The Global Biomarkers Market, by Product Type (Biomarker Test Kits, and Biomarker Analyzers), By Disease Indication (Cancer, Cardiovascular Disorder, Infectious Disease, Neurological Disorder, Immunological Disorder, and Others), by Application (Diagnosis, Drug Discovery and Development, and Others), By End User (Hospitals, Research Laboratories, Ambulatory Surgical Centers, and Diagnostic Laboratories) was valued US$ 29,518.2 million in 2017 and is projected to exhibit a CAGR of 13.6% over the forecast period (2017 – 2025) as highlighted in a new report published by Coherent Market Insights. New product launches by market players coupled with rising government immunization programs are major factors driving growth of the global biomarkers market over the forecast period.
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Biomarker tests are conducted for diagnosis and drug discovery & development purpose. It offers quick and accurate results, which has led to high demand for biomarkers. In order to cater to growing demand manufacturers are focusing on research & development for new product launches. For instance, in March 2017, the GeneNEWS Limited launched BreastSentry, a new risk stratification test for breast cancer. The BreastSentry incorporates a blood-based biomarker test to determine a woman’s five year and lifetime risk for developing breast cancer. Furthermore, in February 2018, Genomic Health, Inc. announced commercial launch of the Oncotype DX AR-V7 Nuclus Detect test in the U.S. The test consists of AR-V7 protein, a prognostic and predictive biomarker, used for detection of tumor cells and to provide precise treatments for cancer.
Millipore Sigma, in May 2017, launched a new single molecule counting platform, SMCxPROTM, during the American Association for Cancer Research Annual Meet. The SMCxPRO platform allows researchers to detect or monitor changes in biomarkers, even at extremely low concentration. Such advancement in the biomarker tests is expected to foster growth of the biomarkers market in the near future.
Furthermore, governments of various countries are focusing on initiatives, in order to develop novel techniques in precision medicines. For instance, the U.S. government launched Precision Medicine Initiative (PMI) in 2015, in order to increase awareness and focus on advancements in precision medicine field, which in turn, favors growth of the biomarkers market.
Browse 45 Market Data Tables and 37 Figures spread through 187 Pages and in-depth TOC on ” Biomarkers Market, by Product Type (Biomarker Test Kits, and Biomarker Analyzers), By Disease Indication (Cancer, Cardiovascular Disorder, Infectious Disease, Neurological Disorder, Immunological Disorder and Others), by Application (Diagnosis, Drug Discovery and Development, and Others ), By End User (Hospitals, Research Laboratories, Ambulatory Surgical Centers, and Diagnostic Laboratories) – Global Forecast to 2025″
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FDA Biomarker Qualification Program was established in 2009 to support the Center for Drug Evaluation and Research’s (CDER’s) work with external stakeholders to develop biomarkers that aid in drug development process. Biomarkers are widely used in drug development to improve the success rate and cost effectiveness. Hence, pharmaceutical companies are increasingly outsourcing complex bio analysis to cut down on costs as well as to benefit from specialized expertise from the outsourced companies. This in turn, is enhancing efficiency of the drug development process. For instance, in March 2018, the SenzaGen entered into a license agreement with Burlesson Research Technologies, Inc., (BRT), a contract research organization in the U.S., specializing in immunotoxicology.
Key takeaways of the Biomarkers Market:
The global biomarkers market is expected to expand at a CAGR of 13.6% during the forecast period (2017–2025), owing to increasing diagnostic application of biomarker and initiative for precision medicine drives the biomarkers market
Biomarker test kits segment holds a major market share, due to increasing awareness regarding disease prevention and disease diagnosis tests
Cancer segment holds largest revenue share among the disease indication type, due to increasing prevalence of cancer. According to the National Cancer Institute, 2016, an estimated 16.8 million new cases of cancer were diagnosed in the U.S., with around 595,690 deaths from the disease. The number of people suffering from cancer is expected to rise to 19 million by 2024.
Some of the major players involved in the global biomarkers market include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.
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