Biomarker Testing Services Market Size & Share Analysis - Growth, Trends And Forecast (2024 - 2029)

Biomarker Testing Services Market Analysis

The Biomarker Testing Services Market size is estimated at USD 602.56 million in 2024, and is expected to reach USD 879.63 million by 2029, at a CAGR of 7.86% during the forecast period (2024-2029).

The growth of the biomarkers testing services market can be attributed to factors such as rising demand for personalized medicine, the increasing prevalence of chronic diseases, and the heightened need for biomarkers in drug development and clinical trials.

As global neurological diseases become more common, the adoption of biomarkers is likely to intensify. For instance, a study of the Global Burden of Disease (GBD), published by the World Federation of Neurology in October 2023, stated that the number of people living with brain disease is expected to double by 2050. The study also highlighted that over 40% of the global population currently suffers from some kind of neurological condition. Additionally, in April 2024, Neurology Journals published a study projecting approximately 4.9 billion brain disorder cases by 2050, marking a 22% rise from the last three-year estimates. Such an increase in the prevalence of neurological diseases will likely push companies to develop newer targets for cancer diagnosis, ultimately boosting the demand for biomarker testing services over the coming years.

Moreover, increasing research and development activities by several market players is a major contributor to market growth. For instance, in November 2023, Charles River Laboratories entered into a partnership agreement with Aitia, Inc.to incorporate Logica, an innovative platform, into their discovery programs focused on oncology and neurodegenerative diseases. This collaboration aims to leverage Logica's capabilities in biomarker identification and validation, thereby enhancing the efficacy of drug discovery efforts. The integration is expected to drive advancements in biomarker testing services within the biopharmaceutical industry.

Thus, owing to the above-mentioned factors, such as the rising prevalence of life-threatening diseases, the rising usage of biomarkers in disease diagnosis, and increasing research and development activities. the market is expected to grow over the forecast period. However, issues related to regulatory and reimbursement systems and the high cost of biomarkers may hinder the market's growth.

Biomarker Testing Services Market Trends

The Biomarker Assay Development & Validation Segment is Expected to Hold a Major Share in the Biomarker Testing Services Market during the Forecast Period

Biomarker Testing Services Industry Segmentation

As per the scope of the report, biomarker testing involves the identification, measurement, and analysis of specific biological markers that indicate normal or abnormal biological processes, disease presence, or response to treatment.

The biomarker testing services market is segmented by services, applications, end users, and geography. In terms of services, the market is segmented as biomarker assay development & validation, biomarker identification, biomarker profiling, and others. The other types of services include the development of drug-specific pharmacodynamic markers, and sample analysis, among others. By application, the market is segmented into disease diagnosis, drug development, clinical trials, and others. The other applications include toxicology and safety monitoring, and disease management. By end user, the market is segmented as pharmaceutical and biotechnology companies, academic institutes, and research centers, and others. The other end-users include diagnostic laboratories and contract research organizations, among others. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. For each segment, the market sizing and forecasts have been done on the basis of value (in USD)