Biomarker Clinical Phase Outsourcing Services Market To Reach $27.17 Billion By 2030

Biomarker Clinical Phase Outsourcing Services Market Growth & Trends

The global biomarker clinical phase outsourcing services market size is expected to reach USD 27.17 billion by 2030, registering a CAGR of 20.6%, according to a new report by Grand View Research, Inc. Increasing diagnostic applications of biomarkers, rapid advancements in OMICS technologies, a rise in research and development (R&D) funding from the government, and the shift toward precision medicine are a few of the factors driving the growth of the market.

The market is fragmented, with several key players having similar technological and processing capabilities. These companies offer various services related to biomarker testing, including assay development, sample analysis, data interpretation, and clinical trial support. This industry is characterized by intense competition driven by factors such as quality assurance, technological advancements, regulatory compliance, and the ability to offer high-value and diverse services.

Biomarkers are at the core of personalized medicine, enabling better patient care and more effective treatments. Hence, the shift towards precision medicine is another significant factor supporting demand for biomarker testing services, thereby augmenting market growth. For instance, in January 2022, Pfizer Inc. and Beam Therapeutics Inc. announced an exclusive four-year research collaboration agreement to develop precision medicines for rare genetic diseases.

The COVID-19 pandemic moderately impacted the market. The initial phase of the COVID-19 pandemic has significantly affected clinical trials due to travel restrictions, including trials involving biomarker testing services. However, the market recovered from the losses due to the rapid development of biomarkers for COVID-19 diagnosis. Biomarker-based tests, such as PCR assays targeting viral RNA and antigen tests detecting viral proteins, have been crucial for identifying and tracking the virus.

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Biomarker Clinical Phase Outsourcing Services Market Report Highlights

• Based on biomarker type, the surrogate endpoints segment accounted for the largest share of 56.0% in 2022. The segment’s growth is driven by the growing demand for precision medicines and the rise in the number of clinical trials involving the use of biomarker analysis

• Based on therapeutic area, the oncology segment accounted for the largest share of 34.6% in 2022. High segment shares are majorly due to the increasing demand for cancer biomarkers for early detection and diagnosis of the condition

• Based on end-use, the biotechnology companies are anticipated to witness the highest CAGR of 20.8% across the analysis timeframe due to the increasing number of biopharmaceutical companies investing in developing novel biomarker testing services

• Asia Pacific is anticipated to witness the highest CAGR of 21.4% during the forecast time frame. High growth is primarily due to increasing number of Western pharmaceutical companies outsourcing their manufacturing activities to developing economies such as China and India

Biomarker Clinical Phase Outsourcing Services Market Segmentation

Grand View Research has segmented the global biomarker clinical phase outsourcing services market based on biomarker type, therapeutic area, end-use, and region:

Biomarker Clinical Phase Outsourcing Services Biomarker Type Outlook (Revenue, USD Million, 2018 - 2030)

• Predictive Biomarkers

• Prognostic Biomarkers

• Safety Biomarkers

• Surrogate Endpoints

Biomarker Clinical Phase Outsourcing Services Therapeutic Area Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology

• Neurology

• Cardiology

• Autoimmune Diseases

• Others

Biomarker Clinical Phase Outsourcing Services End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical Companies

• Biotechnology Companies

• Others

Biomarker Clinical Phase Outsourcing Services Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Biomarker Clinical Phase Outsourcing Services Market

• Laboratory Corporation of America Holdings

• Parexel International Corporation

• ICON plc

• Charles River Laboratories

• Proteome Sciences

• Fujirebio

• WuXi AppTec

• NorthEast BioAnalytical Laboratories LLC.

• Celerion

• GenScript ProBio