Biomarkers Market To Reach $78.2 Billion By 2024: Grand View Research, Inc.
The global biomarkers market is expected to reach over USD
78.2 billion by 2024, according to a new report by Grand View Research, Inc.
The growing demand for companion diagnostics and the rising adoption of
personalized medicine are the key factors propelling the growth of the
biomarkers market. The increasing need of disease-specific biomarkers for the
development of diagnostics, the increasing R&D funding, and the rising
prevalence of oncology and cardiovascular-based diseases are anticipated to
create significant opportunities for the market growth during the forecast
period.
The spiraling population and the upward trend in the
adoption of sedentary lifestyles are expected to provide the industry with a
huge target population base. Government grants and research funding for the
discovery and development of novel biomarkers are the other factors
accentuating the market growth. The introduction of the biomarker-based diagnostic
kits for screening high-risk population coupled with the growing prevalence of
genetic disorders is also anticipated to increase the client base for this
market.
Browse full research report on Biomarkers Market: http://www.grandviewresearch.com/industry-analysis/biomarkers-industry
Further key findings from the study suggest:
- The
safety biomarkers segment held the largest share of over 40% in 2015 owing
to the increasing routine healthcare checkups and the growing base of the
geriatric population that is at a high risk of developing various diseases
- The
validation biomarkers segment is determined as one of the fastest growing
segments. The increasing R&D initiatives for the development of more
specific biomarkers, and hence the subsequent development of companion
diagnostics with enhanced accuracy and sensitivity for the effective
detection of diseases are key factors contributing towards the
aforementioned growth.
- The
drug discovery segment dominated the application segment in 2015.
Biomarkers are extensively used by pharmaceutical companies to accelerate
the development of new drug findings and to predict the failure of the
upcoming drugs.
- The
diagnostic segment is estimated to witness a lucrative growth over the
forecast period owing to the growing awareness about routine healthcare
checkups and the rising prevalence of various diseases
- In
2015, the oncology segment dominated with a revenue generated over USD 9.2
billion owing to the introduction of companion diagnostic tests for
oncology drugs and the growing burden of cancer across the globe
- The
cardiovascular segment is expected to be the fastest growing segment with
a CAGR of over 14.0%. The growing adoption of sedentary lifestyles and the
rise in the obese population base leading to cardiovascular diseases are
estimated to provide this market with a potential growth platform.
- North
America held the largest regional share of around 39% in 2015. The
well-established R&D infrastructure and the high level of disposable
income are the factors contributing towards the large market share.
- Asia
Pacific is anticipated to be the fastest growing biomarker market owing to
the factors, such as the developing economic conditions, a large base of
the target population, and a favorable regulatory scenario for clinical
trials.
- Major
players include Roche Diagnostics Ltd., Abbott Laboratories, Inc., Agilent
Technologies, Inc., Epigenomics AG, GE Healthcare, Johnson and Johnson,
Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Siemens
Healthcare GmbH, Qiagen, Inc., Merck& Co., Inc., and others
- Market
participants are ensuring stability by fundingthe growing R&D
initiatives and focusing on the developing countries through the expansion
and introduction of novel biomarker diagnostics.In 2015, Pfizer, Inc.
developed a lung cancer therapy drug, Crizotinib used in non-small cell
lung cancer therapy associated with ALK fusions.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the global biomarkers
market on the basis of application, type, and region:
Global Biomarkers Type Outlook (Revenue, USD Million,
2014 - 2024)
- Safety
- Efficacy
- Validation
Global Biomarkers Application Outlook (Revenue, USD
Million, 2014 - 2024)
- Diagnostic
- Drug
Development
- Personalized
Medicine
- Others
Global Biomarkers Disease Outlook (Revenue, USD Million,
2014 - 2024)
- Oncology
- Cardiovascular
disease
- Neurological
disease
- Immunological
disease
- Others
Biomarkers Regional Outlook (Revenue, USD Million, 2014 -
2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-biomarkers-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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