Biomarkers Market worth $104.0 billion in 2028
The report "Biomarkers Market by Product & Service (Consumable, Service, Software), Type (Safety, Efficacy, Validation), Disease (Cancer, Infectious, Neurological), Application (Diagnostics, Drug Discovery, Personalized Medicine), Region - Global Forecast to 2028", is expected to reach USD 104.0 billion in 2028 from USD 59.1 billion in 2023 at a CARG of 12.0%. Factors driving growth in the market include, extensive R&D efforts by leading participants, increasing adoption of biomarkers in drug discovery, the growing importance of companion diagnostics, increasing burden of cancer worldwide, growing funding activities for biomarker research and product innovations, and strategic alliances in biomarkers discovery.
Browse 252 market data Tables and 44 Figures spread through 255 Pages and in-depth TOC on "Biomarkers Market by Product & Service (Consumable, Service, Software), Type (Safety, Efficacy, Validation), Disease (Cancer, Infectious, Neurological), Application (Diagnostics, Drug Discovery, Personalized Medicine), Region - Global Forecast to 2028"
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The Cancer segment accounted for the largest share of the disease indication segment in the biomarkers market in 2022.
On the basis of disease indication, the biomarkers market is segmented into cancer, infectious diseases, neurological disorders, immunological disorders, cardiovascular disorders, and other disease indications. In 2022, the cancer segment accounted for the largest share of the biomarkers market. Factor responsible for the large share of this segment can be attributed to the increasing burden of cancer and growing prevalence of the disease across the globe.
In 2022, in the biomarkers market, safety biomarkers accounted for the largest share of the by type segment.
Based on the type, the biomarkers market is divided into validation biomarkers, efficacy biomarkers, and safety biomarkers. The safety biomarkers segment accounted for the biggest share in the biomarkers market in 2022. Factors responsible for the growth in segment includes, increasing awareness in the population with growing diseases such as cancer, cardiovascular disease, and kidney disease led to a large market share for safety biomarkers in the global biomarkers market.
In 2022, the Asia Pacific region is the fastest-growing region of the biomarkers market
In 2022, the Asia Pacific region accounted for the fasted growing region of the biomarkers market. Factors responsible for the growth of this segment is primarily due to the growing use of biomarkers for diagnostic purposes, the increasing prevalence of chronic diseases, favorable government initiatives, and the growing focus on genomic & proteomic research projects.
Some of the leading players operating in the biomarkers market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (US), Abbott Laboratories (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (US), Enzo Biochem, Inc. (US), Charles River Laboratories International, Inc. (US), and Eurofins Scientific (Luxembourg).
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