Biomarkers Market Size, Share & Trends Analysis Report By Type (Safety, Efficacy), By Application (Diagnostics, Personalized Medicine), By Disease (Neurological Diseases, Cancer), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global biomarkers market size was valued at USD 66.97 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030. The increasing significance of companion diagnostics, a rise in the prevalence of cancer, and increasing investments in biomarker research and significant innovations owing to ongoing research are anticipated to drive industry growth. For instance, in October 2022 researchers from Boston University received funding of USD 4.6 million from the National Institutes of Health to innovate lung cancer biomarkers. Moreover, technological advancements in the development of biomarker-based diagnostics are another factor contributing to industry expansion.

Research aids in the development of effective therapies for the treatment of various diseases, such as cancer, cardiovascular diseases, immunological diseases, and neurological diseases. It also helps in understanding how a particular disease can be prevented and diagnosed at an initial stage. It has been observed that there has been an increase in public and private investments in the industry. For instance, in March 2022, Quanterix Corp. announced receiving funding from the Alzheimer’s Drug Discovery Foundation to expedite Alzheimer’s disease diagnostic plasma test development. Plasma-based biomarkers for the identification of Alzheimer’s disease are close to achieving clinical application.

The use of biomarkers in infectious disease diagnosis is projected to become increasingly significant in the coming years. For instance, as per Frontiers in Microbiology in 2020, potential MicroRNA-based biomarkers have been detected for the diagnosis of infections, such as rhinoviruses, influenza infections, tuberculosis, HIV, malaria, Ebola, and Hendra virus. These miRNA-based biomarkers are aimed at promoting the early detection of infectious diseases. Moreover, biomarkers are being employed to track the health of the brain by quantifying molecules in the treatment of neurological diseases. The treatment of neurological diseases is becoming more effective owing to recent developments in biomarkers, such as biomarker signatures.

The recent developments allow noninvasive testing, quicker drug development, and early diagnosis. For instance, in March 2022, Altoida collaborated with the Digital Medicine Society (DiMe) to advance its next-generation precision neuro-biomarkers platform. Furthermore, leading players are focusing on introducing programs that can increase the commercialization of biomarker-based products. For instance, in April 2021, Amgen, Inc. introduced the Biomarker Assist program, which financially helps metastatic NSCLC patients gain access to biomarker testing. The KRAS Single Gene Test (SGT) and the NGS Affordability Programs make up Biomarker Assist.

Type Insights

The safety segment held the largest share in 2022 and accounted for the maximum share of more than 37.80% of the total revenue. The segment is anticipated to grow at a decent rate during the projected period. A rise in the use of safety biomarkers in drug discovery & development is anticipated to fuel the segment expansion. In addition, an increase in the population that is at high risk of developing various diseases, like kidney disorders, cancer, and cardiovascular conditions is anticipated to drivethe segment growth.

Also, the growing awareness about routine health checkups and reducing drug attrition rate, which is observed to be associated with biomarker-based therapies, are factors responsible for segment growth. Efficacy biomarkers are anticipated to exhibit a lucrative growth rate over the projected period. Efficacy biomarkers help predict patient response to a specific drug. Despite the challenges in research, several findings have been reported on efficacy biomarkers. For instance, ATPase-copper Transporting β Polypeptide (ATP7B) is a biomarker used for the detection of ovarian cancer.

Furthermore, collaborative efforts between academic institutes and companies are expected to enhance the discovery of biomarkers. The four main types of efficacy biomarkers are predictive, prognostic, pharmacodynamic, and surrogate biomarkers. Arise in strategic collaborations for promoting research activities is escalating segment demand. For instance, in April 2022, Annovis Bio, Inc. entered a Cooperative Research & Development Agreement with the National Institute on Aging to develop PD biomarkers for buntanetap, intended for the treatment of Alzheimer’s disease and Parkinson’s disease.

Application Insights

The drug discovery & development segment dominated the industry in 2022 witha revenue share of more than 32.85% and is projected to grow at a significant CAGR rate during the projected period. The segment growth can be attributed to factors, such as extensive R&D efforts by leading participants, rising adoption of biomarkers in drug discovery, and ongoing strategic alliances in biomarkers discovery. For instance, in June 2022, InterVenn Biosciences collaborated with the Foundation for the National Institutes of Health’s Biomarker Consortium and the Worldwide Innovative Network (WIN) Consortium.

This was aimed at advancing clinical trials, improving patient care, enhancing precision oncology, and accelerating biomarker discovery. In addition, in June 2021, Tempus expanded its multi-year agreement with Janssen to support AI/ML and real-world evidence to augment the development and discovery of oncology therapies. The biomarker collaboration was aimed at the identification of patients eligible for treatment; this would help with early disease detection & favorable outcomes in patients. The personalized medicine segment is likely to register the fastest growth rate in theforecast years.

The growing adoption of personalized medicine in chronic diseases, high penetration of pharmacogenomics, and increasing awareness about personalized medicine among healthcare professionals are likely to support segment expansion. In addition, the strategic initiatives undertaken by leading participants support segment expansion. For instance, in March 2021, Oxford BioDynamics signed a resale and supply agreement with Agilent Technologies, Inc. for EpiSwitch Explorer, an array kit that can be used for biomarker discovery and acts as a critical component in the personalized medicine segment.

Disease Insights

The cancer segment captured the largest revenue share of more than 36.60% in 2022 and is expected to retain its dominance over the forecast period. The growth of the segment is owing to an increase in demand for rapid & accurate diagnostic tools and a rise in the global incidence of cancer. According to the Global Cancer Observatory, about 19.3 million new cancer cases were recorded in 2020, while around 10 million cancer deaths were reported in the same year. Globally, cancer is the second leading cause of death, and nearly 70% of global cancer-related deaths occur in middle- & low-income countries.

Hence, the use of biomarkers to detect cancer, estimate prognosis, monitor response to the treatment, and check for the development of resistance to treatment is crucial in disease management. Furthermore, an increase in the demand for personalized medicines, coupled with growing collaborations between pharmaceutical and diagnostic companies, is anticipated to drive the segment. In October 2021, DarwinHealth entered a scientific collaboration with Prelude Therapeutics for the development of novel biomarkers for several oncology candidates. The cardiovascular diseases segment held the second-largest revenue share in 2022.

The increasing prevalence of CVDs is anticipated to boost segment growth over the forecast period. According to the WHO, 17.7 million people die from CVDs annually, which accounts for over 31% of all deaths worldwide. Moreover, the rising efforts of companies for the development of cardiac biomarkers that can provide an enhanced understanding of the pathophysiology of CVDs are fueling segment growth. For instance, in March 2022, CardiNor AS achieved a CE marking for its CardiNor Secretoneurin ELISA test for accurate cardiovascular risk prediction and patient management.

Regional Insights

North America led the global industry in 2022 with a revenue share of more than 44.00% due to the high disease burden, increased consumer awareness about biomarkers, supportive government initiatives, technological advancements, and improvements in healthcare infrastructure. Furthermore, the presence of key players in this region and various organic & inorganic developments undertaken by them is a major factor expected to drive the region’s growth. For instance, in November 2022 Akoya Biosciences, Inc. announced the launch of PhenoCode signature panels for high-throughput spatial biomarker discovery.

Asia Pacific, on the other hand, is anticipated to register the fastest growth rate during the projected period. Factors, such as a surge in funding for biomarkers discovery, high prevalence of cancer, rising research initiatives, and low cost of clinical trials in developing nations are expected to support regional growth. In addition, an increase in funding for biotech and pharma companies, a rise in the number of CROs, and an increasing application scope of biomarkers are expected to facilitate regional market growth during the projected period.

Key Companies & Market Share Insights

Key players are adopting strategies, such as new product development, merger & acquisition, and partnership, to increase their industry share. Market players, such as F. Hoffmann-La Roche Ltd. and Abbott, are actively involved in the development of novel biomarkers solutions. For instance, in August 2022, Thermo Fisher Scientific, Inc. launched CE-IVD (IVDD) NGS test and analysis software to expand access to personalized oncology biomarker testing.Some of the prominent players in the global biomarkers market include:

• F. Hoffmann-La Roche Ltd.

• Abbott

• Epigenomics AG

• General Electric

• Johnson & Johnson Services, Inc.

• Thermo Fisher Scientific Inc.

• Bio-Rad Laboratories, Inc.

• Siemens Healthcare GmbH

• QIAGEN

Biomarkers Market Report Scope

Global Biomarkers Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global biomarkers market report on the basis of type, application, disease, and region:

• Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Safety

  • Efficacy

  • Validation

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Diagnostics

  • Drug discovery & development

  • Personalized Medicine

  • Others

• Disease Outlook (Revenue, USD Billion, 2018 - 2030)

  • Cancer

    • Safety

    • Efficacy

    • Validation

  • Cardiovascular Diseases

    • Safety

    • Efficacy

    • Validation

  • Neurological Diseases

    • Safety

    • Efficacy

    • Validation

  • Immunological Diseases

    • Safety

    • Efficacy

    • Validation

  • Others

    • Safety

    • Efficacy

    • Validation

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait