Just How Big Is The Biomarkers Market..? Here's What You Need to Know | Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC

The global biomarkers market is projected to witness significant growth over the forecast period, owing to rapid advancements in technology for development of novel biomarker. For instance, in February 2018, FDA granted marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood test for traumatic brain injury named Banyan BTI. Such innovations, targeting different indications, is expected to drive biomarkers market growth in the near future.

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However, investment required for discovering a biomarker is high, due to the cumbersome biomarker validation, and testing process, which hinders growth of the biomarkers market.

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., F. Hoffmann-La Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.

Millipore Sigma, in May 2017, launched a new single molecule counting platform, SMCxPROTM, during the American Association for Cancer Research Annual Meet. The SMCxPRO platform allows researchers to detect or monitor changes in biomarkers, even at extremely low concentration. Such advancement in the biomarker tests is expected to foster growth of the biomarkers market in the near future.

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Furthermore, governments of various countries are focusing on initiatives, in order to develop novel techniques in precision medicines. For instance, the U.S. government launched Precision Medicine Initiative (PMI) in 2015, in order to increase awareness and focus on advancements in precision medicine field, which in turn, favors growth of the biomarkers market.

Some of the major players involved in the global biomarkers market include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.

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