Biomarkers Market To Be Driven By The Rising Adoption Of Personalized Medicine Till 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
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.
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