Biomarkers Industry | Forecast 2030
The global biomarkers markets combine to account for USD 41.62 billion revenue in 2021, which is expected to reach USD 137.76 billion by 2030, growing at a cumulative rate of 14.2% over the forecast period. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces.
Cardiac Biomarkers Market Insights
The global cardiac biomarkers market size was valued at USD 16.05 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 14.6% from 2023 to 2030. Cardiac biomarkers are witnessing growth owing to factors such as the high prevalence of acute coronary syndrome, technological advancements in cardiac biomarkers, rising demand for point-of-care (POC) cardiac testing kits, and high specificity in detecting cardiac diseases, especially myocardial infarction.
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The enhanced usage of cardiac biomarkers in SARS-CoV-2 patients to minimize the risk of cardiac diseases further drives the demand. For instance, according to National Center for Biotechnology Information (NCBI) in 2021, biomarkers for cardiac injuries were elevated in complicated cases of COVID-19 patients and were directly associated with adverse disease outcomes. Thus, cardiac biomarkers enabled the disease management of severely ill patients.
Non-alcoholic Steatohepatitis Biomarkers Market Insights
The global non-alcoholic steatohepatitis biomarkers market size was estimated at USD 982.15 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 23.6% from 2023 to 2030. Non-alcoholic Steatohepatitis (NASH) biomarkers market is witnessing growth due to the factors such as the rising prevalence of chronic liver diseases which is projected to increase demand for non-invasive diagnostic tools for NASH detection. Moreover, the market growth is propelled owing to the launch of novel diagnostic tests.
Increasing demand for non-invasive diagnostic tools for NASH detection is anticipated to drive the market. A liver biopsy has traditionally been used to detect Non-alcoholic fatty liver disease, and its degenerative condition, NASH. This technique is both costly and invasive. Because of this disadvantage, cost-effective and noninvasive diagnostic techniques such as biomarker tests have been developed. Many major corporations spent a significant amount of money on R&D to introduce biomarker tests. Such factors will drive the NASH biomarkers market in the forecast period.
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Cancer Biomarker Market Insights
The global cancer biomarkers market size was valued at USD 10.3 billion in 2016 and is estimated to grow at a compound annual growth rate (CAGR) of 14.3% from 2018 to 2025. Growing prevalence of malignancies coupled with increasing focus on development of targeted therapies is a major factor affirming the positive growth of this market.
Cancer is reported to be the second leading cause of mortality in the U.S. after cardiovascular disorders. Prevalence of breast, prostate, and lung malignancies has increased at a very steep rate with an estimated number of over 1,600 people being affected in the U.S. every year. In 2017, around 200,000 cases of breast cancer have been reported in the U.S.
Neurological Biomarkers Market Insights
The global neurological biomarkers market size was valued at USD 8.05 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.89% from 2024 to 2030. Technological advancements, a rising prevalence of neurological disorders such as Parkinson’s disease, Alzheimer’s Disease (AD), dementia, brain tumors, & epilepsy, and increased funding for R&D of neurological biomarkers are factors responsible for market growth over the forecast period.
The COVID-19 pandemic brought both opportunities and challenges in the market for neurological biomarkers. While there was a growing demand for biomarkers due to the virus’s neurological implications, hurdles such as disruptions in research and development activities, delayed clinical trials, and economic constraints disrupted market expansion. These challenges can hinder market growth by impeding the timely introduction of new neurological biomarkers, affecting their overall adoption and market penetration.
An increasing prevalence of neurological disorders is anticipated to drive market advancement. As per WHO estimates, in the U.S., stroke is the third leading cause of death and Parkinson’s disease currently impacts around 1 million people in the country. Technological advancements in biomarkers have made it easier for physicians and researchers to track & manage brain health.
Recent advancements in detection and biomarker signatures have helped in making neurological diseases more treatable. With an advent of neurological biomarkers detected in blood over the past few years, diagnosing diseases such as Alzheimer’s, autism, chronic traumatic encephalopathy, major depressive disorder, and Parkinson’s disease is likely to become easier.
Competitive Landscape
Some of the key players in the market are F. Hoffmann-La Roche Ltd.; Abbott Laboratories; Bio-Rad Laboratories, Epigenomics AG; Thermo Fisher Scientific, Inc.; Siemens Healthineers AG; Johnson & Johnson Services, Inc; and QIAGEN N.V. Key players are introducing novel products in the market to strengthen their product portfolio. For instance, in August 2022, the company announced the availability of its ELF Test developed in collaboration with Labcorp and Quest Diagnostics across the U.S. The test is available in the U.S. market through De Novo marketing authorization obtained from the U.S. FDA.
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