The global clinical biomarkers market is expected to reach a market size of USD 38.79 Billion by 2027 and register a CAGR of 10.2% over the forecast period, according to the latest report by Emergen Research.
The global clinical biomarkers market is expected to reach a market size of USD 38.79 Billion by 2027 and register a CAGR of 10.2% over the forecast period, according to the latest report by Emergen Research. The increasing prevalence of chronic diseases and the continuous advancement in diagnostic methods are expected to be the major driving factors for the growth of this market. According to a report by the World Health Organization (WHO), around 362 million people were suffering from depression in 2017, and this number is expected to rise up to 615 million by 2030. Thus, the increasing prevalence of chronic diseases is expected to fuel the demand for clinical biomarkers during the forecast period.
In addition, the continuous advancement in diagnostic methods is another significant factor that is expected to drive the growth of this market. For instance, in September 2019, Siemens Healthineers launched ACUSON Sequoia E ultrasound system that provides new features such as xMARETM, elastography, ShearWave Displacement Imaging (SWDI), and advanced needle visualization. ACUSON Sequoia E ultrasound system is equipped with XRES lines to provide high-resolution images. Such advancement in diagnostic methods is expected to fuel the demand for clinical biomarkers during the forecast period.
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Biomarkers are used for early diagnosis, predicting disease progression, and response to therapy. They can be found in bodily fluids such as blood, urine, saliva, and tissue. The development of new technologies has resulted in the identification of more biomarkers with the potential to be used in clinical practice.
The development of personalized medicine is expected to fuel the demand for clinical biomarkers. Technological advances have resulted in the identification of a large number of potential biomarkers, which is expected to provide significant growth opportunities for the market over the forecast period. However, stringent regulations regarding the approval of clinical biomarkers are expected to restrain the growth of the market to a certain extent.
Some Key Highlights from the Report
- According to the National Cancer Institute, more than 1.7 million people are diagnosed with cancer every year in the United States and the number is expected to grow in the coming years. According to the Centers for Disease Control and Prevention, more than 600,000 people die from heart disease every year in the United States. These factors are expected to drive the growth of the clinical biomarkers market.
- Based on the type, the validation segment is expected to register a CAGR of 10.6% over the forecast period due to extensive use in the development of new drugs and clinical trials. Validation biomarkers are used in drug development to assess the efficacy of new drugs and their safety during clinical trials. The use of validation biomarkers can help reduce the cost and time associated with drug development by enabling early detection of efficacy and safety issues.
- Discovery segment is expected to grow at a CAGR of 9.7% over the forecast period due to rising number of research and development activities and initiatives taken by government and various research organizations to develop innovative biomarker tests.
- In terms of application, oncology segment is expected to hold the largest market share over the forecast period due to increasing prevalence of cancer, government initiatives to spread awareness about cancer and its early diagnosis, and ongoing research & development activities for the development of personalized medicines.
- The cardiovascular segment is expected to grow at the highest CAGR over the forecast period due to increasing prevalence of cardiovascular diseases, rising aging population, and sedentary lifestyle. Cardiovascular diseases are one of the leading causes of mortality globally. As per the World Health Organization (WHO), cardiovascular diseases accounted for 17.9 million deaths in 2016, which is 31% of all global deaths.
- In terms of end user, pharmaceutical and biotechnology companies segment is expected to hold the largest market share over the forecast period due to increasing research and development activities by these companies and rising number of clinical trials. According to National Institutes of Health, in 2016, around 7,000 clinical trials were underway in the U.S. Similarly, according to European Commission, as of February 2017, there were around 233,853 active clinical trials registered across Europe. The number of ongoing clinical trials is expected to increase over the forecast period.
- The market in North America is expected to hold the largest market share over the forecast period due to rising prevalence of chronic diseases and availability of advanced healthcare infrastructure in this region.
- The market in Asia Pacific is expected to grow at a CAGR of 10.1% over the forecast period due to increasing healthcare expenditure and awareness about clinical biomarkers in this region.
- Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Siemens Healthcare Private Limited, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Qiagen, Abbott Laboratories, Epigenomics AG, and Meso Scale Diagnostics LLC are some of the major participants.
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For the purpose of this report, Emergen Research has segmented the global clinical biomarkers market on the basis of type, disease, application, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
- Safety
- Efficacy
- Validation
Disease Outlook (Revenue, USD Billion; 2017–2027)
- Cancer
- Cardiovascular Diseases
- Neurological Diseases
- Immunological Diseases
- Others
Application Outlook (Revenue, USD Billion; 2017–2027)
- Diagnostics
- Drug Discovery & Development
- Personalized Medicines
- Others
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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