Biomarkers Market

Market Overview

The global biomarkers market size was valued at USD 58,448 million in 2021, presumed to reach USD 169,676 million, expanding at a CAGR of 14.25% during the forecast period. 

The utilization of biomarkers in basic and clinical research and clinical practice has become so widespread that their incorporation as primary endpoints in clinical trials is now virtually universally recognized. The term "biomarker" refers to a large subclass of medical indicators – accurate signals of a patient's health observed externally – that may be evaluated precisely and reproducibly. Biomarkers, or biological markers, are physical indicators of a natural condition. A biomarker suitable for detecting a particular illness condition possesses specific properties. Biomarkers are measurable properties of the body. Biomarkers are essential to medication development since clinical trials must quantify the effects of experimental treatments on human subjects. Biomarkers offer a dynamic and potent method for comprehending the range of neurological diseases, with implications in observational and analytical epidemiology, randomized clinical trials, testing and diagnosis, and prognosis.

There are numerous medical applications for biomarkers, and their use will become more common as customized medical care becomes the norm. Biomarkers can determine the patient's response to a particular treatment — or lack thereof — and the likelihood of developing certain medical disorders. The increasing frequency of chronic diseases, developments in the techniques utilized for creating biomarker-based diagnostics, and the expanding geriatric population are anticipated to drive the biomarkers market expansion throughout the forecast period. The utilization of technologically improved equipment for early disease diagnosis is a crucial driver propelling biomarkers market expansion. It is projected that technological advances in clinical diagnostics, particularly molecular diagnostics, will boost the market since they are cost-effective, portable, and offer improved precision.

Market Dynamics

Global Biomarkers Market Drivers

The Growing Investments for Biomarkers

Cancer, cardiovascular disorders, immunological diseases, and neurological diseases are aided by research in creating efficient treatments. It also aids in comprehending how a particular illness can be controlled and identified early. There has been a rise in governmental and private investments in the biomarkers market, it has been noticed. For example, the Alzheimer's Drug Discovery Foundation announced the commencement of a biomarker discovery initiative in 2018. This program's primary objective is to create biomarkers that facilitate the diagnosis of Alzheimer's disease and related dementias, identify novel therapeutic targets, and track the development of the disease. And in 2020, Johnson & Johnson Services, Inc. got a USD 250,000 grant from FARE (Food Allergy Research & Education) to further food allergy biomarker research.

It is envisaged that this award will aid in the future development and validation of allergy biomarkers for the development of therapeutics. This can improve the quality of life for the 32 million Americans who suffer from food allergies. The under-development products are also anticipated to expedite clinical decision-making, allowing for speedier treatments. A USD 60,000 grant was announced in April 2021 to fund biomarker studies for amyotrophic lateral sclerosis and related illnesses. These grants support the development of biomarkers that influence treatment decisions. These results reflect an increasing trend in research toward assisting patients with early therapy.

In addition, new advances in biomarkers, like biomarker signatures, make it easier to treat neurological illnesses. This has enabled non-invasive testing, accelerated drug development, and early diagnosis. Due to these discoveries, technological breakthroughs, and increased investments in biomarkers, the market is projected to experience lucrative growth throughout the forecast period.

Global Biomarkers Market Restraints

The Lack of Reimbursement Policies

Inadequate reimbursement for biomarker tests, particularly cancer biomarker testing, is one of the primary market restraints. This becomes a significant barrier to new biomarkers for deadly conditions like cancer and cardiovascular disease. This may have additional implications for novel biomarker test entrants. Approximately 65 trials were identified by the Centers for Medicare & Medicaid Services under the reimbursement policy. Other tests may not be reimbursed, which provides a barrier to market expansion. The lack of recognition of the information supplied by biomarkers has led to reimbursement issues. This provides an economic obstacle for reimbursement of tests, which differs by nation.

Global Biomarkers Market Opportunities

The Growing Demand for Personalized Medicines

Applications of biomarkers in personalized medicine include diagnosis, prognosis, and the selection of focused therapy. Due to the numerous limitations of conventional diagnostic and treatment processes, personalized medicine has gained popularity over time. Multiple branches of medicine, including oncology and immunology, are moving toward patient-specific treatment based on their genetic markers and clinical characteristics. Personalized medicine determines the optimal course of treatment for each patient. The consumables utilized in biomarker testing allow for the detection of various disorders. Several experimental drugs employ biomarker diagnostic tools as companion diagnostics. Consequently, the increasing need for personalized medications will generate lucrative market prospects for biomarkers.

Regional Analysis

The region-wise segmentation of the global biomarkers market includes North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

North America and Europe will Dominate the Regional Market

North America will command the market with the largest share while growing at a CAGR of 14%. The presence of the FDA is a significant element acting as a driver for advancing the preclinical biomarkers market in this region. This expansion may be traced back to various factors, including an expanding disease burden, an increasingly knowledgeable consumer base, proactive government initiatives, innovative technical advancements, and advances in healthcare infrastructure. For example, in 2020, the Government of Canada provided funding for a research project on COVID-19 biomarkers that totaled USD 78,000. This study aimed to look for biomarkers that could detect COVID-19 in its more severe forms. Such factors are expected to propel the biomarkers market in the North American region.

Europe will expand at a CAGR of 13.4% and hold USD 49,801 million. The presence of major research institutes and active market companies in this region is the primary factor contributing to the region's expansion. The expansion of the market can be attributable to the growing number of collaborations that are taking place between universities in Europe and companies that provide biomarker solutions. It is anticipated that rapid development in the availability of biomarker testing will improve healthcare services in the region, which will, in turn, support market growth. The European Medicines Agency promotes the development of biomarkers under the EU Innovative Medicines Initiative (IMI), a private-public collaboration in which the European Federation of Pharmaceutical Industries and Associations and the European Commission represents the European communities. Both parties must invest 2 billion euros in initiating and executing ISR (in-stent restenosis) initiatives. It is envisaged that the ISR effort will address the current inefficiencies and bottlenecks of the drug development process and accelerate the availability of innovative medications.

Segmental Analysis

The global biomarkers market is classified based on type, application, disease, and region.

Based on type, the categories include Safety, Efficacy, and Validation.

The safety biomarkers section is envisioned to hold the largest market share during the forecast period. Due to the significant possibility of adverse events, safety biomarkers can be employed to personalize patient therapy. They can forecast or identify exposure effects or bad medication reactions. Increased use of safety biomarkers in medication discovery and development is expected to the biomarkers market expansion. The utilization of safety biomarkers in preclinical trials facilitates the selection of drug candidates that are expected to be well-tolerated by humans, reducing the cost and time required for preclinical safety review and drug development. In addition, other biomarkers for safety have been developed and recognized over the years, including those that identify toxicity in the liver and kidney, like alanine aminotransferase and aspartate aminotransferase.

In addition, the safety biomarkers market is predicted to be positively impacted by the rise in the number of people at high risk of developing diseases like cancer, cardiovascular issues, and kidney disorders. Biomarker-based medicines are related to a decrease in the drug attrition rate, which is a factor in sector expansion. There is a significant drug attrition rate throughout clinical development; however, applying safety biomarkers expedites approval, accelerating new entrants.

Based on application, the categories include Diagnostics, Drug Discovery & Development, Personalized Medicine, and Others.

The drug discovery & development section is envisioned to hold the largest market share during the forecast period. Because biomarkers can predict medication efficacy more precisely than conventional clinical endpoints, they offer the potential to expedite drug development for specific disorders. They assist in identifying candidates likely to fail, minimizing the expenses associated with medication development. The FDA has established a submission mechanism to enable the use of biomarkers in the production of pharmaceuticals, and these biomarkers are included on the FDA's critical path opportunities list since they have the potential to accelerate drug development. In addition, the FDA has created an online teaching tool to ensure the incorporation of genetic biomarker information into medicine labels. In addition, using biomarkers in medication development helps minimize drug failure rates during clinical trials. Target or mechanistic biomarkers forecast medication failures early in drug discovery by determining the pharmacological impact on patients. This allows pharmaceutical companies to avoid incurring further resources for additional clinical studies. In addition, pharmaceutical companies are conducting substantial research and development to create targeted therapies.

Based on disease, the categories include Cancer, Cardiovascular Diseases, Neurological Diseases, Immunological Diseases, and Others.

The cancer section is envisioned to hold the largest market share during the forecast period. The segment's dominance is attributable to the increasing demand for speedy and precise diagnostic technologies and the global growth in cancer incidence. In 2018, the World Health Organization estimated that 18.1 million new cases and 9.6 million deaths were attributed to the disease. Globally, cancer is the second most significant cause of death, and approximately 70% of cancer-related fatalities occur in middle- and low-income nations. Utilizing biomarkers to detect cancer, assess prognosis, monitor therapy response, and determine if the cancer is growing resistant to treatment is essential for disease management. New approvals bolster the expansion of the segment. The segment is predicted to be driven by increased demand for tailored medicines and expanding cooperation between pharmaceutical and diagnostic businesses. Because biomarker discoveries are limited to specific forms of cancer, unmet medical needs remain substantial in this area. Exploring new biomarkers for earlier detection is anticipated to lower mortality rates and increase biomarker market demand.

Recent Developments

• In 2022, F. Hoffmann-La Roche Ltd. launched the Elecsys® HCV Duo. Elecsys HCV Duo is the first immunoassay that simultaneously and independently determines the hepatitis C virus (HCV) antigen and antibody status from a single plasma or blood sample from a human.