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Cancer biomarkers serve as an indicator of normal biological processes, pharmacologic response or pathogenic processes, to a therapeutic intervention. These biomarkers are used for prognosis, in order to predict the causes of a tumor. A doctor can also decide with the help of the biomarkers what dose might be most effective for the patients and which patient will respond positively to a given drug.
As the area of drug development is facing new challenges and the cost of drug development is increasing, biomarkers are widely used by the pharmaceutical companies to overcome these challenges. Several new companies are emerging, in order to provide advanced technology platforms in different areas such as transcriptomics, genomics, metabolomics, bioinformatics and pharmacogenomics and this is serving as an important driver for the biomarkers market.
Scientific advancement in these areas by different companies is likely to drive the biomarkers market further in the future. It will also enhance detection levels and improve sample throughputs in preclinical research, increase utility in diagnostics and product commercialization.
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The global biomarkers market was worth USD $13.16 billion in 2011. It is expected to reach USD 29.78 billon by 2018, growing at a CAGR of 14.60% from 2011 to 2018. Oncology has the largest market share at present, but cardiology is expected to grow at the fastest rate with a CAGR of 16.40% from 2011 to 2018. Among the different regions of the world North America is recorded as the leading biomarker market, due to rapid growth of IT industry in these regions and high adoption rate of throughput technologies, for the discovery of biomarkers.
Some of the major players in this market are Abbott Laboratories,Correlogic Systems, Inc, Agendia Bv,Biocurex Inc,Astellas Pharma Us Inc, Beckman Coulter, Inc, Becton, Dickinson And Company, Biomerieux S.A., Biomoda, Inc, Clarient, Inc, Ambrilia Biopharma,Diadexus, Inc, Affymetrix, Inc and Aureon Laboratories, Inc. The companies are implementing several business strategies such as new product launches, mergers, acquisitions, partnerships, joint ventures and so on. These business strategies are further expected to drive the global biomarker market in the coming future.