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Biomarker Discovery Outsourcing Services Market Outlook, Market Share, Size, Growth Status And Forecast To 2033
Biomarker Discovery Outsourcing Services Market Outlook
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According to The Business Research Company's, The biomarker discovery outsourcing services market size has grown rapidly in recent years. It will grow from $12.53 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing disease burden, pharmaceutical R&D demand, the regulatory environment, cost-effective solutions, research collaboration, and globalization.
The biomarker discovery outsourcing services market size is expected to see rapid growth in the next few years. It will grow to $26.85 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to personalized medicine expansion, AI and machine learning integration, precision oncology growth, biomarker validation services, regulatory support, targeted therapy demand, and patient-centric healthcare. Major trends in the forecast period include increased adoption of precision medicine, technological advancements, rising demand for companion diagnostics, expansion of drug development pipelines, emerging applications in non-traditional disease areas, integration of artificial intelligence (AI) and machine learning (ML), regulatory support and standardization, global market expansion, partnerships and collaborations, and a and a focus on cost-effectiveness and time efficiency.
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Market Drivers and Trends:
The increasing demand for healthcare infrastructure is expected to propel the growth of bed head panels market going forward. Healthcare infrastructure refers to the physical and organizational components, including facilities, equipment, personnel, and systems, that collectively support the delivery of medical services and healthcare within a community or region. Increasing demand for healthcare infrastructure can be attributed to factors such as population growth, aging demographics, advancements in medical technology, rising prevalence of chronic diseases, and the expansion of healthcare coverage and services. Bed head panels provide a centralized point for essential medical services and utilities such as oxygen outlets, electrical sockets, nurse call systems, lighting, and data ports, improving efficiency and enhancing patient care in hospital settings. For instance, in March 2022, according to the Department of Health and Aged Care, an Australia-based government agency in charge of funding, promoting, regulating, and performing health research, the newly elected Coalition is going to invest an all-time high of $132 billion in healthcare infrastructure in 2022-23, increasing to $140 billion in 2025-26 for a total commitment of $537 billion over the following four years. Therefore, the increasing demand for healthcare infrastructure is driving the growth of the bed head panels market.
Major companies operating in the biomarker discovery outsourcing services market are focusing on developing multiplexed biomarker assays, such as the immunoproteomic discovery platform, to improve patient outcomes and advance the field of discovering biomarkers. An immunoproteomic discovery platform is a specialized system that combines immunology and proteomics to identify and analyze proteins related to the immune response. For instance, in October 2023, Sengenics Corporation LLC, a Singapore-based precision medicine company, launched the immunoproteomic discovery platform, a comprehensive protein microarray platform for analyzing autoantibodies associated with disease diagnosis and therapeutic intervention. The i-Ome Discovery platform was developed to advance immune biomarker discovery and development and support academic and clinical biopharmaceutical research teams seeking to better understand the dynamic interactions and relationships between proteins, the immune system, and disease.
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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, Crown Bioscience Inc.
Biomarker Discovery Outsourcing Services Market 2024 Key Insights:
• The biomarker discovery outsourcing services market size is expected to see rapid growth in the next few years. It will grow to $26.85 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Personalized Medicine Driving Growth In Biomarker Discovery Outsourcing
• Advanced Technologies Driving Innovation In The Biomarker Discovery Outsourcing Services Market
• North America was the largest region in the biomarker discovery outsourcing services market in 2023
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