Press release
Biomarker Technologies Market Size to Grow Value of $58.50 billion by 2026, Top Prominent Players: Illumina, Inc., Merck KGAA
Biomarker Technologies Market
The global biomarker technologies market was estimated at $21.59 billion in 2018 and is expected to hit $58.50 billion by 2026, registering a CAGR of 13.2% during the forecast period.
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COVID-19 scenario-
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
On the other hand, high initial capital investments required for biomarker discovery and lack of awareness regarding the use of biomarker technologies check the market growth to some extent. However, high potential of the emerging economies is expected to create lucrative opportunities for the key players in the industry.
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The consumables segment to rule the roost-
Based on product, the consumables segment accounted for more than two-third of the total market segment in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to the crucial role consumables play in biomarker testing. The instruments segment, on the other hand, is projected to grow at the fastest CAGR of 14.1% through 2019–2026.
The immunoassay segment to retain its top status during the study period-
Based on technology, the immunoassay segment contributed to nearly half of the total market share in 2018 and is anticipated to lead the trail during the estimated period. Rise in prevalence of various types of cancers such as breast cancer, prostate cancer and others has spurred the growth. At the same time, the next generation sequencing segment is predicted to cite the fastest CAGR of 15.1% till 2026.
North America to maintain its dominance through 2019–2026-
Based on geography, North America held more than two-fifth of the market share in 2018 and is anticipated to dominate during the period 2019–2026. Surge in R&D related to drug discovery, easy availability of instruments and consumables, availability of trained technicians, and high prevalence of diseases such as cancer and autoimmune diseases have augmented the growth. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 14.8% till 2026.
To know more about the report, visit the website at @ https://www.alliedmarketresearch.com/biomarker-technologies-market
The major companies profiled ARE:
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche AG
• Illumina, Inc.
• LI-COR, Inc.
• Merck KGAA
• PerkinElmer Inc.
• QIAGEN
• Shimadzu Corporation
• Thermo Fisher Scientific, Inc.
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