Biomarkers Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Product (Consumables, Services, and Software); Type (Safety Biomarkers, Efficacy Biomarkers, Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamics Biomarkers, Prognostic Biomarkers, and Validation Biomarkers); Application (Diagnostics, Drug Discovery & Development, Personalized Medicine, Disease Risk Assessment, Other Applications); Disease Indication (Cancer, Solid Biopsy, Liquid Biopsy, Infectious Diseases, Immune Disorders, Neurological Disorders, Cardiovascular Disorders, Other Disease Indications); Region and Country
Biomarkers Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of XX% during the forecast period (2021-2027). Biological molecules found in blood, tissues or other body fluids which is a sign of normal or abnormal process or of a condition or disease. A biomarker can be used to see how well the body is responding to a treatment for a disease or condition. This is called molecular marker and signature molecule. Biomarkers are being used in clinical medicine since decades. With the rise of genomics and other advances in molecular biology, studies on biomarkers have entered a new era and hold promise for early diagnosis and effective treatment of many diseases. A biomarker is a characteristic that is objectively measured and evaluated as an indicator of normal biological processes, pathogenic processes or pharmacological responses to a therapeutic intervention. They can be classified into five categories based on their application in different disease stages : 1) antecedent biomarkers are used to identify the risk of developing an illness; 2) screening biomarkers, for screening of subclinical diseases; 3) diagnostic biomarkers which can recognize overt diseases; 4) staging biomarkers to categorize the severity of disease; and 5) prognostic biomarkers to predict the future disease course, including recurrence, response to therapy, and monitoring efficacy of therapy.
Biomarkers can indicate a variety of health or disease characteristics, including the level or type of exposure to an environmental exposures, markers of subclinical or clinical diseases, or indicators of response to therapy.
The major factors for this increase in the demand for diagnostic markets where conventional diagnostic tools were focused on producing accurate and consistent results. There are significant challenges in presenting accurate results in the early stages of diseases, especially in the case of cancer. Diagnostic biomarkers are minimally or non-invasive tools. Biomarkers which are integrated with key imaging and data management technologies is meeting the market expectations, however, they also have a few setbacks. Biomarkers are used in imaging technology to provide clear imaging of oncology tumors and other problems and also eliminate chance of radiation exposure during imaging through CT scan and MRI scan. Diagnostic biomarkers are non-invasive or minimally invasive tools. Biomarkers, which are integrated with key imaging and data management technologies, is meeting the market expectations, however, has setbacks too. Biomarkers are used in imaging technology to provide clear exposure during imaging through CT scan and MRI scan. Companion diagnostics and biomarkers have become increasingly relevant in the practice of medicine, which leads to improved diagnosis, monitoring and treatment across several disease areas. It can be used to identify, patients who are likely to respond well to certain drugs or treatment options. These diagnostics are often used in conjunction with a specific drug. For instance, the Oncomine Dx Target Test (Thermo Fisher Scientific, Inc.) helps in biomarker testing of non-small cell lung cancer (NSCLC) patients eligible for ROZLYTREK (entrectinib).
Key Stages of Biomarker Research (%), 2020
Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, QIAGEN N.V., PerkinElmer, Inc., Merck KGaA, Bio-Rad Laboratories, Inc., Enzo Biochem, Inc., Charles River Laboratories International, Inc., and Eurofins Scientific are some of the prominent players operating in the Biomarkers market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product, Consumables segment holds the major share”
Based on Product, the Biomoarkers Market is segmented into Consumables, Services, and Software. Increase of consumables is because of the increase in the use of kit based products for biomarker testing and the repeated purchase of consumables. Use of biomarkers has become an integral part of both disease detection and treatment. The detection of biomarkers in pre-symptomatic patients leads to the ability to start treatment in early stages of disease, thus drastically improving outcomes.
“Amongst Type, Efficacy Biomarkers Segment holds the major share”
Based on Type, the Biomarkers Market is segmented into Safety Biomarkers, Efficacy Biomarkers, Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamics Biomarkers, Prognostic Biomarkers, and Validation Biomarkers. Efficacy biomarkers indicate clinical outcomes of patients or beneficial effect of a given treatment. For efficacy prediction, general prediction markers for certain therapy strategies (e.g. antihormone treatment in breast cancer) can be differentiated from real companion diagnostic biomarkers (CDx). CDx are co-developed with a certain drug and their application is often listed as mandatory in the drug label.
“Amongst Application, Diagnostics segment holds the major share”
Based on Application, the Biomarkers Market is segmented into Diagnostics, Drug Discovery & Development, Personalized Medicine, Disease Risk Assessment, and Other Applications. Biomarkers are increasingly being used for the diagnosis of diseases like cancer, infectious diseases, cardiovascular disorders and neurological disorders. This is driving the growth of the diagnostics segment in the biomarkers market. For example, people with diabetes have a two to four fold increased risk of developing cardiovascular diseases, and stroke, and these complications account for 65% of mortality from diabetes.
“Amongst Disease Indication, Cancer category holds the major share”
Based on Diseases Indication, the Biomarkers Market is segmented into Cancer, Infectious Diseases, Immune Disorders, Neurological Disorders, Cardiovascular Disorders, and Other Disease Indications. Cancer category is further segmented into Solid biopsy and Liquid Biopsy. There are many potential applications of biomarkers in oncology, including differential diagnosis, risk assessment, screening, determination of prognosis, prediction of response to treatment and monitoring of progression of disease. Biomarkers play critical roles in all stages of disease, it is important that they undergo rigorous evaluation, including analytical validation, clinical validation and assessment of clinical utility, prior to incorporation into routine clinical care. With the help of these tools biomarkers can help expedite the cancer detection and intervention process, which is important as the number of cancer cases is rising globally at a significant rate.
“North America represents one of the largest markets of Biomarkers market”
For a better understanding of the market dynamics of the Biomarkers market, a detailed analysis was conducted for different regions across India including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. North America dominated the market and grabbed around XX% market share owing to increasing chronic diseases in the region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Biomarkers Market|
|2.2.||Research Methodology of the Biomarkers Market|
|2.5.||Main Objective of the Biomarkers Market Study|
|3||MARKET SYNOPSIS (INDUSTRY AT A GLANCE)|
|5||BIOMARKERS MARKET COVID-19 IMPACT|
|6||BIOMARKERS MARKET REVENUE (USD BN), 2019-2027F|
|9.2.||Drug Discovery & Development|
|9.4.||Disease Risk Assessment|
|10.1.||Cancer by Test Type|
|10.6.||Other Disease Indications|
|11.1.||NORTH AMERICA BIOMARKERS|
|11.1.3.||Rest of North America|
|11.2.6.||Rest of Europe|
|11.3.5.||Rest of Asia-Pacific|
|11.4.||REST OF THE WORLD BIOMARKERS|
|13||BIOMARKERS MARKET OPPORTUNITIES|
|14||BIOMARKERS MARKET TRENDS|
|15||LEGAL AND REGULATORY FRAMEWORK|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|16.2.1.||Top Product Launches|
|16.2.2.||Top Business Partnerships|
|16.2.3.||Top Business Expansions, Investments and Divestitures|
|16.2.4.||Top Merger and Acquisitions|
|17||VALUE CHAIN ANALYSIS|
|18.1.1.||Company Shares, By Revenue|
|19.1.||F. Hoffmann-La Roche Ltd.|
|19.2.||Thermo Fisher Scientific Inc.|
|19.7.||Bio-Rad Laboratories, Inc.|
|19.8.||Enzo Biochem, Inc.|
|19.9.||Charles River Laboratories International, Inc|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Biomarkers market were the three major steps undertaken to create and analyze the adoption of Biomarkers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Biomarkers market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Biomarkers through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Biomarkers market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as Product, Type, Application, and Disease Indication. Further country-level analyses were conducted to evaluate the overall adoption of Biomarkers in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Biomarkers. Further, we conducted factor analysis using dependent and independent variables such as increased prevalence of chronic diseases and easier diagnosis of diseases with biomarkers. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Biomarkers sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Biomarkers market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Biomarkers across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Biomarkers market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Biomarkers market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Biomarkers market.
The main objective of the Biomarkers Market Study
The current & future market trends of Biomarkers were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Biomarkers in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and their subtypes
- Define and analysis of the regulatory framework for the Biomarkers industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Biomarkers market for the major region
- Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World.
- Company profiles of the Biomarkers market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry