Biomarkers Market: By (Biomarker of Disease, Biomarker of Exposure )By Application (Disease Diagnosis, Disease Progression, Drug Discovery and Development, Development of Molecular Diagnostics, Forensic, Others )By End User (Hospitals, Research Organizations, Diagnostic Centers, Others) and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global biomarkers market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Biomarkers Market
Biomarkers are cellular or molecular diagnostic tools, measured in in biological samples, for instance, urine, stool and blood. It is utilized as an indicator to check and assess biological, pharmacological and pathogenic procedures. Biomarkers range from proteins, lipids, carbohydrates, RNA, DNA, hormones, platelets etc. Currently wide range of biomarkers are available for the different systems such as cardiovascular, metabolic system and immune system. Biomarkers not only help in diagnosis of the disease but also helps in tracking progression, regression and outcome after the intervention. Furthermore, biomarkers are also used in the drug development.
Market Dynamics: Biomarkers Market
biomarkers market primarily driven by rise in demand and need for the accurate diagnosis of disease and progression of the intervention due to the increase in diseases like cancer and cardiovascular diseases. In addition, initiatives taken by the government and market players in biomarker research coupled with increase in the number of clinical research organizations are expected to boost the market over the forecast period. Furthermore, expansion of the applications of biomarkers in drug development and diagnostic segments projected to propel the growth of market in near future. On the other hand, high cost of discovery and development, poor reimbursement policies and technical issues in sample collection may hamper the market growth over the forecast period.
Market Scope: Biomarkers Market
Biomarkers market is segmented based on the type, application, end user and geography
Based on type, the market is segmented into the following:
- Biomarker of Disease
- Biomarker of Exposure
Based on application, the market is segmented into the following:
- Disease Diagnosis
- Disease Progression
- Drug Discovery and Development
- Development of Molecular Diagnostics
Based on end user, the Biomarkers market is segmented into the following:
- Research Organizations
- Diagnostic Centers
Based on region, Biomarkers Market is segmented into
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
Regional Analysis: Biomarkers Market
Geographically, biomarkers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America projected to have dominated market for biomarkers owing to the increase in ageing population and diagnosis of age related diseases. Asia Pacific projected to have the lucrative opportunity of growth owing to the increase in the cardiovascular diseases and cancer cases. For instance, According to data of Ministry of Health, China, there were 203 million people are suffering from the cardiovascular diseases and is expected to increase 73% by 2030. Furthermore, market players interest in expansion of their companies to Asia Pacific region due to low cost of production. This is likely to positively impact the growth of market in this region. Europe biomarkers market expected to have the notable growth rate owing to the presence of the key market players and increase in the prevalence of diseases in the region.
Competition Assessment: Biomarkers Market
Some of the players in the global biomarkers market include:
- QIAGEN N.V. (Netherlands)
- Merck Millipore (U.S.)
- PerkinElmer, Inc. (U.S.)
- Enzo Biochem, Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Siemens Healthineers (Germany)
- Hoffmann-La Roche AG (Switzerland)
- Thermo Fisher Scientific, Inc. (U.S.)
- Abbott Laboratories (U.S.)
Notable Market Developments: Biomarkers Market
- In June 2018, MDxHealth SA has entered into worldwide licensing agreement with Koninklijke Philip N.V. to manufacture and market Philip’s prognostic prostate cancer biomarker.
- In November 2017, Crescendo Bioscience, Inc. has launched the first multi-biomarker blood test for rheumatoid arthritis.