Biomarkers Market: Introduction
- A biomarker refers to a biological molecule or gene that is used to effectively and accurately evaluate pharmacologic responses, pathogenic procedures, and biological procedures. Also known as a molecular marker or signature molecule, biomarkers are found in blood, other body fluids, and tissue. Extensively used to see the body’s response to a particular treatment for a disease or condition, biomarkers assist medical professionals to take effective clinical decisions and help in diagnosing the health of patients. The U.S. Food and Drug Administration (FDA) has approved the usage of biomarkers as surrogate end-points in the treatment development process.
- Biomarkers play a pivotal role in disease risk assessment, drug discovery & development, diagnostics development, personalized medicine, and others. Research activities are particularly focused on the development of diagnostic biomarkers for cancer. Most favorable drugs can be selected with the support of biomarkers that reduce chances of failure and discovery costs at the later stages.
Biomarkers Market: Key Trends
- The global biomarkers market is gaining traction due to a number of factors, including increase in diagnosis applications for companion diagnostics and personalized medicine, rapidly growing number of contract research organizations, decline in cost of clinical trials in various emerging economies, high prevalence of cancer, surge in investment in research & development by biotechnology and pharmaceutical companies, and new initiatives in biomarker research. However, the global biomarkers market is facing challenges such as high capital investments, low cost-benefit ratio with total investment, technical issues pertaining to sample collection & storage, and poorly suited regulatory and reimbursement systems. Nevertheless, vastly populated emerging economies in Asia Pacific such as India and China are expected to open new revenue avenues for the companies operating in the global biomarkers market, provided these can prove the clinical validity of the tests.
- The world is presently struggling with the COVID-19 pandemic. COVID-19 leads to pneumonia, severe & acute respiratory disorders, multiple organ failure, and, in severe cases, death. The geriatric population is more prone to COVID-19. The global biomarkers market has witnessed strong growth due to the pandemic. Usage of biomarkers is particularly important during the current pandemic state, as these can enhance the development and approval of new, innovative drugs and biological products, particularly in the field of vaccines.
- Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is likely to increase access to health care. This is expected to drive the demand for biomarkers. Rise in prevalence of chronic heart diseases, especially heart attack, in developing countries presents lucrative opportunities in the global biomarkers market.
North America to Capture Major Share of Global Biomarkers Market
- North America is projected to account for large share of the global biomarkers market during the forecast period due to the growing acceptance of advanced technologies, entry of new players, new product launches, and wider usage of biomarkers
- The biomarkers market in Europe is likely to grow at a rapid pace during the forecast period, led by the increasing efforts toward drug discovery. The biomarkers market in Asia Pacific is expected to expand at a high CAGR during the forecast period due to factors such as new initiatives for research, high prevalence of cancer, low cost of clinical trials in developing countries, increase in number of CROs, surge in R&D funding for pharma and biotech companies, and rise in diagnostic applications of biomarkers.
- The market in Latin America and Middle East & Africa is anticipated to be driven by increase in diagnostic applications of biomarkers in the regions
Key Players Operating in Global Biomarkers Market
Key players hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global biomarkers market.
Major players operating in the global biomarkers market are:
- Agilent Technologies, Inc.
- Epigenomics AG
- Quest Diagnostics Incorporated
- General Electric Company
- Becton, Dickinson and Company
- Other prominent players
Global Biomarkers Market: Research Scope
Global Biomarkers Market, by Product
Global Biomarkers Market, by Type
- Safety Biomarkers
- Efficacy Biomarkers
- Predictive Biomarkers
- Surrogate Biomarkers
- Pharmacodynamics Biomarkers
- Prognostic Biomarkers
- Validation Biomarkers
Global Biomarkers Market, by Application
- Drug Discovery and Development
- Personalized Medicine
- Disease Risk Assessment
- Other Applications (ecotoxicology, DNA fingerprinting, and forensics)
Global Biomarkers Market, by Indication
- Cancer, Neurological Disorders
- Cardiovascular Diseases
- Others (urinary diseases, renal disorders, and diabetes)
Global Biomarkers Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.