Tuesday, 18 June 2024

Biomarkers Industry Insights: Market Scope, Trends, and Strategic Opportunities

 


The global Biomarkers Market size is expected to reach USD 194.21 billion by 2030, registering a CAGR of 13.36% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising R&D investments by pharmaceutical and biotechnology companies, increasing number of Contract Research Organizations(CROs), and declining cost of clinical trials in emerging economies are the major driving factors for the industry. In addition, key players leverage various strategies to increase their production capabilities and promote the outreach of their product offerings. In June 2022, Paige announced its collaboration with Janssen to evaluate the potential of an (H&E)-based, (AI)-powered biomarker test, developed by Janssen, to screen for actionable FGFR3 and FGFR2 genomic alterations in patients with bladder cancer.

The increasing prevalence of chronic diseases like cancer, diabetes, and cardiovascular disorders is anticipated to fuel industry growth. According to the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases were registered in the U.S., accounting for 609,360 deaths. Breast and lung cancers were observed as the most common ones worldwide. In addition, according to a report published in 2020 by the Institute for Health Metrics and Evaluation, cardiovascular diseases cause about 18.9 million deaths annually. Increasing research focused on the identification of new diagnostic biomarkers is fueling the industry's growth. For instance, in February 2022, Japanese scientists found two new diagnostic tissue biomarkers, PHGDH and TRIM29, indicated for malignant pleural mesothelioma.

These agents can be used to diagnose mesothelioma quickly and help doctors in differentiating between mesothelioma and other cancers. Moreover, in January 2020, a nascent research study published in the Journal of Nuclear Medicine discussed the potential of several breast cancer biomarkers. A notable and easily identifiable imaging biomarker recognized in the study was 18F-FDG PET. Moreover, the COVID-19 pandemic has encouraged the use of biomarkers for facilitating the detection & treatment of the disease. For instance, in March 2021, a new biomarker-based screening device, named Tiger Tech COVID Plus Monitor, was approved by the U.S. FDA.

The device can be used for the identification of biomarkers for COVID-19 and other hypercoagulable & hyperinflammatory conditions in individuals aged 5 years & above. Furthermore, various strategic initiatives undertaken by leading participants are anticipated to cater to demand. For instance, in August 2022, Roche received the U.S. FDA approval for VENTANA MMR RxDx Panel to detect pMMR endometrial cancer patients and dMMR solid tumor patients eligible for treatment with Merck’s immunotherapy Keytruda. This approval for the VENTANA MMR RxDx Panel is a label expansion of the company’s recent on-market panel. Also, in December 2021, Siemens Healthineers partnered with Freenome to identify novel suitable markers for the detection of early breast cancer to expand its existing imaging technologies.

Related Press Release@ Biomarkers Market Report

Biomarkers Market Report Highlights

  • The safety segment held the largest revenue share of 37.62% in 2023 owing to the increased adoption of safety biomarkers in drug discovery and development
  • The efficacy biomarkers segment is expected to grow at the fastest CAGR from 2024 to 2030 due to a rise in strategic collaborations for promoting research activities
  • The drug discovery & development segment dominated the market in 2023 due to the extensive R&D efforts taken by leading participants, and the rising adoption of biomarkers in drug discovery
  • The cancer segment led the market in 2023 and is expected to retain its dominance from 2024 to 2030. . However, the neurological diseases segment is anticipated to record the fastest CAGR over the forecast years
  • Asia Pacific is anticipated to attain the fastest CAGR from 2024 to 2030 due to the rising investments by key players and increasing disease prevalence in the region

Biomarkers Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 91.52 billion

Revenue forecast in 2030

USD 194.21 billion

Growth rate

CAGR of 13.36% from 2023 to 2030

Historical data

2023

Actual data

2018 - 2022

Forecast period

2024 - 2030

 

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Biomarkers Market Segmentation

Grand View Research has segmented the global biomarkers market on the basis of on type, product, application, disease, and region:

Biomarkers Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Safety Biomarkers
  • Efficacy Biomarkers
  • Predictive Biomarkers
  • Surrogate Biomarkers
  • Pharmacodynamic Biomarkers
  • Prognostics Biomarkers
  • Validation Biomarkers

Biomarkers Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Consumable
  • Services
  • Software

Biomarkers Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Diagnostics
  • Drug Discovery & Development
  • Personalized Medicine
  • Disease Risk Assessment
  • Others

Biomarkers Disease Outlook (Revenue, USD Million, 2018 - 2030)

  • Cancer
    • Safety Biomarkers
    • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostics Biomarkers
    • Validation Biomarkers
  • Cardiovascular Diseases
    • Safety Biomarkers
    • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostics Biomarkers
    • Validation Biomarkers
  • Neurological Diseases
    • Safety Biomarkers
    • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostics Biomarkers
    • Validation Biomarkers
  • Immunological Diseases
    • Safety Biomarkers
    • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostics Biomarkers
    • Validation Biomarkers
  • Others
    • Safety Biomarkers
    • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostics Biomarkers
    • Validation Biomarkers

Biomarkers Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Denmark
    • Sweden
    • Norway
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Grand View Research, Inc
Phone: 1-415- 349-0058
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