Biomarker Technologies Market Expected To Grow At 12.4% Reaching Over US$ 117,853 Mn by 2027

Biomarker technologies market
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Acumen Research and Consulting recently published a report titled “Biomarker Technologies Market Size, Share, Growth, Trends, Revenue and Forecast, 2020-2027”. According to the report, the biomarker technologies market is expected to grow at a CAGR of around 12.4% from 2020 to 2027 and reach the market value of over US$ 117,853.1 Mn by 2027.

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Biomarker technology is for the rational development of medical therapeutics. The applications include diagnostic, monitoring, pharmacodynamic/response, predictive, prognostic, safety, and susceptibility/risk biomarkers. It has major uses in research and clinical practice, particularly in the fields of chronic disease and nutrition. The biomarker technology market is particularly gaining growth on account of increasing healthcare facilities in developing economies. Increasing geriatric population, R&D funding, technological advancement, and increasing cases of geriatric population are some of the factors accelerating the market growth, says a press release.

The biomarker technologies market is segmented into test type, product, technology, application, indication, and major geographic regions. On the basis of test type, market segments include solid biopsy and liquid biopsy. By product, the market is divided into consumables, instruments, services, and software/informatics. Based on technology, the market bifurcated into ddPCR, NGS, immunoassay, mass spectrometry, DHPLC, other technologies. Additionally, it has found applications across drug discovery, diagnostics, and personalized medicine. By indication, the market is bifurcated into cancer, infectious diseases, autoimmune disorders, cardiovascular disorders, and others.

By product, the consumables segment accounted for the maximum share in 2019. The segment is also projected to continue at the same pace over the forecast period from 2020 to 2027. The consumables include reagents & kits and chromatography columns and are getting maximum share due to their large sales volume.

In 2019, North America held the major share of the global biomarker technologies market. The region is further projected to continue with its dominance over the estimated timeframe. The well-established healthcare infrastructure and favorable reimbursement scenario are favoring the regional market value. Apart from these, Asia Pacific region is projected to experience the fastest growth over the estimated period from 2020 to 2027.

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A doctor and a patient
Image: AMC

Some of the leading competitors are Agilent Technologies (US), Bio-Rad Laboratories (US), Danaher Corporation (US), F. Hoffmann-La Roche AG, Illumina, Inc., LI-COR, Inc., Merck KGAA, PerkinElmer Inc., QIAGEN, Roche (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), and Waters Corporation (US). Biomarker technologies companies have announced mergers and acquisitions to expand their position in the biomarker technologies industry. Major players are also moving into new regions and advanced technologies for market expansion.

Some of the key observations regarding biomarker technologies industry include:

  • Australian start-up, Nutromics is developing painless “The world-first personalized nutrition wearable” that measures key dietary biomarkers and sends the information to an app, enabling users to precisely track how their bodies respond to different foods. The wearable smart patch is intended to deliver precision data to help people personalize their diets and reduce their risk of developing lifestyle-related chronic diseases like Type 2 diabetes.
  • Medicortex Finland Oy, a biopharmaceutical company is developing diagnostics and drug treatment for mild traumatic brain injury (TBI) in 2020. The company has announced that it has received European Patent No. 3283880 for “Prognostic and diagnostic glycan-based biomarkers of brain damage” from the European Patent Office (EPO) in 2020. The kit comprises specific biomarkers that the company has discovered from body fluids following brain injury.
  • Researchers from Graz have now developed a test for early detection of sepsis. Researchers have discovered biomarkers that are useful for detecting blood poisoning at an early stage and according to the early detection can increase the chance of survival for a significant number of patients because as per statistics every year 8% of all deaths in Austria are caused by blood poisoning. The team has identified 24 biomarkers that are capable of detecting sepsis at an earlier stage than what was previously possible.
  • The researchers from The University of Texas MD Anderson Cancer Center’s Therapeutics Discovery division and Ipsen Biopharmaceuticals reported the preclinical discovery and early-stage clinical development of a novel drug, IPN60090. The new drug is under investigation in a Phase I trial and expected to hold benefits for certain patients with lung and ovarian cancers. Furthermore, the analysis revealed biomarkers of response, which have been leveraged to identify patients most likely to benefit.