Chronic Phase Markers Market Global Industry Analysis and Forecast Till 2027

Markers are broadly categorized as biomarkers or molecular markers and biochemical markers. Biomarker, also known as biological marker is commonly used to carry out detection of living organism which acts as a causative agent for specific diseases. It usually refers to a measurable indicator for various biological states or disease conditions in the human body. Biomarker is any substance that can be utilized as an indicator of specific disease condition and is often evaluated to detect pathogenic processes, normal biological process, or pharmacologic response to medical treatment. The elevated levels or absence of these biological markers may indicate the onset or late stage of a chronic disease. However, chronic phase indicates early stages of chronic leukemia which is a type of cancer in white blood cells. It constitutes high amounts of abnormal white blood cells in bone marrow and blood.

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Chronic phase markers are the biomarkers that help in detection of a disease condition with the presence of their elevated levels in patient’s body. Chronic phase markers have vast application in disease diagnosis, treatment, as well as study of disease condition and its stage which increases the demand in chronic phase markers market. These markers are majorly intended for detection of chronic diseases including tumors, rheumatoid inflammatory disease, thyroid cancer, chronic cardiac disorders and others. In a chronic phase, patients commonly have less than 10 percent blast cells present in the blood stream or bone marrow samples obtained from the affected individuals. Chronic phase markers are capable of extreme performance and do not allow confusion between acute and chronic phase detection. Many of these biomarkers work well as both acute and chronic phase markers and thus contribute majorly to the revenue generation in chronic phase markers market. These chronic phase markers are broadly used to diagnose cancerous conditions and thus generates large revenues in the chronic phase markers market owing to their increased demand in health-care centers. Chronic phase markers market on the basis of product type is classified into tumor markers, cardiac markers, inflammatory disease markers, thyroid markers and others.

However, the main customer base for chronic phase markers include hospitals and clinics, research and academic institutions, and diagnostic labs and centers. On the other hand, chronic phase markers market is gaining profit due to rising incidence of chronic diseases across the globe. Chronic myelogenous leukemia is one of the deadly chronic phase disease which registers 8,950 new cases in United States in 2017. Recently, new prognostic markers have been developed that enables improved diagnostics to detect chronic phase in less time. Such biological innovations tend to propel the growth of chronic phase markers market across the globe.

Chronic phase markers consist of various proteins and enzymes used for specific detection of human disease conditions and registers a significant revenue growth in the chronic phase markers market. These biomarkers are used for a variety of diseases including multiple types of cancer, diabetes, malaria, and others, and offers an affordable disease detection platform. This is further anticipated to drive the demand for chronic phase markers and thereby increasing revenue generation in chronic phase markers market.

Chronic Phase Markers: Market Dynamics

Growing awareness among individuals, availability of rapid and cost effective diagnostic chronic phase markers in the market, and a wide range of applications of chronic phase markers is expected to be the key factor driving the growth of chronic phase markers market. Technological advancement leading to development of novel prognostic markers due to developed healthcare infrastructure and rising healthcare expenditure are some other factors propelling the growth of chronic phase markers market. Also, rise in demand for chronic phase markers in the clinical usages, and research and academic institutions is further expected to drive the growth of chronic phase markers market. However, the lack of skilled microbiologists and manpower are some of the factors restraining the chronic phase markers market growth.

Chronic Phase Markers Market: Overview

Based on product type, tumor markers are most commonly used in the chronic phase markers market owing to the increased application of chronic phase markers in detection of chronic stage of the tumors and cost effective tests. Chronic phase markers found major applications in diagnosis of disease conditions progressing in chronic phase. Rising prevalence of cancer due to changing lifestyle is one of the major factor driving the demand of chronic phase markers in early diagnosis of cancer, thereby fueling the chronic phase markers market over the globe. However, the markers have significant applications in detection of wide range of chronic disease and accounts for a significant market share in global chronic phase markers market.

Chronic Phase Markers Market: Region-wise Outlook

On the basis of geography, global chronic phase markers market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is projected to hold largest shares in the global chronic phase markers market primarily due to growing prevalence of multiple types of cancer among individuals, enhanced medical infrastructure and increased healthcare and R&D expenditure. North America is followed by Western Europe which is the second dominating region in global chronic phase markers market worldwide followed by Japan.

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Chronic Phase Markers Market: Key Players

Some of the key players present in global chronic phase markers market are Nordic BioSite, DiaSorin S.P.A., Roche Diagnostics Inc., Bristol-Myers Squibb Company, Hologic Inc., QIAGEN and others.

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This release was published on openPR.