Biomarker Testing Services Market by Services, Techonology, Disease Area, Application, End-User

Description

List of Tables

[180 Pages Report] The Biomarker Testing Services Market size was estimated at USD 964.90 million in 2023 and expected to reach USD 1,031.96 million in 2024, at a CAGR 7.34% to reach USD 1,585.04 million by 2030.

Biomarker testing services refer to the clinical evaluation and analysis of biological markers (biomarkers) in the human body, which are indicative of normal or pathological symptoms or pharmacologic responses to a therapeutic treatment intervention. Biomarkers play a critical role in early detection, diagnosis, and monitoring the efficacy of treatments for various diseases, including cancer, cardiovascular disorders, and neurological conditions. The need for biomarker testing services is driven by the increasing incidences of genetic and chronic diseases worldwide, the growing recognition of the utility of biomarkers in personalized medicine, and advancements in biotechnology. A supportive regulatory environment has also facilitated the approval of biomarker-based tests and therapies. However, the high costs associated with biomarker tests and the requirement for sophisticated infrastructure and technology pose significant barriers. Additionally, the lack of universally accepted standards for biomarker testing and validation processes complicates their widespread adoption in clinical settings, and technical limitations of biomarker testing raise concerns about the accuracy of the technology. However, key players are exploring advances in bioinformatics, genomics, and proteomics to enhance the accuracy and reliability of biomarker tests. Additionally, the integration of AL/ML and data analytics technologies to enhance biomarker analysis and interpretation and collaborations between academic institutions, healthcare providers, and industry players to accelerate biomarker research and application can further expand the growth of the industry.

KEY MARKET STATISTICS
Base Year [2023]	USD 964.90 million
Estimated Year [2024]	USD 1,031.96 million
Forecast Year [2030]	USD 1,585.04 million
CAGR (%)	7.34%

Regional Insights

The Americas, particularly the U.S. and Canada, represent a significant market for biomarker testing services, attributed to advanced healthcare infrastructure, high healthcare expenditure, and a strong focus on research and innovation. The U.S. leads in the adoption of biomarker tests, driven by personalized healthcare trends and proactive government initiatives aiming at early disease detection and management. The region also supports numerous patents related to biomarker technology, showcasing a strong emphasis on developing more precise and predictive diagnostic tools. EU countries are witnessing a growing adoption of biomarker testing services due to the highly developed healthcare sector and extensive research activities supported by the EU's health programs, such as Horizon Europe. The recent focus has been on oncology and neurological disorders, with numerous initiatives aimed at integrating biomarker testing into clinical practice to enable personalized treatment approaches. EU's stringent regulations pertaining to biomarker development and biomarker testing have created a standardized framework for supporting innovations in biotechnology. The Middle East shows promise due to substantial investments in healthcare infrastructure and an increasing focus on preventative care. In the APAC region, nations such as China, Japan, and India showcase innovation in biomarker testing services. The need in these countries is driven by increasing healthcare spending, rising awareness regarding personalized medicine, and the burgeoning biopharmaceutical sector. China is witnessing rapid advancements in molecular diagnostics, fueled by both government and private sector investments in research and development. Japan, renowned for its technological innovation, sees a high adoption rate of advanced biomarker tests among its aging population, aiming for early detection and treatment strategies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Biomarker Testing Services Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing cancer drug development and need for high-performing biomarkers
- Government initiatives and investments for biomarker research
- Improved availability of financial coverage for biomarker testing

Market Restraints
- Time-consuming and expensive process of biomarker testing

Market Opportunities
- Advancements in biomarker testing tools & equipment with AI & ML
- Emerging CDMOs offering biomarker testing and analysis services

Market Challenges
- Barriers in testing due to lack of sample collection and authenticity

Market Segmentation Analysis
- Technology: Ongoing advancements to improve the versatility, speed, and amplification capabilities of polymerase chain reaction technology
- End-User: Emerging utilization of biomarker testing services by pharmaceutical & biotechnology companies for therapeutic interventions

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Biomarker Testing Services Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Biomarker Testing Services Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Mayo Clinic Laboratories and Progentec Collaborate To Bring Advanced Biomarker Testing Services To Patients With Autoimmune Diseases

In a strategic move poised to transform autoimmune disease management, Mayo Clinic Laboratories, has teamed up with Progentec Diagnostics, an innovator in digital health and biomarker technologies. This collaboration is set to deliver Progentec's novel suite of biomarker blood tests across the U.S. and selected international markets, enhancing the accessibility of advanced diagnostic solutions for both healthcare providers and patients battling autoimmune diseases. [Published On: 2023-11-14]

Novel Prostate Cancer Biomarker Test Launches on US Market

Quest Diagnostics, in collaboration with Envision Sciences, has launched an innovative prostate cancer biomarker test in the United States, a groundbreaking development aimed at enhancing the precision of prostate cancer biopsy grading. This strategic collaboration seeks to address a significant clinical need impacting millions of men in their cancer staging, diagnosis, and treatment journeys. [Published On: 2023-08-10]

Quanterix Launches LucentAD Biomarker Blood Test To Aid Physician Diagnosis of Alzheimer's Disease In Patients

Quanterix Corporation has launched its innovative LucentAD test, designed to facilitate the evaluation process for healthcare providers in diagnosing early signs of Alzheimer's disease (AD) in patients presenting cognitive symptoms. This cutting-edge test aims to streamline the process for clinicians when assessing the likelihood of amyloid pathology-an indicator of Alzheimer's disease. [Published On: 2023-07-14]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Biomarker Testing Services Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Biomarker Testing Services Market, highlighting leading vendors and their innovative profiles. These include Abcam PLC by Danaher Corporation, Agilent Technologies, Inc., Avid Bioservices, Inc., Bio-Rad Laboratories, Inc., BioAgilytix Labs, BiomarkerBay B. V., Bristol Myers Squibb, Eurofins Scientific SE, F. Hoffmann-La Roche AG, Icon PLC, Intertek Group PLC, IQVIA, JSR Life Sciences, LLC, KCAS Group, Laboratory Corporation of America Holdings, LGC Group, Merck KGaA, Myriad Genetics, Inc., NeoGenomics Laboratories, Parexel International Corporation, PerkinElmer Inc., Randox Laboratories, SGS S.A., Shuwen Biotech Co., Ltd., Syneos Health, Thermo Fisher Scientific, Inc., and WuXi Biologics Inc..

Market Segmentation & Coverage

This research report categorizes the Biomarker Testing Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

Services
- Biomarker Assay Development & Validation
- Flow Cytometry

Techonology
- Enzyme-Linked Immunosorbent Assay
- Mass Spectrometry
- Next-Generation Sequencing
- Polymerase Chain Reaction

Disease Area
- Autoimmune Diseases
- Cancer
- Cardiovascular Diseases
- Neurological Disorders

Application
- Drug Mechanism of Action
- Pharmacodynamic
- Predictive Clinical Studies
- Prognostic

End-User
- Contract Research Oraganizations
- Pharmaceutical & biotechnology companies
- Research Institutes

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-B16853779DF0

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing cancer drug development and need for high-performing biomarkers
  - 5.1.1.2. Government initiatives and investments for biomarker research
  - 5.1.1.3. Improved availability of financial coverage for biomarker testing
- 5.1.2. Restraints
  - 5.1.2.1. Time-consuming and expensive process of biomarker testing
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in biomarker testing tools & equipment with AI & ML
  - 5.1.3.2. Emerging CDMOs offering biomarker testing and analysis services
- 5.1.4. Challenges
  - 5.1.4.1. Barriers in testing due to lack of sample collection and authenticity
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Ongoing advancements to improve the versatility, speed, and amplification capabilities of polymerase chain reaction technology
- 5.2.2. End-User: Emerging utilization of biomarker testing services by pharmaceutical & biotechnology companies for therapeutic interventions
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Biomarker Testing Services Market, by Services

6.1. Introduction
6.2. Biomarker Assay Development & Validation
6.3. Flow Cytometry

7. Biomarker Testing Services Market, by Techonology

7.1. Introduction
7.2. Enzyme-Linked Immunosorbent Assay
7.3. Mass Spectrometry
7.4. Next-Generation Sequencing
7.5. Polymerase Chain Reaction

8. Biomarker Testing Services Market, by Disease Area

8.1. Introduction
8.2. Autoimmune Diseases
8.3. Cancer
8.4. Cardiovascular Diseases
8.5. Neurological Disorders

9. Biomarker Testing Services Market, by Application

9.1. Introduction
9.2. Drug Mechanism of Action
9.3. Pharmacodynamic
9.4. Predictive Clinical Studies
9.5. Prognostic

10. Biomarker Testing Services Market, by End-User

10.1. Introduction
10.2. Contract Research Oraganizations
10.3. Pharmaceutical & biotechnology companies
10.4. Research Institutes

11. Americas Biomarker Testing Services Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Biomarker Testing Services Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Biomarker Testing Services Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Mayo Clinic Laboratories and Progentec Collaborate To Bring Advanced Biomarker Testing Services To Patients With Autoimmune Diseases
- 14.3.2. Novel Prostate Cancer Biomarker Test Launches on US Market
- 14.3.3. Quanterix Launches LucentAD Biomarker Blood Test To Aid Physician Diagnosis of Alzheimer's Disease In Patients
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio