Biomarkers Market Size, Share, Growth Analysis, By Product & Service(Consumables (Assay Kits, Reagents & Chemicals, Columns & Filters), Services), By Type(Safety Biomarkers, Efficacy Biomarkers (Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamic Biomarkers), By Research Area(Genomics, Proteomics, Metabolomics, and Other Research Areas), By Technology(Immunoassays (ELISA, Protein Microarrays, Western Blot), NGS), By Disease Indication(Cancer, Infectious Diseases, Immunological Disorders, Neurological Disorders), By Application(Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine, Clinical Research), By End User(Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Other End Users), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2509 | Region: Global | Published Date: June, 2024
Pages: 219 |Tables: 92 |Figures: 76

Biomarkers Market Insights

Global Biomarkers Market size was valued at around USD 66.97 Billion in 2022 and is expected to rise from USD 75.88 Billion in 2023 to reach a value of USD 206.04 Billion by 2031, at a CAGR of 13.3% over the forecast period (2024–2031). 

Growth of the market is anticipated to be driven by the factors including the growing importance of companion diagnostics as an increase in cancer prevalence, rising funding in biomarker research, and important discoveries as a result of ongoing research. For instance, in October 2023 researchers from Boston University obtained funding from the National Institutes of Health totaling USD 4.6 million to develop novel lung cancer biomarkers. 

The discovery of potent medicines for the management of numerous illnesses, including cancer, cardiovascular, immunological, and neurological diseases, is made possible through research. Additionally, it aids in comprehending the methods for early detection and prevention of a specific disease. The amount of public and private investment in the sector has grown and noted. For instance, Quanterix Corp. declared in March 2022, that the Alzheimer's Drug Discovery Foundation has granted financing to hasten the development of a diagnostic plasma test for Alzheimer's disease.  

The role of biomarkers in the diagnosis of infectious diseases anticipated to witness significant growth in coming years. As an illustration, according to Frontiers in Microbiology, the possible MicroRNA-based biomarkers have been found for the identification of illnesses such as rhinoviruses, influenza infections, tuberculosis, HIV, malaria, Ebola, and Hendra virus. These miRNA-based indicators are meant to aid in early identification of infectious illnesses. Additionally biomarkers are used in management of neurological diseases to quantify molecules and monitor the condition of the brain.

US Biomarkers Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024–2031

Global Market Size

USD 66.97 billion

Largest Segment

Safety

Fastest Growth

Safety

Growth Rate

13.3% CAGR

Global Biomarkers Market ($ Bn)
Country Share for North America Region (%)

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Biomarkers Market Segmental Analysis

The biomarkers market is segmented based on Product & Service, Type, Research Area, Technology, Disease Indication, Application, End User, and Region. Based on Product & Service, the market is segmented into Consumables (Assay Kits, Reagents & Chemicals, Columns & Filters), Services, and Software.  Based on Type, the market is segmented into Safety Biomarkers, Efficacy Biomarkers (Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamic Biomarkers, Prognostic Biomarkers), Validation Biomarkers. Based on Research Area, the market is segmented into Genomics, Proteomics, Metabolomics, and Other Research Areas. Based on Technology, the market is segmented into Immunoassays (ELISA, Protein Microarrays, Western Blot), NGS, PCR, Mass Spectrometry, Chromatography, and Other Technologies. Based on Disease Indication, the market is segmented into Cancer, Infectious Diseases, Immunological Disorders, Neurological Disorders, Cardiovascular Disorders, and Other Disease Indications. Based on Application, the market is segmented into Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine, Clinical Research, and Other Applications. Based on End User, the market is segmented into Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Other End Users. Based on Region, the biomarkers market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. 

Analysis by Type 

The safety biomarkers had the biggest market share and was responsible for more than 37.80% of total revenue. The segment is expected to expand at a notable rate during the forecast period. The expansion of the segment is predicted to be fueled by an increase in the usage of safety biomarkers in medication research and development. Additionally, it is anticipated that a growing portion of the population will be at a high risk of contracting diseases like kidney disorders, cancer, and cardiovascular conditions. Additionally, factors contributing to segment growth include rising public awareness of the importance of regular health screenings and a decline in drug attrition rate, which is associated with biomarker-based therapies.  

However, the efficacy biomarkers segment is expected to grow at the highest compound annual growth rate from 2024 to 2031 because of their ability to predict a patient’s response to a particular therapy. Despite the existing challenges in conducting research, there is a great discovery regarding efficacy biomarkers. For instance, ATPase-copper Transporting β Polypeptide (ATP7B) is employed to identify ovarian cancer. Furthermore, synergistic collaborations between different corporations and academic institutions are set to enhance biomarker identification. In June 2023, National Cancer Institute launched the ComboMatch platform trial that helps the researchers in understanding the effective treatments of the various combinations. 

Analysis by Application 

The drug discovery and development segment was prominent in 2023 due to the useful application of biomarkers in drug development as these are more efficient in determining efficacy than clinical outcomes. This predictive capacity help to prevent possible failures within the developmental stages, thus reducing overall costs. Consequently, industry leaders are prioritizing biomarkers, leading to strategic partnerships that propel market growth. For instance, in June 2022, InterVenn Biosciences partnered with the Foundation for the National Institutes of Health’s Biomarker Consortium and the Worldwide Innovative Network (WIN) Consortium to advance clinical trials, enhance patient care, improve precision oncology, and accelerate biomarker discovery. 

The clinical diagnostics segment is anticipated to hold the highest growth rate from 2024 to 2031 due to continual investigations into novel diagnostic biomarkers. In February 2023, PHGDH and TRIM29, two new diagnostic tissue biomarkers for malignant pleural mesothelioma, were discovered by Japanese researchers. These biomarkers help in quick diagnosis and help the doctors differentiate between mesothelioma and other cancer types. Future research is opening up possible new biomarkers for identifying diseases in their initial stages such as Alzheimer’s, which is fueling more growth in this segment.

Global Biomarkers Market By Type (%), 2022 (%)

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Biomarkers Market Regional Insights

North America accounted for the largest biomarkers market revenue share in 2023 with over 44%. 00% to factors such as the high illness burden, rising awareness of biomarkers, favorable government policies, technology advances, and enhanced health care systems. The strategic location of this area and the various organic and inorganic activities implemented by significant enterprises are key determinants expected to boost this region. For instance, in November 2023 Akoya Biosciences, Inc. launched PhenoCode signature panels for high-throughput spatial biomarker discovery.

Asia-Pacific, however, is expected to grow at the fastest rate throughout that particular period. Increased funding for biomarker growth, a high cancer incidence rate, increased activity in research, and affordable clinical trials in developing countries are some of the factors that are expected to drive regional growth. Moreover, it is expected that rising funding for biotech and pharmaceutical enterprises, growing CRO numbers, and expanding biomarker applications will foster regional market growth for the predicted timeframe.

Global Biomarkers Market By Geography, 2024–2031
  • Largest
  • Fastest

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Biomarkers Market Dynamics

Biomarkers Market Drivers

Growing Demand for Personalized Medicine

  • Personalized medicine is in high demand due to the ability to adopt unique treatment procedures to patients. Biomarkers are invaluable in the concept of individualized medicine since they may provide information about the molecular characteristics of the patients that may be useful in their management. 

Rising Need for Advanced Diagnostic Tools Driven by Chronic Disease Prevalence

  • The fact that there are more chronic diseases today requiring new and early detection equipments. Biomarkers perform crucial roles in that they make it possible to identify and monitor diseases on a molecular level. Innovations in the omics platforms of genomics and proteomics add to the development of new biomarkers, thereby enhancing diagnostics. In addition, rising focus on personalized medication and exact therapeutic approaches contributes to the demand for biomarkers to deliver therapies in accordance with unique patient characteristics. 

Restraints 

Lack of Standardization

  • Currently, there are no standard guidelines that govern the biomarker’s discovery and development process, which impacts the quality of biomarker tests. This can hamper the use of biomarkers in the clinical setting, and can also foster regulatory issues. 

Challenges in Biomarker Validation and Standardization

  • Challenges that might have made biomarker validation and standardization difficult, specifically variability in effects and difficulties that prevent their incorporation into medical exercise. Policy questions and the need for more stringent validation methods are some of the reasons that have ensured that biomarker implementation is slower. Furthermore, there are issues associated with the privateness of affected individuals and safety of their information in biomarker-based diagnostics which gives an ethical and regulatory concern. Another downfall is high improvement costs, particularly in the discovery of new biomarkers, which also restrict their large usage.

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Biomarkers Market Competitive Landscape

To enhance their market share, major firms are implementing tactics including new product development, merger & acquisition, and collaboration. A number of market participants, including Abbott and F. Hoffmann-La Roche Ltd., are actively working on developing new biomarker solutions. To increase access to individualized oncology biomarker testing, Thermo Fisher Scientific, Inc. introduced CE-IVD (IVDD) NGS test and analysis software in August 2022.

Biomarkers Market Top Player’s Company Profiles

 

 

 

  • F. Hoffmann-La Roche AG (Switzerland) 
  • Thermo Fisher Scientific Inc. (United States) 
  • Agilent Technologies, Inc. (United States) 
  • QIAGEN N.V. (Netherlands) 
  • Bio-Rad Laboratories, Inc. (United States) 
  • Merck & Co., Inc. (United States)  
  • PerkinElmer, Inc. (United States) 
  • Illumina, Inc. (United States) 
  • BD (Becton, Dickinson and Company) (United States) 
  • Myriad Genetics, Inc. (United States) 
  • Siemens Healthineers AG (Germany) 
  • Danaher Corporation (United States) 
  • Biomerieux SA (France) 
  • Waters Corporation (United States) 
  • Abbott Laboratories (United States) 
  • Sysmex Corporation (Japan) 
  • Bio-Techne Corporation (United States) 
  • Charles River Laboratories International, Inc. (United States) 
  • Eurofins Scientific SE (Luxembourg) 
  • Pacific Biomarkers (United States)

Biomarkers Market Recent Developments

  • In March 2024, Alamar Biosciences announced the commercial launch of its ultra-high sensitivity NULISAseq™ CNS Disease Panel 120 and NULISAqpcr™ PTau-217 assays. 

  • In October 2023, Summa Equity AB, the primary shareholder of Olink Holding AB, received counsel from Ropes & Gray in the sale to Thermo Fisher Scientific Inc. Olink specializes in offering proteomics research services and products for pharmaceutical firms, clinical entities, and academic institutions across diverse disease areas. Thermo Fisher will initiate a tender offer to purchase all outstanding Olink common shares and American Depositary Shares.  

  • In October 2023, Labcorp revealed the introduction of a tri-biomarker blood test designed for the diagnosis of Alzheimer’s disease.

Biomarkers Key Market Trends

  • Increasing Use of Companion Diagnostics: Companion diagnostics are tests which are intended to detect biomarkers that can reveal whether a certain patient can benefit from a specific treatment or not. These tests are being presented as critical tools in drug development and pharmacogenomics. Consequently, the market for companion diagnostics is expanding, and most of the pharmaceutical companies are entering into cooperative agreements with diagnostic companies to create and market these tests. 

  • Growing Interest in Liquid Biopsy: Liquid biopsy is a minimally invasive diagnostic method designed to detect biomarkers in the patient’s blood or other fluid. This technique is receiving growing attention in the biomarkers market, as it enables early diagnosis of cancer and other diseases and can also serve as a means of evaluating treatment efficacy. A number of companies are currently in the process of commercialising liquid biopsy tests, and this market is predicted to expand at a very fast pace over the next few years.

Biomarkers Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research. 

According to our biomarkers market analysis, we found that the growing importance of companion diagnostics, an increase in cancer prevalence, rising funding in biomarker research, and important discoveries as a result of ongoing research are the key factors augmenting the growth of this market. For example, in October 2022 Boston University’s research team secured NIH funding of USD 4. 6 million to develop new lung cancer biomarkers. Another factor that has an effect on the market growth is advancing technologies in developing biomarker-based diagnostic systems.

Report Metric Details
Market size value in 2022 USD 66.97 Billion
Market size value in 2031 USD 206.04 Billion
Growth Rate 13.3%
Base year 2023
Forecast period 2024–2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product & Service
    • Consumables (Assay Kits, Reagents & Chemicals, Columns & Filters), Services, and Software
  • Type
    • Safety Biomarkers, Efficacy Biomarkers (Predictive Biomarkers, Surrogate Biomarkers, Pharmacodynamic Biomarkers, Prognostic Biomarkers), and Validation Biomarkers
  • Research Area
    • Genomics, Proteomics, Metabolomics, and Other Research Areas
  • Technology
    • Immunoassays (ELISA, Protein Microarrays, Western Blot), NGS, PCR, Mass Spectrometry, Chromatography, and Other Technologies
  • Disease Indication
    • Cancer, Infectious Diseases, Immunological Disorders, Neurological Disorders, Cardiovascular Disorders, and Other Disease Indications
  • Application
    • Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine, Clinical Research, and Other Applications
  • End User
    • Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, and Other End Users
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • F. Hoffmann-La Roche AG (Switzerland) 
  • Thermo Fisher Scientific Inc. (United States) 
  • Agilent Technologies, Inc. (United States) 
  • QIAGEN N.V. (Netherlands) 
  • Bio-Rad Laboratories, Inc. (United States) 
  • Merck & Co., Inc. (United States)  
  • PerkinElmer, Inc. (United States) 
  • Illumina, Inc. (United States) 
  • BD (Becton, Dickinson and Company) (United States) 
  • Myriad Genetics, Inc. (United States) 
  • Siemens Healthineers AG (Germany) 
  • Danaher Corporation (United States) 
  • Biomerieux SA (France) 
  • Waters Corporation (United States) 
  • Abbott Laboratories (United States) 
  • Sysmex Corporation (Japan) 
  • Bio-Techne Corporation (United States) 
  • Charles River Laboratories International, Inc. (United States) 
  • Eurofins Scientific SE (Luxembourg) 
  • Pacific Biomarkers (United States)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Biomarkers Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Biomarkers Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Biomarkers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biomarkers Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biomarkers Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Biomarkers Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Biomarkers Market size was valued at around USD 66.97 Billion in 2022 and is expected to rise from USD 75.88 Billion in 2023 to reach a value of USD 206.04 Billion by 2031, at a CAGR of 13.3% over the forecast period (2024–2031). 

To enhance their market share, major firms are implementing tactics including new product development, merger & acquisition, and collaboration. A number of market participants, including Abbott and F. Hoffmann-La Roche Ltd., are actively working on developing new biomarker solutions. To increase access to individualized oncology biomarker testing, Thermo Fisher Scientific, Inc. introduced CE-IVD (IVDD) NGS test and analysis software in August 2022. 'F. Hoffmann-La Roche AG (Switzerland) ', 'Thermo Fisher Scientific Inc. (United States) ', 'Agilent Technologies, Inc. (United States) ', 'QIAGEN N.V. (Netherlands) ', 'Bio-Rad Laboratories, Inc. (United States) ', 'Merck & Co., Inc. (United States)  ', 'PerkinElmer, Inc. (United States) ', 'Illumina, Inc. (United States) ', 'BD (Becton, Dickinson and Company) (United States) ', 'Myriad Genetics, Inc. (United States) ', 'Siemens Healthineers AG (Germany) ', 'Danaher Corporation (United States) ', 'Biomerieux SA (France) ', 'Waters Corporation (United States) ', 'Abbott Laboratories (United States) ', 'Sysmex Corporation (Japan) ', 'Bio-Techne Corporation (United States) ', 'Charles River Laboratories International, Inc. (United States) ', 'Eurofins Scientific SE (Luxembourg) ', 'Pacific Biomarkers (United States)'

North America accounted for the largest biomarkers market revenue share in 2023 with over 44%. 00% to factors such as the high illness burden, rising awareness of biomarkers, favorable government policies, technology advances, and enhanced health care systems. The strategic location of this area and the various organic and inorganic activities implemented by significant enterprises are key determinants expected to boost this region. For instance, in November 2023 Akoya Biosciences, Inc. launched PhenoCode signature panels for high-throughput spatial biomarker discovery.

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