Biomarker Discovery Outsourcing Service Market is expected to reach US$ 41.4 Billion by 2034, to register a CAGR of 12.2% | FMI Study

Biomarker Discovery Outsourcing Service Market

The Biomarker Discovery Outsourcing Service Market is estimated to be worth US$ 13.3 billion in 2024 and is projected to be valued at US$ 41.4 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 12.2%.

The increasing demand for personalized medical treatments and the growing need for accurate diagnostic tools owing to the increasing prevalence of various chronic disorders is expected to drive the biomarker discovery outsourcing service market during the forecast period.

The identification of various molecular fingerprints linked to various diseases is made possible by the discovery of biomarkers that facilitate targeted therapies and early detection.

Growing emphasis on early detection of diseases and prevention in conditions like cancer, and neurodegenerative disorders, and the demand for biomarker discovery outsourcing services is expected to rise. With increasing focus on personalized medicine, the demand for biomarkers tailored to individual patients’ treatment is expected to rise.

The increasing importance of biomarkers in drug development and clinical decision-making by various regulatory agencies driving the growth of outsourcing services.  Supportive regulatory framework and guidelines encouraging the integration of biomarkers in clinical trials and drug discovery programs.

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Biomarker Discovery Outsourcing Service Market Key Takeaways

• From 2019 to 2023, the biomarker discovery outsourcing service market expanded at a CAGR of 15.6%.
• Based on the type, the surrogate endpoints segment is expected to account for a market share of 12.0% in 2024.
• The demand for biomarker discovery outsourcing services in the United Kingdom is predicted to grow at a CAGR of 13.3% through 2034.
• In the United States, the biomarker discovery outsourcing service industry is estimated to register a CAGR of 12.4% from 2024 to 2034.
• China is projected to expand by a CAGR of 12.9% between 2024 and 2034.
• The biomarker discovery outsourcing service market in Japan is anticipated to record a CAGR of 13.9% during 2034.

“The growth in biopharmaceutical industry and increasing technological advances are driving the biomarker discovery outsourcing service market,” says an FMI analyst.

Biomarker Discovery Outsourcing Service Market Competitive Landscape

The market players are performing strategic partnerships and collaborations with academic institutes, research organizations, and pharmaceutical companies. By forming alliances, joint ventures, and subsidiary businesses in developing nations where there is rising demand for biomarker discovery outsourcing services, market players look for global expansion.

• In October 2023 – Sino Biological announced the acquisition of Signal Chem Biotech to expand its global footprint and improve its range of products.
• In August 2023 – Almac invested in a new Illumina NovaSeqTM Xplus device to increase its capabilities for Next Generation Sequencing.

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More Valuable Insights Available

Future Market Insights offers an unbiased global snail mucin skincare market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034

To understand opportunities in the snail mucin skincare industry, the industry is segmented based on type (Predictive Biomarkers, Prognostic Biomarkers, Safety Biomarkers, Surrogate Endpoints, and Other Types)  By Service (Genomic Biomarker Services, Proteomics Biomarker Services, Bioinformatics Biomarker Services, Other Biomarker Services) By Therapeutic Area (Oncology, Cardiology, Neurology, Autoimmune Diseases, Other Therapeutic Areas) By End-user (Pharmaceutical Companies, Biotechnology Companies, Other End-User) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).

Key Companies Profiled

• Bio-Rad Laboratories, Inc.
• Parexel International (MA) Corporation
• Svar Life Science
• Sino Biological Inc.
• ICON plc.
• Integrated DNA Technologies Inc.
• Almac Group Limited
• REPROCELL Inc.
• Frontage Labs
• Biomcare ApS
• Crown Bioscience

Biomarker Discovery Outsourcing Service Market-key Segments

By Type:

• Predictive Biomarkers
• Prognostic Biomarkers
• Safety Biomarkers
• Surrogate Endpoints
• Other Types

By Service:

• Genomic Biomarker Services
• Proteomics Biomarker Services
• Bioinformatics Biomarker Services
• Other Biomarker Services

By Therapeutic Area:

• Oncology
• Cardiology
• Neurology
• Autoimmune Diseases
• Other Therapeutic Areas

By End User:

• Pharmaceutical Companies
• Biotechnology Companies
• Other End Users

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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