Market Trends of Biomarkers Industry
Epigenetic Biomarkers Segment is Expected to Have a Significant Market Share During the Forecast Period
Epigenetic biomarkers have various advantages, such as detecting and quantifying epigenetic changes in different samples of tissues and body fluids obtained through minimally invasive procedures. The potential epigenetic biomarkers have an important role in the identification, staging, and classification of disease and in guiding better clinical management. The major factors driving the segment growth include the rising prevalence of lifestyle diseases such as diabetes, obesity, and heart conditions, the increasing prevalence of cancers, and key initiatives adopted by the market players, such as the launch of epigenetic biomarker tests.
Additionally, the emerging role of epigenetics in cancer treatment is anticipated to boost the segment growth over the forecast period. For instance, according to the study published in Cancer Journal in January 2022, epigenetic biomarkers have emerged as an effective tool for diagnostics and prognosis in cancerous diseases such as pancreatic ductal adenocarcinoma (PDAC). Therefore, the effective diagnosis of cancers through epigenetic biomarkers increases the demand for the segment studied, driving the segment growth over the forecast period.
Furthermore, the increasing research activities on epigenetics to monitor human diseases and their connection with lifestyle and environmental exposures are anticipated to boost market growth further. For instance, according to the study published in Clinical Epigenetics in March 2022, several epigenetic biomarkers, such as those predicting response to lifestyle disease diagnoses such as diabetes and heart diseases, are now on the market, and epigenetic biomarkers also have the potential to be used as screening tools including tests for colorectal cancer. Such advantages in monitoring and screening diseases with the aid of epigenetic biomarkers are anticipated to boost segment growth.
The key initiatives adopted by the market players, such as partnerships, launches, and approvals, are anticipated to increase the adoption of epigenetic biomarkers due to increased availability in the market. For instance in November 2023, Bayer entered a partnership with Hurdle to launch the advancements in precision health and accelerate access to novel epigenetic and multi-omics at-home biomarker tests. Furthermore, in August 2023, GERO entered a strategic collaboration with FOXO Technologies Inc. to advance the discovery of epigenetic biomarkers for the understanding of human aging. Therefore, owing to the versatile advantages and activities of key market players, the segment is expected to grow significantly.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the market for biomarkers, and it is expected to continue its stronghold for a few more years. The number of United States Food and Drug Administration-approved drug labels containing information on molecular biomarkers has increased dramatically over the last decade. Moreover, the high burden of neurological conditions across the United States is expected to bolster the country’s market growth over the forecast period. For instance, as per February 2022 updated data from the Parkinson's Foundation around 90,000 people are diagnosed with Parkinson’s disease in the United States each year. This data shows a high burden of Parkinson’s disease cases in the country, and over the forecast period, the incidence of Parkinson’s disease will further increase, thus raising the demand for precision-based effective diagnostics thereby fostering the demand for biomarker-based tests/assays.
The regional government is also focusing on research and developing biomarkers for several rare neurodegenerative diseases. For instance, the National Institute of Neurological Disorders and Stroke’s article, updated in July 2021, stated that the NINDS Biomarker Program supports rigorous biomarker development and validation to improve the quality and efficiency of neurotherapeutic clinical research.
Moreover, according to the Canadian Cancer Society (CCS) 2023 report, cancer is responsible for one of the highest healthcare burdens in Canada, and the incidence of cancer is increasing in the country. It was estimated that in 2023, 124,200 males and 114,900 females are projected to be diagnosed with cancer. Also, as per the American Cancer Society's data for 2023, around 59,610 new cases of leukemia and 20,380 new cases of acute myeloid leukemia (AML) are expected to be diagnosed in the United States in 2023. As biomarkers have broad applications in diagnosing and treating cancer, the demand for them is expected to increase in the country.
Thus, for the reasons above, the biomarker market is expected to show lucrative growth in the North American region over the forecast period.
