Market Research

Biomarkers Market valued at USD 40.1 billion in 2019, and it is predictable to reach USD 101.2 billion by 2026, at a CAGR of 14.2 %, over the forecast period

Jul 1, 2020 4:53 PM ET

iCrowd Newswire – Jul 1, 2020

Biomarkers are widely used in the analysis and management of multiple diseases. Physiological levels of biomarkers also change upon the administration of drugs. The study of numerous biomarkers helps clinicians make meaningful choices about the analysis, disease stage, therapy plan, and prognosis in patients.

The high occurrence of cancer is inspiring research initiatives, motivating the development of the market. Extensive research and technological advancements used for the development of biomarker-based clinical diagnostics are predictable to be the key funders for exchange. An increase in the global affliction of long-lasting diseases, particularly cardiovascular, cancer, diabetes disorders due to an inactive lifestyle, unhealthy diet, and lack of exercise, has been a significant factor motivating the market growth.

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Increasing R&D fueling for pharma and biotech companies, a growing number of CROs and low cost of clinical trials in emerging countries, the high occurrence of cancer, and new edges for research. On the other hand, high capital savings and low cost-benefit ratio poorly suited regulatory and repayment systems, and technical issues related to sample group and storage are the significant reasons confining the growth of this market.

The request for diagnostic markets is growing. Where unoriginal diagnostic tools were focused on making accurate and reliable results, today’s market request extends to new analysis with actual and steady results. There are essential challenges in presenting accurate results in the early stage of diseases, especially in the case of cancer.

Investigative biomarkers are negligible or non-invasive tools. Biomarkers, combined with crucial imaging and data management technologies, are meeting the market prospects; however, they have setbacks too. Biomarkers are used in imaging technology to deliver precise imaging of oncology tumors and other problems and remove the chance of energy revelation during imaging through CT scan and MRI scan.

Biomarkers are used in application areas such as companion diagnostics, personalized medicines, and other diagnostic areas, including drug discovery and growth and disease risk assessment. These growing diagnostic uses of biomarkers are predictable to drive market growth in the coming years. Companion diagnostics and biomarkers have become progressively pertinent in the practice of medicine, foremost to improved diagnosis, dealing, and monitoring across several disease areas. It can be used to recognize patients likely to reply well to certain drugs or cure options. These diagnostics are often used in combination with a specific drug.

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North America conquered the biomarkers market globally in 2018 and is likely to remain leading over the forecast period as well. This local dominance can be attributed to the regional occurrence of major pharmaceutical and biotechnology companies, increasing adoption of the newest technologies, and recognized healthcare infrastructure. The U.S. is the leading biomarker market in North America, which is expected to list the highest CAGR in the years ahead.

The Asia Pacific region is predictable to record high development in the biomarkers market internationally in the years ahead. The rising frequencies of chronic diseases like cancer, neurological disorders, and cardiovascular diseases, rising support of the local governments for drug discovery and growth programs, quickening biomarkers mindfulness for disease analysis, and large patient pool are the major elements boosting the biomarkers market development in the Asia Pacific. China, Japan, and India are forecast to be major funders to the Asia Pacific biomarkers market in the future. The promising environment for clinical trials in the Asia Pacific is likely to fuel the biomarkers market over the prediction period.

Some of the leading players operating in the global biomarkers market are Qiagen N.V., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Merck KGaA, Bio-Rad Laboratories, Abbott Laboratories, EKF Diagnostics, Enzo Biochem Inc., Meso Scale Diagnostics, LLC, Signosis, and PerkinElmer Inc. and other prominent players.

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Keywords:    Biomarkers Market, Biomarkers Market Size, Biomarkers Market Share, Biomarkers Market Growth, Biomarkers Market Forecast