According to the report “Global Biomarkers Market,” published by Market Data Forecast, the global market is projected to reach USD 46.12 billion by 2021, at a CAGR of 13.44% from 2016 to 2021.
Biomarkers are described as the biological molecules or genes assist in crucial clinical decisions and diagnosis of health conditions in patients. These are also known as molecular markers or signature molecules and used to analyze the pharmacologic responses, biological & pathological conditions. Biomarkers are found extensively in body fluids and tissues. Biomarkers are helpful in drug discovery & development processes and assessment of disease conditions.
Biomarkers are chemical, physical or biological parameters which can be used to specify disease states. Oncology biomarkers offers high speed, non invasive cancer diagnosis and deem to improve cancer detection and screening. In the global biomarkers market, Cancer Biomarker is consolidated in nature at the top. In order to sustain their market shares, top players are constantly focusing on new product developments and improving their existing products to augment their product portfolios.
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Global Biomarkers Market: Drivers & Restraints
Increasing research & development spending, rising healthcare expenditure, and growing demand for biomarkers in diagnostic field are driving the growth of global biomarkers market. In addition, increasing number of low cost of clinical trials in emerging countries, growing initiatives in biomarkers research, increasing growth of information technology, growing demand for drug discovery are further propelling the growth of global biomarkers market. However, requirement of high investment, improper reimbursement policies, poor regulatory bodies, high cost of testing procedures, and difficulties in sample collection & storage are the major factors restraining the growth of global biomarkers market.
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Global Biomarkers Market: Segmentation
By Product Type
- Services Growth Hormone Therapy
- Safety Biomarkers
- Efficacy Biomarkers
- Validation Biomarkers
- Diagnostics Development
- Drug Discovery and Development
- Personalised Medicine
- Disease Risk Assessment
- Other Applications
By Disease Indications
- Neurological Disorders
- Immunological Disorders
- Other Diseases
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Global Biomarkers Market: Overview
The global biomarkers market has witnessed increased demand in recent years due to the rapidly growing population worldwide, robust growth of the IT industry, and increasing efforts toward drug discovery. The entry of new players is expected to further boost the growth of the market. The growing usage of biomarkers in medical areas such as cancer treatment and research will propel the future growth of the global biomarkers market.
The global market for biomarkers increased from $4.8 billion in 2006 to an estimated $5.6 billion by the end of 2007. It should reach $12.8 billion by 2012, a compound annual growth rate (CAGR) of 18%. Global revenues for biomarker discovery technologies tailored to drug discovery, preclinical studies of drug development and diagnostics research applications accounted for 47.9% of the total market in 2007. Their value is projected to grow at a CAGR of 16.9% and is expected to reach a little less than $6 billion in 2012. The use of biomarkers in oncology therapeutics is likely to be one of the foremost priorities in clinical trials in the next 3 to 7 years followed by cardiovascular applications.
Global Biomarkers Market: Region-wise Outlook
On the basis of geographical region the global biomarkers market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America held the major market share of 39.0% of the global biomarkers market in 2015, whereas Asia-Pacific is estimated to grow at the highest CAGR of 16.20% during the forecast period 2015-2020.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Biomarkers Market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Biomarkers space globally?
- What are the key, high growth markets that Biomarkers manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Biomarkers currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Biomarkers?
- What are the challenges and barriers that have hindered widespread adoption of Biomarkers?
- What are the key sustainability strategies adopted by market players ?
Global Biomarkers Market: Key Players
The key players in global biomarkers market include, Bio-Rad Laboratories (U.S.), Qiagen N.V. (Netherlands), Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.), Singulex, Inc. (U.S.), BioSims Technologies (France), Cisbio Bioassays (France), and Signosis, Inc. (U.S.).
Reasons to buy Global Biomarkers Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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