Biomarker Research Services Market is Estimated to Witness High Growth Owing to Increasing Investments and Rising Prevalence of Chronic Diseases
The global biomarker research services market is estimated to be valued at USD 6.81 Billion in 2024, exhibiting a CAGR of 15.9% over the forecast period (2024-2031). The market is witnessing significant growth owing to the increasing investments in biomarker discovery and a growing number of clinical trials for biomarker validation. Furthermore, rising prevalence of chronic diseases, such as cancer and cardiovascular diseases, is accelerating the need for biomarkers to develop novel drug candidates and diagnostic tools.
Market Dynamics:
The global biomarker research services market growth is primarily driven by the increasing investments in biomarker discovery by pharmaceutical and biotechnology companies. For instance, in April 2021, according to the Pharmaceutical Research and Manufacturers of America, the R&D expenditure of pharmaceutical companies increased from USD 79.6 billion in 2020 to USD 83.8 billion in 2021. Biomarkers help accelerate the drug development process by identifying the right patient population and improving clinical trial design. Another key driver is rising demand for personalized medicine. Biomarkers play a vital role in developing personalized treatment regimens by identifying the patients who are most likely to respond to a particular therapy.
Increasing Demand for Personalized Medicines
One of the key drivers for the global biomarker research services market is the increasing demand for personalized medicines. Biomarkers play a vital role in developing personalized medicines by helping identify which patients are most likely to respond to particular drug therapies. They help medical professionals tailor treatment plans according to an individual's genetic makeup, lifestyle, and condition. This approach has shown great promise in improving treatment effectiveness while reducing adverse reactions. As healthcare moves towards more targeted and precision-based approaches, the demand for biomarkers and associated research services is expected to grow significantly.
Rising Prevalence of Chronic and Lifestyle Diseases
Another major market driver is the rising prevalence of chronic and lifestyle-related diseases globally. Conditions like cancer, diabetes, cardiovascular diseases, and neurological disorders have been on the rise. These complex diseases require extensive research to identify suitable biomarkers for early detection, prognosis and monitoring treatment response. Biomarkers help gain valuable insights into disease mechanisms, progression, and outcomes. With millions affected worldwide, the increasing healthcare burden of chronic diseases is driving biomarker research activities aimed at developing advanced diagnostics and therapeutics. This growing disease impact is expected to further fuel demand in the coming years.
High Cost of Biomarker Validation
One of the key restraints in this market is the high cost associated with biomarker validation from the initial discovery stage through clinical utility assessment. Biomarker research and development involves multi-stage rigorous validation and clinical testing costing millions of dollars before the biomarker can be approved and commercialized. Additionally, technical challenges around reproducibility, specificity, and sensitivity of biomarkers also increase validation costs. This poses significant financial burdens, especially on smaller biotech companies and startups working to identify and develop novel biomarkers. The high expenses act as a deterrent in scaling up biomarker research efforts.
Stringent Regulatory Guidelines
Another major challenge for the biomarker research services market is the stringent regulatory guidelines governing biomarker approval and commercial use. Regulators like the U.S. FDA impose strict rules regarding biomarker qualification based on analytical and clinical validity. Extensive dossiers with robust data on efficacy, safety, reproducibility, and clinical utility are required. Any lapses can result in delays or rejection. Complying with changing laws and guidelines globally increases the complexity of the approval process. The regulatory hurdles also hinder faster integration of biomarkers into clinical practice. Therefore, the stringent oversight poses a restraint by increasing the time and costs involved in translating biomarker research outcomes into approved diagnostic or drug development tools.
Increasing Public-Private Partnerships
One significant opportunity for growth is the increasing collaboration between public and private/industry players in the form of partnerships, joint ventures, and contract research models. This helps share resources, risks, and rewards to boost biomarker R&D productivity. Academia provides access to patient populations and samples while industry players provide funding, facilities, and expertise. Such cross-sector partnerships have shown success in advancing high-impact projects with greater efficiency. Furthermore, they are likely to drive more innovation by supporting biomarker research in underfunded areas.
Growing Focus on Biomarker Discovery
Another key market opportunity lies in the growing focus on early biomarker discovery using advanced omics technologies like genomics, proteomics, and metabolomics. These multi-dimensional analysis platforms are able to rapidly screen large numbers of potential biomarkers from various disease models and biofluids. This augments past hypothesis-driven methods and accelerates biomarker identification. The growing application of artificial intelligence and machine learning techniques is also helping analyze massive biomarker datasets efficiently, aiding biomarker discovery. Backed by ongoing technology advancements, investment in biomarker discovery is expected to unlock newer prospects.
Factors like demand for precision medicines, rising chronic disease burden, increasing collaboration and focus on discovery are driving opportunities in the global biomarker research services market. However, high costs of validation and stringent regulations continue to pose challenges. Overall, as biomarkers assume greater roles in healthcare, the market is anticipated to witness steady growth over the coming years.
Link: https://www.coherentmarketinsights.com/market-insight/biomarker-research-services-market-2612
Key Developments:
- On November 14, 2024, Perspectum, a leader in medical imaging, was awarded the 2024 U.S. FDA Drug Development Tool (DDT) Research Grant to assess a novel biomarker for drug development in rare diseases. This recognition highlights the company's commitment to advancing targeted therapies that improve patient care and quality of life.
- In August 2024, Biognosys, a global leader in next-generation proteomics solutions for drug discovery, announced the commercial launch of its NULISA proteomics assay services, developed in collaboration with Alamar Biosciences, a biotech company. These high-sensitivity multiplex assays, including the NULISAseq CNS Disease and Inflammation panels, are now available at Biognosys' state-of-the-art facility in Switzerland.
- In August 2024, the U.S. FDA approved Illumina’s TruSight Oncology Comprehensive test, a genomic profiling kit with pan-cancer companion diagnostics (CDx). This test enables the profiling of over 500 genes in solid tumors and supports targeted therapies, including Bayer’s VITRAKVI (larotrectinib) for neurotrophic tyrosine receptor kinase (NTRK) gene fusions and Eli Lilly and Company’s RETEVMO (selpercatinib) for RET fusion-positive non-small cell lung cancer (NSCLC).
- In July 2024, Biogen Inc., Beckman Coulter Inc., and Fujirebio joined forces to develop minimally invasive blood-based biomarkers for tau pathology in Alzheimer’s disease. These biomarkers aim to stratify patients and monitor treatment responses, enhancing next-generation therapies focused on tau pathology.
Key Players:
- 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
