Biomarkers Market to be Worth $201.33 Billion by 2031

Biomarkers Market Size, Share, Forecast, & Trends Analysis by Type (Efficacy, Validation, Safety) Mechanism (Genetic, Epigenetic, Proteomic) Technology (ELISA, Microarray, PCR, NGS), Offering, Application, Disease Type, End User – Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled,'Biomarkers Market Size, Share, Forecast, & Trends Analysis by Type (Efficacy, Validation, Safety) Mechanism (Genetic, Epigenetic, Proteomic) Technology (ELISA, Microarray, PCR, NGS), Offering, Application, Disease Type, End User – Global Forecast to 2031.'

According to this latest publication from Meticulous Research^®, the global biomarkers market is projected to reach $201.33 billion by 2031 at a CAGR of 14.3% from 2024 to 2031. The growth of this market can be attributed to various factors, such as the increasing pharmaceutical research spending, rising prevalence of target diseases, technological advancements in biomarker detection, rising focus on clinical research, increasing funding for biomarker research, rising focus on early disease diagnosis, and application of biomarkers in multiple areas. However, high capital investment for biomarker discovery and a lengthy timeline for biomarker development restrain the market’s growth.

Furthermore, a rising focus on companion diagnostics, ongoing research on biomarkers, and a shift toward precision oncology are expected to offer growth opportunities. However, the challenges associated with biomarker validation and technical issues related to sample collection and storage are major challenges for the market’s growth.

Key Players

The key players operating in the global biomarkers market are F. Hoffmann-La Roche AG (Switzerland), Merck KGaA (Germany), Epigenomics AG (Germany), Abbott Laboratories (U.S.), QIAGEN N.V. (Germany), Bio-Rad Laboratories (U.S.), Revvity Inc (U.S.), Siemens Healthineers AG (Germany), Mindray (China), Thermo Fisher Scientific Inc. (U.S.), Eurofins Scientific SE (France), bioMérieux SA (France), Agilent Technologies, Inc. (U.S.), and Quanterix Corp. (U.S.).

Biomarkers Market: Future Outlook

The global biomarkers market is segmented by Biomarker Type (Efficacy Biomarkers [Prognostic Biomarkers, Pharmacodynamic Biomarkers, Surrogate Biomarkers, Predictive Biomarkers], Validation Biomarkers, and Safety Biomarkers), Offerings (Consumables [Assay Kits, Reagents, Other Consumables], and Services & Software), Mechanism (Genetic Biomarkers, Epigenetic Biomarkers, Proteomic Biomarkers, Lipidomic Biomarkers, and Other Mechanisms), Profiling Technology (Immunoassay [ELISA, Western Blot, Protein Microarray], NGS, PCR, Mass Spectrometry, Chromatography, and Other Technologies), Disease Type (Oncology, Cardiovascular Diseases, Infectious Diseases, Neurological Disorders, Diabetes and Other Metabolic Diseases, Other Diseases), Application (Diagnostics, Drug Discovery and Development, Personalized Medicine, Clinical Research, and Other Applications), End User (Pharmaceutical & Biotechnology Companies, Hospitals, Diagnostic Laboratories, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes the market at the global and regional levels.

Among all the biomarker types studied in this report, in 2024, the safety biomarkers segment is expected to account for the largest share of the biomarkers market. Safety biomarkers offer potential benefits throughout drug discovery & development. They help evaluate potential risks due to new compounds and adverse effects in early drug development phases. The use of safety biomarkers results in potential cost savings in drug development phases. Thus, the rising need to curb R&D expenses is driving the demand for safety biomarkers.

Among all the offerings studied in this report, in 2024, the consumables segment is expected to account for the largest share of the biomarkers market. The large share of the segment is attributed to the increasing use of biomarker reagents & kits for early disease diagnosis. Additionally, the wide availability of consumables, recurring use of biomarker assay kits, and increasing adoption of these kits by researchers during drug discovery and clinical trials to assess the toxicity are contributing to the large share of the segment.

Among all the mechanisms studied in this report, in 2024, the epigenetic biomarkers segment is expected to account for the largest share of the biomarkers market. Epigenetic biomarkers are used in a range of applications, such as disease diagnosis and prognosis, treatment response prediction, and personalized medicines. Epigenetic biomarkers are used in drug development for identifying potential drug targets and evaluating the efficacy of epigenetic drugs. The growing focus on epigenetic therapies in cancer research is supporting the large share of the market.

Among all the profiling technologies studied in this report, in 2024, the immunoassay segment is expected to account for the largest share of the biomarkers market. The large share of the segment is attributed to the high sensitivity and specificity of immunoassay, relatively lower cost, high flexibility & accessibility, and technological advancements. One such technological advancement in immunoassays is the use of multiplex immunoassays in clinical research. Multiplex immunoassay can analyze multiple biomarkers from a single sample, thus reducing the cost and improving the efficiency of biomarker profiling.

Among all the disease types studied in this report, in 2024, the oncology segment is expected to account for the largest share of the biomarkers market. The rising prevalence of cancer, increasing funding for oncology biomarker research, and increasing focus on precision oncology are the factors supporting the large share of the segment. The advance the research in precision oncology, pharmaceutical and biotechnology companies are raising funds. For instance, in January 2024, Anbogen Therapeutics, a clinical-stage biotechnology company based in Taiwan, completed Series A funding. The lead investor was China Development Industrial Bank (CDIB), with significant contributions from Taiwan Venture Capital, Maxpro, and the National Development Fund (Business Angel Investment Program and Implementation Project for Strengthening Investment in SMEs), with a total investment of approximately USD 12.5 million. The raised capital is intended to be used in the ongoing development of Anbogen's two main drug candidates, ABT-101 and ABT-301, for cancer therapy.

Among all the applications studied in this report, the diagnostics segment is projected to witness the highest growth rate during the forecast period of 2024–2031. The high CAGR of the segment is attributed to the availability of biomarker testing for a wider range of diseases, the rising prevalence of target diseases, and the increasing efficiency of biomarkers in clinical diagnostics. Key players are also introducing biomarker testing kits for clinical diagnostics. For instance, in October 2023, Lucent Diagnostics, a diagnostics brand of Quanterix Corporation (U.S.), launched the High Accuracy P-Tau 217 Blood Biomarker test to aid the diagnosis of Alzheimer’s disease.

Among all the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the biomarkers market. Pharmaceutical & biotechnology companies use biomarkers in drug discovery & development to enhance efficacy and safety. Rise in the number of compounds in clinical trials, rising spending on pharmaceutical R&D, and growing disease burden are driving the adoption of biomarkers for drug discovery.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Belgium, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America, and Middle East & Africa.

Among all the regions studied in this report, Asia-Pacific is slated to register the highest growth rate during the forecast period. The growth of the region is attributed to the increasing funding for drug discovery & development, rising prevalence of chronic diseases, increasing healthcare spending, rising focus on personalized medicine, and rising pharmaceutical R&D spending. Expansion of CROs in Asia-Pacific also contributes to market growth. For instance, in March 2024, TFS HealthScience (TFS) (Sweden), a global CRO, announced expansion into the Asia-Pacific region with the establishment of an operational base in Melbourne, Australia.

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Key questions answered in the report-

Which are the high-growth market segments in terms of biomarker type, offering, mechanism, profiling technology, disease type, application, end user, and region/country?
What was the historical market size for the biomarkers market globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the global biomarkers market?
Who are the major players in the global biomarkers market?
What is the competitive landscape like, and who are the market leaders in the global biomarkers market?
What are the recent developments in the global biomarkers market?
What are the different strategies adopted by the major players in the global biomarkers market?
What are the geographical trends and high-growth regions/countries?

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