Biomarkers or better known as biological markers are biological molecules acting as indicators of some biological condition or state. Introduced in 1950s, and widespread in the early 1980s, the application of biomarkers are gaining ground across the globe. With increasing number of research and development activities for drug development coupled with advancement in post genomic technologies, biomarkers are being applied in various industries. From medicine to geology as well as astrobiology, biomarkers are getting exponential hold. Usage of these biological molecules have become basic in clinical practice as well as clinical research and their presence as primary endpoints is currently being accepted almost without any second thoughts. With such wide applications in different verticals, a sustainable demand for biomarkers is expected to make a mark in the global marketplace. In 2018, the global Biomarkers Market value stood at $30 billion, and is poised to propel at a profitable CAGR of 13.5% during the forecast period 2019-2025.
The International Trade Centre (ITC) has analyzed and presented that the trade value of pharmaceutical products was $623.25 billion as of 2018. Moreover, the trade value witnessed an upsurge of 10% during 2017-2018. A significant part of this trade value of the parent industry is attributable to the expansion of biomarkers market. Our report details Report KW size by type and applications, Report KW share by top 5 companies and also the market share by start-ups during the forecast period.
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Booming Biomarkers Market Revenues in North America -
North America had the largest biomarkers market share with approx. 38% of the global revenues in 2018. Countries in North America such as the U.S., Canada, and Mexico are constantly involved in research and development paving way for newer technologies such as biomarkers and others. From discovering drugs and further developments to different breakthroughs in scientific fields such as genetic studies and bioinformatics, the countries are taking efforts to make various biomarkers such as diagnostic, surrogate, molecular, and others. These developing countries are directly contributing to surging growth of the North America biomarkers market, which is set to pave immense opportunities for vendors in the upcoming years.
• The U.S. Hospital Industry Contribute to the North America's Biomarkers Market –
Biomarkers are variedly used in hospitals for diagnosis. From treating patients with Cancer or Diabetes, the use of biomarkers have become unavoidable for a better treatment. As per American Hospital Association's (AHA) 2019 edition of statistics, the total number of hospitals in the U.S including community hospitals, federal government hospitals, non-federal psychiatric hospitals, and other hospitals sums up to 6,210. Furthermore, the research of Health Affairs asserts that a study of Chicago health industry indicates 4,500 more beds would be needed in the U.S. by 2020. According to the International Trade Centre (ITC), Mexico earned a revenue of $61m in 2018 from products such as medical, surgical, dental, or veterinary furniture, and others. It has experienced 13% growth in its revenue annually. This indicates clear prosperity of the hospital industry. The rising numbers of hospitals is anticipated to act as a constant driver of the biomarkers market in the upcoming years.
• The Fast Developing Pharmaceutical Industry of the U.S. is Driving the North American Biomarkers Market –
Chronic wounds affect the U.S. citizens in huge numbers. A research paper presented by the National Center for Biotechnology Information (NCBI) claims that an excess of $25 billion is spent annually on the treatment of chronic wounds.This has created an extensive growth in the pharmaceutical industry, as wounds need to be treated with medicines. As per the data of the International Trade Centre (ITC), the state raked in a revenue of around $116.34 billion by trading of pharmacy products in 2018. The annual growth of the U.S. pharmacy industry was 20%.With the aging population and increasing healthcare cost, biomarkers market will observe a striking mark, as drug-related biomarkers help in detecting a particular disease state by molecular testing or genetic testing.
The key application of biomarkers can be found in the field of diagnostics. Physicians run diagnostic tests to detect specific biological markers, that helps doctors to understand the exact medical treatments and procedures that will be required by the patient. This information combined with circumstances, values, and personalized medicine, allow patients and doctors to figure out preventive plans and target cure process. In 2016, Food and Drug Administration (FDA) approved of almost 27% of new personalized drug. With the growth in personalized medicine industry, biomarkers market is expected to pave further opportunities for vendors in the upcoming years. Furthermore, cancer is being diagnosed by biomarkers. According to a research paper of Washington University School of medicine in St. Louis, Pancreatic cancer kills more than 45,000 people in the U.S. every year. Often due to late diagnosis, the disease spreads hindering any further treatment. But with the help of biomarker, the cysts that can become cancerous can be identified beforehand, giving chances of early treatments. Thus, through these clinical trials, cancer can be treated with precision and at fast pace. Hence, the growth of biomarkers market is attributed to the decrease of cancer deaths. With the growing concern of cancer free world, the biomarkers market is set to see an impressive evaluation in the upcoming years. The application of biomarkers in the diagnostic field across the world is expected to grow at a CAGR of 11.25% during the forecast period 2019-2025.
Biomarkers Market Growth Drivers –
• Biomarkers Market to Help Reproductive, Maternal, and Newborn Health Issues –
Reports of World Health Organization (WHO) states that approximately 830 women die every day from preventable causes related to pregnancy. A discussion paper of Royal College of Obstrecians & Gynaecologists refer that biomarkers are used in identifying women with complications in early pregnancy. For almost 10 years, researches have been carried out and it proves the extensive use of biomarkers. World Health Organization (WHO), as a part of the Sustainable Development Goals, has set a target to reduce the global maternal mortality ratio to less than 70 per 100,000 live births between 2016 and 2030. Thus with surging concern to maternal mortality, biomarkers market will witness extreme growth as biomarkers can hinder the loss by early detection.
• Biomarkers Market to Create an Impact in Early detection of Cardiovascular Disease –
As per World Health Organization (WHO), 17.9 million people die each year from cardiovascular diseases (CVDs), which estimates up to 31% of the global deaths. 85% of all the CVD deaths are result of heart attacks and strokes. Use of tobacco and unhealthy diet cause CVDs. This disorder of heart and blood vessels shows signs of raised blood pressure, lipids, glucose as well as obesity. The reports of The National Center for Biotechnology Information (NCBI) states that a biomarker (low density lipoprotein [LDL] cholesterol) is used to guide in therapy to reduce the risk of CVD in future. In 2016, WHO and the United States Centers for Disease Control and Prevention (US CDC) had launched the Global Hearts Initiative to control and prevent CVDs to support governments’ motive. Thus, with these happenings, where government has taken the initiative to control CVDs and biomarkers can detect them, it is expected that biomarkers market is set to see growth opportunities attracting vendors to invest in it.
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Biomarkers Market: Competitive Landscape
The major players who are influencing and trying to capitalize on the demand influx in the biomarkers market from various end-use industries are F. Hoffmann-La Roche Ltd.; Abbott; Epigenomics AG; Agilent Technologies, Inc.; Johnson & Johnson Services, Inc.; Siemens Healthcare Private Limited; Bio-Rad Laboratories, Inc.; Thermo Fisher Scientific, Inc.; and Qiagen.
In 2017, Abbott collaborated with researchers at Hennepin County Medical Center in Minnesota and the University of Minnesota to develop biomarker test to identify traumatic brain injury. This will strengthen the position of the company in the biomarker market.
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