Number of pages: 100-120 | Report Format: PDF | Published date: 01 August, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
The global biomarker market was pegged at ~US$ 42.20 in 2021 and is expected to witness a CAGR of ~ 12.30% during the forecast period.
Biomarkers are naturally occurring molecules, which are found in blood or any other body fluids. The presence of these biomarkers suggests any kind of disease or any abnormality in the human body. these are used by many researchers drug and diagnostics development, in the diagnosis process of many disorders, and management of several persistent diseases such as cardiovascular diseases and cancer. Biomarkers can be some hormones, DNA molecules, proteins, etc. which indicating abnormalities in the human body. These molecules are produced in response to any disease for example from any cancer tissue, which helps to detect progress in the proliferating disease, biomarkers are always found in blood, urine, stool, or any kind of body fluid.
The global biomarker market is driven by the growing increase in the number of diseases, the rising geriatric population, and the development of biomarker diagnostic techniques, an increasing number of biomarkers in research applications. However, the tedious process of developing the biomarkers and high-cost investments in this technique can restrain the growth of this market.
The global biomarker market has been analyzed from four perspectives: Type, Application, Diseases, and Region.
Global Biomarker Market by Type
The global biomarker market on the basis of type is classified into safety, efficacy, validation, surrogate, and prognostic. Among this safety, biomarkers have the highest stake in the market. The driving factors for this growth are following of regular routine checkups, and increasing rates of cancer and cardiovascular diseases, and renal disorders. Safety biomarkers are used for evaluation prior to or later the exposure to any medical devices. These biomarkers are used to measure the presence and level of toxicity in the human body. In addition, safety biomarkers are used to decide on exact to be initiated considering the safety risks.
Validation biomarkers are the second-highest participants in this segment. The credit for this goes to factors like the high usage of these biomarkers in pharmaceuticals and biotechnology companies as they are used to improve analysis, examine drug action, and their beneficial responses.
Global Biomarker Market by Applications
Biomarkers have numerous applications in every section of the healthcare industry. According to application, the biomarker is grouped into diagnostics, drug discoveries, clinical trials, and personalized medicine. Drug discovery is the one of these with the most market interest. The credits for this go to extensive R&D initiatives, development of impacted therapies, and the capability to forecast drug effectiveness because diseases can be identified early, also the time for the treatment is also reduced, hence the diagnostics market is anticipated to maintain its top position.
Global Biomarker Market by diseases
Cancer, cardiovascular diseases, neurological diseases, and immunological diseases dominate the global biomarker market by disease type. The cancer segment saw significant investments in the cancer sector. According to a WHO report released in February 2022, the number of cancer patients is growing, where in 2020, cancer will be the leading cause of death worldwide. Thus the rising need for quick treatment of cancer will lead to further growth in biomarkers marker as these are imperative in cancer diagnostics and treatment development.
Cardiovascular diseases (CVDs) are second-largest stakeholder in the global biomarkers market. Biomarkers are being utilized to diagnose cardiac diseases at a very early stage. This enables early treatment decision with most effective outcomes.
Biomarker Market by Region
Based on region, the global biomarker market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America holds the highest position in the global biomarker market. The factors that are credited for this growth are the high rate of chronic diseases like cancer, cardiovascular disorders, immunological ailments, and etc. trending usage of personalized medicine in this region for which biomarkers are required. Many pharmaceutical and biotechnology research companies approve various growth strategies which require biomarkers for applications such as the development of certain therapeutic agents and predicting the progress of any diseases; biomarker can also help in increasing the rate of drug manufacturing.
After North America, Europe is projected to hold a prominent position in the global biomarker market with a high number of research institutes conducting research on chronic diseases, a high amount of biomarker solution suppliers in this region, and quick growth of biomarker testing based on molecular diagnostics. Asia Pacific biomarker market is also expected to grow with a significant CAGR because of factors such as the rising population of people suffering from prolonged diseases, and high investments by the governments in research and development. In Asia, China is expected to show elevated growth due to massive government investments in R&D and life science projects, growing prevalence of chronic diseases such as cancer, and the increased adoption of personalized medicine.
Some of the prominent players operating in the biomarker market includes:-