BLOOD BASED BIOMARKER MARKET ANALYSIS

A biomarker (short for biological marker) is an objective measure that captures what is happening in a cell or an organism at a given moment. Biomarkers can serve as early warning systems for health. A blood-based biomarker (biological marker in the patient’s blood) is a measurable DNA, RNA, or protein component that indicates diseases such as cancer, Alzheimer's disease. Blood-based biomarkers offer a measure of an individual's biochemistry, from a simple patient blood sample that can help quantify health and disease.

The global blood based biomarkers market is estimated to be valued at US$ 18.8 billion in 2022 and is expected to exhibit a CAGR of 12.8% during the forecast period (2022-2030).

Figure 1.Global Blood Based Biomarkers Market Share (%) in Terms of Value, By Disease, 2022

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Increased prevalence of cancer and neurological disorders are expected to drive the market growth during the forecast period.

The increasing the prevalence of cancer and neurological disorders are expected to drive the global blood based biomarkers market growth over the forecast period. For instance, according to the data published by World Health Organization in February 2022, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. The most common cancers are breast, lung, colon and rectum, and prostate cancers.

Figure 2.Global Blood Based Biomarkers Market Share (%), By Application, 2022

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Rising research and development for blood based biomarker are expected to drive the market growth during the forecast period

Increasing research and development for blood-based biomarkers is expected to drive the global blood-based biomarkers market growth during the forecast period. For instance, in November 2021, a study by researchers at the Indian Institute of Science (IISc), along with collaborators, has identified potential blood-based biomarkers to predict disease progression and survival times in those with late-stage brain tumors.

Global Blood Based Biomarkers Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 423 million infected individuals worldwide as of February 21, 2022.

COVID-19 affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.

Furthermore, players operating in the global blood based biomarkers market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.

Global Blood Based Biomarkers Market: Restraint

The major factors that hinder growth of the global blood based biomarkers market include issues related to regulatory and reimbursement systems. According to data published by Blue Cross and Blue Shield Association in January 2019, the reimbursement for Alzheimer's disease is not provided by most of the insurance providers, such as the Blue Cross and Blue Shield Association. The reimbursement coverage for neurological biomarker testing in emerging economies, such as India and China, is even lesser, as these countries have low insurance penetration and very little awareness about biomarker testing.

Key Players

Diadem srl., Proteomedix,  Cleveland Diagnostics,  F. Hoffmann-La Roche Ltd, GENFIT, Nutech Cancer Biomarkers India Pvt Ltd, SysmOex Corporation, Minomic, Creative Diagnostics,   Eisai Co., Ltd., and C2N Diagnostics