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The global biomarkers market size stood at USD 39.10 billion in 2018 and is projected to reach USD 97.51 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period.
A biomarker or biological marker is a measurable indicator of the biological state or condition of an organ or a tissue, or a cell. Biomarkers are widely used in medicine, safety assessment, and drug discovery and development. Biomarkers can be classified into various types according to their functionality, such as diagnostics biomarkers, prognostic biomarkers, predictive biomarker, and others. They play an important role in improving the drug development process as well as in the larger biomedical research enterprise. Based on the biological properties, biomarkers are also categorized as genomics, proteomics, and others.
Increase in the diagnostic applications of biomarkers is one of the major factors propelling the growth of the biomarker industry. An increase in the number of research and development activities, funded by biotechnology and pharmaceutical companies coupled with the rising prevalence of cancer are some of the major biomarker market trends boosting the demand and thereby, accelerating the growth of the market.
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The factors propelling the biomarkers market growth include, elevated demand for personalized medicine, technological advancements in disease diagnosis, and rising preference of biomarkers in drug discovery and development. For instance, in November 2019, DiamiR, a developer of innovative blood-based diagnostic tests for neurodegenerative and other diseases received award from Alzheimer’s Drug Discovery Foundation (ADDF) for a project entitled "Circulating brain-enriched microRNAs as peripheral biomarkers of neurodegeneration."
“Growing Diagnostic Applications of Biomarkers to Fuel Market Growth”
Biomarkers are prominently used in companion diagnostics, personalized medicine, disease risk assessment, and drug discovery and development. The rising adoption of biomarkers in disease diagnostics is one of the major factors expected to drive the market growth during the forecast period of 2019-2026.
Biomarkers play a prominent role in personalized medicine, including various applications such as diagnosis, prognosis, and targeted therapies for numerous disease conditions. Personalized medicine has gained acknowledgment due to certain limitations in traditional disease diagnosis and treatment procedures. Patients suffering from cancer and immunological disorders are inclining towards tailored treatment options based on clinical and genetic features. The rising demand for personalized medicine is one of the major factors driving the demand for biomarkers hence fueling the growth of the market.
Additionally, the increasing usage of companion diagnostics, as a tool for personalized treatment in patients, is propelling the demand for new biomarker-based tests in the global market. For instance, the Trofile assay is used to determine tropism of the human immunodeficiency virus (HIV) and the likelihood of a patient responding to the treatment by Selzentry. Selzentry (Maravoric) by Pfizer, is a chemokine receptor antagonist, developed for treatment of HIV. Furthermore, increasing investment by various key market players in the development of companion diagnostics is also an additional factor augmenting the market growth. For instance, in April 2019, QIAGEN N.V. entered into a service agreement with LabCorp in order to provide access of cancer patients to QIAGEN’s companion diagnostic products following regulatory approvals of drugs and their associated tests.
“Introduction of Novel Products to Spur Growth Opportunities”
Increasing investment by market players in the research and development of biomarkers, launch of several tests in the market, coupled with various collaborations & partnerships are some of the major factors anticipated to fuel the demand for biomarkers during the forecast period.
In November 2019, Personalis, Inc., a leader in advanced genomics for cancer, entered into a collaboration with Merck KGaA, with an aim to investigate novel biomarkers of response and mechanisms of resistance to cancer therapies. Merck KGaA will utilize Personalis’ newest cancer immunogenomics platform, ImmunoID NeXT, for clinical biomarker identification and development. Various similar collaborations & partnerships are anticipated to propel the introduction of new products in the market. These factors are anticipated to spur the market growth. Additionally, Owlstone Medical Ltd. introduced a new ReCIVA Breath Sampler and CASPER Portable Air Supply in September 2019. The sampler is designed to support researchers working to identify disease biomarkers and to measure levels of known volatile organic compounds (VOCs) on a person’s breath.
Furthermore, Olink Proteomics launched Olink ONCOLOGY III, a new oncology-focused biomarker panel. Bio SB, Inc., announced the launch of IVD biomarkers and detection systems. Additionally, in June 2017, the U.S. Food and Drug Administration approved a cancer treatment based on a biomarker. Keytruda (Merck) received approval for the treatment of adults and children with unresectable solid tumors who have specific genetic biomarkers, known as microsatellite instability-high (MSI-H) and DNA mismatch repair (dMMR).
Rising prevalence of cancer and cardiovascular diseases and more investment by key market players in the development of biomarkers are a few of the major factors anticipated to fuel the demand for biomarkers and hence would drive the growth of the market.
“Oncology Segment Expected to Hold the Highest Share in Coming Years”
On the basis of application, the market can be segmented into oncology, cardiology, neurology, and others. The oncology segment dominated the biomarkers market share in 2018 and is expected to grow at a significant CAGR during the forecast period. The rising prevalence of cancer and the growing application of biomarkers in cancer diagnostics are some of the vital factors anticipated to drive the growth of the segment.
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Cardiac biomarker detects the presence of diseases and evaluates their severity for initiation of proper therapy. Troponin is a prominent biomarker used for the diagnosis of myocardial infarction. The introduction of novel biomarkers for the diagnosis of cardiovascular disease is also one of the major factors anticipated to drive the growth of the cardiac biomarker segment.
“Diagnostics and Research Laboratories Segment to hold the Highest Share among End User”
On the basis of end user, the market can be segmented into pharmaceutical & biotechnology companies, diagnostics & research laboratories, hospitals & specialty clinics, and others. Investment by key market players in the development of novel biomarkers for diagnostics and therapeutic uses, as well as extensive grants provided by the government and private organizations for drug discovery and development are some of the crucial factors anticipated to drive the growth of the diagnostics and research laboratories segment during the forecast period of 2019-2026. For instance, Empire Genomics, LLC offers USD 250,000 grants to researchers and clinicians for developing and validating new biomarkers in the field of oncology.
North America generated a biomarkers market revenue of USD 14.80 billion in 2018 and is anticipated to grow at a significant CAGR during the forecast period. Adoption of biomarkers in personalized medicine and investment by various key market players in the development of the biomarkers and their specific applications are anticipated to fuel the growth of the market in North America, followed by Europe.
North America Biomarkers Market Size, 2018
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Asia Pacific is anticipated to grow at a higher CAGR during the forecast period. Increasing prevalence of cancer and cardiovascular disease is increasing the demand for disease diagnosis, preferably biomarker based tests. Hence, it is boosting the revenue in this region. According to the Ministry of Health, in China, about 203 million people are suffering from cardiovascular diseases, and this number is expected to increase by 73.0% in 2030. Application of biomarkers in the drug discovery and development process is boosting key market players to invest in the research to develop novel biomarkers. These factors are anticipated to propel the demand for biomarkers and fuel market growth.
On the other hand, the Middle East and Africa and Latin America are expected to grow at a significant CAGR during the forecast period of 2019-2026. Entry of global players in the region, along with regional and national agencies emphasizing on providing advanced tests and developed healthcare infrastructure to the patients are some of the factors, driving the demand for biomarker based tests in these regions.
“F. Hoffmann-La Roche Ltd., Abbott, and Thermo Fisher Scientific, Inc. are Leading Market Players”
The market is a highly fragmented market. To strengthen their position, key market players are focusing on the introduction of novel biomarker tests, and entering in mergers and partnerships with other prominent companies with an aim to establish a strong brand presence. F. Hoffmann-La Roche Ltd., Abbott, and Thermo Fisher Scientific, Inc. dominated the global market share in 2018. Other players operating in the market are Bio-Rad Laboratories, Inc., Sino Biological Inc., BioVision Inc., Myriad RBM, R&D System, Axon Medchem, CENTOGENE N.V., and others.
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The biomarker market report provides detailed information regarding various insights of the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the biomarkers market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2025 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.
Value (USD billion)
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Fortune Business Insights says that the global market was USD 39.10 billion in 2018 and is projected to reach USD 97.51 billion by 2026.
In 2018, the market was valued at USD 39.10 billion.
The market is likely to exhibit a CAGR of 12.1% during the forecast period.
Oncology is expected to be the leading segment in this market during the forecast period.
Rising prevalence of cancer is one of the key factors driving the growth of the market.
North America is expected to hold the highest share in the market.
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