Share
Biomarkers Market Size, Share, and Analysis, By Type (Safety, Efficacy, and Validation), By Application (Diagnostics Development, Drug Discovery & Development, Personalized Medicine, Disease-Risk Assessment, and Others), By Product Type (Consumables, Services, and Software), By Technology (Safety Biomarkers, Efficacy Biomarkers, and Validation Biomarkers), By Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034
Biomarkers Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 13.1% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 64.3 billion and is projected to reach USD 249.6 billion by the completion of 2034.
Biomarkers are measurable indicators of biological states or conditions within an organism and serve as valuable tools in medical fields. These indicators can be genes, characteristics, or procedures that signify normal or abnormal function or the progression of a disease. Biomarkers offer important data about a person's health and are used in disease diagnosis, risk evaluation, and personalized medication. They can be found using imaging methods and in a variety of biological samples, such as blood, urine, and tissue. Thus, biomarkers are important for the development of healthcare and the improvement of patient outcomes as they allow for earlier identification and more precise diagnoses.
Biomarkers Market is projected to reach USD 249.6 billion over the forecast period, owing to growing demand for personalized medicine and a high incidence of chronic diseases. The growth of the biomarkers market is further driven by high funding in pharmaceutical and biotech research, as well as an increase in healthcare spending. Additionally, the market is expanding due to the discovery of new biomarkers in the genomics, proteomics, and metabolomics segments. These biomarkers are classified based on various criteria like safety, efficacy, and predictive biomarkers. They are used in various medical domains such as brain disorders, cancer, and heart disease. However, despite the growth potential, challenges like high development costs and strict laws and regulations exist. Thus, the biomarkers market is predicted to expand due to its use in drug development and clinical diagnostics, which highlights its importance in offering healthcare solutions.
Source: Fatpos Global
Biomarkers Market is classified based on the Type into Safety, Efficacy, and Validation. The safety segment dominates the biomarkers market as it is focused on finding biomarkers that signal possible hazards related to the development of medications and clinical trials. Safety biomarkers play an important role in verifying the safety of new treatments for patients before their approval for usage. Moreover, it helps in the early detection of adverse side effects, which is important for the safety of patients and regulatory compliance. As a result, pharmaceutical and biotechnology companies make large expenditures on safety biomarkers to reduce risks and ensure the safety of drugs. Thus, the focus on safety has fueled the growth of the safety segment, outpacing the effectiveness and validation sectors.
Biomarkers Market is divided by Product Type into Consumables, Services, and Software. The consumables segment holds the largest share in the biomarkers market as consumables are comprised of products such as test kits, reagents, and other necessary materials for conducting biomarker analysis and testing. The growth in this segment is driven by the high need for regular diagnostic tests and the requirement to restock these supplies. Also, a higher emphasis on early disease detection has boosted the growth of consumables in healthcare practices. These products play an important role in a variety of applications, such as research and drug development. Furthermore, this segment leads the biomarkers market due to the continuous need for consumables in routine medical testing and research.
Source: Fatpos Global
Rising Prevalence of Chronic Diseases is Driving Growth in the Biomarkers Market
Increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular disorders is boosting the demand for biomarkers. Biomarkers are vital for monitoring diseases, and their early detection, and offer personalized treatment procedures. As a result, healthcare practitioners are increasingly depending on biomarkers to improve the outcomes of patients and customize therapies as these disorders are diagnosed in an increasing number of people. Therefore, the market is growing due to the growing demand for accurate and reliable biomarkers, which also encourage investment in the invention of new technologies and instruments for diagnosis.
Advancements in Technology Act as a Catalyst for Market Growth
Technological breakthroughs, such as genomics, proteomics, and digital health, are helping to propel the growth of the biomarkers market. High-throughput sequencing and advanced imaging techniques are examples of innovations that improve the discovery and applications of biomarkers. These technical developments allow for more accurate and fast analysis, thus making it easier to detect biomarkers that are associated with particular diseases. Hence, as technology continues to improve, the scope and efficacy of biomarker-based diagnostics will also expand, thereby boosting the global biomarkers market.
High Costs of Development in the Market Will Impact the Growth
Developing and confirming biomarkers can be expensive as well as time-consuming. The research and clinical trials required to prove the reliability and accuracy of biomarkers demand huge financial commitment. This cost can be prohibitive for many businesses, such as smaller corporations, and limit their access to advanced biomarker tests. Furthermore, the complications of the regulatory approval procedure increase costs and delays, which can impede the fast development and commercialization of new biomarkers. These issues can hinder the introduction of new biomarkers and limit their availability, thus impacting the growth of biomarker-based diagnoses and therapies.
Biomarkers Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North American region is leading the biomarkers market due to its advanced healthcare infrastructure, large expenditure in R&D, and high prevalence of chronic diseases. The region benefits due to strong medical research facilities, along with a high level of technology adoption and massive funding for new biomarker research. Moreover, strong regulatory support and well-established healthcare systems also help in encouraging growth across the North American region.
On the contrary, Europe is expected to experience momentous growth in the upcoming decade as a result of higher investments in healthcare innovation and a growing focus on personalized medicine. European nations are strengthening their research skills and upgrading healthcare systems to simplify the development and integration of leading biomarker technologies. Furthermore, it is anticipated that positive government actions and partnerships will improve market growth in the European region.
Source: Fatpos Global
Biomarkers market has been greatly impacted by the COVID-19 epidemic. The pandemic initially increased demand for COVID-19 diagnostic biomarkers, such as assays for virus detection and immune response monitoring. However, the epidemic also caused supply chain disruptions and postponed several R&D projects. Furthermore, funding and attention were diverted from other fields of biomarker research in favor of the COVID-19 study. However, the pandemic accelerated the integration of digital health solutions and highlighted the need for prompt and accurate diagnosis. This shift is expected to promote growth and innovation in the biomarkers market, as the lessons learned from COVID-19 are influencing both present and future research.
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2034 |
|
Base Year |
2023 |
|
Forecast Period |
2024-2034 |
|
Historical Period |
2019-2022 |
|
Growth Rate |
CAGR of 13.1% from 2024-2034 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
By Type |
|
|
By Application |
|
|
By Product Type |
|
|
By Technology |
|
|
By Indication |
|
|
By Region |
|
Biomarkers Market size was valued at USD 64.3 billion in 2023 and is projected to reach the value of USD 249.6 billion in 2034, exhibiting a CAGR of 13.1% during the forecast period.
The biomarkers market encompasses the development, production, and use of biological markers—molecules, genes, or cells found in the body—that indicate health conditions or disease states.
The Safety segment and Consumables segment accounted for the largest Biomarkers Market share.
Key players in the Biomarkers Market include Thermo Fisher Scientific Inc., Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Bio-Rad Laboratories, Inc., GE Healthcare, Agilent Technologies, Inc., Illumina, Inc., Qiagen N.V., Merck KGaA, PerkinElmer, Inc., Bruker Corporation, BD (Becton, Dickinson and Company), Hologic, Inc., and Other Players.
Rising prevalence of chronic diseases and advancements in technology are the factors driving the biomarkers market.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
