Biomarkers Market Set to Soar with 11.2% CAGR, Predicts US$ 134.2 Million by 2033

PORTLAND, OREGON, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- Biomarkers are measurable indicators that serve as objectifiable and quantifiable signs of biological processes, disease states, or responses to therapeutic interventions within an organism. They play a crucial role in the field of healthcare, such as in aiding in disease diagnosis, prognosis, and monitoring treatment efficacy. Moreover, biomarkers facilitate the development and evaluation of new drugs and therapies by enabling researchers to measure their impact on biological systems.

According to the report, the global biomarkers market size was valued at $46.4 billion in 2023, and is projected to reach $134.2 billion by 2033, growing at a CAGR of 11.2% from 2024 to 2033.

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In addition, the rise in prevalence of chronic diseases is expected to contribute significantly to the growth of the biomarkers industry. According to a 2023 report by the National Library of Medicine, it was reported that biomarkers exploration is essential in detecting diseases as it helps predict, diagnose, identify, treat diseases, and understand disease processes.

Biomarkers Statistics:

Disease diagnosis segment is expected to register highest growth during the forecast period and is one of the major biomarkers market trends.

The assay development segment is expected to register the highest growth during the forecast period.

Asia-Pacific is expected to witness the highest CAGR during the forecast period.

The high development cost of biomarkers stands as a significant restraint for the growth of the biomarkers market.

Factors that drive the growth of the biomarkers market size include a rise in geriatric population and surge in demand for companion diagnostics. Technological advancements in the field of biomarkers have emerged as a major driver for the biomarkers market share. According to the World Health Organization, it was estimated that by 2030, 1 in 6 people in the world are expected to be aged 60 years or over.

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Recent Developments in Biomarkers Industry:

In February 2024, Abbott Laboratories and Fujirebio announced a partnership to develop a research use only (RUO) neurofilament-light chain (Nf-L) neurology biomarker assay for use on Abbott’s Alinity i.

In January 2024, Merck KGaA announced that it entered into a collaboration with Quibim, the global company transforming imaging data into actionable predictions of cancer progression and treatment response. The two companies explore how to harness the potential of biomarkers and radiomics to predict a cancer patient’s response to immunotherapy and predict cancer patient outcomes.

In December 2023, GE HealthCare announced it has the lead industrial role in the European consortium project Predictom, a pioneer venture to use real-world data (RWD) coupled with artificial intelligence (AI) screening to advance identification of those with early signs of Alzheimer’s disease. The predictom project aims to develop a digital platform that is expected to aggregate participant RWD in different screening stages, including imaging, blood, cerebrospinal fluid, electrophysiological, and digital biomarkers.

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Market Segmentation:
The biomarkers market can be segmented based on various criteria, including:

Type of Biomarker:

Protein Biomarkers
Genetic Biomarkers (DNA, RNA, microRNA)
Metabolic Biomarkers
Imaging Biomarkers
Cellular Biomarkers
Other Biomarkers (e.g., epigenetic biomarkers, circulating tumor cells)

Application:

Disease Diagnosis (e.g., cancer, cardiovascular diseases, neurological disorders)
Drug Discovery and Development
Personalized Medicine
Risk Assessment and Prediction
Prognostic and Predictive Biomarkers
Therapeutic Monitoring
Other Applications (e.g., environmental monitoring, agriculture)

End User:

Hospitals and Clinics
Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Academic and Research Institutes
Contract Research Organizations (CROs)
Other End Users

Technology:

Immunoassays (ELISA, Western blotting, multiplex assays)
Molecular Assays (PCR, next-generation sequencing)
Imaging Technologies (PET, MRI, CT)
Mass Spectrometry
Flow Cytometry
Other Technologies

Disease Area:

Oncology
Cardiovascular Diseases
Neurological Disorders
Infectious Diseases
Autoimmune Disorders
Metabolic Disorders
Other Disease Areas

Geography:

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

Key Player Analysis:

F. Hoffmann-La Roche AG
Revvity, Inc.
Qiagen N.V
Thermo Fisher Scientific
Bio-Rad Laboratories, Inc.
Siemens AG
Merck KGaA
GE Healthcare
Agilent Technologies Inc.
Abbott Laboratories

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