Adoption of biomarkers in personalized medicine is expected to impel the growth of the biomarker market

calendar_today 14 July, 2022 person_outline Growth Plus Reports

Biomarker Market By Type (Safety, Application, Validation, Surrogate, Prognostic), Application (Diagnostics, Drug Discovery, Development, Clinical Trials, Personalized Medicine), Diseases (Cancer, Cardiovascular Diseases, Neurological Diseases, Immunological Diseases), – Global Outlook & Forecast 2022-2030

According to the deep-dive market assessment study conducted by Growth+ Reports The global biomarker market was pegged at ~US$ 42.20 billion in 2021. The market is expected to witness a CAGR of ~ 12.30% from 2022 to 2030.

A molecule, gene, or feature that occurs naturally which shows any particular pathological and physiological changes in the human body and indicates the proliferation of any disease in the body is called a biomarker. Increasing geriatric population, high usage of biomarkers by researchers in their studies, and new discoveries made in biomarkers can increase the growth of the global biomarker market. However, high capital investments and lengthy biomarker development timelines can restrain the market.

Biomarker discovery is accelerating at an unprecedented rate. Biomarkers enable earlier disease exposure, enhanced diagnoses, and safer and more effective therapies, resulting in better patient outcomes and more efficient and effective public health spending. Encouraging findings from early applications of biomarkers show that if the disease is diagnosed and treated under right conditions, it improves the population well-being, as well as the economic performance of the healthcare systems and supporting industries. Biomarkers are also made on the specific to diseases. the aim of such biomarkers is early diagnosis of diseases, and reduction in time required for treatment. For instance, a cancer biomarker detects the presence of cancer in the body, by identifying proteins, genes, and other substances. Biomarkers for CVDs (Cardiovascular diagnosis) such as natriuretic peptides are the most widely used contemporary cardiovascular biomarkers in the diagnosis and prognosis of heart failure, and cardiac troponins are used in the identification of acute myocardial infarction. Many other biomarkers for diagnosis, prognosis, and risk prediction have been discovered.

Biomarkers are widely used in the research and development department of drug development. These are used to monitor drug activity, in the development of therapeutic

responses, the development of personalized medicine is also trending, and molecular diagnosis. Although various types of biomarkers have had an impact on drug discovery and development, biomarkers are used to monitor the mechanism of drugs in the human body, and even in the late drug development phase, the biomarkers can identify the dosage of drugs.

Biomarkers have huge applications in personalized drugs. Pharmacodynamic biomarkers evaluate the impact of a drug on disease, although diagnostic biomarkers recognize the particular disease present in a patient sample. The two types of biomarkers that are most important in the development of personalized medicine are predictive biomarkers and prognosis biomarkers. The predictive biomarkers are used to identify suitable treatment. For instance, some biomarkers in oncology identify overexpression of HER-2 which is a growth factor that transmits growth signals to the cancer cells. The prognostic biomarkers are used to get information about the long-term effects of treatments on the patient. This type of biomarker can detect any kind of risk in a particular patient.

However, the high cost and time required for biomarker development may limit the global biomarker market's growth. The time required to develop a drug from R&D to manufacturing is the same as the time required to develop a completely new biomarker.

The global biomarkers market has been divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America commands the largest share of the global biomarker market. The high prevalence of chronic diseases such as cancer, cardiovascular disorders, immunological disorders, and so on is attributed to this growth, as is the trending use of personalized medicine in this region, for which biomarkers are required. Many pharmaceutical and biotechnology research companies approve various growth strategies that require biomarkers, such as the development of specific therapeutic agents and the prediction of disease progression. Biomarkers can also aid in increasing the rate of drug manufacturing. Europe is expected to be the second-largest market for biomarkers after North America. With a large number of research institutes conducting chronic disease research, a large number of biomarker solution suppliers in this region, and the rapid growth of biomarker testing based on molecular diagnostics, it is possible to improve the health outcome in Europe.

The Asia Pacific biomarker market is also expected to grow at a rapid pace due to factors such as an increasing population of people suffering from chronic diseases and government investments in research programs. Due to massive government investments in R&D and life science projects, the prevalence of chronic diseases such as cancer, and the increasing adoption of personalized medicine. China is expected to show elevated growth in Asian market.

Some of the prominent players operating in the Global Biomarkers market are Abbott Laboratories, F. Hoffmann La-Roche Ltd., Epigenomics A.G, General Electric, and Johnson and Johnson. Inc, Thermo Fisher Scientific, Inc., QIAGEN NV, Siemens Healthineers AG, Bio-Rad Laboratories, Enzo Biochem, Inc., Diametra, and Signosis, Inc. among others.

This report entails a thorough quantitative analysis of global biomarker market trends from 2022 to 2030. The global biomarker market has been analyzed from three perspectives: type, applications, diseases, and Region. Based on the type it is further categorized into safety, efficiacy, validation, surrogate, and prognostics. Corresponding to type, it is classified into diagnostics, drug development, clinical trials, and personalized medicine.

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