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The global biomarker research services market, by Service Type (Biomarker Research Services and CDx Research Services), By Disease Indication (Oncology, Cardiovascular Disorder, Infectious Disease, Neurological Disorder, Immunological Disorder, and Others), By End User (Hospitals, Specialty Clinics, and Diagnostic Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5,897.7 million in 2017 and is estimated to exhibit a CAGR of 13.5% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
The global biomarker research services market is expected to witness significant growth over the forecast period. The market growth is attributed to factors such as increasing number of collaborations and partnerships, mergers and acquisitions, and product launches by key players. Furthermore, factors such as increasing application of biomarkers, and increasing usage of companion diagnostics for personalized medicine are further expected to fuel growth of the global biomarker research services market over the forecast period. For instance, in May 2019, BioIVT joined the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium. The FNIH Biomarkers Consortium is a public-private biomedical research partnership. It brings together members of industry, academia, nonprofit and patient advocacy organizations, and government agencies and institutes to develop and support research to qualify promising biomarkers for disease diagnosis, predicting therapeutic response, and improving clinical practice.
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Furthermore, in 2017, BioIVT acquired Asterand Bioscience, a global provider of high quality, well-characterized human tissue, and research solutions, with a focus on the oncology market. Asterand Bioscience focuses on drug research by accelerating target identification and biomarker validation and improving drug candidate selection to increase the likelihood of clinical success.
Additionally, in 2017, REPROCELL Corporation formed an alliance with Fox Chase Medical Center (Philadelphia, U.S.) to accelerate biomarker and genetic discovery. Through this alliance, REPROCELL Corporation focused on augmenting its global repository of bio-specimens with samples from the Fox Chase Cancer Center and ensured that researchers had access to a wide array of clinical-grade bio-specimens. Moreover, in 2017, Bristol-Myers Squibb Company and Nordic Bioscience A/S entered into a collaboration agreement to develop biomarker technology to potentially aid the diagnosis and monitoring of fibrotic diseases including non-alcoholic steatohepatitis (NASH). Similarly, Nordic Bioscience S/A received CE marking for its PRO-C3 assay, in 2017. This is part of the company’s regulatory efforts to support biomarker use in clinical research. The marking signifies that the measurement of PRO-C3 is of high quality, and is regulated in a correct manner.
Browse 26 Market Data Tables and 32 Figures spread through 178 Pages and in-depth TOC on Global Biomarker Research Services Market by Service Type (Biomarker Research Services, and CDx Research Services), By Disease Indication (Oncology, Cardiovascular Disorder, Infectious Disease, Neurological Disorder, Immunological Disorder, and Others), By End User (Hospitals, Specialty Clinics, and Diagnostic Centers) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2026
To know the latest trends and insights prevalent in the Global Biomarker Research Services Market Press Release, click the link below: https://bit.ly/2PlyTQ5
Key Takeaways of the Global Biomarker Research Services Market:
- The global biomarker research services market is expected to exhibit a CAGR of 5% over the forecast period (2018–2026), attributed to rising prevalence of diseases and rising need for early diagnosis. For instance, according to the National Cancer Institute, 2016, around 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 with cancer is expected to increase up to 19 million by 2024.
- Key players are focusing on employing contract research organizations for research and development of biomarkers, which is expected to drive the market growth over the forecast period.
- Among service type, companion diagnostic research services segment is expected to witness significant growth over the forecast period
- Key players operating in the global biomarker research services market include Noble Life Sciences, Inc., Reprocell Corporation, Coriell Institute, BioIVT, ICON Plc., SRI International, Inc., Charles River Laboratories, Inc., Nordic Bioscience A/S, Proteome Sciences Plc., and Covance Inc. (Laboratory Corporation of America Holdings, Inc.)
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