Biomarkers Industry Overview
The global biomarkers market size was valued at USD 51.18 billion in 2020 and is expected to reach USD 147.59 billion by 2028, registering at a compound annual growth rate (CAGR) of 14.2% over the forecast period.
The increasing prevalence of chronic diseases, advancements in the techniques used for the development of biomarker-based diagnostics, and the growing geriatric population are the key factors projected to boost the market growth over the forecast period. The rising number of COVID-19 cases across the globe and an increasing number of researches on the use of biomarkers for facilitating the detection & treatment of COVID-19 will also support market growth. For instance, a novel biomarker-based non-diagnostic screening device was approved by the U.S. FDA in March 2021 called Tiger Tech COVID Plus Monitor. This device is used to identify indicative biomarkers for COVID-19 and other hyperinflammatory & hypercoagulable conditions in individuals aged 5 years and above.
Gather more insights about the market drivers, restrains and growth of the Global Biomarkers Market
Recent advancements in biomarkers, such as biomarker signatures, are making neurological diseases more treatable. This has resulted in non-invasive testing, faster drug development, and early diagnosis. R&D is leading to the discovery of novel biomarkers. For instance, as per Nature Journal in 2020, tetranectin is a potential biomarker for heart failure diagnosis. Similarly, in 2020, sTNFR2 was revealed as a novel biomarker for the diagnosis of acute adult T-cell leukemia/lymphoma. The market is likely to witness lucrative growth over the forecast period due to such discoveries and technological advancements.
The use of biomarkers in infectious disease diagnosis is anticipated to become increasingly common in the coming years. For instance, as per Frontiers in Microbiology in 2020, potential MicroRNA-based biomarkers have been identified for the diagnosis of infections, such as influenza infections, rhinoviruses, HIV, tuberculosis, malaria, Ebola, and Hendra virus. These miRNA-based biomarkers are aimed at facilitating the early onset of infectious diseases.
Moreover, Amgen announced the launch of the Biomarker Assist program in April 2021 to improve access to advanced biomarker testing for non-small cell lung cancer patients. Such programs are anticipated to escalate the adoption rate of novel biomarker tests, thereby facilitating correct and on-time treatment.
A rise in the prevalence of fatal diseases has been observed over the past few years, which includes cancer, diabetes, Cardiovascular Disorders (CVDs), and other chronic diseases. One of the major factors leading to a rise in their prevalence is lifestyle changes. As per the WHO in 2019, ischemic heart disease and stroke have become the leading cause of death globally, accounting for around 8.9 million deaths globally followed by stroke and COPD.
Biomarkers Market Segmentation
Based on the Type Insights the market is segmented into Safety, Efficacy, Validation
Based on the Application Insights the market is segmented into Diagnostics, Drug Discovery & Development, Personalized Medicine, Others
Based on the Disease Insights the market is segmented into Cancer, Cardiovascular Diseases (CVDs), Neurological Diseases, Immunological Diseases, Others
Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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Market Share Insights
Key Companies Profile:
Diagnostic biomarker kits are widely used in drug development and clinical research. Innovative noninvasive techniques involving the use of biomarkers as a diagnostic tool to identify chronic diseases are expected to act as a key driver.
Some prominent players in the global biomarkers market include:
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