GLOBAL BIOMARKERS MARKET ANALYSIS REPORT PROMISING INDUSTRY BRIGHT FUTURE A REPORT BY MESO SCALE DIAGNOSTICS, LLC., EKF DIAGNOSTICS HOLDINGS PLC, ENZO BIOCHEM INC

According to Data Bridge Market Research new Market report “Global Biomarkers Market” is expected to rise from its initial estimated value of USD 36.19 billion to an estimated value of USD 101.80 billion by 2026, registering a CAGR of 13.80% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing diagnostic applications of biomarkers.

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Global Biomarkers Market By Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease-Risk Assessment, Others), Product Type (Consumables, Services, Software), Technology (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers), Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends & Forecast to 2026

Key Market Competitors:

Few of the major competitors currently working in the biomarkers market are MESO SCALE DIAGNOSTICS, LLC., EKF Diagnostics Holdings plc, Enzo Biochem Inc., Bio-Rad Laboratories, Inc., Merck KGaA, PerkinElmer Inc., QIAGEN, Agilent Technologies, Inc., Bruker, Epigenomics AG, General Electric Company, Nexus-Dx., LifeSign LLC, F. Hoffmann-La Roche Ltd.

Market Drivers

Increasing usage of biomarkers in cancer treatment is driving the market growth.
R&D funding for pharma and biotech companies is increasing which is driving the biomarker market.
Market Restraints

Requirement of significant amount of funds is restraining the market growth.
Unfavorable regulatory and repayment policies are restraining the growth of this market.
Key Developments in the Market:

In November 2016, Insilico Medicine, Inc., announced the launch of Aging.AI 2.0 the blood biochemistry predictor for human age. It is better than the previous version Aging.AI 1.0 and covers more population group.
In February 2018, Evidation Health announced the launch of their new project DisCover which is a 10,000 person chronic pain study. The main aim is to use activity trackers, health apps, and other more traditional data point and develop a digital biomarkers for chronic pains.

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Competitive Analysis:

Global biomarkers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of biomarkers market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Competitive Landscape:

The Major Players in this Market are turning to strategies such as mergers, acquisition and new product developments as major market strategies to penetrate the market. The biomarkers market is highly consolidated with few major companies having a large proportion of the market share.

Biomarkers Market Key Drivers:

Global 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.

Market Segmentation:

On the basis of product type:- Technology, application and indication.

On product type:-

Notable segments; consumables, services and software.

In 2017, consumables segment is expected to dominate the global biomarkers market with 58.6% market share and is expected to reach USD 51,156.05 million by 2024, with the highest CAGR of 15.4% in the forecast period 2017 to 2024.

On the basis of technology:- safety biomarkers, efficacy biomarkers and validation biomarkers.

In 2017, safety biomarkers is expected to dominate the global biomarkers market with 47.8% market share and is expected to reach USD 41,933.30 million by 2024, with the highest CAGR of 15.4% in the forecast period 2017 to 2024.

On the basis of application:- Global 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 market with the market share of 35.4% the market is expected to reach USD 29,148.7 million by 2024, growing at a CAGR of 14.4% in the forecast period 2017 to 2024. However, personalized medicine is expected to grow at the highest CAGR of 16.2% in the forecast period, and is expected to reach USD 19,520.5 million in 2024 from USD 5,901.5 million in 2016.

On indication:- Into four notable segments; cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others diseases.

In 2017, cancer is expected to dominate the global biomarkers market with 38.0% market share and is expected to reach USD 32,632.11 million by 2024, with a CAGR of 15.1% 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 25,063.53 million in 2024 from USD 7,736.13 million in 2016

Global Biomarkers Market Key Points:

Global biomarker market is dominated by Bio-Rad Laboratories, Inc., followed by Perkin Elmer, Inc. and Qiagen.
Consumables segment is expected to dominate the Global biomarker market.
The biomarker market in the Global region is leading in North America, Europe, Asia-Pacific accounts for the highest market share in this region.
Driving Factors:-

Cancer biomarkers are the molecules secreted by a tumor or a specific response of the human body indicating the presence of cancer. The biomarkers enable cancer detection at an early stage and facilitate high-speed noninvasive diagnosis using various genomics and proteomics tools. Cancer biomarkers are used for various applications such as cancer diagnostics, drug discovery and development, prognostics, personalized medicine, and surrogate endpoints. Over the years, cancer biomarkers have become an integral part of research in pharmaceutical and clinical trial companies, as they help to reduce the time and cost of the drug discovery and development process.

Rising Factors:-

Factors such as rising prevalence of cancer, increasing government support for cancer biomarkers research, rising aging population, increasing use of biomarkers in the drug discovery and development process, and increasing use of biomarker tests for diagnosis purposes are fueling the growth of this market. However, poorly suited regulatory and reimbursement systems and high capital investments required for biomarker development and validation are the major factors restraining the growth of this market. Cancer biomarkers’ research and development is highly capital intensive; this is one of the key entry barriers for new players willing to enter the cancer biomarkers market. Majority of the biomarker development studies receive funding from government organizations or large pharmaceutical companies.

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This release was published on openPR.