Biomarker Market Share Is Anticipated To Reach USD 89.9 billion By 2032 At 10.7% CAGR | Report By Market Research Future
Research Reports
Aug 15, 2023
Biomarkers Market Research Report Information By Product (Consumables, Services, Software), By Type (Safety Biomarkers, Validation Biomarkers, Efficacy Biomarkers), By Application (Diagnostics, Personalized Medicine, Drug Discovery and Development, Disease Risk Assessment), By Disease Indication (Cancer, Neurological Disorders, Cardiovascular Disorders, Immunological Disorders, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032
According to MRFR analysis, the global Biomarker market is projected to grow from USD 47.86 Billion in 2023 to USD 89.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.7% during the forecast period (2023 – 2032).
The biomarker market refers to the market for various types of biomarkers, which are measurable indicators of biological processes or conditions. These indicators can be used for a variety of purposes, such as diagnosing diseases, monitoring disease progression, or evaluating the effectiveness of treatments. The biomarker market includes various types of biomarkers, such as genomic biomarkers, proteomic biomarkers, metabolomic biomarkers, and imaging biomarkers, and is used in various fields such as healthcare, pharmaceuticals, and research.
The demand for biomarkers used in the diagnosis and monitoring of COVID-19 infections has increased significantly. Various biomarkers, such as C-reactive protein, procalcitonin, and interleukin-6, have been identified as potential indicators of COVID-19 severity and disease progression. As a result, the demand for these biomarkers has increased, leading to the growth of the biomarker market. the COVID-19 pandemic has also disrupted the biomarker research and development process, as many clinical trials and studies have been delayed or canceled due to pandemic-related restrictions. In addition, the economic impact of the pandemic has led to reduced funding for biomarker research and development in some cases.
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Market Segmentation
The Global Biomarker market has been segmented into Indication, End User
Based on the Indication, the market has been segmented into Oncology, Cardiology, Neurology, and Others.
Based on the end-user, the market has been segmented into Pharmaceutical & Biotechnology Companies, Diagnostics & Research Laboratories, Hospitals & Specialty Clinics, and Others.
Key Players
Some of the key market players are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., QIAGEN N.V., Bio-Rad Laboratories, Inc., Abbott Laboratories, Siemens Healthineers AG, Agilent Technologies, Inc., PerkinElmer, Inc., Merck KGaA, Danaher Corporation
Regional Analysis
North America is currently the largest market for biomarkers, owing to the presence of a large number of key players, increasing research and development activities, and growing demand for personalized medicine. The United States is the largest contributor to the North American market, with a large number of pharmaceutical and biotechnology companies present in the region.
Europe is the second-largest market for biomarkers, due to the increasing prevalence of chronic diseases, rising demand for personalized medicine, and growing adoption of companion diagnostics. Countries such as Germany, France, and the United Kingdom are major contributors to the European market.
Browse In-depth Market Research Report (165 Pages) on biomarkers: https://www.marketresearchfuture.com/reports/biomarker-market-1941
The Asia-Pacific market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of chronic diseases, rising demand for personalized medicine, and growing government initiatives to promote biomarker research and development in countries like China and Japan. The Asia-Pacific market is also home to several key players in the biomarker market.
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