Biomarkers Market Is Extrapolated To Reach A Value Of USD 147.59 Bn By 2028

Posted by rahul nikade on August 8th, 2022

Biomarkers Industry Overview

The global biomarkers market size is expected to reach USD 147.59 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 14.2% over the forecast period, which is driven by increasing collaborations & funds for R&D activities, rising consumer awareness, COVID-19 pandemic, and technological advancements in disease diagnosis. Research aids in the development of effective therapies for the treatment of various diseases, such as cancer, Cardiovascular Diseases (CVDs), immunological diseases, and neurological diseases.

Biomarkers Market Segmentation

Grand View Research has segmented the global biomarkers market based on type, application, disease, and region:

Based on the Type Insights, the market is segmented into Safety, Efficacy, Validation.

  • The safety biomarkers segment held the largest market share of more than 38% in 2020, driven by the high awareness about routine health checkups, lowered drug attrition rate, and a rise in population that is at high risk of developing various diseases, such as cancer, cardiovascular conditions, and kidney disorders.
  • The use of safety biomarkers in preclinical trials assists in the selection of drug candidates likely to be well-tolerated by humans, which thereby reduces the time and cost required for preclinical safety evaluation & drug development.
  • The validation biomarkers segment is expected to exhibit the second-fastest growth over the forecast period owing to the use of these biomarkers in the pharmaceutical sector to predict the therapeutic failure of pharmaceutical molecules with low therapeutic profiles and distinct genetic profiles.

Based on the Application Insights, the market is segmented into Diagnostics, Drug Discovery & Development, Personalized Medicine, Others.

  • The drug discovery & development segment dominated the biomarkers market in 2020 with a revenue share of more than 31.5% owing to extensive R&D initiatives for the development of targeted therapeutics, the ability to predict drug efficacy more easily, and a fast-track approval process.
  • The diagnostics segment is estimated to register the fastest CAGR over the forecast period owing to advantages in early-stage detection of disease, this creates an opportunity for the diagnostic segment to propel early diagnosis and improve the rate of diagnosis. It facilitates the detection & treatment of COVID-19.

Based on the Disease Insights, the market is segmented into Cancer, Cardiovascular Diseases (CVDs), Neurological Diseases, Immunological Diseases, Others.

  • The cancer segment held the largest market share of more than 37% in 2020, driven by a rise in demand for rapid and accurate diagnostic tools, an increase in global cancer burden, and an unmet need for more specific, personalized, therapeutic targets for cancer patients.
  • The CVD segment is anticipated to register the second-fastest CAGR over the forecast period. The use of cardiac biomarkers in patients suffering from COVID-19 with an increased risk of developing heart disease facilitates early detection and risk stratification.

Biomarkers Regional Outlook 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

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

  • F. Hoffmann-La Roche Ltd.
  • Abbott Laboratories
  • Epigenetics AG
  • General Electric
  • Johnson & Johnson Services, Inc.
  • Thermo Fisher Scientific, Inc.
  • Bio-Rad Laboratories, Inc.
  • Siemens Healthineers AG
  • Qiagen

Order a free sample PDF of the Biomarkers Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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rahul nikade

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rahul nikade
Joined: July 20th, 2022
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