Biomarkers Market Report 2023: Increase in Funds and Grants for Biomarker Research Bolsters Sector

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Mar 15, 2023, 19:15 ET

DUBLIN, March 15, 2023 /PRNewswire/ -- The "Biomarkers Market by Product & Service (Consumable, Service, Software), Type (Safety, Efficacy, Validation), Disease (Cancer, Infectious, Neurological), Application (Diagnostics, Drug Discovery, Personalized Medicine), Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global biomarkers market is expected to reach USD 104.0 billion in 2028 from USD 59.1 billion in 2023 at a CARG of 12.0%.

Factors responsible for the growth in the biomarkers market are mainly factors such as the growing importance of diagnostics, increasing prevalence of cancer and cardiac problems, increasing funds & grants for biomarker research, continuous product innovations, and biomarker advancements. However, factors such as the time-consuming process of biomarker validation, high cost, and difficulty in developing assays are hampering the growth of the market.

During the forecast period, the cancer segment of by disease indications segment accounted for the largest growing segment of the biomarkers market.

Based on disease indication, the biomarkers market is divided into infectious diseases, neurological disorders, immunological disorders, cancer, cardiovascular disorders, and other disease indications. During the forecast period (2023-2028), the cancer segment is expected to be the fastest-growing segment in the biomarkers market. In the future, cancer biomarkers are expected to be further boosted by a strong pipeline of products from major manufacturers related to cancer biomarkers. Factors responsible for the high growth of the segment include early management and early detection by cancer biomarkers.

In 2022, by application, the diagnostics segment accounted for the biggest share of the biomarkers market.

Based on application, the biomarkers market is divided into drug discovery & development, personalized medicine, diagnostics, disease risk assessment, and other applications. In 2022, the diagnostics segment accounted for the largest share of the application segment in the biomarkers market. Factors responsible for the growth in this segment include, the segment will expand as chronic diseases will become more prevalent, and targeted treatment and diagnosis demand will increase. The growing applications of biomarkers is also driving the growth of the diagnostics segment of the biomarkers market.

In 2022, North America accounted for the largest share of the biomarkers market.

In 2022, North America accounted for the largest share of the market. Factors responsible for the growth of the region include the increasing population suffering from chronic diseases in the region, increasing use of biomarkers in personalized medicine, various organic & inorganic growth strategies adopted by key players with established pharmaceutical companies in this region, and increasing applications and advancements in biomarkers. Additionally, the regional government is also focusing on identifying biomarkers for rare neurodegenerative diseases, which will create new opportunities for the market.

Research Coverage:

The report segments the biomarkers market based on region (Asia Pacific, Europe, North America, and the Rest of the World), product (consumables services, software), type (safety biomarkers, efficacy biomarkers [predictive biomarkers, surrogate biomarkers, pharmacodynamics biomarkers, prognostic biomarkers], and validation biomarkers, application (diagnostics, drug discovery & development
personalized medicine, disease risk assessment and other applications), and disease indications (cancer, infectious diseases, immunological disorders, neurological disorders, cardiovascular disorders, and other disease indications). The report also provides a comprehensive review of market drivers, restraints opportunities, challenges and trends in the biomarkers market.

Market Dynamics

Market Drivers

Growing Importance of Companion Diagnostics
Increase in Global Prevalence of Cancer
Increase in Funds and Grants for Biomarker Research
Continuous Product Innovations

Restraints

High Capital Investments and Lengthy Timelines for Biomarker Development

Opportunities

Personalized Medicine
Emerging Economies

Challenges

Challenges Associated with Biomarker Validation
Technical Issues Related to Sample Collection and Storage

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Biomarkers Market, by Product & Service

7 Biomarkers Market, by Type

8 Biomarkers Market, by Disease Indication

9 Biomarkers Market, by Application

10 Biomarkers Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned

Abbott Laboratories
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Bioagilytix Labs
Biomerieux Sa
Celerion
Charles River Laboratories International, Inc.
Cisbio Bioassays
Diametra
EKF Diagnostics Holdings, plc
Enzo Biochem, Inc.
Eurofins Scientific
F. Hoffmann-La Roche Ltd.
Johnson & Johnson
JSR Life Sciences, LLC
Merck KGaA
Meso Scale Diagnostics, LLC
Microconstants, Inc.
Northeast Bioanalytical Laboratories LLC.
Perkinelmer, Inc.
Qiagen N.V.
Signosis, Inc.
Singulex, Inc.
Stressmarq Biosciences Inc.
Thermo Fisher Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/dyjd5w

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