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Biomarker Clinical Phase Outsourcing Services Market Trends

Report ID: GMI7610
Published Date: Dec 2023
Report Format: PDF

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Biomarker Clinical Phase Outsourcing Services Market Trends

The increasing use of biomarkers in the various phases of clinical trials play a pivotal role in driving the market. For instance, according to National Library of Medicine (NLM), in 2020, the biomarker, C-reactive protein (CRP) has been widely used in the clinical trials for its potential use as a diagnostic index of disease severity in COVID-19 infections.
Also, biomarkers are increasingly used for the early detection of diseases in the clinical trials, enabling timely intervention and improved outcomes. Therefore, outsourcing services are involved in the validation of biomarkers for early detection and in the execution of clinical trials focused on the diagnostic potential of these biomarkers.

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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

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.

Laboratory Corporation of America Holdings, Parexel International Corporation, Charles River Laboratories International, Inc., and ICON plc are some of the major industry contenders.