Biomarkers Industry worth $93.8 billion in 2029, with a CAGR of 10.2%
The report "Biomarkers Market by Product & Service (Consumable, Software), Type (Safety, Efficacy), Research Area, Technology (NGS, PCR, Mass Spectrometry), Disease (Cancer, Infectious), Application (Diagnostics, Clinical Research) - Global Forecast to 2029", is expected to reach USD 93.8 billion in 2029 from USD 57.7 billion in 2024, at a CAGR of 10.2% between 2024 and 2029.
Browse 696 market data Tables and 54 Figures spread through 532 Pages and in-depth TOC on "Biomarkers Market by Product & Service (Consumable, Software), Type (Safety, Efficacy), Research Area, Technology (NGS, PCR, Mass Spectrometry), Disease (Cancer, Infectious), Application (Diagnostics, Clinical Research) - Global Forecast to 2029"
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Growth in the biomarkers market is mainly driven by the increasing use of biomarkers in drug discovery & development, the growing importance of companion diagnostics, the rising prevalence of cancer, the increasing development of biomarkers for rare diseases, increasing funds and grants for biomarker research, and advancements in omics technologies. However, the high capital investment and extensive timelines for biomarker development, coupled with disease complexity & heterogeneity, are the major factors expected to restrain the growth of this market to a certain extent.
The consumables segment accounted for the largest share by product & service segment in the biomarkers market in 2023.
By product & service, the biomarkers market is categorized into consumables, services, and software. The consumables are further sub-segmented into assay kits, reagents & chemicals, columns & filters. The consumables accounted for the largest share of the global biomarkers market in 2023. Despite their lower individual cost compared to instruments, consumables dominate the market due to their high sales volume and recurring demand in research and clinical settings. Growth is driven by the need for high-quality products to ensure precise results, advancements in biomarker research, and the continuous identification of new biomarkers. As new biomarkers are continuously identified and characterized, the demand for consumables is expected to expand further. This segment’s critical role in genome and proteome research solidifies its importance in the biomarkers market.
The cancer segment accounted for the largest share of the disease indication segment in the biomarkers market in 2023.
Based on the disease indication, the biomarkers market is segmented into cancer, infectious diseases, immunological disorders, neurological disorders, cardiovascular disorders, and other disease indications. In 2023, cancer accounted for the largest share of the biomarkers market, driven by the use of biomarkets in oncology for diagnosis, prognosis, and personalized medicine. Biomarkers also help predict drug response and optimize dosages With rising new cancer cases and deaths globally, biomarkers are crucial for predicting treatment response and optimizing therapies. Increased research funding and advancements in biomarker technologies are fueling market growth. However, challenges such as validation, regulatory hurdles, and high costs persist. The rising prevalence of cancer and focus on precision medicine continue to drive demand for cancer biomarkers.
The North America region accounted for the largest share of the biomarkers market in 2023.
The biomarkers market is segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), the Middle East, and Africa. North America held the largest share of the biomarkets market in 2023, driven by its advanced biopharmaceutical infrastructure, significant R&D investments, and widespread adoption of biomarkers in personalized medicine and cancer diagnostics. The region’s leadership is further reinforced by the presence of major pharmaceutical and biotechnology companies, along with well-established regulatory frameworks supporting innovation. However, stringent regulatory requirements for biomarker validation pose challenges to market expansion. The growing use of biomarkers in drug discovery and development, coupled with increasing funding for biomarker research, continues to propel market growth in the region.
Key players in the biomarkers market F. Hoffmann-La Roche Ltd (Switzerland), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), Abbott (US), QIAGEN (Netherlands), Revvity (US), Laboratory Corporation of America Holdings (US), Charles River Laboratories (US), Bio-Rad Laboratories, Inc. (US), Eurofins Scientific (Luxembourg), BIOMÉRIEUX (France), Agilent Technologies, Inc. (US), JSR Corporation (Japan), Quanterix (US), MESO SCALE DIAGNOSTICS, LLC. (US), EKF Diagnostics (UK), Celerion (US), Standard BioTools (US), Sebia (France), BioAgilytix Labs (US), StressMarq Biosciences Inc. (Canada), NorthEast BioAnalytical Laboratories LLC (US), Signosis, Inc. (US), Serimmune (US), TheraIndx Lifesciences Pvt. Ltd. (India), Synexa Life Sciences BV (Netherlands), Diatech Pharmacogenetics (Italy), Singulex, Inc. (US), R-Biopharm AG (Germany), and Proteome Sciences (UK).
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