Global Biomarkers Market, by Product Type (Biomarkers Test Kits, Biomarker Analyzer), by Application (Diagnostic Biomarkers, Monitoring Biomarkers, Drug discovery and development, Predictive biomarkers, Prognostic biomarkers), by Disease Indication (Cancer, Cardiovascular disorders, Neurological Disorder, Infectious Disease, Others (Immunological Disorder, and Autoimmune Disorders among others )), by End User (Hospitals, Research laboratories, Diagnostic laboratories, Research and academic institute), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 55.59 Bn in 2022 and is expected to exhibit a CAGR of 13.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The rising need of biomarkers in different fetal disease such as rheumatic fever, is expected to drive the growth of global biomarkers market over the forecast period. For instance, on September 19, 2022, the Leducq Foundation is a private foundation based in Paris, France which is funding collaborative research in cardiovascular diseases and stroke. Awarded an US$ 8 million grant to a cooperative network headed by Cincinnati Children's Hospital Medical Center to support a research that aims to find and validate biomarkers for acute rheumatic fever (ARF). The first sensitive and precise diagnostic test for ARF, which starts a gradual but progressive process of heart valve destruction known as rheumatic heart disease, will be based on these biomarkers.
Global Biomarkers Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic, which first appeared on December 31, 2019, in Wuhan, China, is the most recent pandemic. On March 11, 2020, the World Health Organization classified COVID-19 as a pandemic. The Coronavirus Illness (COVID-19) published by the World Health Organization estimates that around the world over 614.85 Mn confirmed cases have been identified.
Furthermore, the COVID-19 pandemic and lockdowns in various countries across the globe have significantly impacted the healthcare sector. Increase in research and development in COVID-19 pandemic for potential use of biomarkers is expected to drive the growth of global biomarkers market over the forecast period. For instance, on September 8, 2021, an article published in Multidisciplinary Digital Publishing Institute (MDPI) stated that Clara Cell Secretory Protein (CC16) is potential biomarker for the lung epithelial injuries in most of the pulmonary diseases including, chronic obstructive pulmonary disease (COPD), asthma, idiopathic pulmonary fibrosis, acute respiratory distress syndrome (ARDS), and sarcoidosis.
Browse 40 Market Data Tables and 48 Figures spread through 197 Pages and in-depth TOC on “Global Biomarkers Market”- Global Forecast to 2030, Global Biomarkers Market, by Product Type (Biomarker Test Kits, Biomarker Analyzer), by Application(Diagnostic Biomarkers, Monitoring Biomarkers, Drug discovery and development, Predictive biomarkers, Prognostic biomarkers), by Disease Indication ((Cancer, Cardiovascular disorders, Neurological Disorder, Infectious Disease, Others (Immunological Disorder, Autoimmune Disorders among others)), by End User (Hospitals, Research laboratories, Diagnostic laboratories, Research and Academic Institute), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
Moreover, new biomarkers approvals by the U.S. Food and Drug Administration (FDA) and other regulatory authorities are the key factors in the betterment of biomarkers. For instance, on December 7, 2021, F. Hoffmann-La Roche Ltd, a Switzerland-based company developing and integrating diagnostic solutions. F. Hoffmann-La Roche Ltd launched its newest breast cancer biomarker, using artificial intelligence which is based on digital pathology algorithm. This new algorithm of Roche digital pathology breast panel of image analysis algorithms.
Key Takeaways of the Global Biomarkers Market:
- Global biomarkers market is expected to exhibit a CAGR of 13.6% during the forecast period. Increase in the number of grants and funding provided by government agencies and government, private, and semi-private institutes has been a key factor in the new developments of biomarkers. For instance, on May 13, 2022, the U.S. Food and Drug Administration (FDA) awarded Quanterix, breakthrough device designation for developing a blood test that predicts the risk of disease activity in patients with relapsing-remitting multiple sclerosis (RRMS). The test contains the results of Phd .Dr. Tanuja Chitnis, (Investigator-Initiated Research Award Winner) Professor of Neurology, Brigham and Women's Hospital, Harvard Medical School from Community Disability Management and Rehabiliation Programme (CDMRP) Multiple Sclerosis Research Program (MSRP).
- 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