The biomarkers market revenues were estimated at US$ 59.1 Bn in 2021 and is anticipated to grow at a CAGR of 15.3% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 278 Bn.
Safety Biomarkers held a market share of nearly 38% and this trend is likely to be continued due to the predicted CAGR of 15.9% in the next ten years. Market growth is expected to be fueled by the growing demand for Safety Biomarkers owing to its demand being driven by high awareness of regular health checks, low usage of medicines, and an increasing population at high risk of developing various diseases such as cancer, cardiovascular and kidney ailments.
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Key Takeaways from the Market Study
- Global biomarkers market is expected to reach a market size of US$ 278 Bn by 2032.
- In 2022, North America to contribute more than 30% market revenue.
- Safety Biomarkers demand accounted for 38% of the market revenue in 2022
- Cancer detection show the highest potential for growth in the disease type segment. It is expected to grow at a rate of about 17.1% from 2022- 2032.
- S., the key market is expected to hold the prominent market share and grow at a CAGR of 16.7% during 2022 – 2032.
A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.
- In May 2021, the Cerascreen KRAS RGQ PCR kit, the first FDA-approved diagnostic tissue sample to identify KRAS G12C mutations in QIAGEN NV NSCLC tumors and expand precision medical options for lung cancer, was launched.
- In April 2021, F. Hoffmann La Roche Ltd. Introduced two cardiac biomarker tests, the sensitive cardiac troponin T (cTnThs) and the N-terminal pro-brain natriuretic peptide test (NTproBNP). These gold standard biomarkers support the management of cardiovascular disease and may help physicians diagnose heart attacks and better manage heart failure.
- In July 2020, Thermo Fisher Scientific signed a contract with to expand the use of the targeted Oncomin-Dx test in patients with non-small cell lung cancer (NSCLC) and accelerate local biomarker
- In January 2020, Merck KGaA opened a non-profit high-tech capacity development center in Chandigarh, India, in collaboration with the Institute for Microbial Technology (CSIRIMTECH) of the Scientific and Industrial Research The center is has single-molecule biomarker detection, genome editing, and other technologies to help onsite students gain life science skills.
Which Country Topped the Revenue Generation for Biomarkers Market?
The U.S. dominated the market in 2021 with a market share of over 55%. This is due to increased R & D investment and the local presence of global players.
Over the last decade, the number of USFDA-approved drug labels containing molecular biomarker information has increased significantly. In addition, almost all pharmaceutical companies have developed molecular biomarker programs through partnerships or other ventures.
Molecular biomarkers are identified and validated in drug development and used to support drug approval. Approval of such drugs has helped grow the U.S. kidney biomarker market. The American Cancer Society reports that 609,640 people have died of cancer in the country. In 2018, 234,030 cases of lung cancer occurred in the United States, and 154,050 people died of lung cancer.