Global Targeted Biomarker Market

MARKET SCOPE:

The global Targeted Biomarker market is projected to grow significantly, registering a CAGR of 14.7% during the forecast period (2024 – 2032).

A targeted biomarker denotes a distinct molecule or characteristic that undergoes measurement and analysis to furnish insights into a specific biological process or condition. Biomarkers, generally speaking, are quantifiable indicators of routine biological functions, pathological processes, or responses to therapeutic interventions. The selection and examination of targeted biomarkers serve a particular purpose or focus, often linked to a specific disease, condition, or treatment response. In the realms of medical research, diagnostics, or personalized medicine, targeted biomarkers are meticulously chosen based on their established associations with particular diseases or therapeutic outcomes. These biomarkers encompass diverse molecular types such as proteins, nucleic acids, metabolites, or even features derived from imaging. Their role is to evaluate and track the presence, progression, or response to treatment in a specific disease. For instance, within cancer research, targeted biomarkers could include specific proteins like HER2 (Human Epidermal Growth Factor Receptor 2) or genetic mutations like BRAF. These biomarkers aid in the identification of individuals who may derive benefits from specific treatments or therapies, enabling more accurate and individualized medical interventions.

MARKET OVERVIEW:

Driver: The rise in incidence of cancer worldwide is predicted to foster the market growth.

The anticipated rise in the future burden of cancer is attributed to escalating factors such as the increasing prevalence of smoking, unhealthy dietary habits, and physical inactivity. Biomarkers serve as indicators for various health or disease characteristics. Cancer, being a complex ailment, evolves through a multi-stage carcinogenesis process involving numerous molecular pathway events, posing challenges in terms of diagnosis, prognosis, and treatment. Given the intricate nature of cancer, relying on a single marker proves inadequate. Furthermore, each type of cancer exhibits a distinct molecular profile. The identification of novel biomarkers opens up new avenues for developing therapeutic strategies aimed at rectifying dysregulation in cancer. Consequently, the growing incidence of cancer is expected to propel research in biomarkers and, subsequently, foster the expansion of the global market.

Opportunities: Growth in the emerging economics is expected to pave the way for market growth in the upcoming years.

Growing markets like India and China present substantial opportunities for the expansion of diagnostic biomarkers. This is primarily driven by the increasing patient population and the subsequent rise in diseases, including cardiovascular diseases and cancer, within these nations. According to a research study published by the American Heart Association (AHA), annual cardiovascular events in China were projected to increase by over 50% from 2010 to 2030, assuming constant risk factors. Likewise, The Lancet reported that cardiovascular diseases constituted 28% of all deaths in India in 2016, with a projected increase to 36% by 2030. The escalating incidences and burden of cardiovascular diseases in emerging markets will fuel the demand for early disease diagnostic procedures, presenting numerous opportunities for players in the biomarker testing market.

Furthermore, major market players are adopting various strategies to enhance their presence and product offerings in these regions. For instance, in January 2020, Merck (Germany) inaugurated a non-profit, high-tech skill development center in collaboration with the Council of Scientific and Industrial Research’s Institute of Microbial Technology (CSIR-IMTECH) in Chandigarh, India. Equipped with genome-editing, single-molecule biomarker detection, and other technologies, this center aims to assist local students in building life science skills. Such strategic initiatives by key players are anticipated to propel the biomarker research market in these countries.

COVID IMPACT:

The COVID-19 pandemic wrought widespread disruption across various industry sectors, including a profound impact on the healthcare domain. Despite the challenges faced, the biomarkers market experienced a relatively positive influence from the outbreak. Biomarkers played a crucial role in the development of therapies for COVID-19 patients, contributing to a constructive trajectory. Numerous research efforts highlighted the critical role of biomarkers in diagnosing and treating COVID-19. An article published in March 2021 in the journal PLOS One, titled ""Laboratory biomarkers of COVID-19 disease severity and outcome: Findings from a developing country,"" emphasized the importance of timely identification of biomarkers for assessing disease severity and mortality, enabling targeted intervention and patient management. Additionally, several organizations introduced biomarker products designed for the detection and diagnosis of COVID-19. For instance, in November 2020, Blink Science, a biotechnology and medical device firm, launched blinkTEST, a handheld biosensor device capable of detecting COVID-19 and other disease biomarkers in saliva. These advancements contributed to the market's growth during the pandemic phase.

SEGMENTATION ANALYSIS:

The safety biomarkers segment is anticipated to grow significantly during the forecast period.

In 2022, the safety biomarkers segment emerged as the dominant sector in the global market. Several factors contribute to the significance of this segment. Firstly, there is an increased awareness among individuals regarding the importance of routine health checks, leading to a heightened focus on safety biomarkers for monitoring health conditions. Secondly, safety biomarkers play a pivotal role in drug development, assessing potential risks and reducing the attrition rate of drugs at various stages of clinical trials. Lastly, the escalating prevalence of chronic diseases worldwide has underscored the need for safety biomarkers in monitoring and managing these conditions. The collective impact of these factors underscores the substantial share and significance of the safety biomarkers segment in the global market.

The Diagnostics development segment is anticipated to grow significantly during the forecast period.

Key market players' investments in the creation of innovative biomarkers for both diagnostic and therapeutic purposes, along with substantial grants from government and private organizations dedicated to drug discovery and development, are pivotal factors expected to propel the expansion of the diagnostics and research laboratories segment throughout the forecast period from 2019 to 2026. As an illustration, Empire Genomics, LLC provides grants of USD 250,000 to support researchers and clinicians in the development and validation of new biomarkers within the field of oncology.

REGIONAL ANALYSIS:

The North America region is set to witness significant growth during the forecast period.

Currently, North America holds the predominant position in the biomarkers market, and this dominance is expected to persist for several more years. Within North America, the United States specifically commands the largest market share. Over the past decade, there has been a substantial increase in the number of USFDA-approved drug labels containing information about molecular biomarkers. Additionally, the United States faces a rising burden of chronic diseases, creating a demand for effective and specific biomarkers. According to the article ""Chronic Diseases in America"" updated by the National Center for Chronic Disease Prevention and Health Promotion in January 2021, six out of ten adults in the United States are affected by a chronic disease, and four out of ten adults have two or more chronic conditions. Given the critical role biomarkers play in the early diagnosis and treatment of chronic diseases, the market is anticipated to experience significant growth in the foreseeable future.

COMPETITIVE ANALYSIS

The global Targeted Biomarker market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.

Qiagen

• In May 2021, the introduction of an FDA-approved tissue companion diagnostic by QIAGEN N.V. for detecting the KRAS G12C mutation in NSCLC tumors is set to facilitate the company's expansion of its precision medicine portfolio for lung cancer.

bioMerieux

IntegraGen

Myriad Genetics

Protagen

PerkinElmer

Merck Millipore

Bio-Rad Laboratories

Enzo Biochem

EKF Diagnostics

Meso Scale Diagnostics, LLC.

Scope of the Report

By Type

• Safety Biomarker
• Efficacy Biomarker
• Validation Biomarker

By Application

• Diagnostics Development
• Drug Discovery & Development
• Personalized Medicine
• Disease Risk Assessment
• Others

By Region

• North America (the United States & Canada)
• Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
• Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, and Latin America)

Key reasons to purchase this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Targeted Biomarker market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Targeted Biomarker submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.