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
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
France
·
Spain
·
Italy
·
Asia Pacific
·
Japan
·
China
·
India
·
Latin America
·
Brazil
·
Mexico
·
MEA
·
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.
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