Biomarker Tests Market at a CAGR of 14.60% to Estimated USD 31,859.73 Million Growth by 2027

Market Research Future (MRFR)’s latest study reveals that the global biomarker test market would account for USD 9,375 million in 2019 and is also expected to reach USD 31,859.73 million by 2027 and is registered 14.60% CAGR during the forecasted period. The increasing application of biomarkers in the diagnosis of different diseases is likely to fuel demand in the market over the next couple of years.

Rising burden of different types of cancer is one of the key factors driving the growth of the biomarker test market. Large-scale prevalence of cardiovascular, neurological, etc. diseases has paved the way for accelerated investments in clinical trials for the development of biomarkers. The shift towards minimally invasive technology is further expected to propel the expansion of the global biomarker test market.

The technological advancements in the development of biomarkers coupled with support from the government are projected to catalyze the biomarker test market proliferation over the review period. Additionally, the availability of cost-effective clinical trial facilities in the emerging markets such as China, India, etc. is prognosticated to favor the expansion of the biomarker test market in the foreseeable future.

Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/3570

Market Segmentation:

By application, the global biomarker test market has been segmented into cancer, cardiovascular, infectious diseases, central nervous system. The cancer segment holds the largest share of the market. It is likely to retain a substantial share of the global market and is expected to reach a valuation of USD 5,395.6 Mn market towards the end of 2022.

By end-users, the biomarker test market is segmented into pharma & biotech companies, diagnostic tool companies, healthcare IT/big data companies, clinical laboratories. The pharma & biotech companies segment currently accounts for the most significant share of the market. It is projected to exhibit tremendous growth across the assessment period and has been forecasted to value at USD 5,451.8 Mn by 2022-end.

Regional Outlook:

By region, the global biomarker test market has been segmented into North America, Europe, Asia-Pacific, and Middle East & Africa. North America held the largest share of the market in 2015. It is likely to remain highly lucrative market throughout the projection period and reach a valuation of USD 6,640.4 over 2022. The factors responsible for aiding biomarker test market proliferation in the region include developed healthcare infrastructure, catalyzed funding for clinical trials, increasing awareness about treatments, exponential patient population, etc.

Asia Pacific is projected to register a relatively higher CAGR of 15.2% during the assessment period. The growth can be ascribed to increasing patient pool, government support for improving medical facilities, inexpensive clinical trials, the presence of emerging markets, etc.

Competitive Dashboard:

Some of the key players profiled in the report are F. Hoffmann-La Roche AG, PFIZER INC., GE Healthcare, Medtronics, Quest Diagnostics, Novartis AG, and GlaxoSmithKline Plc. Among others.

Industry Developments:

In September 2018, Exagen Diagnostics, the U.S., announced the launch of the first blood test for rheumatoid arthritis biomarker. The test detects anticarbamylated protein antibodies which are found to be exponentially elevated in patients.

In September 2018, the scientists of the U.K. have discovered protein biomarker of early-stage ovarian cancer detectable in a urine test.

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/biomarker-test-market-3570

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York, New York 10013,

United States of America

+1 646 845 9312

Email: sales@marketresearchfuture.com

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

This release was published on openPR.