Biomarkers Market to be Worth $181.03 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Feb. 28, 2023 /PRNewswire/ -- The global biomarkers market size is expected to reach USD 181.03 billion by 2030, registering a CAGR of 13.3% over the forecast period, according to a new report by Grand View Research, Inc. The rising R&D investments by pharmaceutical and biotechnology companies, increasing number of Contract Research Organizations(CROs), and declining cost of clinical trials in emerging economies are the major driving factors for the industry. In addition, key players leverage various strategies to increase their production capabilities and promote the outreach of their product offerings. In June 2022, Paige announced its collaboration with Janssen to evaluate the potential of an (H&E)-based, (AI)-powered biomarker test, developed by Janssen, to screen for actionable FGFR3 and FGFR2 genomic alterations in patients with bladder cancer.

Key Industry Insights & Findings from the report:

• The safety segment held the largest share in 2022 owing to the increased adoption of safety biomarkers in drug discovery and development.
• The efficacy segment will register the fastest growth rate from 2023 to 2030 due to a rise in strategic collaborations for promoting research activities.
• The drug discovery & development segment accounted for the largest share in 2022 due to the extensive R&D efforts taken by leading participants, and the rising adoption of biomarkers in drug discovery.
• The cancer disease segment dominated the industry in 2022. However, the neurological diseases segment is anticipated to record the fastest CAGR over the forecast years.
• Asia Pacific is expected to be the fastest-growing region over the forecast period due to the rising investments by key players and increasing disease prevalence in the region.

Read 150-page market research report, "Biomarkers Market Size, Share & Trends Analysis Report By Type (Safety, Efficacy), By Application (Diagnostics, Personalized Medicine), By Disease (Neurological Diseases, Cancer), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Biomarkers Market Growth & Trends

The increasing prevalence of chronic diseases like cancer, diabetes, and cardiovascular disorders is anticipated to fuel industry growth. According to the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases were registered in the U.S., accounting for 609,360 deaths. Breast and lung cancers were observed as the most common ones worldwide. In addition, according to a report published in 2020 by the Institute for Health Metrics and Evaluation, cardiovascular diseases cause about 18.9 million deaths annually. Increasing research focused on the identification of new diagnostic biomarkers is fueling the industry's growth. For instance, in February 2022, Japanese scientists found two new diagnostic tissue biomarkers, PHGDH and TRIM29, indicated for malignant pleural mesothelioma.

These agents can be used to diagnose mesothelioma quickly and help doctors in differentiating between mesothelioma and other cancers. Moreover, in January 2020, a nascent research study published in the Journal of Nuclear Medicine discussed the potential of several breast cancer biomarkers. A notable and easily identifiable imaging biomarker recognized in the study was 18F-FDG PET. Moreover, the COVID-19 pandemic has encouraged the use of biomarkers for facilitating the detection & treatment of the disease. For instance, in March 2021, a new biomarker-based screening device, named Tiger Tech COVID Plus Monitor, was approved by the U.S. FDA.

The device can be used for the identification of biomarkers for COVID-19 and other hypercoagulable & hyperinflammatory conditions in individuals aged 5 years & above. Furthermore, various strategic initiatives undertaken by leading participants are anticipated to cater to demand. For instance, in August 2022, Roche received the U.S. FDA approval for VENTANA MMR RxDx Panel to detect pMMR endometrial cancer patients and dMMR solid tumor patients eligible for treatment with Merck's immunotherapy Keytruda. This approval for the VENTANA MMR RxDx Panel is a label expansion of the company's recent on-market panel. Also, in December 2021, Siemens Healthineers partnered with Freenome to identify novel suitable markers for the detection of early breast cancer to expand its existing imaging technologies.

Biomarkers Market Segmentation

Grand View Research has segmented the global biomarkers market based on type, application, disease, and region

Biomarkers Market - Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Safety
• Efficacy
• Validation

Biomarkers Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Diagnostics
• Drug Discovery & Development
• Personalized Medicine
• Others

Biomarkers Market - Disease Outlook (Revenue, USD Billion, 2018 - 2030)

• Cancer
• Safety
• Efficacy
• Validation
• Cardiovascular Diseases
• Safety
• Efficacy
• Validation
• Neurological Diseases
• Safety
• Efficacy
• Validation
• Immunological Diseases
• Safety
• Efficacy
• Validation
• Others
• Safety
• Efficacy
• Validation

Biomarkers Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Spain
• France
• Italy
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Thailand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players of Biomarkers Market

• F. Hoffmann-La Roche Ltd.
• Abbott
• Epigenomics AG
• General Electric
• Johnson & Johnson Services, Inc.
• Thermo Fisher Scientific Inc.
• Bio-Rad Laboratories, Inc.
• Siemens Healthcare GmbH
• QIAGEN

Check out more related studies published by Grand View Research:

• Non-alcoholic Steatohepatitis Biomarkers Market - The global non-alcoholic steatohepatitis biomarkers market size is expected to reach USD 5.4 billion by 2030, registering a CAGR of 23.6% during the forecast period, according to a new report by Grand View Research, Inc. The growth of the Non-alcoholic Steatohepatitis (NASH) biomarkers market is attributed to rising prevalence of chronic diseases and rising demand for providing novel diagnostic tools. Nonalcoholic Fatty Liver Disease (NAFLD) is more prevalent in people with specific diseases, such as obesity, and diseases that may be linked to obesity, including type 2 diabetes. One-third to two-thirds of people with type 2 diabetes are projected to have NAFLD.
• Prostate Cancer Therapeutics Market - The global prostate cancer therapeutics market size is expected to reach USD 21.48 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.4% from 2023 to 2030. The growth of the market is attributed to the escalating prevalence of prostate cancer which in turn increases the demand for novel therapeutics. For instance, as per the ACS in 2022, prostate cancer is expected to have 268,490 new cases and lead to the death of 34,500 people worldwide. It affects roughly one out of every eight men at some point in their lives and is more common in older men.
•   Congestive Heart Failure Drugs Market - The global congestive heart failure drugs market size is expected to reach USD 20.23 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 14.60% from 2022 to 2030. The increase in the prevalence of congestive heart failure (CHF), the rising aging population leading to increased risk of disease, and growing research and development for better treatment approaches are the key factors augmenting the growth. In 2020, around 64.34 million people worldwide were suffering from heart failure. In addition, its estimated prevalence rate is high in patients with diseases such as diabetes and hypertension.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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