New York, USA, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Biomarkers Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Biomarkers Market Information by Product, Type, Application, Disease Indication, and Region - Forecast till 2030”, the market is anticipated to grow at CAGR of 10.80% throughout the evaluation period to reach a USD 88605.25 Million by 2030.
Biomarkers Market Scope:
Market expectations for biomarkers have been met because to their integration with important imaging and data management technologies, but this progress is not without its drawbacks. Clear imaging of cancer tumors and other disorders, with no radiation exposure during imaging with CT scans and MRIs, is made possible with the help of biomarkers.
Biomarker discovery and disease detection make use of omics, proteomics, and meta-bolomics technology. Biomarkers have numerous molecular uses, including but not limited to risk assessment, molecular diagnostics, illness detection, DNA fingerprinting, and others. With the rising need for a more cost-effective and efficient treatment dose, pharmaceutical companies are turning to biomarkers to study and find new medications. Validation and testing of medications, sample preparation, and assay creation all make use of biomarkers to streamline the drug research and development process.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 88605.25 Million |
| CAGR | 10.80% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Type, Application and Disease Indication |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Advancement in the area of medical technologies |
| Rising use of biomarkers to increase the accuracy of disease diagnosis |
Biomarkers Market Competitive Dynamics:
The outstanding players in the biomarkers market are
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
- Hoffmann-La Roche Ltd
- PerkinElmer Inc.
- Merck KGaA
- Bio-Rad Laboratories
- Abbott Laboratories
- EKF Diagnostics
- Enzo Biochem Inc.
- Meso Scale Diagnostics, LLC
- Signosis
- PerkinElmer Inc.
Biomarkers Market Dynamics:
Market Drivers
The need for in-depth diagnostic tests is growing as the prevalence of chronic and fatal diseases continues to rise. The vast expansion of the biomarker market is being fueled by the proliferation of biomarker suppliers, manufacturers, and service providers around the world. Recent developments in biomarkers, such as biomarker signatures, have improved the efficacy of treatment for neurological disorders. This has facilitated early diagnosis, rapid drug development, and non-invasive testing. New biomarkers are being found thanks to research efforts. Such discoveries and technical advances should propel the market to lucrative growth throughout the forecast period. Biomarkers are expected to play a larger role in the diagnosis of infectious diseases in the near future.
For almost three decades, oncology has made greater use of biomarkers than any other disease area. The role of biomarkers in illness monitoring, diagnosis, and therapy efficacy has expanded from the laboratory to the clinical setting. As a result, the global biomarker test market is expected to expand due to the worsening cancer situation. Cancer, diabetes, cardiovascular disease (CVD), and other chronic diseases are on the rise, as is their potential for death. Changes in how people live their lives are a contributing factor.
Market Restraints
The rate of expansion in the approaching time period may be slowed by the higher investment needed for research into biomarkers research and their discovery.
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COVID-19 Analysis:
Increased demand for biomarker technologies is mostly attributable to the rise in COVID-19 cases. Recently, a Chinese research team identified the molecular markers in the blood that are indicative of acute COVID-19 infections caused by a SARS-CoV-2 coronavirus infection. Expanded research into COVID-19's etiology and clinical course could help identify early on which patients are at highest risk for developing severe symptoms and developing into hospitalization admissions. The increase in funding will allow researchers to examine biomarkers and outcomes in people with COVID-19 and other chronic diseases. Clinical decision making for a wide variety of infectious disease treatments has relied heavily on biomarkers for quite some time. The importance of evaluating biomarkers' function in establishing illness severity and allocating adequate resources has grown in recent years.
Market Segmentation:
Based On the Product
The consumables subsegment of the biomarker market was reported to have the highest market share, driving expansion in the biomarkers diagnostics industry as a whole.
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by Type
In 2019, the safety biomarkers market generated the most revenue, while the efficacy biomarkers market grew at the fastest rate of all segments over the projected period. The increasing demand for accurate interpretation of DNA sequences, proteins, and nucleic acids, as well as recent advances in sequence profiling techniques and the multiplex biomarkers platform, will all contribute to a rise in the use of biomarkers in diagnostics.
By Application
The diagnostics application area recorded a CAGR of 10.63% throughout the forecast time frame. The rising prevalence and incidence of chronic diseases, the development of market-active enterprises, the increasing number of clinical trial candidates, and the demand for targeted treatment and diagnosis all contribute to the anticipated expansion of this application sector.
By Disease Indication
the market for neurological disorders grew at exponential CAGR during the forecast period. The potential of biomarkers to meet specialized healthcare requirements is largely responsible for this expansion.
Biomarkers Market Regional Analysis:
For this study, we split the Americas into two regions: North America and Latin America, and then within North America, we split the biomarkers market forecasts market into two more regions: the United States and Canada. Due to increasing diagnostic applications, positive R&D funding for biomarker research, and rising cancer rates, the Americas dominated the global biomarker market in 2019.
The biomarkers industry in Europe is widely recognized as the industry's second-largest contributor to the global market. Increasing acceptance of biomarker-dependent diagnostic tests, a large patient pool to target, rising rates of lifestyle-related disease prevalence, and supportive government policies are all factors that should drive growth in the global market.
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The rising number of contract research companies and the low cost of clinical trials, together with the increasing uptake of advanced medical imaging technologies, are all factors that are expected to increase Asia Pacific's share of the biomarkers market.
Key regions like the Middle East and Africa are included in the biomarkers market in the MEA. The market in the Middle East and Africa is expected to change due to developments in healthcare infrastructure and the increasing prevalence of treatment options in the region.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
