Biomarkers Market Trends, Growth and Size Analysis By Product (Consumables, Services, Software), By Type (Safety Biomarkers, Validation Biomarkers, Efficacy Biomarkers), By Application (Diagnostics, Personalized Medicine, Drug Discovery and Development, Disease Risk Assessment) and By Disease Indication (Cancer, Neurological Disorders, Cardiovascular Disorders, Immunological Disorders, Others) – Forecast till 2027
Biomarkers Market Scope
Biomarker market can thrive at a rate of 10.28% over the review period (from 2020 to 2027), reveals MRFR (Market Research Future). MRFR also believes that the market size can touch USD 4,582.8 Million by 2027.
Major Growth Boosters and Challenges
The world is experiencing an alarming increase in chronic diseases, with diabetes, cardiovascular disorders, and cancer among the leading causes of death. These conditions are rapidly emerging on the back of inactive lifestyles as well as bad eating habits, resulting in a higher demand for effective biomarkers. The global market is subjected to frequent technical advances wherein biomarkers are increasingly being combined with novel medications as well as drugs for better and more accurate diagnosis and treatment. Biomarkers are extensively utilized in the treatment of various neurological disorders for assessing the brain health as well as activity by monitoring the biomolecules. Nascent developments like biomarker signatures have fostered the treatment success rate of numerous neurological diseases, giving way to non-invasive testing, faster diagnosis, and drug development.
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Government bodies in almost every part of the world are taking up initiatives to cut down healthcare costs through personalized medicines, to facilitate faster detection along with disease prevention. The rising government support in this aspect is bound to work in favor of the global market in the years to come. Furthermore, soaring number of distributors, manufacturers, and service providers of biomarkers, especially in developing countries, would present huge opportunities to the global industry. It is also believed that biomarkers’ surging application in the oncology field in conjunction with the soaring number of cancer cases will mean substantial revenue generation in subsequent years.
Majority of the industry participants are involved in strategic tactics like acquisitions, mergers product innovation, and carrying out awareness programs to augment their brand standing worldwide. They are also leveraging the potential of artificial intelligence, by integrating it with biomarkers to give rise to new applications and better results. For instance, in July 2021, Micronoma, a microbial cancer detection company, teamed up with the University of New South Wales (Sydney) for application of artificial intelligence in the development of microbial biomarkers that facilitate early diagnosis of liver cancer. The team will be utilizing Micronoma’s AI-backed microbial biomarker technology for detecting, validating, and translating blood-borne microbial-derived biomarkers for quicker detection of HCC.
Biomarkers Market Segmentation
Biomarkers market can be considered for product, type, application, and disease indication.
Major products listed in the MRFR study include services, consumables, and software. Extensive application of biomarkers in the neurology and oncology fields, rising focus on customizing of reagents and kits, and higher sensitivity and specificity are the factors favoring the global market.
The types of biomarkers are efficacy biomarkers, safety biomarkers, and validation biomarkers.
The top applications include diagnostics, drug discovery and development, personalized medicine, disease risk assessment, and more. A few other important applications are ecotoxicology, DNA fingerprinting, and forensics.
Disease indications can be cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others.
Biomarkers Market Regional Study
The regional segmentation of the biomarkers market covers the Americas, Europe, MEA or Middle East & Africa, and Asia Pacific or APAC.
In 2019, the lead was taken by the American market, given the region’s thriving pharmaceutical sector that generates massive demand for biomarkers. The market attractiveness is further bolstered by the burgeoning elderly patient base and the urgent need for faster detection and better treatment of age-related ailments. The disconcerting increase in cancer cases across the United States would further add to the market worth in the region.
The APAC market on the other hand, will procure the fastest CAGR between 2020 and 2027, with major support from rapidly developing countries like Australia, India, South Korea, Japan, and China. Asia Pacific is rife with attractive opportunities, considering the soaring number of contract research organizations and low costs of clinical trials. Widespread deployment of advanced medical imaging systems, surging healthcare expenditure and the exhaustive R&D activities pertaining to biomarkers should further elevate the APAC market position.
Biomarkers Market Participants
Notable vendors active in the biomarkers industry are
- Meso Scale Diagnostics LLC
- EKF Diagnostics
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
- Enzo Biochem Inc.
- Qiagen N.V.
- PerkinElmer Inc.
- Hoffmann-La Roche Ltd
- Bio-Rad Laboratories
- Merck KGaA
- Abbott Laboratories
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MOBILion Systems Inc., a reputed developer of efficient, high-resolution, and fast instrumentation for advanced biomarker diagnostics, discovery, and biotherapeutic drug characterization, has managed to receive around USD 60 million funding. This funding is just in time for the company’s launch of its first-ever commercial HRIM (High-Resolution Ion Mobility) product called MOBIE. This biomarker addresses all the issues emerging during quality monitoring and biopharmaceutical drug development. MOBIE offers easier, quicker, and a thorough analysis of several vital quality assays to facilitate biotherapeutic drug development, elevating the protein characterization ability that impacts product safety, efficacy, and quality.
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