Biomarkers Market Share by Manufacturers, Types and Current Scenario 2021-2024

28th Jan 2021 - The global Biomarkers Market size is expected to value at USD 78.2 billion by 2024. The market is subject to witness a substantial growth due to the growing adoption of the biomarkers in the drug discovery and development along with growing R&D expenditure. Biomarkers are considered as quantifiable molecular alterations that are implemented for the development of highly precise and efficient therapeutic targets.

Factors responsible for the robust market growth of biomarkers, in the recent years, include prevalence of oncology, neurology, and cardiology-related disorders across the globe. Globally, the biomarkers industry is predicted to grow at higher CAGR over the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

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The recent technological advancement coupled with the development of novel products and techniques such as biomarker based-diagnostics are expected to fuel the growth of biomarkers market over the forecast period. Additionally, introduction of advanced diagnostic methods along with higher precision and sensitivity are projected to drive market growth in the upcoming years.

Growing implementation of number of safety biomarkers and increasing approval rate by local and international authorities are predicted to foster market growth in the near future. Development of innovative products such as alanine aminotransferase (ALT) and aspartate aminotransferase (AST), which are capable of detecting toxicity in the kidney and liver, is propelling market demand for biomarker, in the last few years. 

Global Biomarkers Type Outlook (Revenue, USD Million, 2013 - 2024)

    • Safety

    • Efficacy

    • Validation

Global Biomarkers Application Outlook (Revenue, USD Million, 2013 - 2024)

    • Diagnostic

    • Drug Development

    • Personalized Medicine

    • Others

Global Biomarkers Disease Outlook (Revenue, USD Million, 2013 - 2024)

    • Oncology

    • Cardiovascular disease

    • Neurological disease

    • Immunological disease

    • Others

The key players in the biomarker industry are Roche Diagnostics Limited, Abbott Laboratories Incorporations, Agilent Technologies Incorporations, Epigenomics Inc., GE Healthcare, Inc., Johnson & Johnson Co., Thermo Fisher Scientific Incorporations, Bio-Rad Laboratories Incorporations, Siemens Healthcare GmbH, Qiagen N.V., and Merck& Co., Inc.

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The biomarkers industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in medicine & pharmaceutical sector, increase in the R&D funding for drug discovery and testing, the high patient awareness levels regarding the availability of enhanced diagnostics techniques, and existence of well-established healthcare infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the biomarkers market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing target population, strong economic growth, declining cost of clinical trials, rising healthcare infrastructure activities, and significant investment by leading industry players considering potential growth opportunities in the region.

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