Precedence Research’s latest report on the global biomarkers market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global biomarkers market size was valued at US$ 48.6 Billion in 2019 and is projected to reach US$ 137.7 Billion by 2027, rising at a market growth (CAGR) of 14.1% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for biomarkers market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Biomarker (portmanteau of biological marker) is the attribute that is accurately measured and assessed as an indicator of regular biological processes, pathogenic procedures or pharmacological reaction to a therapeutic interference. Biomarkers can be regarded as an objective action that captures what is occurring in an organism or a cell at a specific moment. Due to these attributes, biomarkers can function as early cautioning systems for the health of an individual.
Most common examples of biomarkers are elevated cholesterol levels for cardiovascular disorder and high lead level for cognitive disorders. Biomarkers play a vital role in revealing associations among human biology, environmental exposures, and illness. Researchers can use biomarkers to get a clear understanding of essential biological procedures and convert research findings into applied medical and public well-being applications. A wide variety of biomarkers are employed currently. Each biological system has its particular explicit biomarkers. Several of these biomarkers are fairly easy to measure and make up part of routine health examinations.
Factors such as high incidence of cancer, increasing focus on establishment of biomarker-based diagnostic methods, and growing number of contract research organizations are driving the growth of biomarkers market. The high incidence of chronic ailments, rapidly expanding applications of biomarkers in diagnostics, high funding for research and development in biopharmaceutical companies, increasing research and development activities in developing regions, and string product pipeline are further propelling the biomarkers market expansion across the globe. According to the World Health Organization, from the year 2010 to 2022, the United States is expected to observe high volume of new cancer cases and is anticipated to rise around 24% in males to more than 1 million cancer cases per year, and by around 21% in females to more than 900,000 cancer cases per year. In 2018, there were around 18 million cancer cases globally. Lung and breast cancers stood at the top position in cancer types worldwide, individually contributing 12.3% of the total cancer cases diagnosed in the year 2018.
Moreover, the constantly rising cases of chronic ailments such as cardiovascular disorders, diabetes, COPD, and asthma are contributing to the increased demand for biomarkers-based diagnostic approaches. As per the World Health Organization, cardiovascular disorders are the topmost cause of death worldwide. The WHO data further reveals that, four out of five cardiovascular disorder related deaths are because of stroke and heart attack.
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2019, North America dominated the global market with a market share of more than39%. U.S. represented the highest share in the North American region primarily due to high awareness regarding latest healthcare technology and presence of skilled researchers. Furthermore, high cancer incidence also contributed to the high market share of the United States.
Europe was the second important market chiefly due to existence of latest healthcare infrastructure and initiatives taken by the governments. The supportive reimbursement scenario in the European region is also expected to boost the demand for biomarkers market in the near future. Asia Pacific is anticipated to grow at the maximum CAGR of around 16.8% in the forecast period due to high incidence of chronic disorders. Latin America and the African and Middle Eastern region will display noticeable growth.
- Among the type segment, safety biomarkers dominated the overall market. Increasing use of biomarkers in the drug development as well as drug discovery domains is the major reason for high market share of safety biomarkers.
- Among the diseases, cancer accounted for the largest revenue with more than 32% share in 2019. High cancer incidence worldwide and increasing demand for early detection is the major reasons for high market share of cancer. Neurological disorders are expected to grow at the topmost CAGR during the forecast time-frame. Increasing focus on development of biomarker-based diagnostic methods for the detection of neurological conditions is the major reason for the high growth.
- Drug Discovery accounted for the largest revenue in the application segment. Use of biomarkers in the pre-clinical trials and increasing investment in research and development is the key reason for high market share of drug discovery.
- F. Hoffmann-La Roche Ltd. accounted for a significant share of the global biomarkers market.
Key Players of the global biomarkers market are:
- Bio-Rad Laboratories, Inc.
- Epigenomics AG
- Hoffmann-La Roche Ltd.
- Agilent Technologies, Inc.
- Johnson & Johnson Services, Inc.
- Thermo Fisher Scientific, Inc.
Segments Covered in the Report:
- Neurological Diseases
- Immunological Diseases
- Cardiovascular Diseases
- Personalized Medicines
- Drug Discovery & Development
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina