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The global biomarkers market was valued at $45 billion in 2021 and is expected to reach $86 billion by 2027.
Chicago, April 27, 2022 (GLOBE NEWSWIRE) -- According to the latest research report by Arizton, the biomarkers market will grow at a CAGR of over 11% during 2022-2027. Digital biomarkers have become an exciting new tool for advancing precision medicine and supporting clinical trials. They are collected using digital devices that are portable, wearable, implantable, or digestible. Digital biomarkers can be objective, quantifiable, physiological, and behavioral measures. Digital biomarkers have majorly impacted the neurology field. In neurology, several digital biomarkers are being tested for feasibility and reliability in Parkinsons and Alzheimer's disease and clinical outcome assessments.
With the emergence of innovative technologies, the identification and validation of a biomarker are becoming key elements of personalized medicine. For example, in cancer, personalized medicine uses specific biomarker information that has been measured from a persons tumor to help plan treatment regimes, monitor a treatments response, or aid in determining a prognosis.
BIOMARKERS MARKET REPORT SCOPE
REPORT ATTRIBUTE
DETAILS
MARKET SIZE (2027)
$86 Billion
CAGR (2022-2027)
Over 11%
BASE YEAR
2021
FORECAST YEAR
2022-2027
LARGEST MARKET
North America
FASTEST MARKET
Europe
MARKET SEGMENTATION
Indication, Application, Type, and Geography
REGION
North America, Europe, APAC, Latin America, and Middle East & Africa
COUNTRIES COVERED
US, Canada, Germany, France, UK, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, Argentina, Turkey, South Africa, and Saudi Arabia
KEY VENDORS
Abbott, bioMrieux, Biohit Oyj, Centogene, Creative Diagnostics, F. Hoffmann-La Roche, Fujirebio, GE Healthcare, TAmiRNA
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The biomarker approach in developing personalized medicine helps in clinical decisions, personalized therapies, and improved research and development (R&D) models. Developing and providing access to novel personalized medicine products and services are only part of what is needed to achieve better human health by tailoring treatment based on the presence or absence of specific biomarkers.
Story continues
Increased Discovery of Epigenetic Biomarkers in Oncology
Epigenetics, genomic, and epigenomic technologies have opened new and promising landscapes for healthcare professionals, enabling them to diagnose and monitor diseases more precisely, effectively, and rapidly. It is obvious that epigenetics is revolutionizing the potential of biomedicine and clinical diagnostics, therefore, contributing to the future development of precision medicine.
Key Offerings:
Market Size & Forecast by Volume | 20212028
Market Dynamics Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation A detailed analysis by indication, application, type, and geography
Competitive Landscape 9 key vendors and 22 other vendors
To know more! https://www.arizton.com/market-reports/biomarkers-market
Key Insights
Biomarkers in the field of oncology have revolutionized diagnostics and treatment pathways. Oncology indications constitute of largest share because biomarkers are being largely used for cancer research and diagnostics due to their high prevalence worldwide.
Diagnostics dominated the application segment. However, the application of biomarkers in drug discovery & development is expected to grow significantly during the forecast period because biomarkers studies are expected to become an integral part of the drug development process with the aim of developing more effective drugs at a lower cost
North America is the largest market for biomarkers. The increase in R&D expenditures and funding for biomarker-driven drug discovery & development and precision medicine is one of the major driving factors.
APAC is anticipated to exhibit the highest CAGR of 13.96% during the forecast period. Increasing developments and incorporation of advanced technologies to enhance biomarker-based testing and increasing demand for biomarkers in drug development is driving the demand in APAC.
The COVID-19 pandemic had a negative impact on the market. Several biomarkers research activities got postponed as most of the research activities were focused on COVID-19 indications.
Market Segmentation
Indication
Oncology
Cardiology
Neurology
Immunology
Others
Application
Type
Diagnostic Biomarker
Monitoring Biomarker
Prognostic Biomarker
Predictive Biomarker
Susceptibility Biomarker
Other Biomarker
Region
North America
Europe
Germany
France
UK
Italy
Spain
APAC
Japan
China
India
South Korea
Australia
Latin America
Middle East & Africa
Turkey
South Africa
Saudi Arabia
Competition Overview
The biomarkers market is highly dynamic, with the presence of several global, regional, and local players engaged in biomarkers discovery and development in collaboration with several research organizations. The growth of the biomarkers market majorly depends on advancements in technology and investments in R&D to discover and develop more biomarkers. Global players are focusing on developing more biomarkers and expanding their product portfolio to remain competitive in the market. The key players are also engaged in strategic acquisitions as part of their inorganic growth strategy to remain competitive and grow in the market. Through mergers & acquisitions, major players continue to expand their market shares. Furthermore, they are also growing through partnerships and collaborations with several research organizations to develop biomarkers for new testing strategies.
Explore our healthcare lifesciences profile to know more about the industry.
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Digital biomarkers - An Emerging tool in precision Medicines. The Biomarkers Market to Reach $86 Billion by 2027 - Arizton - Yahoo Finance
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