Biomarker Discovery Outsourcing Services Market Size is valued at USD 12.16 billion in 2023 and is predicted to reach USD 52.82 billion by the year 2031 at a 20.38% CAGR during the forecast period for 2024-2031.
The demand for personalized therapies and companion diagnostics, which rely on biomarkers, stands as a fundamental driver in the biomarker discovery services market. Collaborative initiatives involving academic institutions, research organizations, and pharmaceutical companies in biomarker discovery projects stimulate growth by combining resources and expertise. The COVID-19 pandemic underscored the crucial significance of biomarkers in the realm of infectious disease diagnostics and public health. This heightened awareness, along with increased research funding, has ignited growth within the biomarker discovery services market. The existence of supportive regulatory frameworks and guidelines for biomarker development and validation plays a pivotal role in encouraging the utilization of biomarkers in clinical applications, further propelling market growth. Additionally, the urgency of the pandemic has specifically fueled augmented funding and research interest in biomarkers for infectious diseases, delivering a substantial boost to the market. The strict regulatory demands and compliance considerations may pose obstacles to the delegation of biomarker discovery services.
Moreover, organizations must verify that their selected service providers adhere to essential quality and safety criteria, a task that can be intricate and time-intensive. Biomarker discovery involves a multifaceted and intricate process. Uncovering biomarkers that are both meaningful and practical frequently necessitates a profound comprehension of biology, bioinformatics, and data analysis, a challenge that may take more work to achieve through outsourcing
Recent Developments:
- In Sept 2020, Thermo Fisher Scientific has announced new partnerships between the Thermo Fisher Precision Medicine Science Center (PMSC) and AstraZeneca, as well as the University of Nebraska Medical Center. These collaborations aim to address unmet requirements in clinical biomarker discovery by developing creative solutions. The recent agreements enhance the PMSC's objective of establishing uniform procedures with pharmaceutical and academic collaborators to simplify the progression from biomarker research to clinical application, hence generating novel prospects for precision medicine.
Competitive Landscape
Some of the biomarker discovery outsourcing services market key players are:
- Laboratory Corporation of America Holdings
- Charles River Laboratories
- Eurofins Scientific
- Celeron; ICON plc.
- Parexel International (MA) Corporation
- Proteome Sciences
- GHO Capital
- Thermos Fisher Scientific Inc.
Market Segmentation:
The biomarker discovery outsourcing services market is segmented on the basis of type, therapeutic area, discovery phase and end users. Based on type, the market is segmented as predictive biomarkers, prognostic biomarkers, safety biomarkers and surrogate endpoints. By therapeutic area, the market is segmented as oncology, neurology, cardiology, autoimmune diseases and others. By the discovery phase, the market is segmented into biomarker identification, biomarker validation, biomarker profiling, biomarker panel development and biomarker selection. By end users, the market is segmented into pharmaceutical companies, biotechnology companies and others.
Based On The Product, The Biomarker Validation Segment Is Accounted As A Major Contributor In The Biomarker Discovery Outsourcing Services Market.
The biomarker validation category is expected to hold a major share of the global biomarker discovery outsourcing services market in 2024. The process of "biomarker validation" serves to confirm the accuracy, reliability, and clinical suitability of potential biomarkers. It encompasses both the discovery of biomarkers in research settings and their subsequent integration into clinical applications. The demand for biomarker validation services is substantial, primarily driven by the emphasis on translating research findings into clinical practice. Additionally, regulatory entities like the FDA and the European Medicines Agency (EMA) mandate rigorous validation of biomarkers to ensure their suitability for diagnostic, prognostic, or treatment selection purposes. These factors are anticipated to act as catalysts for market expansion.
The Predictive Biomarkers Segment Witnessed Growth At A Rapid Rate.
The predictive biomarkers segment is projected to grow at a rapid rate in the global biomarker discovery outsourcing services market. Pharmaceutical and biotechnology firms are increasingly utilizing predictive biomarkers to identify patient groups with a higher likelihood of responding positively to experimental drugs. Predictive biomarkers are appealing from a commercial standpoint due to their capacity to expedite drug development and streamline regulatory approval processes, thereby leading to cost savings and revenue generation. Predictive biomarkers are instrumental in driving innovation and growth within the biomarker discovery outsourcing services market. They offer the promise of more effective treatments, reduced healthcare costs, and improved patient outcomes, making them a focal point in the field of biomarker research and development.
In The Region, The North American Biomarker Discovery Outsourcing Services Market Holds A Significant Revenue Share.
The North American biomarker discovery outsourcing services market is expected to register the highest market share. A strong focus on research and development, advanced healthcare infrastructure, regulatory support, collaborative partnerships, and significant funding characterizes the biomarker discovery outsourcing services market in North America. It plays a pivotal role in advancing personalized medicine and the development of innovative therapies. In addition, Asia Pacific is projected to grow at a rapid rate in the global biomarker discovery outsourcing services market. The Asia Pacific region has a diverse healthcare landscape with varying disease patterns and genetic profiles. This diversity creates opportunities for biomarker discovery, as specific biomarkers may be needed for different populations. Some countries in the region have initiated government-funded programs to support biomarker research and development. These programs aim to foster innovation and enhance the competitiveness of the biomarker discovery market in the Asia Pacific.
Biomarker Discovery Outsourcing Services Market Report Scope
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 12.16 Bn |
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Revenue Forecast In 2031 |
USD 52.82 Bn |
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Growth Rate CAGR |
CAGR of 20.38 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn, and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Component, Material, Capacity, Voltage, And Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; Southeast Asia |
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Competitive Landscape |
Laboratory Corporation of America Holdings; Charles River Laboratories; Eurofins Scientific; Celerion; ICON plc.; Parexel International (MA) Corporation; Proteome Sciences; GHO Capital; Thermo Fisher Scientific Inc., Evotec. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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