The North America Biomarker Market is expected to reach USD 36,827.75 million by 2024, from USD 12,163.74 million in 2016 growing at a CAGR of 15.0% in the forecast period 2017 to 2024.
The factors such as increased usage of biomarkers in cancer treatment, growing efforts towards drug discovery, wide application of biomarkers in personalized medicine and diagnostics, initiatives taken towards biomarker research are furthermore boosting the growth of the global biomarkers market. On the other hand, high capital investment may hinder the growth of the market. The biomarker market in the North America region is leading in U.S.
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Market Segmentation: North America Biomarkers Market
- The North America biomarker market is segmented on the basis of product type, technology, application and indication. The North America biomarkers market is segmented based on product type into three notable segments; consumables, services and software. In 2017, consumables is expected to dominate the North America biomarkers market with 58.5% market share and is expected to reach USD 21,876.23 million by 2024, with the highest CAGR of 15.2% in the forecast period 2017 to 2024..
- On the basis of technology, North America biomarker market is segmented into three notable segments; safety biomarkers, efficacy biomarkers and validation biomarkers. In 2017, safety biomarkers is expected to dominate the North America biomarkers market with 47.8% market share and is expected to reach USD 17,887.26 million by 2024, with the highest CAGR of 15.2% in the forecast period 2017 to 2024.
- On the basis of application, North America biomarker market is segmented into diagnostics development, drug discovery and development, personalized medicine, disease-risk assessment, and others. In 2017, diagnostic development is expected to dominate the North America biomarkers market with 35.7% market share and is expected to reach USD 12,527.64 million by 2024, with a CAGR of 14.2% in the forecast period 2017 to 2024. However, personalized medicine is expected to grow at the highest CAGR of 16.3% in the forecast period, and is expected to reach USD 8,303.03 million in 2024 from USD 2,503.20 million in 2016.
- The North America biomarkers market is segmented based on indication into four notable segments; cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others diseases. In 2017, cancer is expected to dominate the North America biomarkers market with 37.6% market share and is expected to reach USD 13,742.59 million by 2024, with a CAGR of 14.8% in the forecast period 2017 to 2024. However, cardiovascular disorders is expected to grow at the highest CAGR of 15.9% in the forecast period, and is expected to reach USD 10,961.74 million in 2024 from USD 3,384.02 million in 2016.
Key Drivers: North America Biomarkers Market
North America biomarker market is growing with the increased usage of biomarkers in cancer treatment, growing efforts towards drug discovery, wide application of biomarkers in personalized medicine and diagnostics, initiatives taken towards biomarker research are furthermore boosting the growth of the global biomarkers market.
Key Points: North America Biomarkers Market
North America biomarker market is dominated by Bio-Rad Laboratories, Inc., followed by PerkinElmer, Inc. and Qiagen.
- Consumables segment is expected to dominate the North America biomarker market.
- The biomarker market in the North America region is leading in U.S., Canada and Mexico. U.S. accounts for the highest market share in this region.
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