The biomarkers market size was estimated at US$ 82.35 billion in 2023 and is projected to grow to US$ 366.6 billion by 2034, rising at a compound annual growth rate (CAGR) of 14.54% from 2024 to 2034. The rising incidences of chronic disorders, growing research and development, and increasing investments drive the market.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5322
Biomarkers or biological markers are molecules found in blood, body fluids, or tissues that explain what is happening in a cell or organism. They are used to perform clinical assessments and monitor and predict health states in individuals. For instance, high levels of lead in the bloodstream may indicate a need to test for nervous system and cognitive disorders, especially in children. Biomarkers play a crucial role in determining relationships between environmental exposures, human biology, and disease. A biomarker can also act as a diagnostic measure that examines the organ function or other aspects of health when introduced into an organism. Biomarkers can also aid in disease prognosis by providing information about the patient’s overall outcome, regardless of any treatment or therapeutic intervention.
The rising incidence and prevalence of chronic disorders potentiates the demand for finding the root cause of the disease and aiding in novel drug discovery and development. The growing research and development boost biomarkers research. The market is also driven by increasing investments from both government and private organizations, and collaborations augment the market.
In 2023, North America held the largest share of the biomarkers market. The region benefits from cutting-edge research, supportive government policies, increasing chronic disease rates, and the presence of major players. For instance, the US FDA promotes the integration of biomarkers in medical product development and approval, accelerating the progress of promising new therapies. Canada’s ongoing national human biomonitoring survey, led by Statistics Canada in partnership with Health Canada and the Public Health Agency of Canada, further supports the market. Additionally, the region’s continuous focus on drug discovery contributes to the market’s growth.
The Asia-Pacific region is expected to experience the fastest growth in the biomarkers market in the coming years. This is fueled by a rise in chronic diseases, a growing focus on research and development, and increased investments and collaborations. The increasing rates of cancer and neurological and immunological disorders are boosting demand for biomarkers, particularly in disease diagnosis and drug discovery. For example, China has over 15 million people aged 60 and above living with dementia, while India reports 8.8 million cases. Japan is also seeing significant numbers, with around 3.9 million cases of dementia in 2023. The rising geriatric population, rapid urbanization, and shifting demographics are driving substantial demand for biomarker research in the region.
In 2023, the safety biomarkers segment dominated the global biomarkers market. These biomarkers help identify the potential toxicity of a drug or environmental exposure, playing a crucial role in early clinical trials. By assessing the safety of therapeutics early in development, they help determine whether a drug should progress from preclinical to clinical testing.
Efficacy biomarkers, which indicate a drug’s therapeutic effects, are projected to grow the fastest in the coming years. These biomarkers track early disease progression or pharmacological responses, providing valuable insights into a drug’s potential effectiveness.
Cancer continues to be the dominant disease segment in the biomarkers market, driven by the increasing incidence of cancer, its complexity, rapid mutations, and the growing demand for personalized medicine. Biomarkers are essential in cancer diagnosis, prognosis, and predicting the likelihood of disease recurrence, regardless of the treatment approach.
The neurological diseases segment is expected to experience strong growth in the coming years, fueled by an aging population and the rising prevalence of disorders such as Alzheimer’s and Parkinson’s diseases. As these conditions become more common, the need for biomarkers to assist in diagnosis and treatment is increasing.
The drug discovery and development segment was the largest in 2023, as biomarkers provide crucial insights into disease mechanisms. This understanding aids in the development of new drugs. Growing awareness, alongside increased investments and collaborations, is expected to continue driving growth in this area.
Discover our detailed Table of Contents (TOC) for the Industry, providing a thorough examination of market segments, material, emerging technologies and key trends. Our TOC offers a structured analysis of market dynamics, emerging innovations, and regional dynamics to guide your strategic decisions in this rapidly evolving healthcare field – https://www.towardshealthcare.com/table-of-content/biomarkers-market-sizing
To own our research study instantly, Click here @ https://www.towardshealthcare.com/price/5322
You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com
About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
Explore the comprehensive statistics and insights on healthcare industry data and its associated segmentation: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare
C-Reactive Protein Testing Market Key Companies, Trends, and Growth Outlook The global market for C-reactive protein (CRP) testing is valued… Read More
Insulin Delivery System Market: Key Players, Developments, and Future Outlook The global insulin delivery system market is valued at US$… Read More
Antacids Market Companies, Leaders, Announcements and Trends The global antacids market is projected to reach USD 7.47 billion in 2024… Read More
AI in Precision Medicine Market Growth, Trends and Key Insights The AI in precision medicine market is set to grow… Read More
Non-Invasive Blood Glucose Monitoring Systems Market Growth The global non-invasive blood glucose monitoring system market is expected to grow from… Read More
Next Generation Sequencing Market Outlook (2024-2034) The global Next Generation Sequencing (NGS) market is expected to grow significantly in the… Read More