Driven by the rising prevalence of chronic and neurodegenerative diseases and the growing popularity of remote technologies such as medical wearables, the Global Biomarkers Market is Forecasted to Cross US$85 Bn by 2028 says Ken Research Study.
A
biomarker, also known as a biological marker, is an objective measure used to
indicate that a biological process in the body has occurred or is currently
occurring. While some biomarkers are used to demonstrate that the body has been
exposed to a chemical, toxin, or other environmental hazards, the majority of
biomarkers are associated with medicine. Several biomarkers are derived from
simple observations made during a routine medical appointment, such as blood
pressure or body composition. Other biomarkers are based on laboratory tests of
blood, urine, or tissues, and some can detect changes at the molecular and
cellular level by examining genes or proteins.
According
to Ken Research estimates, the Global
Biomarkers Market – which grew from around US$ 27 Bn in 2017 to
nearly US$40 Bn in 2021 – is expected to grow further into a more than US$85 Bn
opportunity by 2028 - “Ken Research shares 5 key insights on this high
opportunity market from its latest research study”
1. Biomarkers have seen
Accelerated Growth after Several Proactive Interventions and Rising Funding for
the Diagnosis of Multiple Disorders and Diseases.
The
Global Biomarkers Market is expected to witness strong growth during the
forecast period, owing to increasing favorable government initiatives
concerning drug development or research, along with soaring digital healthcare
funding. For instance, in July 2022, the National Institute of Neurological Disorders
and Stroke (NINDS) stated that its Biomarker Program, which was initiated in
2012 to expedite the discovery of exploring new diagnostic and progression
biomarkers for Parkinson's Disease, nowadays is focusing on increasing the
efficiency and effectiveness of neurotherapeutic clinical research by
supporting rigorous biomarker advancement and validation. In addition, to achieve
such a goal, the program:
- Promotes stringent
biomarker identification and validation through funding opportunities.
- Facilitates the
creation of potential resources primarily directed at filling gaps in the
biomarker testing process.
Furthermore,
on November 2, 2021, Members of the European Platform for Neurodegenerative
Diseases (EPND), which was established by the EU for the storage and analysis
of high-quality clinical and biological samples and data collections, announced
that they will embark on an initiative to establish a unified platform for
efficient sample and data exchange, leveraging, and connecting existing European
research infrastructures to boost the discovery of biomarkers, new diagnostics,
and treatments for people with neurodegenerative diseases such as Alzheimer's
and Parkinson's.
2. The Rising Prevalence of Chronic and Neurodegenerative
Diseases and Growing Popularity of Remote Technologies are Major Growth Drivers
for Global Biomarkers Market.
The
increasing prevalence of chronic and neurodegenerative diseases, including
Neurodegenerative disorders, Alzheimer’s disease (AD), and Parkinson’s disease
(PD) due to an aging population, has led to increasing demand for improved drug
development or research to effectively combat these diseases.
- For instance,
according to Alzheimer's Disease Association, a U.S.-based non-profit
organization, presently nearly 6.2 million individuals in the U.S. have
Alzheimer's disease, a progressive neurologic disorder that leads the
brain to shrink and brain cells to die.
- According to
Parkinson’s Foundation, a U.S.-based non-profit organization, nearly a
million Americans have Parkinson's disease (PD), a brain disorder that
leads to unrestrained movements such as wobbling, stiffness, and
difficulty with balance and coordination, with the number expected to
increase to 1.2 million by 2030. In addition, over 10 million people
worldwide are currently affected by Parkinson's disease (PD).
Furthermore,
the rising cost of drug development, the proliferation of wearable devices in healthcare,
and rising smartphone penetration have all contributed to the increased demand
for digital biomarkers (DBMs). In addition, multiple digital healthcare
applications are available on Google Play and iOS that are allowing users to
track biological functions such as sleep, heartbeat, and movement, thereby
supporting the growth of the biomarker market.
3. Digital Diagnostics and Digital Therapeutic Medical
Devices have Emerged as an Immersive Opportunity for Healthcare Innovation.
The
majority of the ongoing evolution in the life sciences industry is being driven
by technology. The rise of digital health is likely to be a defining aspect of
the industry in the forthcoming years. The influence of digital health and
artificial intelligence (AI) will extend beyond even innovative products like
wearables and diagnostics, as well as new processes like
decentralized clinical trials. AI technologies will become more widely
accessible and affordable with the introduction of cloud-based, off-the-shelf
AI tools. Furthermore, the emergence of wearables and mobile health (mHealth)
technologies will enable more efficient collection and analysis of digital
biomarkers, and provide valuable data for AI systems applications.
4. The Drug Discovery & Development Segment is Likely
to Grow Significantly during the Forecasted Period.
The extensive
R&D initiatives for the development of therapeutic, and the ability of
biomarkers to foresee drug efficacy more effectively with its high-speed
approval process, are fuelling its demand in drug discovery and development.
The ongoing covid-19 pandemic also strengthens the utilization of
biomarkers in drug discovery and development, due to increased investment and
advancement in innovative therapeutics and vaccines across a wide range of
disease aspects. As per industry estimates, the number of clinical trials has
witnessed steady growth from 2015 to 2021, including a jump in 2021 resulting
from COVID-19 vaccination trials.
5. North America is the Pioneer and Largest Market of
Biomarkers Owing to the Increased Adoption of Advanced Technologies, a Strong
Base of Healthcare Facilities, and Rising Investments from Key players in the
Development of Advanced Devices.
The
growth of biomarkers in North America is being attributed to the rising burden
of chronic disease, notably in the U.S., growing consumer awareness, proactive
government interventions, technology advancements, and improvements in
healthcare infrastructure. Furthermore, the increased prevalence of
precision/personalized medicine treatments is also contributing to regional
growth. For instance, according to the Personalized Medicine Coalition (PMC), a
non-profit educational and advocacy group which is dedicated to promoting the
understanding and adoption of personalized medicine concepts, services, and
products to benefit patients and the healthcare systems, the number of
personalized medicines on the market in the United States has increased from
132 in 2016 to 286 in 2020.
Digital
biomarkers, which are retrieved using portable, wearable, implantable, or
digestible digital devices, have also emerged as immersive tools for advancing
precision/personalized medicine and supporting clinical testing.
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