Biomarkers Market to reach USD 187.4 billion in 2030 at a CAGR of 14.7% | IMR

Published: June, 2024
| Life Sciences & Healthcare

According to Intent Market Research, the Biomarkers Market is expected to grow from USD 79.3 billion in 2023-e to reach USD 187.4 billion in 2030, growing at a CAGR of 14.7%. Rising Investments in Drug Discovery & Development is Driving the Biomarkers Market

The surge in investments in drug discovery and development is a driving force for the biomarkers market growth. This is attributed to the pivotal role biomarkers play in improving the efficiency and success rates of these processes. The escalating investments underscore a heightened acknowledgment of the value that biomarkers contribute in identifying, validating, and optimizing drug candidates, leading to more effective and precisely targeted therapeutic interventions.

Efficacy Biomarkers Segment is Anticipated to Grow at a Significant Pace in the Biomarkers Market

Efficacy biomarkers is expected to grow at a rapid pace during the forecast period owing to predictive diagnostics and drug-disease monitoring. In some disease areas, the use of biomarkers as outcomes can expedite the development of new drugs. Major companies are working in this treatment areas to find suitable treatment approach through strategic collaborations.

For instance, in 2022, Decode Health, a healthcare artificial intelligence startup, announced on that their partnership with Quest Diagnostics have moved into a new phase to help discover biomarkers for the development of drugs and diagnostic tests. Through this research partnership, both the companies have plans to expand to additional clinical disease areas and their collaboration will concentrate on early detection, differential diagnosis, and therapy selection for multiple sclerosis and nonalcoholic fatty liver disease.

Biomarkers Market

Neurology Segment is Anticipated to Witness Significant Growth

The neurology segment is expected to expand at a significant rate due to the rising prevalence of neurological disorders among increasing geriatric population. The development of disease-modifying therapies, demonstrated to effectively slow cognitive decline in early-stage Alzheimer's disease. These therapies align with the confirmation of amyloid pathology using FDA-cleared biomarker testing in cerebrospinal fluid, where Apo lipoprotein-C serves as a key diagnostic biomarker.

These advancements underscore a proactive approach in addressing Alzheimer's disease and hold promise for improved diagnostic precision and therapeutic interventions. For instance, in 2023, Roche announced the clearance of Elecsys which is an assay developed for early detection of Alzheimer’s disease in patients.

Asia-Pacific is Expected to be Fastest-Growing Region in the Biomarkers Market

The major factors contributing to the growth of Asia Pacific biomarker’s market are increased funding for the identification of biomarkers, a high cancer incidence rate, an increase in research projects, and affordable clinical trial costs across countries. For instance, in August 2023, Wren labs launched tumor biopsy in Asia, focusing on circular mRNA as a targeted biomarker to discover novel treatments for cancer disease.

Biomarkers Market is Highly Competitive with the Presence of a Large Number of Global and Regional Players

The key companies in the biomarkers market are actively expanding their research pipeline to sustain their position in the global market. 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.

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