Prognostic Biomarkers Market Set for Rapid Growth And Trend, by 2027
Novel drug efficiency in clinical trials on a certain population is determined using prognostic biomarkers. Hence, prognostic biomarkers have remarkable potential to affect the success rate of clinical trials. They also help in assessing the need and strategy of treatment for specific patients. In the era of personalized medicines and advanced cancer therapeutics, prognostic markers provide the precise selection of treatment for a patient. Thus, helps in reducing the side effects of chemotherapeutic drugs. For the further prediction and development of novel prognostic biomarkers, collaboration of statistical and bioinformatics data is also required.
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Prognostic Biomarkers Market: Drivers & Restraints
An ideal biomarker should have analytical validity, clinical validity and clinical utility. Hence, fast, accurate and feasible prognostic biomarker will grow the demand of industry. Also, not all the patients respond favorably to drugs so continuous need of prognostic biomarkers is there for regular assessment of the treatment. Furthermore, increased development of prognostic biomarkers will reduce the treatment cost. Increasing awareness among doctors, patients and technicians in the developing countries would help in promoting the growth of market. Insufficient partnership between industry and academia is one of the restraint of the industry. More chances of experimental failure, some ethical issues, huge investment, time consumption, technical and commercial challenges limits further development of prognostic biomarkers.
Prognostic Biomarkers Market: Segmentation
Segmentation by Therapeutic Type
Diabetes and others
Segmentation by End User
Segmentation by Application
Drug discovery and research
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Prognostic Biomarkers Market: Overview
Currently, clinicians monitor treatment response by means of blood pressure measurements, anti-double-stranded DNA antibody levels, serum complement levels, urinary protein/creatinine ratios, urinary sediment, and surrogates of renal function. Unfortunately, prediction of disease progression is difficult by using these traditional biomarkers because of their little sensitivity and high LN heterogeneity at presentation. Therefore, continuous need of prognostic biomarker increases for effective treatment strategy these days. Prognostic biomarkers also help the pharmaceutical industry to develop more effective drug and reduce the chances of failure. Sensitivity, specificity and cost are some of the factors determining growth of the industry. The market demand of prognostic biomarkers will increase because of the factors like increasing population, increase in number of chronic diseases, increased investment in healthcare and many more.
Long term investments is one of the requirement essential for the novel systems and thus promoting growth of the industry. One of the commercialized prognostic biomarker assay kit is the Oncotype DX which determine the likelihood that breast cancer will come back in a patient after initial treatment. Similar research activity include Komen funded research projects on prognostic biomarkers which have investment of around $ 60 million in over 120 research grants.
Prognostic Biomarkers Market: Region-wise Outlook
North America dominates the global market because of increasing aging population and increasing innovation and technology. According to WHO cancer trends worldwide, North America is at the top followed by Europe. Furthermore, good reimbursement scenario in these countries increase the demand. Asia-pacific region market is expected to grow in the future because of increase in the number of contract research, increasing population and per capita income of people in these countries. Development of novel biomarkers and their increasing use also help in cutting down the healthcare cost thus promoting the growth of the industry.
Prognostic Biomarkers Market: Key Players
Some of the key players in the prognostic biomarkers industry include Roche diagnostics, Qiagen, Johnson and Johnson, GE Healthcare, Siemens Healthcare, Merck & Co. Inc. and many others.
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