Biomarkers Market worth $78.1 billion in 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 22, 2021 /PRNewswire/ -- According to the new market research report "Biomarkers Market by Product (Consumable, Service), Type (Safety, Efficacy, Validation), Disease (Cancer (Solid & Liquid Biopsy), Neurological), Application (Diagnostics, Drug Discovery & Development, Personalized Medicine) - Global Forecast to 2026", published by MarketsandMarkets™, the global Biomarkers Services Market is expected to reach USD 78.1 billion in 2026 from USD 43.1 billion in 2021 at a CARG of 12.6%.
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The Growth in the biomarkers services market is mainly driven by factors such as the growing importance of companion diagnostics, increasing prevalence of cancer worldwide, growing funding activities for biomarker research, and product innovations.
The infectious diseases segment accounted for the largest share of the disease indication segment in the biomarkers market in 2020.
Based on disease indication, the market is segmented into cancer, infectious diseases, neurological disorders, immunological disorders, cardiovascular disorders, and other disease indications. In 2020, the infectious diseases segment accounted for the largest share of the market. The large share of this segment can be attributed to the growing prevalence of infectious diseases, coupled with the outbreak of the COVID-19 pandemic.
The efficacy biomarkers segment accounted for the largest share of the type segment in the biomarkers market in 2020.
Based on type, the biomarkers services market is segmented into efficacy biomarkers, safety biomarkers, and validation biomarkers. In 2020, the efficacy biomarkers segment accounted for the largest share of the global market. The large share of this segment can be attributed to the ability of these biomarkers to evaluate the therapeutic efficacy of drug products.
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The Asia Pacific region is the fastest-growing region of the biomarkers market in 2020.
In 2020, the Asia Pacific region accounted for the fasted growing region of the market. The growth of this segment is primarily due to the increasing use of biomarkers for diagnostic purposes, the growing prevalence of chronic diseases, favorable government initiatives, and the growing focus on genomic & proteomic research projects.
Some of the leading players operating in the biomarkers market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (US), Abbott Laboratories (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (US), Enzo Biochem, Inc. (US), Charles River Laboratories International, Inc. (US), and Eurofins Scientific (Luxembourg).
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