Reports And Data

The global biomarkers market size is expected to reach USD 130.65 Billion in 2028 at a CAGR of 13.6% during the forecast period

NEW YORK CITY, NY, UNITED STATES, August 18, 2022 /EINPresswire.com/ -- The global biomarkers market size is expected to reach USD 130.65 Billion in 2028 at a CAGR of 13.6% during the forecast period, according to latest report by Reports and Data. Increasing use of biomarkers to detect early effects of therapeutic response and complications of diseases or therapies, enhance safety and efficacy of drugs, and to assess overall status of the disease or medical condition are some key factors expected to contribute to global biomarkers market revenue growth over the forecast period. In addition, growing focus on personalized medicine, rising prevalence of chronic diseases and subsequent need for robust therapeutics, and progress of molecular biology and genomics are some other key factors expected to drive revenue growth of the market.

Biomarkers are defined as markers of biological processes or states and are widely used in research studies to understand the current status or future risk of diseases. Biomarkers offer an approach for homogenous classification of a disease and risk factors and can reflect the entire spectrum of disease from earliest manifestations to terminal stages. Biomarkers are of two major types – biomarkers of exposure and biomarkers of disease. Biomarkers of exposure are often used for risk prediction, and biomarkers of disease are mostly used for screening and diagnosis.

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Over the recent past, rapid progress in molecular biology and laboratory technology have expanded the application scope of biomarkers and contributed to development of approaches that can facilitate the understanding of complex diseases such as neurological disorders. This is expected to further contribute to revenue growth of the market.

Biomarkers have been approved by regulatory agencies such as the U.S. FDA for use as surrogate endpoints in clinical trials and drug development processes. Biomarkers can improve drug development processes and biomedical research, and this has increased their use in phase I and II of clinical trials. This, in turn, is expected to continue to drive market growth. However, difficulties in validation of biomarkers, limitations in their use as surrogate endpoints, and high costs of biomarker testing are some key factors expected to restrain market growth to certain extent over the forecast period.

Some Key Highlights from the Report:

The consumables segment is expected to account for largest revenue share over the forecast period attributable to increasing use of kits in biomarker testing, rising research activities across the globe, and availability of cost-effective consumables and reagents.

The efficacy biomarkers segment is expected to account for significantly large revenue share over the forecast period, which can be attributed to rising application of efficacy biomarkers in evaluation of patient outcomes to specific drugs and therapeutics, to establish tolerability and safety of therapeutics, and in anticancer drug development processes.

The drug discovery and development segment is expected to register considerable revenue growth during the forecast period owing to increasing importance of biomarkers in drug discovery and development. Biomarkers can rapidly predict drug efficacy, increase success rates of drug development programs, and help in determining benefit-risk profiles of therapeutics in development.

The infectious diseases segment is expected to dominate other disease indication segments in terms of revenue share between 2021 and 2028, owing to rising prevalence of infectious diseases across the globe, increasing application of biomarkers for detecting or ruling out infections, and rising numbers of clinical trials to develop biomarker-based approaches for infectious diseases.

North America is expected to account for largest revenue share over the forecast period. Growth of this regional market can be attributed to increasing prevalence of cancer and other chronic diseases, rising R&D activities to expand the application scope of biomarkers, advancements in diagnostic technologies, and rising focus on personalized medicine.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Biomarkers market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Merck Millipore, Enzo Biochem, Inc., Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Meso Scale Diagnostics, LLC, EKF Diagnostics Holdings, Inc., Biosims Technologies SAS, Signosis, Inc., Cisbio Bioassays, and Johnson & Johnson Services, Inc.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Biomarkers Market Segmentation:

Product Outlook (Revenue, USD Billion; 2018-2028)

Consumables
Software
Services

Type Outlook (Revenue, USD Billion; 2018-2028)

Efficacy Biomarkers
Safety Biomarkers
Validation Biomarkers

Application Outlook (Revenue, USD Billion; 2018-2028)

Drug Discovery and Development
Diagnostic
Disease Risk Assessment
Personalized Medicine
Others

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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