Biomarker Research Services Market
Global biomarker research services market is estimated to be valued at USD 6.81 Billion in 2024 and is expected to reach USD 191.10 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031. The global biomarker research services market has been gaining significant traction over the recent past, owing to rising penetration of precision medicine and personalized healthcare. Biomarkers play a crucial role in drug development by identifying the risk of diseases and patients' response to therapies. They help streamline clinical trials and reduce costs associated with drug development. With increasing focus on biomarkers for early diagnosis of diseases and the development of targeted therapies, there has been huge demand for outsourced biomarker research services. Various biopharmaceutical companies are collaborating with research organizations to tap into their expertise and maximize efficiency of clinical research. This has boosted the growth of the global biomarker research services market.
Market Dynamics:
Global biomarker research services market is driven by rising demand for personalized medicine, increasing influence of precision medicine, and growth of companion diagnostics market. However, high costs associated with biomarker discovery and validation, and technical challenges in biomarker discovery are likely to restrain the market growth. Meanwhile, increasing focus on rare disease diagnosis presents high growth potential for players in this industry. Biomarkers play a critical role in drug development for rare diseases. Their use helps identify patients suitable for clinical trials and reduces costs. Growing adoption of biomarker profiling technologies, such as genomics and proteomics, offer lucrative opportunities in the near future.
Key Features of the Study:
- This report provides in-depth analysis of the global biomarker research services market, and provides market size (US$ Billion) and the compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global biomarker research services market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include F. Hoffmann-La Roche Ltd., Abbott Laboratories, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Siemens Healthineers AG, Johnson & Johnson Services, Inc., Qiagen, Epigenetics AG, General Electric, Merck KGaA, Illumina, Inc., PerkinElmer, Inc., Agilent Technologies, Becton, Dickinson and Company, and Novartis AG
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global biomarker research services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biomarker research services market
Market Segmentation
Market Segmentation
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