CHICAGO, April 25,
2024 /PRNewswire/ -- Biomarkers Market in
terms of revenue was estimated to be worth $57.7 billion in 2024 and is poised to reach
$93.8 billion by 2029, growing at a
CAGR of 10.2% from 2024 to 2029 according to a new report by
MarketsandMarkets™.
The growing significance of biomarkers in drug discovery and
development, and the growing importance of companion
diagnostics are the major driving factors of the biomarkers
market. However, high capital investments and lengthy timelines for
biomarker development can hamper market growth.
Download an Illustrative overview:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=43
Browse in-depth TOC on "Biomarkers Market"
699 - Tables
53 - Figures
520 -
Pages
Biomarkers Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$57.7
billion
|
Estimated Value by
2029
|
$93.8
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 10.2%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Product & Service,
Type, Research Area, Technology, Disease Indication, Application,
and End User
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, the Middle East, and Africa
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Shift towards
personalized medicine and precision oncology
|
Key Market
Drivers
|
Increase in global
prevalence of cancer
|
The consumables segment accounted for the largest share by
product & service segment in the biomarkers market in
2023.
By product & service, the biomarkers market is categorized
into consumables, services, and software. The consumables are
further sub-segmented into assay kits, reagents & chemicals,
columns & filters. The consumables accounted for the largest
share of the global biomarkers market in 2023. The large share of
consumables is due to the necessity for high-quality products to
ensure accurate test results, coupled with the repetitive need for
these consumables due to ongoing sample testing in research and
clinical settings.
The safety biomarkers segment accounted for the largest share
by type segment in the biomarker market in 2023.
By type, the biomarkers market is categorized into safety
biomarkers, efficacy biomarkers, and validation biomarkers. The
efficacy biomarkers are sub segmented into predictive biomarkers,
surrogate biomarkers, pharmacodynamics biomarkers, and prognostic
biomarkers. The safety biomarkers segment is expected to grow at
the highest CAGR during the forecast period. This can be attributed
to their importance in ensuring the safety of pharmaceuticals and
healthcare interventions. Safety biomarkers are specifically
designed to assess the potential adverse effects, toxicity levels,
and safety profiles of drugs and treatments during clinical
trials and post-marketing surveillance.
The NGS segment is expected to grow at a higher rate during
the forecast period.
Based on technology, the biomarkers market has been segmented
into immunoassays, NGS, PCR, mass spectrometry,
chromatography, and other technologies. The immunoassay technology
is sub segmented into ELISA, western blot, and protein microarray.
In 2023, the immunoassays segment accounted for the largest share
of the biomarkers market, and the NGS segment is expected to grow
at a higher growth rate during the forecast period of 2024-2029.
The immunoassay segment's growth is driven by its extensive use in
clinical settings for diagnosing diseases, monitoring treatment
effectiveness, and predicting patient outcomes.
The cancer segment accounted for the largest share of the
disease indication segment in the biomarkers market in
2023.
Based on the disease indication, the biomarkers market is
segmented into cancer, infectious diseases, immunological
disorders, neurological disorders, cardiovascular disorders, and
other disease indications. In 2023, cancer accounted for the
largest share of the biomarkers market. The expansion of the cancer
biomarkers market is fueled by a surge in research funding
dedicated to the rising personalized drug products for cancer
treatment.
The North America region
accounted for the largest share of the biomarkers market in
2023.
The biomarkers market is segmented into North America, Europe, Asia
Pacific (APAC), Latin
America (LATAM), the Middle
East, and Africa. The
North America region is witnessing
increasing investments and research activities in the field of drug
discovery. The need for advanced therapies due to the increased
prevalence rate of cancer has contributed to the growth of the
biomarkers market.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=43
Biomarkers Market Dynamics:
Drivers:
- Increase in global prevalence of cancer
Restraints:
- Disease complexity and heterogeneity
Opportunities:
- Shift towards personalized medicine and precision oncology
Challenge:
- Challenges associated with integration of complex data
sets
Key Market Players of Biomarkers
Industry:
Key players in the biomarkers market F. Hoffmann-La Roche Ltd
(Switzerland), Merck KGaA
(Germany), Thermo Fisher
Scientific Inc. (US), Abbott (US), QIAGEN (Netherlands), Revvity (US), Laboratory
Corporation of America Holdings (US), Charles River Laboratories
(US), Bio-Rad Laboratories, Inc. (US), Eurofins Scientific
(Luxembourg), BIOMÉRIEUX (France),
Agilent Technologies, Inc. (US), JSR Corporation (Japan), Quanterix (US), MESO SCALE
DIAGNOSTICS, LLC. (US), EKF Diagnostics (UK), Celerion (US),
Standard BioTools (US), Sebia
(France), BioAgilytix Labs (US), StressMarq Biosciences Inc.
(Canada), NorthEast BioAnalytical
Laboratories LLC (US), Signosis, Inc. (US), Serimmune (US),
TheraIndx Lifesciences Pvt. Ltd. (India), Synexa Life Sciences BV (Netherlands), Diatech Pharmacogenetics
(Italy), Singulex, Inc. (US),
R-Biopharm AG (Germany), and
Proteome Sciences (UK).
The primary interviews conducted for this report can be
categorized as follows:
- By Respondent: Supply Side- 70% and Demand Side 30%
- By Designation: C-level Executives - 55%, Director-level - 20%,
and Others - 25%
- By Region: North America -45%,
Europe -20%, Asia-Pacific -20%, Latin America -10%, Middle East -3%, and Africa-2%
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=43
Recent Developments of Biomarkers Industry:
- In January 2024, Quibim and Merck
KGaA partnered to develop diagnostic tools to develop the next
generation of precision medicine technology targeting a wide range
of cancers
- In October 2023, Quanterix
Corporation, a company specializing in ultrasensitive biomarker
detection, has announced a new agreement with Johnson &
Johnson's Janssen Sciences Ireland UC to advance blood-based
Alzheimer's disease detection. The agreement grants Quanterix
non-exclusive rights to J&J's p-Tau 217 antibodies and assay
designs, enabling the development of a potential Laboratory
Developed Test (LDT) for Alzheimer's Disease (AD) diagnosis and
clinical research
- In February 2023, F. Hoffmann-La
Roche Ltd launched two new antibodies to understand a patient's
brain tumor mutation status in the IDH1 and ATRX genes that help in
more informed clinical decisions and may improve patient
outcomes
Biomarkers Market - Key Benefits of Buying the
Report:
The report will help market leaders/new entrants by providing
them with the closest approximations of the revenue numbers for the
overall biomarkers market and its subsegments. It will also help
stakeholders better understand the competitive landscape and gain
more insights to better position their business and make suitable
go-to-market strategies. This report will enable stakeholders to
understand the market's pulse and provide them with information on
the key market drivers, restraints, opportunities, and
challenges.
The report provides insights on the following
pointers:
- Analysis of key drivers (Growing significance of biomarkers in
drug discovery and development, Growing importance of companion
diagnostics, Increase in global prevalence of cancer, Growing
importance of biomarkers for rare conditions, Increase in funds and
grants for biomarker research, Advancement in omics technologies
and continuous product innovations), restraints (High capital
investments and lengthy timelines for biomarker development,
Disease complexity, and heterogeneity), opportunities (Shift
towards personalized medicine and precision oncology, Enhanced
collaboration among healthcare providers and key industry players,
Emerging economies), and challenges (Challenges associated with
quantification and validation of biomarkers, Challenges associated
integration of complex data sets, Technical issues related to
sample collection and storage) influencing the growth of the
market.
- Product Development/Innovation: Detailed insights on newly
launched products/services of the biomarkers market
- Market Development: Comprehensive information about lucrative
markets - the report analyses the market across varied
regions.
- Market Diversification: Exhaustive information about new
products/services, untapped geographies, recent developments, and
investments in the biomarkers market
- Competitive Assessment: F. Hoffmann-La Roche Ltd (Switzerland), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US),
Abbott (US), QIAGEN (Netherlands),
Revvity (US), Laboratory Corporation of America Holdings (US),
Charles River Laboratories (US), Bio-Rad Laboratories, Inc. (US),
Eurofins Scientific (Luxembourg),
BIOMÉRIEUX (France), Agilent Technologies, Inc. (US), JSR
Corporation (Japan), Quanterix
(US), MESO SCALE DIAGNOSTICS, LLC. (US), EKF Diagnostics (UK),
Celerion (US), Standard BioTools (US), Sebia (France), BioAgilytix Labs (US),
StressMarq Biosciences Inc. (Canada), NorthEast BioAnalytical Laboratories
LLC (US), Signosis, Inc. (US), Serimmune (US), TheraIndx
Lifesciences Pvt. Ltd. (India),
Synexa Life Sciences BV (Netherlands), Diatech Pharmacogenetics
(Italy), Singulex, Inc. (US),
R-Biopharm AG (Germany), and
Proteome Sciences (UK) among others in the market.
Related Reports:
Companion Diagnostics Market - Global Forecasts to
2029
Cardiac Marker Testing Market - Global Forecasts to
2028
Drug Discovery Services Market - Global Forecasts to
2028
Cancer Profiling Market- Global Forecasts to 2027
Cancer Biomarkers Market - Global Forecasts to
2026
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish
Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research
Insights: https://www.marketsandmarkets.com/ResearchInsight/biomarkers-advanced-technologies-and-global-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source:
https://www.marketsandmarkets.com/PressReleases/biomarker.asp
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/biomarkers-market-worth-93-8-billion--marketsandmarkets-302127073.html
SOURCE MarketsandMarkets