The
global biomarkers market is expected to reach over USD 78.2 billion by 2024,
according to a new report by Grand View Research, Inc. The growing demand for
companion diagnostics and the rising adoption of personalized medicine are the
key factors propelling the growth of the biomarkers market. The increasing need
of disease-specific biomarkers for the development of diagnostics, the
increasing R&D funding, and the rising prevalence of oncology and
cardiovascular-based diseases are anticipated to create significant
opportunities for the market growth during the forecast period.
The
spiraling population and the upward trend in the adoption of sedentary
lifestyles are expected to provide the industry with a huge target population
base. Government grants and research funding for the discovery and development
of novel biomarkers are the other factors accentuating the market growth. The
introduction of the biomarker-based diagnostic kits for screening high-risk
population coupled with the growing prevalence of genetic disorders is also
anticipated to increase the client base for this market.
In depth research report on Biomarkers Market
Further key findings from the study suggest:
·
The safety biomarkers segment
held the largest share of over 40% in 2015 owing to the increasing routine
healthcare checkups and the growing base of the geriatric population that is at
a high risk of developing various diseases
·
The validation biomarkers
segment is determined as one of the fastest growing segments. The increasing
R&D initiatives for the development of more specific biomarkers, and hence
the subsequent development of companion diagnostics with enhanced accuracy and
sensitivity for the effective detection of diseases are key factors
contributing towards the aforementioned growth.
·
The drug discovery segment
dominated the application segment in 2015. Biomarkers are extensively used by
pharmaceutical companies to accelerate the development of new drug findings and
to predict the failure of the upcoming drugs.
·
The diagnostic segment is
estimated to witness a lucrative growth over the forecast period owing to the
growing awareness about routine healthcare checkups and the rising prevalence
of various diseases
·
In 2015, the oncology segment
dominated with a revenue generated over USD 9.2 billion owing to the
introduction of companion diagnostic tests for oncology drugs and the growing
burden of cancer across the globe
·
The cardiovascular segment is
expected to be the fastest growing segment with a CAGR of over 14.0%. The
growing adoption of sedentary lifestyles and the rise in the obese population
base leading to cardiovascular diseases are estimated to provide this market
with a potential growth platform.
·
North America held the largest
regional share of around 39% in 2015. The well-established R&D
infrastructure and the high level of disposable income are the factors
contributing towards the large market share.
·
Asia Pacific is anticipated to
be the fastest growing biomarker market owing to the factors, such as the
developing economic conditions, a large base of the target population, and a
favorable regulatory scenario for clinical trials.
·
Major players include Roche
Diagnostics Ltd., Abbott Laboratories, Inc., Agilent Technologies, Inc.,
Epigenomics AG, GE Healthcare, Johnson and Johnson, Thermo Fisher Scientific,
Inc., Bio-Rad Laboratories, Inc., Siemens Healthcare GmbH, Qiagen, Inc.,
Merck& Co., Inc., and others
·
Market participants are
ensuring stability by fundingthe growing R&D initiatives and focusing on
the developing countries through the expansion and introduction of novel
biomarker diagnostics.In 2015, Pfizer, Inc. developed a lung cancer therapy
drug, Crizotinib used in non-small cell lung cancer therapy associated with ALK
fusions.
Grand
View Research has segmented the global biomarkers market on the basis of
application, type, and region:
Global Biomarkers Type Outlook (Revenue, USD
Million, 2014 - 2024)
·
Safety
·
Efficacy
·
Validation
Global Biomarkers Application Outlook (Revenue, USD
Million, 2014 - 2024)
·
Diagnostic
·
Drug Development
·
Personalized Medicine
·
Others
Global Biomarkers Disease Outlook (Revenue, USD
Million, 2014 - 2024)
·
Oncology
·
Cardiovascular disease
·
Neurological disease
·
Immunological disease
·
Others
Biomarkers Regional Outlook (Revenue, USD Million,
2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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