The report "Biomarkers Market by Product & Service (Consumable, Software), Type (Safety, Efficacy), Research Area, Technology (NGS, PCR, Mass Spectrometry), Disease (Cancer, Infectious), Application (Diagnostics, Clinical Research) - Global Forecast to 2029", is expected to reach USD 93.8 billion in 2029 from USD 57.7 billion in 2024, at a CAGR of 10.2% between 2024 and 2029.
Browse 696 market data Tables and 54 Figures spread through 532 Pages and in-depth TOC on "Biomarkers Market by Product & Service (Consumable, Software), Type (Safety, Efficacy), Research Area, Technology (NGS, PCR, Mass Spectrometry), Disease (Cancer, Infectious), Application (Diagnostics, Clinical Research) - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/biomarkers-advanced-technologies-and-global-market-43.html
Growth in the biomarkers market is mainly driven by the increasing use of biomarkers in drug discovery & development, the growing importance of companion diagnostics, the rising prevalence of cancer, the increasing development of biomarkers for rare diseases, increasing funds and grants for biomarker research, and advancements in omics technologies. However, the high capital investment and extensive timelines for biomarker development, coupled with disease complexity & heterogeneity, are the major factors expected to restrain the growth of this market to a certain extent.
The consumables segment accounted for the largest share by product & service segment in the biomarkers market in 2023.
By product & service, the biomarkers market is categorized into consumables, services, and software. The consumables are further sub-segmented into assay kits, reagents & chemicals, columns & filters. The consumables accounted for the largest share of the global biomarkers market in 2023. Despite their lower individual cost compared to instruments, consumables dominate the market due to their high sales volume and recurring demand in research and clinical settings. Growth is driven by the need for high-quality products to ensure precise results, advancements in biomarker research, and the continuous identification of new biomarkers. As new biomarkers are continuously identified and characterized, the demand for consumables is expected to expand further. This segment’s critical role in genome and proteome research solidifies its importance in the biomarkers market.
The cancer segment accounted for the largest share of the disease indication segment in the biomarkers market in 2023.
Based on the disease indication, the biomarkers market is segmented into cancer, infectious diseases, immunological disorders, neurological disorders, cardiovascular disorders, and other disease indications. In 2023, cancer accounted for the largest share of the biomarkers market, driven by the use of biomarkets in oncology for diagnosis, prognosis, and personalized medicine. Biomarkers also help predict drug response and optimize dosages With rising new cancer cases and deaths globally, biomarkers are crucial for predicting treatment response and optimizing therapies. Increased research funding and advancements in biomarker technologies are fueling market growth. However, challenges such as validation, regulatory hurdles, and high costs persist. The rising prevalence of cancer and focus on precision medicine continue to drive demand for cancer biomarkers.
The North America region accounted for the largest share of the biomarkers market in 2023.
The biomarkers market is segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), the Middle East, and Africa. North America held the largest share of the biomarkets market in 2023, driven by its advanced biopharmaceutical infrastructure, significant R&D investments, and widespread adoption of biomarkers in personalized medicine and cancer diagnostics. The region’s leadership is further reinforced by the presence of major pharmaceutical and biotechnology companies, along with well-established regulatory frameworks supporting innovation. However, stringent regulatory requirements for biomarker validation pose challenges to market expansion. The growing use of biomarkers in drug discovery and development, coupled with increasing funding for biomarker research, continues to propel market growth in the region.
Key players in the biomarkers market F. Hoffmann-La Roche Ltd (Switzerland), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), Abbott (US), QIAGEN (Netherlands), Revvity (US), Laboratory Corporation of America Holdings (US), Charles River Laboratories (US), Bio-Rad Laboratories, Inc. (US), Eurofins Scientific (Luxembourg), BIOMÉRIEUX (France), Agilent Technologies, Inc. (US), JSR Corporation (Japan), Quanterix (US), MESO SCALE DIAGNOSTICS, LLC. (US), EKF Diagnostics (UK), Celerion (US), Standard BioTools (US), Sebia (France), BioAgilytix Labs (US), StressMarq Biosciences Inc. (Canada), NorthEast BioAnalytical Laboratories LLC (US), Signosis, Inc. (US), Serimmune (US), TheraIndx Lifesciences Pvt. Ltd. (India), Synexa Life Sciences BV (Netherlands), Diatech Pharmacogenetics (Italy), Singulex, Inc. (US), R-Biopharm AG (Germany), and Proteome Sciences (UK).
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.
In addition, MarketsandMarkets SalesIQ enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Comments (0)