Biomarkers Market Size, Share, and Forecast 2030

The global biomarkers market size is projected to reach USD 207.46 billion by 2030 and registering a CAGR of 14.1% from 2022 to 2030.

Biomarker (portmanteau of biological marker) is the attribute that is accurately measured and assessed as an indicator of regular biological processes, pathogenic procedures or pharmacological reaction to a therapeutic interference. Biomarkers can be regarded as an objective action that captures what is occurring in an organism or a cell at a specific moment. Due to these attributes, biomarkers can function as early cautioning systems for the health of an individual. Most common examples of biomarkers are elevated cholesterol levels for cardiovascular disorder and high lead level for cognitive disorders. Biomarkers play a vital role in revealing associations among human biology, environmental exposures, and illness. Researchers can use biomarkers to get a clear understanding of essential biological procedures and convert research findings into applied medical and public well-being applications. A wide variety of biomarkers are employed currently. Each biological system has its particular explicit biomarkers. Several of these biomarkers are fairly easy to measure and make up part of routine health examinations.

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Growth Factors:

Factors such as high incidence of cancer, increasing focus on establishment of biomarker-based diagnostic methods, and growing number of contract research organizations are driving the growth of biomarkers market. The high incidence of chronic ailments, rapidly expanding applications of biomarkers in diagnostics, high funding for research and development in biopharmaceutical companies, increasing research and development activities in developing regions, and string product pipeline are further propelling the biomarkers market expansion across the globe. According to the World Health Organization, from the year 2010 to 2022, the United States is expected to observe high volume of new cancer cases and is anticipated to rise around 24% in males to more than 1 million cancer cases per year, and by around 21% in females to more than 900,000 cancer cases per year. In 2018, there were around 18 million cancer cases globally. Lung and breast cancers stood at the top position in cancer types worldwide, individually contributing 12.3% of the total cancer cases diagnosed in the year 2018.

Moreover, the constantly rising cases of chronic ailments such as cardiovascular disorders, diabetes, COPD, and asthma are contributing to the increased demand for biomarkers-based diagnostic approaches. As per the World Health Organization, cardiovascular disorders are the topmost cause of death worldwide. The WHO data further reveals that, four out of five cardiovascular disorder related deaths are because of stroke and heart attack.

Regional Analysis:

The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2019, North America dominated the global market with a market share of more than39%. U.S. represented the highest share in the North American region primarily due to high awareness regarding latest healthcare technology and presence of skilled researchers. Furthermore, high cancer incidence also contributed to the high market share of the United States.

Europe was the second important market chiefly due to existence of latest healthcare infrastructure and initiatives taken by the governments. The supportive reimbursement scenario in the European region is also expected to boost the demand for biomarkers market in the near future. Asia Pacific is anticipated to grow at the maximum CAGR of around 16.8% in the forecast period due to high incidence of chronic disorders. Latin America and the African and Middle Eastern region will display noticeable growth.

Key Market Players and Strategies:

The major companies functioning in the worldwide biomarkers are Bio-Rad Laboratories, Inc., Epigenomics AG, Qiagen, Abbott, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Abbott, Siemens, and Thermo Fisher Scientific, Inc.among others.

High investment in the research and development along with acquisition, mergers, and collaborations are the key strategies undertaken by companies operating in the global Biomarkers market. Latest research in biomarkers have revealed that biomarker-based blood tests can help in early detection of COVID-19 in high-risk patients which can then be used to formulate treatment path well in advance.

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