The global biomarkers market size is expected to reach over USD 129.4 billion by 2027, according to a new study conducted by Grand View Research Inc. It is anticipated to exhibiting a CAGR of 13.7%, during the forecast period. Factors, such as increasing collaborations and funds for R&D activities, rising consumer awareness, a widening patient base, and technological advancements collectively augmenting market growth.
The drug discovery segment contributed the highest revenue in 2019. Pharmaceutical companies focus on extensive R&D initiatives for the development of targeted therapeutics. Coordinated strategic efforts on biomarker development remain a searing trend among drug manufacturers, academic research institutions, commercial R&D organizations, nonprofitable health foundations, and federal government biomedical regulatory and research agencies.
North America continued to lead the biomarkers market in 2019, driven by an amplifying demand for personalized medicines, high disease prevalence, and proactive government initiatives. It is expected to maintain its lead over the forecast period. Asia Pacific is positioned to witness the fastest CAGR, over the forecast period, spearheaded by India.
Some key market players include Abbott; F. Hoffmann-La Roche Ltd.; Qiagen; Siemens Healthcare Private Limited; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Johnson & Johnson Services, Inc; Agilent Technologies, Inc.; and Epigenomics AG. The players are developing novel kits and therapies and drugs to target population in the areas with high unmet clinical needs.
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Safety biomarkers captured more than 41% market share in 2019, driven by increasing awareness regarding routine healthcare checkups and reduction in drug attrition
Validation biomarkers is expected to demonstrate the fastest CAGR through to 2027
Personalized medicine is likely to expand at a CAGR of 14.8% over the forecast period due to consumer awareness and preferences
Cancer dominated the disease segment in 2019, driven by a high disease burden and presence of a strong pipeline
Cardiovascular disease segment is projected to witness the fastest growth in the forthcoming years, supported by the growing obese population base and sedentary lifestyles
Grand View Research has segmented the global biomarkers market on the basis of type, application, disease, and region:
Biomarkers Type Outlook (Revenue, USD Million, 2015 - 2027)
Biomarkers Application Outlook (Revenue, USD Million, 2015 - 2027)
Drug Discovery & Development
Biomarkers Disease Outlook (Revenue, USD Million, 2015 - 2027)
Biomarkers Regional Outlook (Revenue, USD Million, 2015 - 2027)
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