Biomarkers Market Technological Advancements, Revenue And Growth With Key Vendors Like Medtronic, BG Medicine, F. Hoffmann-La Roche, Seimens Healthnineers

Biomarkers are used for diagnosis and drug development, as these biomarkers can indicate diseases in the body. Furthermore, biomarkers can be any specific cells, molecules, genes or gene products, enzymes or hormones. Biomarker-based test are precise and rapid, which help in early prediction of susceptibility, prognosis, diagnosis, and treatment of disease. Hence, increasing research and development activities for identifying new biomarkers to diagnose or treat diseases is expected to be major factor growth of the market.

Biomarker are required for personalized medicine as it helps to identify the unique characteristics of the disease and helps to tailor medicine according to the need of patients. Hence, to cater to demand for personalized medicines, pharmaceutical companies are investing in R&D, which is expected to lead to identification of novel biomarkers, thus aiding in growth of the market.

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Biomarkers are gaining significant traction in product development and treatment of disorders related to chromosome structure, Turner syndrome, Down syndrome, Patau syndrome, Edwards’s syndrome, and others, which is propelling demand for biomarkers. For instance, in February 2018, FDA granted marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood test for traumatic brain injury, Banyan BTI. Therefore, introduction of such innovative diagnostic tools for various disease indication is projected to fuel growth of the biomarkers market over the forecast period.

Precision Medicine Initiative have led to development of novel drugs and new treatments, tailored for specific characteristic such as person’s genetic makeup or genetic profile of an individual tumor that helps to transform the way of treatment. This also favors growth of the biomarkers market in the near future. As for the development of precision medicine, it is essential to identify biomarkers.

Moreover, pharmaceutical companies have started outsourcing the complex bio analysis not only to cut down costs, however, to take advantage of specialized expertise to improve efficiency in drug development process. For instance, in March 2018, the SenzaGen signed a key license agreement with Burlesson Research Technologies, Inc., (BRT)—a contract research organization in the U.S., specializing in immunotoxicology. This agreement, will provide BRTs ‘GARD’ to a broader market. GARD is a group of tests for assessing chemical sensitizers, where the test uses genetic biomarkers for over 200 genes, which cover an entire immune reaction and are relevant to predicting the risk of hypersensitivity. Such advancement and innovation by CROs is expected to favor growth of biomarkers market in the near future.

The biomarkers market is estimated to be valued at US$ 29,518.2 Mn in 2017 and is expected to witness a robust CAGR of 13.6% during the forecast period (2017-2025).
Increasing application and awareness about biomarker tests is expected to be a major factor for growth of the market. Biomarkers are used for diagnostics and early detection of specific diseases over the conventional diagnostics methods. Furthermore, biomarkers such as BRCA1, indicates whether an individual has an increased likelihood of developing cancer. Biomarkers are also applied to a wide variety of therapeutic areas, which include neurological diseases, metabolic disorders, immune deregulation and oncology to treat various disease such as TMI, cancer, Alzheimer diagnosis. Biomarkers are also used to detect ABO haemolytic disease of new born, Huntington disease, and hereditary haemochromatosis, and cystic fibrosis.

Key players are involved in new product launches to cater to increasing demand for biomarkers. For instance, in 2016 Abbott Laboratories launched Point-of-Care i-STAT Alinity, an innovative, handheld blood testing platform. Some of the other key players in biomarkers market include Medtronic plc, BG Medicine, Inc.,

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