SAN FRANCISCO, Feb. 28, 2023 /PRNewswire/ — According to a new report by Grand View Research, Inc., the global biomarker market size is expected to reach US$181.03 billion by 2030, growing at a CAGR of 13.3% over the forecast period Increasing R&D investment by pharmaceutical and biotechnology companies, rising numbers of contract research organizations (CROs) and falling clinical trial costs in emerging markets are the key drivers for the industry. In addition, key players employ various strategies to increase their production capacities and boost the reach of their product offerings. In June 2022, Paige announced its collaboration with Janssen to evaluate the potential of a Janssen-developed (H&E)-based (AI)-assisted biomarker test to screen for actionable FGFR3 and FGFR2 genomic alterations in patients with bladder cancer.
Key industry insights and takeaways from the report:
The safety segment had the largest share in 2022 due to the increasing adoption of safety biomarkers in drug research and development. The Efficacy segment will see the fastest growth rate from 2023 to 2030 due to an increase in strategic collaborations to advance research activities. The Drug Discovery and Development segment accounted for the largest share in 2022 due to the extensive R&D efforts of leading participants and the increasing adoption of biomarkers in drug discovery. The Cancer diseases segment dominated the industry in 2022. However, the Neurological diseases segment is expected to register the fastest CAGR in the projected years. Asia Pacific is expected to be the fastest growing region during the forecast period owing to the rising investments by the key players and the increasing prevalence of diseases in the region.
Read 150 Pages Market Research Report “Biomarkers Market Size, Analysis of Shares and Trends by Type (Safety, Efficacy), by Application (Diagnostics, Personalized Medicine), by Disease (Neurological Disorders, Cancer), by Region and Segment Forecasts, 2023 – 2030″, published by Grand View Research.
Biomarker market growth and trends
Rising prevalence of chronic diseases such as cancer, diabetes and cardiovascular disease are expected to spur growth in the industry. According to the American Cancer Society, an estimated 1.9 million new cancer cases will be registered in the United States in 2022, resulting in 609,360 deaths. Breast and lung cancer were the most commonly observed worldwide. Additionally, cardiovascular disease causes about 18.9 million deaths annually, according to a 2020 report released by the Institute for Health Metrics and Evaluation. Increasing research focused on identifying new diagnostic biomarkers is driving the growth of the industry. For example, in February 2022, Japanese scientists found two new diagnostic tissue biomarkers, PHGDH and TRIM29, indicated for malignant pleural mesothelioma.
These remedies can be used to quickly diagnose mesothelioma and help doctors differentiate between mesothelioma and other types of cancer. Additionally, in January 2020, an emerging research study published in the Journal of Nuclear Medicine discussed the potential of several breast cancer biomarkers. A notable and easily identifiable imaging biomarker detected in the study was 18F-FDG-PET. In addition, the COVID-19 pandemic has encouraged the use of biomarkers to facilitate detection and treatment of the disease. For example, in March 2021, a new biomarker-based screening device called Tiger Tech COVID Plus Monitor was approved by the US FDA.
The device can be used to identify biomarkers for COVID-19 and other hypercoagulable and hyperinflammatory diseases in individuals 5 years and older. In addition, various strategic initiatives by leading participants are expected to meet demand. For example, in August 2022, Roche received U.S. FDA approval for the VENTANA MMR RxDx Panel to identify pMMR endometrial cancer patients and dMMR patients with solid tumors who are eligible for treatment with Merck’s Keytruda immunotherapy. This approval for the VENTANA MMR RxDx panel is a label extension of the company’s most recent on-market panel. Also, in December 2021, Siemens Healthineers partnered with Freenome to identify novel markers suitable for the detection of early breast cancer to augment its existing imaging technologies.
Biomarkers Market Segmentation
Grand View Research has segmented the global biomarkers market based on type, application, disease and region
Biomarkers Market – Type Outlook (Revenue, $Bn, 2018-2030)
Validation of safety effectiveness
Biomarkers Market – Application Outlook (Revenue, $Bn, 2018-2030)
Diagnostics Drug research and development Personalized medicine Other
Biomarkers Market – Disease Outlook (Revenue, $Bn, 2018-2030)
Cancer Safety Efficacy Validation Cardiovascular Diseases Safety Efficacy Validation Neurological Diseases Safety Efficacy Validation Immunological Diseases Safety Efficacy Validation Other Safety Efficacy Validation
Biomarkers Market – Regional Outlook (Revenue, $Bn, 2018-2030)
North America Europe UK Germany Spain France Italy Denmark Sweden Norway Asia Pacific Japan China India South Korea Australia Thailand Latin America Middle East & Africa South Africa Saudi Arabia United Arab Emirates Kuwait
List of Major Players of Biomarkers Market
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
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