.
Economical Factors- The ability of the biomarkers market to implement its long-term growth goals will depend on the GDP growth rate. A high GDP also indicates that consumers are able to spend more money on the goods being offered. The availability of surplus labour at relatively lower salaries is indicated by high unemployment. biomarkers market can reduce its production costs by operating in such a market. The interest rate and how it affects borrowing capacity and investment mindset should also be carefully taken into account by the company. The high interest rate will promote an investment-friendly mindset and broaden Abbott Laboratories' potential for growth. Finally, the profitability and global trade can both be impacted by exchange rate fluctuations. For Abbott Laboratories, the high local currency fluctuation may be a major source of worry.
Social Factor- For markets like the biomarkers market, changes in demographic trends including population ageing, migration patterns, and socioeconomic factors are of utmost relevance. The proper market segment or segments with significant growth potential can be selected by the biomarkers market by carefully examining the demographic parameters. Migration has an impact on business and marketing strategy as well. Understanding the overall attitude of the populace toward migration is crucial for the biomarker market since it might affect the ability of businesses to hire foreign management in the host nation. Any society's acceptance of hierarchy and income disparity can be seen in the power distance. When entering markets with a high or low power distance, the biomarkers market must modify its business management procedures.
Technological Factors- To keep ahead of the competition, the biomarkers market should carefully analyse the ongoing technical developments. The potential for the 5G to improve business outcomes through improved user experience, better speed, and increased access should be closely monitored. Such technological advancements have the power to fundamentally alter a sector and rewrite the guidelines for market participants' success. Additionally, it's crucial to take into account the technology's state of development and maturity in the relevant industry. By concentrating on newly developed technological advancements, the biomarkers market can expand its market share by entering markets where technology development has not yet reached maturity.
Environmental Factors- The use of green/eco-friendly items is becoming more popular. biomarkers market can seize the chance and implement green business strategies to gain the confidence of stakeholders. Priorities for product innovation are changing as a result of regulatory organisations' emphasis on ensuring conformity with environmental standards. biomarkers market must put environmental friendliness ahead of traditional value propositions in their marketing strategy. biomarkers market may face criticism from the media, environmental organisations, customers, and the general public if it consistently depletes its resources. In order to determine which resources (such as water, power, etc.) are rare or which species are threatened with extinction due to overuse, the biomarkers market must research the country's specific environmental rules.
Legal Factors- As certain nations have severe requirements to protect labour safety, the biomarker market must abide by the employee/labor health and safety standards. The ethical and moral responsibility of the biomarker market is to provide a safe working environment for its employees. In a similar vein, anti-discrimination laws (such as equal employment opportunity laws) also need to be carefully considered when developing human resource practises as discriminatory lawsuits against employers harm the organisational image and affect organisations' capacity to attract and retain talent. The privacy and security concerns of consumers have made data protection a crucial issue. To protect consumer data, the biomarkers market must research data protection laws. Laws are also in place to limit prices, guarantee a particular level of quality, and shield customers from deceptive marketing promises.
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