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Overview and Growth Potential of the Biomarkers Market
Biomarkers are used to measure biological processes, conditions, and disease progression. They provide a thorough understanding of the disease. The market is experiencing significant growth due to the rising focus on drug development and disease management. Biomarkers have the ability to improve existing medicines and play a crucial role in drug discovery. They are also used to tailor treatments for individuals based on their molecular profiles. Biomarkers, being the personal tracker of the patient’s disease and its progress, can also interpret a patient’s response and evaluate whether a specific therapy is effectively treating that disease or not.
Biomarkers are in high demand since they are utilized to measure the effectiveness of drugs during clinical trials. Various types of biomarkers are used depending on the applications. Molecular biomarkers are used to measure biological samples, such as plasma, serum, cerebrospinal fluid, bronchoalveolar lavage, and biopsy. Radiographic biomarkers help in disease diagnosis and detection. Moreover, histologic biomarkers determine biochemical or molecular alteration in cells, tissues, or fluids. The biomarker-driven approach is in demand for its short-time clinical process which fastens up product development and regulatory approval. The rising number of clinical trials is expected to contribute to the growth of the market.
Major Trends in the Biomarkers Market
- Increasing Cases of Chronic Diseases: The rising cases of chronic diseases, such as diabetes, cancer, and cardiovascular diseases (CVDs), worldwide is a major factor boosting the growth of the market. Biomarkers play a key role in disease detection. Moreover, they predict disease progression, helping in personalized treatment plans. Biotech companies are focusing on developing vitality biomarkers that can track or measure a person’s vitality to address several diseases. It will enable medical professionals to detect early symptoms of the disease to prevent it from progressing further.
- High Demand for Precision Medicines: With the growing burden of diseases, there is a high demand for precision medicines, which significantly drives the growth of the market. Biomarkers are used to identify patient profiles who are more likely to benefit from specific medicines. Moreover, biomarkers are used to tailor treatments based on patients’ profiles. The rising investments in personalized treatments further contribute to market expansion.
- Rising Usage of Advanced Biomarkers: There is rapid growth in the adoption of advanced biomarkers, such as imaging biomarkers. These biomarkers are effective in providing quick results. They are efficient in tracking changes at the cellular or molecular level in real-time, thereby providing tangible metrics of disease progression or regression.
- Technological Advancements: Ongoing advancements in technology led to innovations in biomarker discovery. This further enhances the accuracy and efficacy of biomarker-based tests. Moreover, technological advancements led to the development of neuroimaging biomarkers. These biomarkers detect brain atrophy associated with Alzheimer’s disease.
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Insights from Key Regions
North America to Sustain the Market Dominance
In 2023, North America dominated the biomarkers market with the largest share in 2023. This is primarily due to the presence of state-of-the-art research and development facilities in the region. The region is home to numerous leading pharmaceutical and biotechnology companies, which play a crucial role in advancing research and development initiatives and bringing innovations in biomarker discovery. The market in the region also benefited from its well-established healthcare infrastructure that allows for efficient delivery of healthcare services and facilitates the integration of new technologies. The rising investments in research and development from both the public and private sectors support the continuous development of biomarkers. Moreover, the rising demand for personalized medicines contributes to regional market expansion.
Asia Pacific is the Fastest-growing Region in the Biomarkers Market
Asia Pacific is projected to witness the fastest growth in the market throughout the forecast period. This is mainly due to the rising prevalence of chronic diseases, such as diabetes, CVDs, and cancer. According to the World Health Organization (WHO), chronic diseases are among the leading causes of death in Southeast Asia, accounting for 62% of all deaths per year. Moreover, rising healthcare expenditures can positively impact the market. As healthcare expenditures continue to rise, there is a heightened need for effective diagnostic tools and treatments. The significant increase in government funding for R&D further boosts the market. In addition, the rising focus on drug discovery and development and the increasing need for targeted therapies are expected to fuel the growth of the market in the region.
Biomarkers Market Segmentation
- By type, the safety biomarkers segment dominated the market in 2023 due to their increased adoption in personalized treatments. Safety biomarkers are used to measure the likelihood, presence, or levels of toxicity as an adverse effect when exposed to a medical product or an environmental agent. These biomarkers are also used to evaluate drug safety. The rise in demand for novel drugs further bolstered segmental growth. On the other hand, the efficacy biomarkers segment is projected to grow rapidly in the near future. The segment growth is attributed to the rising demand for efficacy biomarkers in monitoring patient responses to a specific drug. Moreover, these biomarkers can predict disease progression.
- By disease, the cancer segment led the market in 2023. This segment growth is mainly driven by the increase in cancer diagnoses. Biomarkers help detect cancer at an early stage, further allowing doctors and patients to make informed decisions. On the other hand, the neurological diseases segment is expected to grow at the fastest rate during the forecast period. The rising prevalence of neurodegenerative diseases, such as Alzheimer's disease, is likely to contribute to segmental growth.
- By application, the drug discovery & development segment dominated the biomarkers market in 2023 due to the increase in investments in drug development. However, biomarkers are essential in evaluating drug efficacy and safety.
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Competitive Landscape
The market continues to evolve rapidly, with 2024 witnessing rapid developments in the market. Key players competing in the market are Abbott, Alto Neuroscience, Inc., Hanmi Pharmaceutical, Hoffmann-La Roche Ltd., Johnson & Johnson, Labcorp Biopharma, MEDiC Life Sciences, Qiagen, Regeneron, Sanofi, Siemens Healthineers, Thermo and Fisher Scientific. These companies are using business development strategies, such as partnerships and collaborations, to drive innovation to the market.
In February 2024, Abbott and Fujirebio entered into a partnership to develop a research use only (RUO) neurofilament-light chain (Nf-L) neurology biomarker assay for use on Abbott’s Alinity i. Abbott will make the RUO assay available to researchers conducting studies demonstrating the utility of the Nf-L biomarker.
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Recent Developments
- In October 2024, ADx NeuroSciences and Alamar Biosciences entered into a partnership to provide customized blood-based biomarker assay solutions to accelerate biopharma clinical development.
- In July 2024, Scipher Medicine launched a new approach to develop biomarkers following the publication of the novel, patent-pending framework PRoBeNet (Predictive Response Biomarkers using Network medicine).
Segments Covered in the Report
By Type
- Safety Biomarkers
- Efficacy Biomarkers
- Validation Biomarkers
By Disease
- Cancer
- Neurological Diseases
- Immunological Diseases
- Cardiovascular Diseases
- Others
By Application
- Drug Discovery & Development
- Personalized Medicines
- Diagnostics
- Others
By Region
- North America
- U.S.
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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