PUBLISHER: The Business Research Company | PRODUCT CODE: 1518246
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518246
Biomarker clinical phase outsourcing services involve contracting specialized firms or organizations to handle various aspects of clinical trials related to biomarkers. Biomarkers are measurable indicators of biological states or conditions, commonly utilized in medical research and clinical trials to evaluate the effectiveness or safety of drugs or treatments.
The primary types of biomarker clinical phase outsourcing services include surrogate endpoints, predictive biomarkers, prognostic biomarkers, safety biomarkers, and others. Surrogate endpoints serve as biomarkers intended to substitute for a clinical endpoint. Outsourcing services utilize surrogate endpoints to streamline clinical trials by providing early indications of efficacy, reducing trial duration, and potentially accelerating regulatory approvals. Service types such as biomarker validation, biomarker testing services, and biomarker sample analysis cater to therapeutic areas including oncology, neurology, cardiology, autoimmune diseases, and others. The end users typically include pharmaceutical companies, biotechnology companies, as well as academic and research institutions.
The biomarker clinical phase outsourcing services market research report is one of a series of new reports from The Business Research Company that provides biomarker clinical phase outsourcing services market statistics, including biomarker clinical phase outsourcing services industry global market size, regional shares, competitors with an biomarker clinical phase outsourcing services market share, detailed biomarker clinical phase outsourcing services market segments, market trends and opportunities, and any further data you may need to thrive in the biomarker clinical phase outsourcing services industry. This biomarker clinical phase outsourcing services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biomarker clinical phase outsourcing services market size has grown exponentially in recent years. It will grow from $7.91 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth observed during the historical period can be attributed to several factors, including rising government initiatives and funding, an increase in the diagnostic applications of biomarkers, a rise in R&D funding from governmental sources, rapid advancements in technologies such as genomics, proteomics, and imaging, as well as the growing demand for cancer biomarkers.
The biomarker clinical phase outsourcing services market size is expected to see exponential growth in the next few years. It will grow to $22.09 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing utilization of biomarkers across various phases of clinical trials. The expansion of biomarker usage in clinical trials correlates with the rising demand for precision medicines and the growing adoption of companion diagnostics and personalized medicine. Major trends expected in the forecast period include the incorporation of advanced parameters in trials, a focus on diagnostic-centered clinical phases, rapid advancements in biomarker technology, escalating government initiatives and funding, as well as technological advancements.
The anticipated increase in clinical trials is set to drive the growth of the biomarker clinical phase outsourcing services market in the future. Clinical trials involve research studies conducted with human participants to assess the safety and effectiveness of new medical treatments, interventions, or diagnostic methods. This surge in clinical trials is facilitated by advancements in medical research, the growing prevalence of chronic diseases, augmented funding from governmental and private sources, and the rising demand for innovative treatments and therapies. Outsourcing providers often possess specialized knowledge and expertise in biomarker discovery, validation, and analysis, which can enhance the quality and reliability of biomarker data collected during trials. For example, data from the United States National Library of Medicine in May 2023 revealed an increase in registered clinical trials from 399,499 in 2022 to 437,533 across all 50 states and 221 countries. Additionally, the report indicated that 140,492 studies (31%) were registered in the United States alone, while 241,498 studies (53%) were recorded in non-U.S. locations. Therefore, the rise in clinical trials is expected to propel the growth of the biomarker clinical phase outsourcing services market.
Key players in the biomarker clinical phase outsourcing services market are concentrating on advancements in high-throughput flow cytometry and ELISpot testing to gain a competitive advantage. These technologies are utilized for biomarker analysis, providing rapid and precise assessment of immune responses and cellular markers. For instance, in November 2022, Celerion Inc., a U.S.-based biotechnology outsourcing services company, broadened its service portfolio to encompass GLP/GCP-compliant molecular and cell biology testing. This strategic expansion aims to bolster Celerion's capabilities in supporting clients throughout the drug development process, from early clinical research to regulatory submissions. By adding GLP/GCP-compliant molecular and cell biology tests, such as pharmacokinetic (PK), pharmacodynamic (PD), and biomarker analysis, Celerion can offer a more comprehensive range of services to assist clients in generating high-quality data meeting regulatory standards, thereby expediting the development of new medicines.
In April 2021, Vitruvian Partners LLP, a UK-based private equity firm, acquired KCAS Bio for an undisclosed sum. This investment is intended to bolster KCAS's operations in Kansas City and enhance its capabilities to cater to the needs of pharmaceutical and biotech clients. The acquisition aligns with Vitruvian Partners' strategy of supporting top-tier companies in crucial market sectors with opportunities for international expansion. KCAS Bio is a U.S.-based clinical outsourcing company providing bioanalytical and biomarker development testing services.
Major companies operating in the biomarker clinical phase outsourcing services market are Thermo Fisher Scientific Inc., Labcorp Drug Development Inc., ICON plc, Eurofins Scientific SE, WuXi AppTec Co. Ltd., Syneos Health Inc., Intertek Group plc, Charles River Laboratories International Inc., Parexel International Corporation, QIAGEN N.V., Medpace Inc., Bioclinica Inc., Evotec SE, GenScript Biotech Corporation, Precision for Medicine Inc., BioAgilytix Labs LLC, Celerion Inc., Frontage Laboratories Inc., SomaLogic Inc., Selvita S.A., BioIVT LLC, Discovery Life Sciences LLC, Metabolon Inc., Caprion Proteomics Inc., Canopy Biosciences LLC
North America was the largest region in the biomarker clinical phase outsourcing services market in 2023. The regions covered in the biomarker clinical phase outsourcing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the biomarker clinical phase outsourcing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The biomarker clinical phase outsourcing services market includes revenues earned by entities by consulting services, diagnostic tests, clinical trial design, and biomarker sample analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biomarker Clinical Phase Outsourcing Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biomarker clinical phase outsourcing services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biomarker clinical phase outsourcing services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biomarker clinical phase outsourcing services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.