Biomarkers Market Size, Share, Growth (CAGR of 11.5%), Opportunity, Report 2023-2028
Biomarkers Market Size
The rising incidences of various chronic diseases, including tumors, cancer, cardiovascular ailments, etc., are primarily driving the biomarkers market
SHERIDAN, WYOMING, UNITED STATES, April 19, 2023 /EINPresswire.com/ -- The latest research study “Biomarkers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global biomarkers market size reached US$ 68.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 139.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.5% during 2023-2028.
Biomarkers, alternatively referred to as biological markers, are molecules or genes that are utilized as indicators of the health and status of an organ, cell, or tissue. They are available in several types, including efficacy, safety, and validation. Biomarkers play a crucial role in enhancing the drug development process, sample preparation and assay development, and drug validation and testing. They prove extremely effective in risk assessment, molecular diagnostics, DNA fingerprinting, disease diagnosis, eliminating complexity, etc. Consequently, biomarkers find widespread applications in numerous sectors such as pharmaceutical, biotechnology, healthcare, etc.
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Biomarkers Market Trends and Drivers:
The rising incidences of various chronic diseases, including tumors, cancer, cardiovascular ailments, etc., are primarily driving the biomarkers market. Additionally, the increasing advancements in biomarker-based diagnostics, such as biomarker signatures resulting in early diagnosis, faster drug development, and non-invasive testing, are also positively influencing the global market. Besides this, the growing utilization of biomarkers to develop companion diagnostics for identifying drug target molecules and the shifting preferences toward personalized medicines are acting as significant growth-inducing factors. Moreover, the escalating inclination on biomarker studies from conventional pathophysiology and epidemiology methods and the elevating number of contract research organizations facilitating cost-effective clinical trials are further propelling the market growth. Apart from this, the inflating medical expenditure, especially in developing countries, and the emerging trend of integrating biomarkers with key imaging technologies that can offer clear images of oncology tumors and other problems and eliminate the possibility of radiation exposure during computed tomography (CT) scans and magnetic resonance imaging (MRI) scans are expected to catalyze the biomarkers market in the coming years.
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Biomarkers Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Charles River Laboratories International Inc.
• Epigenomics AG
• Eurofins Scientific SE
• Merck KGaA
• Perkinelmer Inc.
• Qiagen N.V
• Quanterix Corporation
• SphingoTec GmbH
• Thermo Fisher Scientific Inc.
The report has segmented the market on the basis of product, type, disease, application and end user.
Breakup by Product:
• Consumables
• Services
• Software
Breakup by Type:
• Efficacy Biomarkers
• Safety Biomarkers
• Validation Biomarkers
Breakup by Disease:
• Cancer
• Cardiovascular Disorders
• Neurological Disorders
• Immunological Disorders
• Renal Disorders
• Others
Breakup by Application:
• Diagnostics
• Drug Discovery and Development
• Personalized Medicine
• Others
Breakup by End User:
• Pharmaceutical and Biotechnology Companies
• Diagnostic and Research Laboratories
• Hospitals and Specialty Clinics
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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