DUBLIN–(BUSINESS WIRE)–The “Global Biomarkers Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, Application, Disease and Regions” report has been added to ResearchAndMarkets.com’s offering.
The Global Biomarkers Market is expected to record a positive CAGR of ~12% during the forecast period (2022-2028), due to the rising prevalence of chronic and neurodegenerative diseases.
The ongoing Covid-19 pandemic significantly impacts plasma and sera proteomes, which holds a promising result for the faster recognition of biomarkers for diagnosis, prognosis, and/or therapeutic targeting in the ongoing rapidly growing pandemic that necessitates a rapid scientific response thereby benefitting the market.
The growing popularity of remote technologies such as wearables and mobile applications is fuelling the digital biomarker market (DBMs) growth. Additionally, increasing digitization across the healthcare industry has transformed medical science, diagnostics, and therapeutics, resulting in rapid advancements in the development and adoption of Digital Health Technologies (DHT) by the healthcare continuum.
For instance, according to Oracle Cerner, a Texas-based technology company, the digital health innovation space has grown significantly over the last ten years. Global financial and corporate markets invested USD 44 billion in 2021, up from USD 2 billion in 2011.
The emergence of advanced technologies such as artificial intelligence (AI) is likely to create new opportunities for the biomarkers providers, as AI can assist clinicians in identifying risk factors for developing heart failure, monitoring care, defining prognosis, and creating druggable targets.
For instance, in May 2022, Imagene AI, an Israel-based digital biomarker company, received USD 21.5 million in funding to emphasize precision medicine in cancer care. In February 2022, Koneksa, a U.S.-based company that designs digital biomarkers, raised USD 45 million in Series C financing to accelerate the emergence of its digital biomarker platform.
Individual privacy concerns and the lack of validation procedures are expected to hinder the biomarkers market’s growth.
Furthermore, it is difficult to foresee how the Covid-19 virus will manifest in an individual as the symptoms of the virus range from mild fever and cough to acute respiratory distress syndrome (ARDS) and death, and the virus has an impulsive course. This variability has prompted an urgent pursuit for biomarkers of disease severity to deal with patients appropriately and prevent fatal complications.
Competitive Landscape
The Global Biomarkers Industry is highly competitive with ~800 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in pharma and diagnostics solutions, and technologies, such as vitro analyses of DNA variation, RNA expression, metabolite quantification, vivo measurements of biological processes, and others, for end-user industries.
The biomarkers market’s growth is heavily reliant on technological advancement and R&D investment. Nowadays, numerous pharmaceutical companies, including Pfizer, Roche, Merck, Novartis, and Johnson & Johnson are investing in R&D or drug research, and governments are also making significant investments in cancer research.
Country-Niche players control about ~77% of the market, while regional players hold a share of ~18%. Some of the major players in the market include F. Hoffmann-La Roche Ltd., Abbott Laboratories, BD, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Epigenomics AG, Johnson & Johnson Services, Inc., PerkinElmer Inc., Enzo Biochem, Inc., General Electric and among others.
Recent Developments Related to Major Players and Organizations
In March 2022, Roche, a Switzerland-based pharmaceuticals company, announced its collaboration with Bristol Myers Squibb, a pharmaceutical industry company based in the United States, to promote the development of two biomarkers for use in drug testing through the development and deployment of two new digital pathology algorithms for biomarker analysis and clinicians
In August 2022, Thermo Fisher Scientific, a U.S.-based manufacturer of analytical laboratory instruments, launched CE-IVD (IVDD), a next-generation sequencing test and analysis software to improve accessibility to precision oncology biomarker testing
In August 2022, Qiagen, a German provider of sample and assay technologies for molecular diagnostics, introduced new next-generation sequencing (NGS) solutions, ‘QIAseq Targeted DNA Pro Panels’ and ‘the QIAseq UPXome RNA Library Kit’ which significantly improve DNA variant detection and RNA sequencing of moderate samples.
In February 2022, the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium, a non-profit organization based in the United States, initiate a new project entitled ‘Neurofilament as a Fluid Biomarker of Neurodegeneration in Familial Frontotemporal Degeneration (FTD)’ to determine an adequate blood test to assess a protein that is essential in the early detection of rare neurodegenerative disorders.
In February 2022, Abbott Laboratories, a medical device company located in the United States, launched consumer bio wearables named ‘Lingo,’ which can track body sensory information to help users better understand their overall health and take measures to improve it.
Conclusion
The Global Biomarkers Market is forecasted to continue an exponential growth that is witnessed since 2019, during the forecast period also, primarily driven by the rising prevalence of chronic and neurodegenerative diseases and the growing popularity of remote technologies such as wearables and mobile applications. Though the market is highly competitive with over ~800 participants, few country-niche players control the dominant share.
Key Topics Covered in the Report
- Snapshot of Global Biomarkers Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Biomarkers Market
- Historic Growth of Overall Global Biomarkers Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Biomarkers Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid-19 Impact on the Overall Global Biomarkers Market
- Future Market Forecast and Growth Rates of the Total Global Biomarkers Market and by Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Biomarkers Market
- Major Production/Consumption Hubs within Each Region
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Frequently Asked Questions
What is the Study Period of this Market Report?
- The Global Biomarkers Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022-2028
What is the Future Growth Rate of the Global Biomarkers Market?
- The Global Biomarkers Market is expected to witness a CAGR of about 12% over the next 6 years
What are the Key Factors Driving the Global Biomarkers Market?
- The rising prevalence of chronic and neurodegenerative diseases and the growing popularity of remote technologies such as wearables and mobile applications are expected to be the primary drivers of this market
Which is the Largest Application Segment within the Global Biomarkers Market?
- The diagnostics segment holds the largest share of the Global Biomarkers Market
Who are the Key Players in Global Biomarkers Market?
- F. Hoffmann-La Roche Ltd
- Abbott Laboratories
- BD
- Bio-Rad Laboratories, Inc
- Thermo Fisher Scientific Inc
- Epigenomics AG
- Johnson & Johnson Services, Inc
- PerkinElmer Inc
- Enzo Biochem, Inc
- General Electric
- Centogene N.V
- Axon Medchem
- Imagene AI
- Sino Biological, Inc
- R&D Systems, Inc
- Rules-Based Medicine
- Signosis Inc
- EKF Diagnostics
- Agilent Technologies, Inc
- AbbVie
For more information about this report visit https://www.researchandmarkets.com/r/ms40qv
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