BIOMARKERS MARKET ANALYSIS

Biomarkers are molecules that are used to diagnose diseases as they show whether a bodily process is normal or abnormal. Biomarkers can be any molecules, including Deoxyribonucleic Acid (DNA), proteins, or hormones, that provide information about one's health. They can be categorized based on a variety of factors, including features like imaging biomarkers or molecular biomarkers. The need for biomarkers is growing in the drug research and development process since their application boosts drug development success rates, lowers costs, and improves patient outcomes. In addition, biomarkers provide a quicker means of predicting therapeutic efficacy than traditional clinical endpoints. Biomarkers is used to study the therapeutic effect of drugs. There are different sub-types of biomarkers such as molecular, radiographic, histological and physiological. Molecular biomarkers have biophysical properties which allows to diagnosed diseases for which sample taken from patients. Radiographic biomarkers are obtained from the imaging studies. Histological and physiological biomarkers shows molecular variation in cells and tissues, and measure of body processes respectively. Prognostic biomarkers help in the detection of the cancer cells and show their progression without being affected by the treatment received. Predictive biomarkers are used to observe the response of therapy.

The Global biomarkers market is estimated to be valued at US$ 55.59 Bn in 2022 and is expected to exhibit a CAGR of 13.6% over the forecast period (2022-2030).

Figure 1: Global Biomarkers Market Share (%) Analysis, By Product Type, 2022

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Global Biomarkers Market– Drivers

Increase in the numbers of research and development initiatives for improving the effectiveness of biomarkers based tests and assays is expected to boost the growth of global biomarker market over the forecast period. For instance, on March 29, 2021, FUJIFILM Wako Pure Chemical Corporation is a manufacturer of laboratory chemicals and automated laboratory solutions, announced the launch of “N501Y mutation detection kit” and “E484K mutation detection kit”. This kits are developed to detect the SARS-CoV-2 mutations.

Increase in the inorganic growth activity such as collaborations among market players is expected to drive the market growth over the forecast period. For instance, in June 2022, Nordic Bioscience and Roche Diagnostics has announced collaboration for development of biomarkers for chronic diseases. Nordic bioscience is a global player in providing biomarkers for lethal and major disease indications for pipeline required during pre-clinical and clinical development. Roche diagnostics India is a division of Roche, providing diagnostic solutions. Under this collaboration, Nordic Bioscience will transfer unique and proprietary blood-based biomarkers to Roche Diagnostics to be implemented on the automated COBAS platform. Nordic bioscience’s extracellular matrix proteins (ECM) biomarkers are used for diagnosis of all chronic diseases.

Global Biomarkers Market- Impact of the Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020. The COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.

The outbreak of COVID-19 has boosted the need of new developments in the biomarkers for better prevention, diagnostic and treatment methods. For instance, an article published by National Center for Biotechnology Information (NCBI) on August 1, 2020, when checking a patient with COVID 19, clinicians found that biomarkers were crucial in starting the treatment and a direct monitoring. This study was based on the reported data which have pre-defined outcomes. This study was done in order to estimate the relation between biomarkers and severity of COVID- 19 outcomes.

Global Biomarkers Market – Restraints

Product recall by market players or regulatory authorities might hamper the growth of global biomarkers market over the forecast period. For instance, on September 01, 2021, Meridian Bioscience is a life science company developing, manufacturing, marketing and distributing various range of diagnostic products. Meridian Bioscience voluntarily recalled its lead care test kits. This kits were recalled due to the "Low-Control” and the "High-Control" control tests were reported to have produced "low" results by Magellan, is a subsidiary of Meridian Bioscience. The affected Lead Care Test Kit batches can understate blood lead levels when processing patient blood samples therefore Magellan started the recall.

Global Biomarkers Market – Regional Analysis

On the basis of region, the global biomarkers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to hold a dominant position in the global biomarkers market during the forecast period owing to increasing product designations by regulatory authorities. For instance, on September 1, 2022, U.S. FDA granted a breakthrough device designation to Roche’s Elecsys Amyloid Plasma panel, which is a blood based Alzheimer’s test. This panel helps healthcare professionals to detect Alzheimer’s at an early stage.

Figure 2: Global Biomarker Market Value (US$ Bn), by Region, 2022

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Global Biomarkers Market – Competitive Landscape

Major players operating in the global biomarkers market include Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc., Wako USA, BioLegend, Inc., Abnova Corporation, and Abbexa