The biomarker testing services market size is estimated to be USD 1,452.4 million in 2022 and is expected to witness a CAGR of 7.91% during the forecast period 2023-2033. Rising demand for biomarkers in diagnosis, and increasing awareness of biomarkers among researchers, rising demand for biomarker testing services and strong demand among pharmaceutical and biopharmaceutical businesses for outsourcing biomarker testing services are projected to drive the market growth in near future. However, high price of biomarker validation are predicted to limit market growth are expected to restrain the market growth.

Rising demand for biomarker testing services is expected to propel the market growth during the projected period as a result of their potential to boost the manufacture of the novel and inventive pharmaceuticals and biologic items that will be required to prevent the pandemic. For instance, the FDA approved EUA in March 2021 for the Tiger Tech COVID Plus Monitor, which uses biomarkers to diagnose COVID-19 in asymptomatic persons and helps in disease prevention. Similar regulatory authority actions are anticipated to help the sector in the years that followed a pandemic.

Increasing demand for biomarkers is projected to fuel the market growth during the forecast period. These different categories of disease-specific biomarkers enable quicker and more precise disease detection. As a result, clinical drug trials take less time and the process of developing new medicines moves along more quickly. As biomarker testing services can detect changes in a cell’s genetic makeup, they are frequently employed in the development of new cancer treatments. These advantages of biomarkers will boost the market’s expansion throughout the course of the anticipated time period.

Segmentation

By Services

The market is categorized into flow cytometry, biomarker assay development, and others. In 2022, the biomarker assay development segment accounted for the highest revenue share due to the increasing volume of clinical research and drug discovery activities that demand for the development and validation of biomarker assays. The flow cytometry segment is anticipated to expand at a significant CAGR during the projection period. Flow cytometry is used in preclinical and clinical settings to produce biomarker data as it delivers incredibly comprehensive information on any single cell in a diverse population. Flow cytometry is appropriate for transplant recipients and supports dose selection in clinical trials. Technology developments such as the introduction of microfluidic flow cytometry for biomarker analysis are enhancing biomarker testing.

 By End User

The market is segment into research institutes, pharmaceutical & biotechnology companies, and CRO. In the global market, the pharmaceutical & biotechnology companies segment accounted for the largest revenue share in 2022 owing to rise in the funding provided by the pharmaceutical and biotechnology industries for clinical research. Pharmaceutical companies are also becoming more interested in creating cancer targeted medicines. According to this, AstraZeneca and Roche formed a collaboration in September 2022 to completely redefine the way cancer is diagnosed and treated in the Middle East and North Africa. The partnership’s objectives were to eliminate barriers to biomarker testing and increase regional access to precision medications. Small and medium-sized CROs may lack biomarker testing service units in order to save funds on equipment costs and the cost of hiring staff for biomarker testing for medical research. The CRO segment’s growth during the forecast period due to the fact that Small and medium-sized CROs may lack biomarker testing service units in order to save funds on equipment costs and the cost of hiring staff for biomarker testing for medical research.

Regional Markets

In 2022, North America region accounted for the highest revenue in the biomarker testing services market and is expected to maintain its dominance during the forecast period. This is attributed to existence of major market players offering biomarker testing services there, rise in disease burden that causes a rise in laboratory diagnostic testing, the presence of a sophisticated healthcare infrastructure, and increasing R&D investment by public organisations in the area. To encourage research on COVID-19 biomarkers, for instance, the Canadian government provided $78,000 in funding in 2020. Asia Pacific is anticipated to grow at the fastest rate during the projected period. The region’s increasing senior population, combined with a growing demand for companion diagnostics, is driving up demand for biomarker testing services. The government’s attempts to assist clinical trials in the area are also boosting the market. For instance, the South Korean Ministry of Food and Drug Safety unveiled a 5-year strategy in September 2019 to enhance clinical trials there. These programmes are anticipated to encourage regional market expansion.

Competitor Insights

Some of the key players operating in the biomarker testing services market are Thermo Fisher Scientific Inc. (PPD, Inc.), Syneos Health, SGS SA, IQVIA, Charles River Laboratories, BioAgilytix Labs, Euro fins Scientific, Labcorp Drug Development, ICON Plc, and Intertek Group Plc.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, Labcorp and BML established a partnership in June 2022 to increase the number of biomarker testing facilities they have available in Japan. The collaboration will increase Labcorp’s global presence.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including services and end user from 2022 to 2033.

Report Scope:

Segmentation: Biomarker Testing Services Market Report 2022 – 2033

Services (Revenue, USD Million), 2022 – 2033

• Flow Cytometry
• Biomarker Assay Development
• Others

End user (Revenue, USD Million), 2022 – 2033

• Research Institutes
• Pharmaceutical & Biotechnology Companies
• CRO

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA