A new report published by Allied Market Research on “Biomarkers Market” says that the market is likely to accrue a sum of $30.6 billion by 2020, growing at a CAGR of 16% during the forecast period, 2013 – 2020.
Diagnostic biomarker technology is likely to bring a major change in the process of drug development and medical practice as technologies are metamorphosing from traditional pathophysiology/epidemiology approach to biomarker studies such as genomics and proteomic add the analysts. Despite being a great tool for molecular diagnostics, the technology is facing challenges regarding ethical and regulatory issues as it is related to a genomic pattern of an individual which needs to be highly confidential.
The report discusses the biomarkers market based on diagnostic biomarker types, applications and service. The applications segment is again bifurcated into risk assessment, molecular diagnostics, disease diagnosis, drug discovery and development, drug formulation, forensic applications and others. In the report, primary focus is given to biomarkers for diagnostic applications and excludes clinical trials and research.
This report segments the global diagnostic biomarker based on diagnostic biomarker types, applications, services, and geography. The applications are further divided into risk assessment, molecular diagnostics, disease diagnosis, drug discovery and development, drug formulation, forensic applications, and others. The report particularly focuses on biomarkers for diagnostic applications. Disease diagnostic is an important application segment that is likely to accrue a sum of $6.1 billion by 2020. Nevertheless, application of diagnostic biomarkers in forensics and molecular diagnostics is growing at a rapid pace, with latter likely to witness a CAGR of 17.6% during the period, 2013 – 2020. Regarding services, the report discusses sample preparation, assay development, biomarker validation and testing, and other services.
Geographically, the report discusses the market in the regions such as North America, Europe, Asia-Pacific, and rest of the World. Asia Pacific is likely to grow at the fastest CAGR of 20.3% during the forecast period, 2013 – 2020.
The major players providing solutions in the biomarkers market are from pharmaceutical companies, government & private research institutes, academic institutes, and medical device manufacturing companies. The key players discussed in the report are Roche Diagnostic Limited (Switzerland), Siemens Healthcare (Germany), Abbott Laboratories Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), Aushon BioSystem Inc. (U.S.), Epistem Ltd. (U.K.), G.E. Healthcare Inc. (U.K)
KEY BENEFITS OF THE REPORT
- The report offers an assessment and ranking of the factors that favor the biomarkers market growth and those factors which act as a hindrance for the growth of the market
- Forecast period for estimating market size is from 2013 to 2020. Two historic years include 2011 and 2012
- The report identifies top investment pockets and offers an analysis of top winning strategies for diagnostic biomarker industry.
- The report analyses the various strategies adopted by some of the key companies in the industry.
- The report tracks and analyses key innovations and patents for biomarkers in the last five years
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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