Biomarkers Market Overview
Biomarkers are described as the biological molecules or genes assist in crucial clinical decisions and diagnosis of health conditions in patients. These are also known as molecular markers or signature molecules and used to analyze the pharmacologic responses, biological & pathological conditions. Biomarkers are found extensively in body fluids and tissues. Biomarkers are helpful in drug discovery and development processes and assessment of disease conditions.
Increasing research and development spending, rising healthcare expenditure, and growing demand for biomarkers in the diagnostic field are driving the growth of global biomarkers market. In addition, increasing number of low cost of clinical trials in emerging countries, growth initiatives in biomarkers research, increasing growth of information technology, growing demand for drug discovery are further propelling the growth of global biomarkers market. However, the requirement of high investment, improper reimbursement policies, poor regulatory bodies, the high cost of testing procedures, and difficulties in sample collection & storage are the major factors restraining the growth of global biomarkers market.
Biomarkers Market Forecast Report (2018-2023)
Biomarkers Market is expected to reach USD 67.33 billion by 2023 from USD 35.84 billion in 2018 growing at a CAGR of 13.44% during the forecast period (2018-2023)
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Biomarkers Market Segmentation
The Market is segmented based on the product, type, application, and disease indications. Based on product, the market is further sub-segmented as consumables, software, and services. Based on the type, the market is segmented as safety biomarkers, efficacy biomarkers, and validation biomarkers. Biomarkers application is further segmented as diagnostics developments, drug discovery & developments, personalized medicine, and disease risk assessment. Based on disease indications, the market is segmented as cancer, cardiovascular, neurological, and immunological disorders.
On the basis of the geographical region, the global biomarkers market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America held the major market share of 39.0% of the global biomarkers market in 2015, whereas Asia-Pacific is estimated to grow at the highest CAGR of 16.20% during the forecast period 2018-2023.
The major companies dominating this market for its products and services are
- Bio-Rad Laboratories (U.S.),
- Qiagen N.V. (Netherlands),
- Enzo Biochem (U.S.),
- PerkinElmer, Inc. (U.S.),
- Merck & Co, Inc. (U.S.),
- EKF Diagnostics Holdings plc. (U.S.),
- Meso Scale Diagnostics, LLC (U.S.),
- Singulex, Inc. (U.S.),
- BioSims Technologies (France),
- Cisbio Bioassays (France),
- Signosis, Inc. (U.S.).
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