Biomarker Clinical Phase Outsourcing Services Market
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Biomarker Clinical Phase Outsourcing Services Market size was around USD 7.9 billion in 2023 is expected to grow at over 19.2% CAGR between 2024 and 2032. High market growth can be attributed to rapid advancements in biomarker technology, increasing use of biomarkers, rising government initiatives and funding, growing emphasis on precision medicine, and globalization of clinical trials. Advancements in biomarker technologies often lead to the development of more complex and specialized assays, that can be effectively used in clinical trials.
For instance, in 2020 FDA approved the use of programmed cell death ligand-1 (PD-L1) as a biomarker for cancer treatment in a tissue-agnostic manner based on the presence of specific genetic features. Therefore, as new biomarker platforms and technologies emerge, outsourcing partners can offer expertise in adopting and optimizing these platforms for clinical trials, thereby fostering the market expansion.
Biomarkers in clinical phase outsourcing services refer to the use of biological indicators to support various stages of clinical trials, including study design, patient stratification, treatment response assessment, and safety monitoring. These biomarkers are utilized to provide insights into the underlying biological processes, disease mechanisms, and treatment effects, ultimately aiding in the development of novel therapeutics and personalized medicine approaches.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Biomarker Clinical Phase Outsourcing Services Market size in 2023: | USD 7.9 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 19.2 |
| 2023 Value Projection: | USD 38.9 Billion |
| Historical Data for: | 2018 to 2023 |
| No of Pages: | 130 |
| Tables, Charts & Figures: | 209 |
| Segments Covered: | Biomarker Type, Therapeutic Area, End-user, & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The global COVID-19 pandemic had a positive impact on the biomarker clinical phase outsourcing services market. Biomarkers have been widely utilised in various stages of the clinical trials during the ongoing research on virus. The pandemic underscored the importance of identifying biomarkers for COVID-19 and other diseases, leading to increased interest in biomarker discovery and outsourcing services. This increased utilization of biomarkers in various stages of clinical trials. boosted the global market during the pandemic.
As the use of biomarkers in clinical trials continue to expand, the demand for outsourcing services that can provide specialized expertise, advanced parameters in the trials, and efficient execution of diagnostic-focused clinical phases is likely to grow. This trend aligns with the broader shift toward precision medicine and personalized healthcare approaches, thereby expanding the growth of the market.
Based on biomarker type, the market is segmented into surrogate endpoints, predictive biomarker, prognostic biomarker, safety biomarker, and other biomarker types. The surrogate endpoints segment held the largest business share at 54.6% in 2023. The growing demand for precision medicines and the rise in the number of clinical trials involving the use of biomarker analysis are driving the growth of the surrogate endpoints segment.
Based on therapeutic area, the biomarker clinical phase outsourcing services market is classified into oncology, neurology, cardiology, autoimmune disease, other therapeutic areas. The oncology segment is expected to reach the largest market revenue of USD 12.7 billion by 2032.
Based on end-user, the biomarker clinical phase outsourcing services market is segmented into pharmaceutical companies, biotechnology companies, and other end-users. The biotechnology companies’ segment is expected to exhibit 19.4% CAGR between 2024 – 2032 period.
In 2023, North America held a significant share of 42.1% in the biomarker clinical phase outsourcing services market.
The market is characterized by diverse players competing in the healthcare industry. Laboratory Corporation of America Holdings, Parexel International Corporation, and Charles River Laboratories International, Inc., account for significant market share. These prominent players thrive through a combination of strategic initiatives, investing in research and development, meeting the specific needs of patients, geographical expansion, strategic approaches, product diversification, and regulatory compliance.
Foremost players operating in the biomarker clinical phase outsourcing services industry is as mentioned below:
By Biomarker Type, 2018 – 2032 (USD Million)
By Therapeutic Area, 2018 – 2032 (USD Million)
By End-user, 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries:
Laboratory Corporation of America Holdings, Parexel International Corporation, Charles River Laboratories International, Inc., and ICON plc are some of the major industry contenders.
Biomarker clinical phase outsourcing services industry size was around USD 7.9 billion in 2023 and is expected to reach USD 38.9 billion by end of 2032 driven by rapid advancements in biomarker technology, and the rising government initiatives and funding.
The surrogate endpoints segment held the 54.6% of the market share in 2023 and is expected to grow at a lucrative pace by 2032, driven by the growing demand for precision medicines and the rise in the number of clinical trials.
North America held 42.1% of the biomarker clinical phase outsourcing services industry share in 2023 and is anticipated to expand at a significant pace from 2024-2032 driven by advanced healthcare infrastructure, including state-of-the-art research facilities and laboratories.