Biomarkers are highly valuable in medical imaging as they offer minimally or non-invasive means of obtaining crucial information. Integrating advanced imaging and data management technologies, biomarkers enable clear and precise imaging of oncology tumors and other medical conditions. This reduces the need for radiation exposure associated with conventional imaging methods like MRI and CT scans, enhancing patient safety and comfort. This reveals that using biomarkers in imaging technology addresses the demand for safer and more accurate diagnostic tools, driving the growth and adoption of biomarker-based imaging solutions in the healthcare industry.
According to Data Bridge Market Research, the Biomarkers Market was valued USD 43.13 million in 2022, and is expected to reach USD 153.34 million by 2030, and is expected to undergo a CAGR of 14.90% during the forecast period
“Growing problem of cancer drives the market”
The increasing burden of cancer worldwide has propelled the significance of biomarkers in fighting this disease. Biomarkers are key in enabling early detection, accurate diagnosis, treatment selection, and disease monitoring. Through biomarker-based screening techniques, such as blood tests and liquid biopsies, specific biomarkers associated with different types of cancer can be identified. This facilitates timely intervention and treatment when cancer is more curable. Moreover, biomarkers can provide insights into the likelihood of treatment response, helping healthcare professionals personalize therapies and improve patient outcomes, particularly with targeted medicines and immunotherapies.
What restraints the growth of the biomarkers market?
“Strict regulatory frameworks hinder the market”
The utilization of biomarker-based diagnostics in clinical practice is subject to strict regulatory frameworks. These regulations ensure biomarker tests' safety, efficacy, and reliability before they can be used for diagnostic, prognostic, or predictive purposes. Different countries have their own regulatory bodies, but the Food and Drug Administration (FDA) in the United States plays a significant role in overseeing the approval process. The FDA evaluates biomarker tests based on rigorous standards to ensure their accuracy and clinical utility, providing confidence to healthcare professionals and patients.
Segmentation: Biomarkers Market
The biomarkers market is segmented based on type, application, product type, technology, and indication.
- On the basis of type, the biomarkers market is segmented into safety, efficacy, and validation.
- On the basis of application, the biomarkers market is segmented into diagnostics development, drug discovery and development, personalized medicine, disease-risk assessment, and others.
- On the basis of product type, the biomarkers market is segmented into consumables, services, and software.
- On the basis of technology, the biomarkers market is segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers.
- On the basis of indication, the biomarkers market is segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others.
Regional Insights: North America dominates the biomarkers market
North America's dominance in the biomarkers market is driven by its extensive utilization of biomarkers in personalized medicine. The region's advanced healthcare infrastructure, strong research capabilities, and focus on precision medicine contribute to its leadership position.
Asia-Pacific is poised for significant growth in the biomarkers market due to several factors. The increasing global burden of cancer, particularly in the region, fuels the demand for effective biomarker-based diagnostics and therapies. Additionally, growing research activities and the rising demand for quality healthcare in Asia-Pacific further contribute to the region's growth potential in the biomarkers market.
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Recent Developments in Biomarkers Market
- In December 2021, CENTOGENE NV was recognized for its AI-powered biomarker platform, CentoMetabolome. This internally developed platform has the potential to revolutionize biomarker identification by significantly reducing research time from months to just a few days. CentoMetabolome offers comprehensive metabolome screening, identifies potential biomarker candidates, and enhances knowledge about drug efficacy.
- In May 2021, QIAGEN N.V. launched an FDA-approved tissue companion diagnostic for detecting the KRAS G12C mutation in NSCLC tumors. This expansion strengthens QIAGEN's lung cancer precision medicine portfolio, providing improved diagnostic capabilities and personalized treatment options for patients with non-small cell lung cancer.
The Prominent Key Players Operating in the Biomarkers Market Include:
- Enzo Biochem Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Merck KGaA (Germany)
- PerkinElmer Inc. (U.S.)
- QIAGEN (Germany)
- Agilent Technologies, Inc. (U.S.)
- Bruker (U.S.)
- Epigenomics AG (Germany)
- MESO SCALE DIAGNOSTICS, LLC (U.S.)
- EKF Diagnostics Holdings plc (U.K.)
- General Electric Company (U.S.)
- Nexus- Dx (U.S.)
- LifeSign LLC (U.S.)
- F.Hoffman- La Roche Ltd (Switzerland)
- Thermo Fischer Scientific Inc. (U.S.)
- Eurofins Scientific (Luxembourg)
- Abbott (U.S.)
- Charles River Laboratories International Inc.(U.S.)
- Sino Biological, Inc. (China)
- CENTOGENE N.V. (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of biomarkers market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Biomarkers Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
