The global biomarkers market is projected to reach USD 78.1 billion in 2026 from USD 43.1 billion in 2021 at a CARG of 12.6%. Growth in the biomarkers market is mainly driven by factors such as the growing importance of companion diagnostics, increasing prevalence of cancer worldwide, increasing funds & grants for biomarker research, and continuous product innovations.
Prominent 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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F. HOFFMANN-LA ROCHE LTD. (SWITZERLAND)
F. Hoffmann-La Roche is the leading player in the biomarkers market and accounted for the largest share of 20-25% in 2020. The company’s Diagnostics Division develops, manufactures and supplies a wide array of medical diagnostic products, tests, platforms and technologies for oncology, cardiology, virology, microbiology and blood screening tests. The company majorly focuses on organic growth strategies such as product innovations to enhance its position in the biomarkers market. The 2020 sales of F-Hoffman La Roche’s various COVID-19-related tests were USD 2.77 billion. The revenue of cobas SARS-CoV-2 PCR tests, combined with other COVID-19-related tests in the Molecular Diagnostics segment, was USD 2.24 billion. The launch of the SARS-CoV-2 Rapid Antigen test in late September 2020, combined with other related tests in Centralised and Point of Care Solutions, was estimated to be ~ USD 0.53 billion. Additionally, in April 2021, the company also received US FDA approval of the VENTANA MMR RxDx Panel for advanced endometrial cancer patients.
THERMO FISHER SCIENTIFIC INC. (US)
Thermo Fisher Scientific is a major player in the biomarkers market and accounted for 15-20% of the biomarkers market in 2020. The company offers biomarker products through its Life Sciences Solutions and Specialty Diagnostics segment. In 2020, the sales of products that address COVID-19 testing and treatment totaled ~ USD 6.63 billion. The increase in revenue was primarily driven by increasing demand for testing for the diagnosis of COVID-19. Additionally, in the last three years, the company adopted several organic strategies such as product launches, expansions, and inorganic strategies, including partnerships, agreements, and collaborations with academic research institutes and pharmaceutical & biotechnology companies.
Biomarkers Market by Product (Consumable, Service), Type (Safety, Efficacy, Validation), Disease (Cancer (Solid & Liquid Biopsy), Neurological), Application (Diagnostics, Drug Discovery & Development, Personalized Medicine) - Global Forecast to 2026
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