The global biomarkers market is expected to reach USD 78.9 billion by 2024, from USD 31.4 billion in 2016 growing at a CAGR of 12.2% during the forecast period of 2017 to 2024.
Biomarkers are substances or activities that serve as markers of a particular biological activity. Biomarkers are broadly utilized as research and diagnostic applications. Likewise, they are also used as improvement of new medication treatments through the revelation of new target drugs and assessing the risks in the diseases. Biomarkers help therapeutic experts to take compelling clinical choices and help in diagnosing the soundness of patients. The U.S. Food and Drug Administration (FDA) has endorsed the use of biomarkers as surrogate end-points in the treatment improvement process.
Major Market Drivers and Restraints:
- Increase in R&D financing and healthcare expenditure
- Developing number of CROs
- Rising utility of biomarkers for treatment purposes
- Ease in leading clinical trials in developing countries
- High capital ventures and cost-to-profit proportions
- High cost of testing, sample collection, and storage
- Administrative and reimbursement challenges
On the basis of types, Global Biomarkers Market is segmented into consumables, services, and softwares. The consumables item is expected to represent the largest share in 2016 with the attribution of higher frequency of purchase of consumables as compared to other product segments and expanding utilization of unit based items for the testing of biomarkers.
On the basis of technology, global biomarkers market is segmented into efficacy, safety and validation biomakers. Safety biomarkers segment represented the largest share of the global biomarkers market in 2016. It is basically used in trial phases 1 and 2, which enables as a proof of toxicity in candidate drug molecules, helps in the expansion in research and development activities and validate new candidate therapeutic products
On the basis of application, global biomarkers market is segmented into diagnostics, drug discovery, personalized medicine and disease risk assessment. Diagnostics segment accounted the highest market share in 2016. Biomarkers assume a critical part in the treatment of different diseases. Accordingly diagnostics improvement has major biomarker application compared with different applications because of expanding healthcare expenditure, which is enhancing access to new and top notch diagnostics, and supporting development of the diagnostics application segment.
On the basis of indication, global biomarkers market is segmented into cancer, cardiovascular disorders, and immunological disorders. In 2016, the cancer disease sign portion represented the biggest share of the worldwide biomarkers market. Cancer biomarkers are widely utilized as a part of diagnostics, asses cancer movement, guess, and to devise treatment designs. They are likewise used as a part of companion diagnostics items. Expanding rate of malignancy is driving the development of the biomarkers market.
On the basis of geography, global biomarkers market report covers data points for 28 countries across multiple geographies namely North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
The Global Biomarkers Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares biomarkers of market for global, Europe, North America, Asia Pacific and South America biomarkers market.
Major Market Competitors:
Some of the major players operating in the global biomarkers market are
- PerkinElmer Inc.
- Merck & Co.
- Bio-Rad Laboratories Inc.
- Enzo Biochem Inc.
- EKF Diagnostics Holdings Plc
- Abbott, Siemens AG
- MESO SCALE DIAGOSTICS, LLC
- Agilent Technologies
- Singulex, Inc.
- Cisbio Bioassays
- Thermo Fisher Scientific Inc.
- Biosims Technologies
- Epigenomics AG
- Signosis, Inc.
- GE Healthcare
- Among other players
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request anan drop down your enquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.