Pune India, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the biomarkers market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the biomarkers market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, disease, application and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global biomarkers market are Agilent Technologies, Inc., LifeSign LLC, QIAGEN, F. Hoffmann-La Roche Ltd, Enzo Biochem Inc., Merck KGaA, Cisbio Bioassays, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc, Johnson & Johnson Services, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare Private Limited, Abbott, General Electric among others. To achieve a substantial market share in the worldwide biomarkers market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The use of biomarkers in monitoring and predicting health is used to assess clinical variables, such as blood pressure, cholesterol levels etc. The biomarkers market is witnessing immense growth due to rising cases of chronic diseases but there are some factors which are hampering the growth of the market such as the time-consuming process of biomarker validation, high cost, difficulty in developing assay etc. A major advance in the field of cancer diagnostics is the development of biomarkers, which could transform the way we diagnose and treat cancer. Detecting cancer early is crucial for treating and managing it. Assay development takes a long time, resulting in an inability to generate biomarkers at the same rate as assays are developed. Furthermore, as pharmaceutical companies continue to search for cost-effective and efficient treatment doses, biomarkers are helping them analyze and discover new drugs, which is largely attributed to the potential of biomarkers to meet specialized healthcare requirements. Rising investment in r&d to enhance the efficiency of biomarkers will create new opportunities for market growth. Growing geriatric populations, advances in biomarker-based diagnostic techniques, and increasing prevalence of chronic diseases, and rising awareness about biomarkers are all projected to drive market growth over the forecast period.
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Scope of Biomarkers Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Disease, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Agilent Technologies, Inc., LifeSign LLC, QIAGEN, F. Hoffmann-La Roche Ltd, Enzo Biochem Inc., Merck KGaA, Cisbio Bioassays, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc, Johnson & Johnson Services, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare Private Limited, Abbott, General Electric among others |
Segmentation Analysis
Safety biomarkers are expected to be the fastest-growing segment in 2022.
The type segment includes efficacy biomarkers, safety biomarkers and others. The safety biomarkers segment is expected to witness the highest growth rate during the forecast period. A higher awareness of routine health checks, a lower attrition rate for drugs, and an increase in the number of people with cancer, cardiovascular disease, and kidney disease led to a large market share for safety biomarkers in the global biomarkers market.
Cancer is expected to be the fastest-growing segment in 2022.
The disease segment includes cardiovascular disorders, cancer, immunological disorders, neurological disorders and others. The cancer segment is expected to witness the highest growth rate during the forecast period. One of the world's most widely studied disorders is cancer. Throughout history, research has shown that biomarkers can be a turning point in cancer management for early detection and management. In the future, the popularity of cancer biomarkers is expected to be further boosted by a strong pipeline of products from major manufacturers related to cancer biomarkers.
Diagnostics is expected to be the fastest-growing segment in 2022.
The application segment includes food supplements, weight gain, vitamin deficiency, immunity strength and others. The diagnostics segment is expected to witness the highest growth rate during the forecast period. It is anticipated that the diagnostics segment will expand as chronic diseases become more prevalent, market-active enterprises develop, clinical trial candidates, increase and targeted treatment and diagnosis demand increases.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the biomarkers market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. In the United States, six out of ten adults suffer from chronic diseases, and four out of ten have two or more chronic conditions, according to the National Center for Chronic Disease Prevention and Health Promotion's article "Chronic Diseases in America", updated in January 2021. It is anticipated that the market for biomarkers will grow significantly in the near future as they play a crucial role in the early diagnosis and treatment of chronic diseases. Further, the regional government is also focusing on identifying biomarkers for rare neurodegenerative diseases, which will create new opportunities for market growth.
Country Analysis
- Germany
Germany's biomarkers market size was valued at USD 5.14 billion in 2022 and is expected to reach USD 14.25 billion by 2030, at a CAGR of 13.6% from 2023 to 2030.
Universities are increasingly collaborating with biomarker solution providers, and prominent research institutes and market players operate in the country. The market is expected to grow rapidly as biomarker testing becomes more available in the country, improving healthcare services and boosting the market in the process.
- China
China's biomarkers market size was valued at USD 5.35 billion in 2022 and is expected to reach USD 15.15 billion by 2030, at a CAGR of 13.9% from 2023 to 2030.
Cancer and cardiovascular disease are becoming more common, resulting in increased demand for disease diagnosis using biomarker tests. Furthermore, the Ministry of Health predicts that 203 million citizens of China will be suffering from cardiovascular disease by 2029, which will boost the demand for biomarkers.
- India
India's biomarkers market size was valued at USD 4.12 billion in 2022 and is expected to reach USD 11.5 billion by 2030, at a CAGR of 13.7% from 2023 to 2030.
Cancer and cardiovascular diseases are expected to increase the demand for biomarkers in the near future due to their increasing incidence in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing due of the rising cases of cancer and cardiovascular diseases, propelling the growth of the market across the countries.
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