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Global Biomarker Testing Services Market to reach USD 1295.41 million by the end of 2029.

Global Biomarker Testing Services Market Size study & Forecast, by Product (Biomarker Assay Development, Flow Cytometry and Others) by End User (Pharmaceutical and biotechnology companies, Research Institutes and CRO) and Regional Analysis, 2022-2029

Product Code: HLSMDE-37817727
Publish Date: 25-01-2023
Page: 200

Global Biomarker Testing Services Market is valued at approximately USD 759.6 million in 2021 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2022-2029. Biomarker testing services give a powerful approach to measuring a biological process and act as an indicator in normal as well as pathological conditions in response to pharmacological intervention. To research human diseases, doctors have used biomarker analysis in blood or other body fluids at the DNA or protein level for many years. Clinical illnesses such as cancer, immunological responses, genetic disorders, and cardiovascular diseases are among the conditions that doctors frequently use biomarker services to identify and treat. The Biomarker Testing Services market is expanding because of factors such as increasing demand for biomarker testing for cancer detection and increasing R&D activities.

New biomarkers are being discovered because of research and development. For instance, sTNFR2 was identified as a novel biomarker for the diagnosis of acute adult T-cell leukemia/lymphoma in 2020. Similar to this, in 2018 the FDA approved the Plasmodium 18S rRNA/rDNA biomarker for the treatment of malaria. Due to these discoveries and technical improvements, the market is predicted to grow profitably during the forecast period. The successful launch of this product may provide patients with an alternative option. Furthermore, the growing demand for biomarkers in clinical studies and the growing burden of chronic and infectious diseases supporting demand for biomarker testing is creating lucrative growth in the market. However, the high cost of biomarker testing services and high capital investments and lengthy timelines for biomarker development stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Biomarker Testing Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market share owing to factors such as the rising presence of key market players, increase in laboratory diagnostic testing, and prevalence of lifestyle diseases. In 2020, the CDC projects that there may be about 37.3 million diabetes in the country, including 28.7 million cases that have been diagnosed and 8.5 million that have not. A growing geriatric and target population, an increase in the number of collaborations for biosimilar development, the geographic expansion of key players, and active participation by government and nonprofit organisations in the market space are just a few of the factors driving Asia Pacific’s expected significant growth during the forecast period.

Major market player included in this report are:
Bio Agilytix Labs
Eurofins Scientific
Charles River Laboratories
Labcorp Drug Development
Thermo Fisher Scientific Inc. (PPD, Inc.)
Syneos Health
Intertek Group Plc
Recent Developments in the Market:
 In April2021, Amgen announced the launch of Biomarker AssistTM, a programme to make biomarker testing more accessible to patients with metastatic (stage IV) non-small cell lung cancer (NSCLC). A crucial initial step in placing patients on the appropriate course of treatment is biomarker testing at the time of diagnosis. Eligible patients may receive discounts on biomarker testing through Biomarker AssistTM.
 In February 2022, oncodna introduced the launch of the oncodeep kit. a complete workflow solution is provided by the kit, permitting laboratories with ngs capabilities to perform comprehensive biomarker testing, provide powerful data analysis, and support oncologists in the most effective and personalized treatments for their cancer patients. For the quick analysis and reporting of a patient’s tumor molecular profile, the offer will come in combination with oncodna’s data analysis and clinical interpretation tools.
Global Biomarker Testing Services Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Biomarker Assay Development
Flow Cytometry

By End User:
Pharmaceutical and biotechnology companies
Research Institutes

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Biomarker Testing Services Market, by Region, 2019-2029 (USD Million)
1.2.2. Biomarker Testing Services Market, by Product, 2019-2029 (USD Million)
1.2.3. Biomarker Testing Services Market, by End User, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Biomarker Testing Services Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Biomarker Testing Services Market Dynamics
3.1. Biomarker Testing Services Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing demand for biomarker testing for cancer detection Increasing R&D activities
3.1.2. Market Challenges High Cost of Biomarker Testing Services High capital investments and lengthy timelines for biomarker development
3.1.3. Market Opportunities Growing burden of chronic and infectious diseases supporting demand for biomarker testing
Chapter 4. Global Biomarker Testing Services Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Biomarker Testing Services Market, by Product
6.1. Market Snapshot
6.2. Global Biomarker Testing Services Market by Product, Performance – Potential Analysis
6.3. Global Biomarker Testing Services Market Estimates & Forecasts by Product 2019-2029 (USD Million)
6.4. Biomarker Testing Services Market, Sub Segment Analysis
6.4.1. Biomarker Assay Development
6.4.2. Flow Cytometry
6.4.3. Others
Chapter 7. Global Biomarker Testing Services Market, by End User
7.1. Market Snapshot
7.2. Global Biomarker Testing Services Market by End User, Performance – Potential Analysis
7.3. Global Biomarker Testing Services Market Estimates & Forecasts by End User 2019-2029 (USD Million)
7.4. Biomarker Testing Services Market, Sub Segment Analysis
7.4.1. Pharmaceutical and biotechnology companies
7.4.2. Research Institutes
7.4.3. CRO
Chapter 8. Global Biomarker Testing Services Market, Regional Analysis
8.1. Biomarker Testing Services Market, Regional Market Snapshot
8.2. North America Biomarker Testing Services Market
8.2.1. U.S. Biomarker Testing Services Market Product breakdown estimates & forecasts, 2019-2029 End User breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Biomarker Testing Services Market
8.3. Europe Biomarker Testing Services Market Snapshot
8.3.1. U.K. Biomarker Testing Services Market
8.3.2. Germany Biomarker Testing Services Market
8.3.3. France Biomarker Testing Services Market
8.3.4. Spain Biomarker Testing Services Market
8.3.5. Italy Biomarker Testing Services Market
8.3.6. Rest of Europe Biomarker Testing Services Market
8.4. Asia-Pacific Biomarker Testing Services Market Snapshot
8.4.1. China Biomarker Testing Services Market
8.4.2. India Biomarker Testing Services Market
8.4.3. Japan Biomarker Testing Services Market
8.4.4. Australia Biomarker Testing Services Market
8.4.5. South Korea Biomarker Testing Services Market
8.4.6. Rest of Asia Pacific Biomarker Testing Services Market
8.5. Latin America Biomarker Testing Services Market Snapshot
8.5.1. Brazil Biomarker Testing Services Market
8.5.2. Mexico Biomarker Testing Services Market
8.6. Rest of The World Biomarker Testing Services Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Bio Agilytix Labs Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Euro fins Scientific
9.2.3. SGS SA
9.2.4. Charles River Laboratories
9.2.5. Labcorp Drug Development
9.2.6. Thermo Fisher Scientific Inc. (PPD, Inc.)
9.2.7. ICON Plc
9.2.8. IQVIA
9.2.9. Syneos Health
9.2.10. Intertek Group Plc
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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