Biomarkers Market Expected to Reach $134.2 Billion by 2033

According to a new report published by Allied Market Research, titled, “Biomarkers Market," The biomarkers market size was valued at $46.4 billion in 2023, and is estimated to reach $134.2 billion by 2033, growing at a CAGR of 11.2% from 2024 to 2033. 

Biomarkers are measurable indicators that serve as objectifiable and quantifiable signs of biological processes, disease states, or responses to therapeutic interventions within an organism. They play a crucial role in the field of healthcare, such as in aiding in disease diagnosis, prognosis, and monitoring treatment efficacy. Moreover, biomarkers facilitate the development and evaluation of new drugs and therapies by enabling researchers to measure their impact on biological systems.  

Factors that drive the growth of the biomarkers market size include a rise in geriatric population and surge in demand for companion diagnostics. Technological advancements in the field of biomarkers have emerged as a major driver for the biomarkers market share. According to the World Health Organization, it was estimated that by 2030, 1 in 6 people in the world are expected to be aged 60 years or over. As the geriatric population is on the rise globally, there is a heightened demand for effective diagnostic and prognostic tools to address the complex healthcare needs of this aging demographic. Biomarkers, which are measurable indicators of biological processes or conditions, play a crucial role in the early detection, monitoring, and management of various age-related diseases such as cardiovascular disorders, neurodegenerative conditions, and certain types of cancers. The elderly often exhibit a higher susceptibility to chronic ailments, necessitating precision medicine approaches for personalized healthcare. Biomarkers offer a non-invasive means of assessing disease risk, progression, and response to treatment, enabling healthcare practitioners to tailor interventions on the basis of individual patient profiles. The rise in geriatric population makes age-related illnesses more common and highlights the need for creative and specific healthcare solutions. Thus, the rise in geriatric population is expected to drive the growth of the market. 

Furthermore, favorable government initiatives and research grants play a pivotal role in driving advancements within the biomarkers market forecast. Governments across the globe are increasingly recognizing the importance of biomarkers in revolutionizing personalized medicine and enhancing early disease detection. By allocating substantial funding and resources, these initiatives stimulate collaborative research efforts among academic institutions, healthcare organizations, and private enterprises. For instance, the U.S. government provides the NINDS Biomarker Program, which is focused on improving the quality and efficiency of neurotherapeutic clinical research by supporting rigorous biomarker development and validation. This program offers funding opportunities through various mechanisms such as R61/R33 grants for exploratory projects, U01/U44 cooperative agreements for analytical & clinical validation, and SBIR Fast Track grants. The favorable government initiatives have contributed significantly to the R&D initiatives in biomarker technology. Thus, the favorable government initiatives is expected to contribute significantly to the growth of the market. 

The biomarkers market share is segmented on the basis of type, application, service, and region. By type, the market is divided into efficacy biomarkers, safety biomarkers, and validation biomarkers. By application, the market is divided into risk assessment, development of molecular diagnostic, disease diagnosis, drug discovery & development, drug formulation, forensic application, and others.  

By service, it is classified into sample preparation, assay development, biomarker validation & testing, and other services. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, UK, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, rest of LAMEA).  

The major players profiled in the report are GE Healthcare, Abbott Laboratories, Inc., Bio-Rad Laboratories, Epistem Ltd., Eisai Co. Ltd., Roche Diagnostics Limited, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Aushon Biosystem, and Siemens AG. 

On the basis of type, the safety biomarkers segment generated maximum revenue in 2022 owing to high adoption of the safety biomarkers to evaluate the safety of the drug candidate. However, the efficacy biomarkers segment is expected to register highest CAGR during the forecast period, owing to high adoption of the efficacy biomarker in drug discovery and development procedure. 

On the basis of application, the drug discovery and development segment generated maximum revenue in 2022 owing to high adoption of the biomarkers to evaluate the efficiency and safety profile of the drug candidate. However, the disease diagnosis segment is expected to register highest CAGR during the forecast period, owing to availability of biomarkers for diagnosis of chronic diseases such as cancer, neurological disorders, and cardiac disorders. 

On the basis of service, the sample preparation segment generated maximum revenue in 2022 owing to the growing emphasis on personalized medicine and precision diagnostics has spurred the development of innovative sample preparation technologies tailored to specific biomarker applications and patient populations. However, the assay development segment is expected to register highest CAGR owing to the fact that as understanding of disease mechanisms and molecular pathways deepens, there is a growing demand for sophisticated and highly specific assays capable of detecting and quantifying biomarkers with exceptional sensitivity and accuracy. 

Region-wise, the North America region generated the highest revenue in 2022, owing to the strong presence of key players, well-developed healthcare infrastructure, and rise in geriatric population. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to a rise in prevalence of chronic diseases and surge in research initiatives by companies in the region. 

Key Findings of the Study  

• By type, the sample preparation segment held the largest share in the biomarkers market analysis in 2022. However, the efficacy biomarkers segment is expected to register highest growth during the forecast period.  

• By application, the drug discovery and development segment held the largest share in the biomarkers industry in 2022. However, the disease diagnosis segment is expected to register highest growth during the forecast period and is one of the major biomarkers market trends. 

• By service, sample preparation segment held the largest share in the biomarkers industry in 2022. However, the assay development segment is expected to register the highest growth during the forecast period. 

• Region-wise, North America held the largest market share in 2022. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.