Global Biomarker Technologies Market is expected to grow at a CAGR of 16.81% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Biomarker Technologies Market by Product, Type (Validation Biomarkers, Efficacy biomarkers, Safety biomarkers), Disease, and Application, Regionâ?? and Global Forecast 2018-2025.
The global biomarker technologies market is expected to grow from USD 28.31 Billion in 2017 to USD 97.3 Billion by 2025 at a CAGR of 16.81% during the forecast period from 2018-2025. North market is dominated the market and is expected to attain substantial growth in the forecast period. This growth can be attributed to the presence of a large number of well-established R&D infrastructure as well as high level of disposable income, which is driving the growth of biomarker technologies market in this region.
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Key manufactures in the market include Thermo Fisher Scientific, Agilent Technologies, Roche, Danaher Corporation, Waters Corporation, Shimadzu Corporation, Bio-Rad Laboratories, Qiagen N.V., GE, Abbott Laboratories, BiomÃ©rieux SA, Becton, Biomarker Technologies, Inc., Myriad Genetics, Sysmex Corporation, Hologic, Quest Diagnostics, Aushon BioSystem Inc., Epistem Ltd. among others. New developments in the product portfolio by key players are creating new opportunities for the market. For Instance, in 2017, Roche announced its progress in biomarker science in cancer immunotherapy at the European Society for Medical Oncology Congress, and in the same year ABBOTT acquired ALERE, which is a leading manufacturer of biomarkers.
Product segment includes consumables, services, and software. The consumables segment is dominating the biomarker technologies market with USD 11.89 Billion in 2017. The lower price of consumables than that of screening and automation is driving the market. Type segment includes safety, efficacy, and validation. The safety biomarkers dominating the segment due to increasing routine healthcare check-ups and the growing geriatric population. Application segment is divided into segments such as drug discovery, diagnostics and personalized medicine. The drug discovery segment dominated the application segment and is expected to register the highest CAGR of 19.39% in the forecast period. Pharmaceutical companies extensively use biomarkers to accelerate the development of new drug findings, which will lead to the growth of the segment in future.
The disease segment includes oncology, cardiovascular disease, neurological disease, immunological disease and others. The oncology segment dominated the segment due to the growing burden of cancer across the globe and introduction of companion diagnostic tests for oncology drugs.
High investment through government and private funds in cancer related research and growth in importance of biological and targeted drug therapies are some of the factors for the growth of the market. Low estimated rate of successful clinical trials of biomarkers may hamper the growth of market. However, increasing number of cancer patients and growing medical tourism in emerging economies boosting the growth of the market in coming years.
About the report:
The global biomarker technologies market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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