Biomarkers Market size is set to grow by USD 56.26 billion from 2023-2027, Abbott Laboratories, Abcam plc and Agilent Technologies Inc., and more to emerge as Some of the Key Vendors, Technavio
NEW YORK, April 22, 2024 /PRNewswire/ -- The global biomarkers market size is estimated to grow by USD 56267.85 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 13.05% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 38%.
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Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
Abbott Laboratories, Abcam plc, Agilent Technologies Inc., Becton Dickinson and Co., BG Medicine Inc., Bio Techne Corp., CENTOGENE NV, Charles River Laboratories International Inc., DiaSorin Spa, EKF Diagnostics Holdings Plc, Eurofins Scientific SE, F. Hoffmann La Roche Ltd., General Electric Co., Merck KGaA, Meso Scale Diagnostics LLC, Nexus Dx Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, Thermo Fisher Scientific Inc.
Analyst Review
The Biomarkers Market is experiencing significant growth due to the increasing demand for companion diagnostics in the detection and treatment of various fatal diseases. This market is witnessing substantial research investments in the areas of Prostate and Lung cancer, Infectious disease diagnosis, Neurological diseases, and Cardiac problems. Product innovations and biomarker advancements are crucial in early detection, enabling the identification of the physiological state of cells and the activation of active genes. Smoking, unhealthy food habits, and physical inactivity are major contributors to the development of these diseases, making the identification of molecular markers, protein products, and organic compounds essential for regular cell health monitoring. Funds and grants from various organizations continue to fuel the development of new technologies and research in this field.
Key Market Drivers
The Biomarkers Market is experiencing significant growth due to the rising prevalence of cardiovascular diseases, particularly in emerging economies. According to The Lancet, heart disease is a leading cause of death for most racial and ethnic groups. Biomarkers, including efficacy, safety, and validation markers, play a crucial role in diagnostics, disease risk assessment, and drug discovery for various diseases, including cardiovascular disorders, infectious diseases, neurological disorders, and immunological disorders. Consumables, services, software, and molecular markers, such as natriuretic peptides and C-reactive protein, are key components of the biomarkers market. Early detection of diseases, including cancer, through non-invasive examinations and invasive biopsies, is a significant application of biomarkers. Contract research organizations and the biopharmaceutical sector are major segments covered in the market. Companies mentioned in the market include those specializing in biomarker research and development, such as Roche, Abbott, and Thermo Fisher Scientific. The market for safety biomarkers in the neurological diseases segment is expected to show significant growth due to the increasing focus on successful treatment and healthcare infrastructure development.
Challenges and Opportunities
The Biomarkers Market faces substantial challenges in the areas of cancer, companion diagnostics, and infectious disease diagnosis due to high research investments required for infrastructure, equipment, and skilled personnel. Sophisticated laboratory facilities and advanced technologies are essential for performing biomarker assays with accuracy. Notable diseases with significant biomarker research include prostate and lung cancer, neurological diseases, and cardiovascular disorders. Digital biomarkers are emerging in various fields, such as heart failure and cardiac problems, with companies like Amgen, ImmunoGen, and Roche leading the way. Funds and grants, product innovations, and biomarker advancements are crucial for overcoming these challenges. Fatal diseases like bowel cancer and smoking-related illnesses necessitate continued research. In vitro diagnostics, personalized medicines, and emerging economies are also significant market sectors. The Lancet, PLOS Journal, Nature Journal, and SSI Strategy are key publications for biomarker research. Efficacy, safety, and validation biomarkers are essential for disease risk assessment and diagnostics in various fields, including infectious diseases, neurological disorders, and immunological disorders. Consumables, services, software, and consumables are essential components of the biomarkers market.
The global biomarkers market is experiencing significant growth due to the increasing number of research and development programs and new product launches in the biopharmaceutical sector. Biomarkers, including molecular markers, proteins, and organic compounds, play a crucial role in drug discovery and disease diagnosis, particularly in cancer. Early detection of cancer and other fatal diseases through non-invasive examinations is a major focus, with biomarkers enabling the identification of active genes and protein products indicative of a regular or cancerous state. Recent advancements include the BC-116 biomarker panel for primary bladder cancer detection, reducing the need for frequent cystoscopies. The Neurofilament project by the FNIH Biomarkers Consortium aims to determine effective blood tests for early detection of neurological diseases. Drug development for chronic ailments, such as cancer, prostate, and lung, is a significant market segment, with companies like Amgen, ImmunoGen, and NeoGenomics investing heavily. Biomarkers also play a role in companion diagnostics, ensuring successful treatment and safety. Segments covered include cancer, neurological diseases, and infectious disease diagnosis. The healthcare infrastructure continues to evolve, with digital biomarkers gaining importance. The PLOS Journal and Nature Journal have published numerous studies on biomarkers for bowel cancer and other diseases. Contract research organizations support these efforts, ensuring rigorous testing and validation.
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Market Overview
The Biomarkers Market represents a significant segment of the diagnostic and therapeutic industries. These markers, derived from various body fluids and tissues, play a crucial role in identifying diseases and monitoring their progression. The Compounds and Compositions, Digestive System, Infectious Diseases, Neurology, and Oncology sectors are major contributors to the Biomarkers Market. Prostates, Cards and Cardiovasculars, Functions, Proteins, and Biomarkers are essential components of this market. The use of advanced technologies like Mass Spectrometry, ELISA, and PCR in Biomarker discovery and validation is driving market growth. The market is segmented by Technology, Application, End User, and Region. The market is expected to grow at a steady pace due to increasing research and development activities, rising healthcare expenditures, and the growing geriatric population.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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