Biomarkers Market Business Opportunties and Growth 2018 to 2026
Biomarkers
are used for diagnosis and drug development, as these biomarkers can
indicate diseases in the body. Furthermore, biomarkers can be any
specific cells, molecules, genes or gene products, enzymes or
hormones. Biomarker-based test are precise and rapid, which help in
early prediction of susceptibility, prognosis, diagnosis, and
treatment of disease. Hence, increasing research and development
activities for identifying new biomarkers to diagnose or treat
diseases is expected to be major factor growth of the market.
Biomarker are
required for personalized medicine as it helps to identify the unique
characteristics of the disease and helps to tailor medicine according
to the need of patients. Hence, to cater to demand for personalized
medicines, pharmaceutical companies are investing in R&D, which
is expected to lead to identification of novel biomarkers, thus
aiding in growth of the market.
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Market
Dynamics
The global biomarkers market is projected to witness significant
growth over the forecast period, owing to rapid advancements in
technology for development of novel biomarker. For instance, in
February 2018, FDA granted marketing authorization to Banyan
Biomarkers, Inc. for the first diagnostic blood test for traumatic
brain injury named Banyan BTI. Such innovations, targeting different
indications, is expected to drive biomarkers market growth in the
near future.
Key features of the study:
This report provides
in-depth analysis of the biomarkers market size (US$ Million) and
Cumulative Annual Growth Rate (CAGR (%)) for the forecast period:
2017 – 2025, considering 2016 as the base year
It elucidates
potential revenue opportunity across different segments and explains
attractive investment proposition matrix for this market
This study also
provides key insights about market drivers, restraints,
opportunities, new product launches or approval, market trends,
regional outlook, and competitive strategy adopted by the leading
players
It profiles leading
players in the global biomarkers market based on the following
parameters – company overview, financial performance, product
portfolio, geographical presence, distribution strategies, key
developments and strategies
Moreover,
pharmaceutical companies have started outsourcing the complex bio
analysis not only to cut down costs, however, to take advantage of
specialized expertise to improve efficiency in drug development
process. For instance, in March 2018, the SenzaGen signed a key
license agreement with Burlesson Research Technologies, Inc., (BRT)—a
contract research organization in the U.S., specializing in
immunotoxicology. This agreement, will provide BRTs 'GARD' to a
broader market. GARD is a group of tests for assessing chemical
sensitizers, where the test uses genetic biomarkers for over 200
genes, which cover an entire immune reaction and are relevant to
predicting the risk of hypersensitivity. Such advancement and
innovation by CROs is expected to favor growth of biomarkers market
in the near future.
The biomarkers
market is estimated to be valued at US$ 29,518.2 Mn in 2017 and is
expected to witness a robust CAGR of 13.6% during the forecast period
(2017-2025).
Key players are
involved in new product launches to cater to increasing demand for
biomarkers. For instance, in 2016 Abbott Laboratories launched
Point-of-Care i-STAT Alinity, an innovative, handheld blood testing
platform. Some of the other key players in biomarkers market include
Medtronic plc, BG Medicine, Inc., F. Hoffmann-La Roche Ltd., Seimens
Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.
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