Biomarkers Market is Expected to Reach $93.8 billion | MarketsandMarkets™

Chicago, May 14, 2024 (GLOBE NEWSWIRE) — Biomarkers market in terms of revenue was estimated to be worth $57.7 billion in 2024 and is poised to reach $93.8 billion by 2029, growing at a CAGR of 10.2% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.

Factors such as an increase in funds and grants for biomarker research, advancements in omics technologies, and continuous product innovations are driving the growth of the biomarkers market.

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Biomarkers Market Scope:

Report Coverage Details
Market Revenue in 2024 $57.7 billion
Estimated Value by 2029 $93.8 billion
Growth Rate Poised to grow at a CAGR of 10.2%
Market Size Available for 2022–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product & Service, Type, Research Area, Technology, Disease Indication, Application, and End User
Geographies Covered North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Shift towards personalized medicine and precision oncology
Key Market Driver Increase in global prevalence of cancer

Based on product & service, the biomarkers market is segmented into consumables, services, and software. The consumables segment is further sub-segmented into assay kits, reagents & chemicals, columns & filters. The consumables accounted for the largest share of the global biomarkers market in 2023. The large share of this segment can primarily be attributed to the consistent demand for reagents, assay kits, and other disposable laboratory supplies essential for biomarker analysis and diagnostics.

Based on type, the biomarkers market is segmented into safety, efficacy, and validation biomarkers. The efficacy biomarkers are sub segmented into predictive biomarkers, surrogate biomarkers, pharmacodynamics biomarkers, and prognostic biomarkers. In 2023, safety biomarkers accounted for the largest share of the biomarkers market. The large share of this segment can be attributed to its potential to assess adverse effects and toxicity levels of drugs during clinical trials, which is a regulatory requirement for ensuring patient well-being.

Based on research area, the biomarkers market is segmented into genomics, proteomics, metabolomics, and other research area. In 2023, genomics accounted for the largest share of the biomarkers market due to recent advancements in next-generation sequencing (NGS), microarray technology, PCR technologies flow cytometry, and bioinformatics have hastened the pace of biomarker discovery and profiling.

Based on technology, the biomarkers market is segmented into immunoassays, NGS, PCR, mass spectrometry, chromatography, and other technologies. The immunoassay technology is sub segmented into ELISA, western blot, and protein microarray. In 2023, immunoassays accounted for the largest share of the biomarkers market due to the advancements in assay sensitivity and specificity, expanding clinical applications, rising demand for point-of-care testing, and innovations in multiplexing.

Based on application, the biomarkers market has been segmented into clinical diagnostics, drug discovery & development, personalized medicines, clinical research, and other applications. In 2023, the clinical diagnostics segment accounted for the largest market share owing to increasing demand for advanced drug products for the treatment of chronic and rare diseases.

Based on disease indication, the biomarkers market has been segmented into cancer, infectious diseases, cardiovascular disorders, immunological disorders, neurological disorders, and other disease indications. In 2023, the cancer segment accounted for the largest market share. Biomarkers play a crucial role in various aspects of cancer management, including screening, diagnosis, staging, prognosis prediction, treatment selection, and monitoring of treatment response. The wide range of applications for cancer biomarkers contributes to their substantial market share within the biomarkers market.

Based on end user, the biomarkers market has been segmented into pharmaceutical & biotechnologies companies, hospitals & diagnostics laboratories, research & academic institutes, and other end users. In 2023, pharmaceutical & biotechnologies companies accounted for the largest share of the biomarkers market. The large share of this segment is due to the increasing use of biomarkers research in multiple diseases, including cancer, infectious diseases, cardiovascular disorders, and neurological disorders in pharmaceutical & biotechnologies companies.

The key regional markets for the global biomarkers market are North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2023, North America accounted for the largest share of the market. The large share of this region can be attributed to the rising prevalence of chronic diseases, rising government support for the discovery & development of disease biomarkers, growing demand for personalized medicine, rising adoption of advanced omics technologies for biomarker discovery, abundant infrastructure, and the presence of leading key players in the region. However, the Asia Pacific is expected to be the fastest-growing regional market during the forecast period. Factors such as the increasing pharmaceutical research funding and rising investments by pharmaceutical & biotechnology companies in developing advanced diagnostic kits and assays to drive the growth of the biomarkers market in Asia Pacific.

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Prominent Players of Biomarkers Market

  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Merck KGaA (Germany)
  • Thermo Fisher Scientific Inc. (US)
  • Abbott (US)
  • QIAGEN (Netherlands)
  • Revvity (US)
  • Laboratory Corporation of America Holdings (US)
  • Charles River Laboratories (US)
  • Bio-Rad Laboratories, Inc. (US)
  • Eurofins Scientific (Luxembourg)
  • BIOMÉRIEUX (France)
  • Agilent Technologies, Inc. (US)
  • JSR Corporation (Japan)
  • Quanterix (US)
  • MESO SCALE DIAGNOSTICS, LLC. (US)
  • EKF Diagnostics (UK)
  • Celerion (US)
  • Standard BioTools (US)
  • Sebia (France)
  • BioAgilytix Labs (US)
  • StressMarq Biosciences Inc. (Canada)
  • NorthEast BioAnalytical Laboratories LLC (US)
  • Signosis, Inc. (US)
  • Serimmune (US)
  • TheraIndx Lifesciences Pvt. Ltd. (India)
  • Synexa Life Sciences BV (Netherlands)
  • Diatech Pharmacogenetics (Italy)
  • Singulex, Inc. (US)
  • R-Biopharm AG (Germany)
  • Proteome Sciences (UK)
  • and Among others

This report categorizes the biomarkers market into the following segments:

Biomarkers market, by Product & Service

  • Consumables
    • Assays Kits
    • Reagents & Chemicals
    • Columns & Filters
  • Services
  • Software

Biomarkers Market, by Type

  • Safety Biomarkers
  • Efficacy Biomarkers
    • Predictive Biomarkers
    • Surrogate Biomarkers
    • Pharmacodynamic Biomarkers
    • Prognostic Biomarkers
  • Validation Biomarkers

Biomarkers Market, by Research Area

  • Genomics
  • Proteomics
  • Metabolomics
  • Other research areas

Biomarkers Market, by Technology

  • Immunoassays
    • ELISA
    • Western Blot
    • Protein Microarray
  • PCR
  • Mass Spectrometry
  • NGS
  • Chromatography
  • Other technologies

Biomarkers Market, by Disease Indication

  • Cancer
  • Infectious Disease
  • Immunological Disorder
  • Cardiovascular Disorder
  • Other Disease Indications

Biomarkers Market, by Application

  • Clinical Diagnostics
  • Drug Discovery & Development
  • Personalized Medicine
  • Clinical Research
  • Other applications

Biomarkers market, by End User

  • Pharmaceutical & Biotechnology Companies
  • Hospitals & Diagnostic Laboratories
  • Academic & Research Institutes
  • Other end users

Biomarkers market, by region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific (RoAPAC)
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America (RoLATAM)
  • Middle East & Africa
    • Middle East
      • GCC Countries
        • Saudi Arabia (KSA)
        • United Arab Emirates (UAE)
        • Rest of GCC Countries
      • Rest of Middle East (RoME)
  • Africa

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Key Market Stakeholders:

  • Academic & Research Institutes
  • Biomarkers Assays and Reagents Manufacturers, Vendors, and Distributors
  • Contract Research Organizations (CROs)
  • Biomarkers Service & Software Providers
  • Diagnostics Companies
  • Market Research and Consulting Firms
  • Pharmaceutical and Biotechnology Companies
  • Regulatory Agencies
  • Venture Capitalists
  • Forensics Labs
  • Government organizations
  • Private research firms
  • Contract development and manufacturing organizations (CDMOs)
  • Hospitals and Diagnostic Laboratories

Report Objectives:

  • To define, describe, and forecast the global biomarkers market based on product & service, type, research area, technology, disease indication, application, end user, and region
  • To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to six main regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa
  • To profile the key players in the global biomarkers market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and collaborations in the biomarkers market
  • To benchmark players in the biomarkers market using the “Company Evaluation Matrix” framework, which analyzes market players based on various parameters, including product portfolio, geographic reach, and market share

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