PUBLISHER: The Business Research Company | PRODUCT CODE: 1518247
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518247
Biomarker discovery outsourcing services refer to specialized services provided by external organizations or companies that assist in identifying, validating, and developing biomarkers. These services play a crucial role in advancing personalized medicine by enabling the identification of biological markers that can guide diagnosis, prognosis, and therapeutic decisions tailored to individual patients.
The main types of biomarker discovery outsourcing services include predictive biomarkers, prognostic biomarkers, safety biomarkers, and surrogate endpoints. Predictive biomarkers are biological indicators used to identify which patients are likely to benefit from a specific therapeutic intervention. The discovery phases encompass biomarker identification, validation, profiling, panel development, and selection, catering to therapeutic areas such as oncology, cardiology, neurology, autoimmune diseases, and others. End users of these services primarily include pharmaceutical and biotechnology companies.
The biomarker discovery outsourcing services market research report is one of a series of new reports from The Business Research Company that provides biomarker discovery outsourcing services market statistics, including biomarker discovery outsourcing services industry global market size, regional shares, competitors with an biomarker discovery outsourcing services market share, detailed biomarker discovery outsourcing services market segments, market trends and opportunities, and any further data you may need to thrive in the biomarker discovery outsourcing services industry. This biomarker discovery 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 discovery outsourcing services market size has grown rapidly in recent years. It will grow from $12.53 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to an increasing disease burden, pharmaceutical R&D demand, the regulatory environment, cost-effective solutions, research collaboration, and globalization.
The biomarker discovery outsourcing services market size is expected to see rapid growth in the next few years. It will grow to $26.85 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to the expansion of personalized medicine, integration of AI and machine learning, growth in precision oncology, biomarker validation services, regulatory support, demand for targeted therapies, and a shift towards patient-centric healthcare. Major trends in the forecast period include increased adoption of precision medicine, technological advancements, rising demand for companion diagnostics, expansion of drug development pipelines, emerging applications in non-traditional disease areas, integration of artificial intelligence (AI) and machine learning (ML), regulatory support and standardization, global market expansion, partnerships and collaborations, and a focus on cost-effectiveness and time efficiency.
The increasing emphasis on personalized medicine is set to drive the growth of the biomarker discovery outsourcing services market. Personalized medicine tailors medical treatment to each patient's individual characteristics, considering genetic, lifestyle, and environmental factors for precise healthcare outcomes and reduced adverse effects. Outsourcing biomarker discovery services supports the advancement of personalized medicine by offering customized diagnostic and therapeutic solutions based on patients' unique biological markers. For example, in February 2024, the FDA approved 16 new personalized treatments for rare disease patients, marking an increase from six approvals in 2022, as reported by the Personalized Medicine Coalition. This surge in personalized treatments highlights the growing focus on personalized medicine, fueling the demand for biomarker discovery outsourcing services.
Leading companies in the biomarker discovery outsourcing services market are concentrating on developing multiplexed biomarker assays, such as the immunoproteomic discovery platform, to enhance patient outcomes and drive advancements in biomarker discovery. The immunoproteomic discovery platform combines immunology and proteomics to identify and analyze proteins linked to the immune response. For instance, Sengenics Corporation LLC launched the immunoproteomic discovery platform in October 2023, offering a comprehensive protein microarray platform for analyzing disease-associated autoantibodies. This platform aids in immune biomarker discovery, supporting research teams in academia and clinical biopharmaceutical sectors to better understand protein interactions and disease dynamics.
In July 2021, ICON plc. acquired PRA Health Sciences for $12 billion, strengthening its consulting, clinical, and commercial services portfolio. This acquisition enhances ICON's capabilities in biomarker development, enabling faster clinical trials and commercial success for biopharmaceutical clients. PRA Health Sciences is known for providing biomarker development services to pharmaceutical, biotechnology, and medical device companies, further solidifying ICON's position in the biomarker discovery outsourcing services market.
Major companies operating in the biomarker discovery 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, Crown Bioscience Inc.
North America was the largest region in the biomarker discovery outsourcing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biomarker discovery 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 discovery outsourcing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The biomarker discovery outsourcing services market includes revenues earned by entities through validation and verification studies, clinical sample analysis, bioinformatics, and data 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 Discovery 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 discovery 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 discovery 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 discovery 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.