Biomarkers Market By Type (Safety Biomarkers, Diagnostic Biomarkers, Monitoring Biomarkers, Prognostic Biomarkers, Predictive Biomarkers, Pharmacodynamic Biomarkers, Efficacy Biomarkers), By Disease Indication (Oncology, Cardiovascular Disease, Neurology, Infectious Disease, Autoimmune Disease, Nephrology, Respiratory Disease), By Application (Disease Diagnosis, Drug Discovery & Development, Personalized Medicine), By End-use Industry (Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, Research Institutions) and By Region; Global Insights & Forecast (2024 - 2030)

The Biomarkers Market is expected to grow from USD 79.3 billion in 2023-e to USD 187.4 billion by 2030, at a CAGR of 14.7% during the forecast period. The biomarkers market is dominated by key players such as Amgen, Biogen, Biognosys, Bio-rad, Chordia Therapeutics, Epigenomics, Evotec, Koneksa, Myriad Genetics, Quanterix, Sengenics, Siemens, Thermo Fisher Scientific, and Veravas. Increasing adoption of personalized medicine and health awareness is driving the market growth.

The biomarkers market is anticipated to grow significantly due to various benefits such as early disease diagnosis and monitoring, therapeutic efficiency, and drug research. The emergence of various technologies is fostering the demand for biomarkers in various disease areas. A biomarker is a molecule that provides a quantifiable and measurable indicator of different biological processes and conditions. These indicators can be found in bodily tissues, fluids, or other substances to determine information about pathological processes in the body.

The demand for biomarkers continues to grow as healthcare industries recognize the potential for improved patient outcomes and drug development, thereby driving ongoing research and development in this space.

Biomarkers Market Dynamics

Increasing Incidence of Chronic Diseases is Expected to Drive the Market   

The biomarkers market is mainly driven by the increasing burden of chronic disease. Early cancer detection and screening are made possible by biomarkers, which enable timely treatment while the disease is still more treatable. Biomarkers such as CA-125 and HER2 are used for early diagnosis of cancer disease and C-protein for cardiovascular disease treatment. A group of illnesses known as cardiovascular diseases include rheumatic heart disease, coronary heart disease, and cerebrovascular disease. With an estimated 17.9 million deaths annually, cardiovascular diseases are the world's leading cause of death.

Complexity and Variability of Biomarkers May Hinder the Market Expansion

The complexity and variability of biomarkers pose significant challenges to their development, validation, and therapeutic application. Biomarkers can have a broad range of molecular components, such as proteins, metabolites, nucleic acids, and other materials. Every type of biomarker has a different set of challenges, such as the need for specific detection methods or issues with the gathering and processing of samples. The need to deal with a variety of biomarker types raises the complexity of biomarker research and analysis.

Biomarkers Market Segment Insights

The Safety Biomarkers Segment Held the Largest Market Share

The safety biomarkers are anticipated to hold the largest market share due to rising awareness of health safety and an increase in the prevalence of chronic and infectious diseases. Scientists can enhance their ability to forecast an individual's susceptibility to illness, anticipate the progression of a disease post-diagnosis, and identify the impact of a drug on physiology through the identification of biomarkers.

Major players are concentrating their efforts on developing efficient technologies to improve the safety of patients. For instance, in January 2023, Veravas announced the launch of VeraBIND technology which provides a distinctive and all-inclusive solution that raises biomarker detection accuracy and lowers the likelihood of false positive or negative results in a range of sample types.

Oncology Segment is Anticipated to Witness Growth Primarily Driven by Rising Cancer Disease Cases

The increasing global prevalence of cancer and the rising need for accurate diagnostic instruments are fueling the growth of this sector. The utilization of biomarkers for early disease detection, monitoring therapeutic interventions, and the advancement of precision medicines are key factors driving this expansion. The rising burden of cancer disease is a major cause of death across the globe. For instance, in 2022, according to the American Cancer Society, an estimated 1.9 million new cases of cancer will be diagnosed in the US in 2022, and 609,360 people will die from cancer.

Drug Discovery and Development Segment Held a Prominent Market Share

The drug discovery and development segment is expected to grow at a rapid pace owing to rising research & development programs by key players. In addition to that, rising adoption of biomarkers in therapeutic efficacy and evaluation, and clinical trial monitoring are further boosting the market growth.

The major market is developing drug discovery trials supported by artificial intelligence. For instance, in May 2023, Fujitsu, Kyoto University, and Chordia Therapeutics announced the commencement of their jointly held research program in field trials using Fujitsu's artificial intelligence causal discovery technology to identify biomarkers that can shorten the length of clinical trials for new cancer treatments or increase their chance of success.

Through this collaboration, Fujitsu, Kyoto University, and Chordia aim to bring new cancer treatments to reality that are tailored to the genetic makeup, symptoms, and progression of each patient's cancer, ultimately enhancing patient outcomes and well-being.

Pharmaceutical and Biotechnology Companies Segment to Drive the Biomarkers Market

The pharmaceutical and biotechnology company segment is growing due to rising research & development activities to discover novel therapeutic molecules to treat various diseases. Biomarkers are indispensable in pharmaceutical research developed to perform vital functions throughout the entire spectrum of stages. Biomarkers are used for target identification, validation, drug discovery, lead optimization, pharmacokinetics, pharmacodynamics studies, and biomarker-based diagnostics, along with companion diagnostics.

Their significance extends from the initial discovery phase to post-marketing activities, illustrating their diverse and integral role in the pharmaceutical research landscape. For instance, in April 2021, Amgen launched a program “Biomarker Assist”. It is a program to increase the number of patients who can access biomarker testing for metastatic non-small cell lung cancer. A crucial first step in matching patients with the appropriate treatment is biomarker testing performed at the time of diagnosis.

North America is Poised for Significant Market Growth over the Forecast Period

North America held the largest market share in biomarkers market owing to the presence of major market players and the development of personalized medicines. The major factors contributing to the growth of this region are growing public knowledge of biomarkers, encouraging policies from the government, developments in technology, and upgrades to the healthcare system. For instance, in June 2023, USFDA launched a pilot program to help lower the risks involved in identifying cancer biomarkers using tests developed in laboratories. This pilot program is designed and launched to support drug research and improve patient care in cancer treatment.

Major Industry Players are Enhancing their Positions by Developing Novel Therapeutics

The market is characterized by intense competition due to the presence of numerous international and domestic players. The biomarkers market is dominated by key players such as Amgen, Biogen, Biognosys, Bio-rad, Chordia Therapeutics, Epigenomics, Evotec, Koneksa, Myriad Genetics, Quanterix, Sengenics, Siemens, Thermo Fisher Scientific, and Veravas. These industry leaders are primarily focused on acquiring smaller players and developing advanced drug candidate to improve patient outcomes.

• In October 2023, Thermo Fisher Scientific acquired Olink Holding AB for an amount of USD 3.1 billion. Through this acquisition, Thermo Fisher increase its proteomics research capabilities, progress precision medicine and life science research as Olink provides cutting-edge proteomics discovery and development solutions that help top academic and biopharmaceutical researchers quickly and effectively understand disease at the protein level.
• In September 2022, KCAS Bioanalytical acquired Active Biomarkers. Through this acquisition, KCAS has increased its assay development and specialty bioanalytical laboratory with expertise in drug research in various disease areas including neurodegenerative disorders, infectious diseases, cancer, and inflammation. This acquisition adds significant bioassay and cellular analysis expertise as well as European capacity to KCAS's mission of delivering superior bioassay services to the biotech and pharmaceutical industries.

Biomarkers Market Coverage

The report provides key insights into the biomarkers market, and it focuses on technological developments, trends, and initiatives taken by the government in this sector. The report delves into market drivers, restraints, and opportunities, and analyzes key players as well as the competitive landscape within the market. The report offers the market size and forecasts for the biomarkers market in value (USD billion) for all the above segments.

Report Scope