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Biomarker Clinical Phase Outsourcing Services Market Size, Share, Trends Analysis, And Forecast To 2033
Biomarker Clinical Phase Outsourcing Services Market Size
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According to The Business Research Company's, The biomarker clinical phase outsourcing services market size has grown exponentially in recent years. It will grow from $7.91 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to rising government initiatives and funding, increasing diagnostic applications of biomarkers, a rise in R&D funding from the government, rapid advancements in technologies such as genomics, proteomics, and imaging, and the increasing demand for cancer biomarkers.
The biomarker clinical phase outsourcing services market size is expected to see exponential growth in the next few years. It will grow to $22.09 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The growth in the forecast period can be attributed to the increasing use of biomarkers in the various phases of clinical trials. The use of biomarkers in clinical trials continues to expand, as does the growing demand for precision medicines, the rising adoption of companion diagnostics, and the and the increasing demand for personalized medicine. Major trends in the forecast period include advanced parameters in the trials, diagnostic-focused clinical phases, rapid advancements in biomarker technology, rising government initiatives and funding, and advancements in technology.
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Market Drivers and Trends:
Major companies in the biomarker clinical phase outsourcing services are focusing on advancements with high-throughput flow cytometry and ELISpot testing to gain a competitive edge in the market. High-throughput flow cytometry and ELISpot testing are utilized for biomarker analysis, offering rapid and precise assessment of immune responses and cellular markers.
Major companies in the biomarker clinical phase outsourcing services are focusing on advancements with high-throughput flow cytometry and ELISpot testing to gain a competitive edge in the market. High-throughput flow cytometry and ELISpot testing are utilized for biomarker analysis, offering rapid and precise assessment of immune responses and cellular markers. For instance, in November 2022, Celerion Inc., a US-based biotechnology outsourcing services company, expanded its service offering to include GLP/GCP-compliant molecular and cell biology testing. This strategic move aims to enhance Celerion's capabilities in supporting clients throughout the drug development process, from early clinical research to regulatory submissions. Celerion can provide a more comprehensive range of services by adding GLP/GCP-compliant molecular and cell biology tests, such as pharmacokinetic (PK), pharmacodynamic (PD), and biomarker analysis. This expansion enables Celerion to assist clients in producing high-quality data that meets regulatory requirements, thereby speeding up the development of new medicines.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Labcorp Drug Development Inc., ICON plc, Eurofins Scientific SE, WuXi AppTec Co. Ltd., Syneos Health Inc., Intertek Group plc, Charles River Laboratories International Inc., Parexel International Corporation, QIAGEN N.V., Medpace Inc., Bioclinica Inc., Evotec SE, GenScript Biotech Corporation, Precision for Medicine Inc., BioAgilytix Labs LLC, Celerion Inc., Frontage Laboratories Inc., SomaLogic Inc., Selvita S.A., BioIVT LLC, Discovery Life Sciences LLC, Metabolon Inc., Caprion Proteomics Inc., Canopy Biosciences LLC
Biomarker Clinical Phase Outsourcing Services Market 2024 Key Insights:
• The biomarker clinical phase outsourcing services market size is expected to see exponential growth in the next few years. It will grow to $22.09 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%.
• Expanding Clinical Trial Landscape Fuels Growth Of Biomarker Clinical Phase Outsourcing Services Market
• Advancements Drive Competition In Biomarker Clinical Phase Outsourcing Services
• North America was the largest region in the biomarker clinical phase outsourcing services market in 2023
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