San
Francisco, 10 October 2018, 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.
Full Research Report On Biomarkers Market Analysis:
www.grandviewresearch.com/industry-analysis/biomarkers-industry
www.grandviewresearch.com/industry-analysis/biomarkers-industry
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.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the
global biomarkers market on the basis of application, type, and region:
Global
Biomarkers Type Outlook (Revenue, USD Million, 2013 - 2024)
·
Safety
·
Efficacy
·
Validation
Global
Biomarkers Application Outlook (Revenue, USD Million, 2013 - 2024)
·
Diagnostic
·
Drug Development
·
Personalized Medicine
·
Others
Global
Biomarkers Disease Outlook (Revenue, USD Million, 2013 - 2024)
·
Oncology
·
Cardiovascular disease
·
Neurological disease
·
Immunological disease
·
Others
Biomarkers
Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-biomarkers-market
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
