Impact Analysis of Covid-19
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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) is estimated to be valued at US$ 29,518.2 million in 2017 and is expected to exhibit a CAGR of 13.6% over the forecast period (2017-2025).
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The increasing product launches by market players, and rising number of government immunization programs are the major factors that are expected to drive growth of the global biomarkers market over the forecast period. Moreover, biomarker tests are mainly performed for diagnosis and drug discovery & development. It offers quick and accurate results, which has driven demand for biomarkers. Thus, it has lead manufacturers to focus on product launches, in order to cater to growing demand. For instance, GeneNEWS Limited launched BreastSentry, a new risk stratification test for breast cancer, in March 2017. BreastSentry integrates a blood-based biomarker test to determine a woman’s five year and lifetime risk for developing breast cancer. Similarly, in February 2018, Genomic Health, Inc. commercially launched Oncotype DX AR-V7 Nuclus Detect test in the U.S. The test consists of AR-V7 protein, a prognostic and predictive biomarker that is utilized for detection of tumor cells and to provide precise treatments for cancer. Furthermore, Millipore Sigma, launched a new single molecule counting platform, SMCxPROTM at the American Association for Cancer Research Annual Meet, in May 2017. The SMCxPRO platform allows researchers to identify or monitor changes in biomarkers, even at extremely low concentration. Such technological advancements in the biomarker tests is expected to drive growth of the biomarkers market over the forecast period. Additionally, governments of various economies 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 is expected to fuel 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 aids in drug development process. Biomarkers are majorly utilized in drug development process to improve the success rate and cost effectiveness. Thus, 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 expected to enhance efficiency of the drug development process. For instance, in March 2018, SenzaGen entered into a license agreement with Burleson Research Technologies, Inc., (BRT), a contract research organization in the U.S. that specializes in immunotoxicology.
Key takeaways of the Biomarkers Market:
- The global biomarkers market is expected to exhibit a CAGR of 13.6% over the forecast period (2017-2025), attributed to increasing diagnostic applications of biomarker and initiative for precision medicine, which are expected to drive the biomarkers market
- Among product type, biomarker test kits segment is expected to holds a major market share over the forecast period, owing to increasing awareness about disease prevention and disease diagnosis tests among populace and healthcare providers
- Among disease indication, cancer segment is expected to hold largest market share, in terms of revenue, attributed to increasing prevalence of cancer. 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 suffering from cancer is expected to reach 19 million by 2024.
- Key players operating 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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