The global “biomarkers” market is set to gain traction from their increasing usage in a wide variety of applications, namely, drug discovery and development, safety assessment, and medicine. Besides, numerous biotech and pharmaceutical companies are persistently investing huge sums in the research and development activities. The increasing prevalence of cancer is also one of the crucial factors that would affect the market positively during the forecast period.
The above information is given by Fortune Business Insights™ in a recent study, titled, “Biomarkers Market Size, Share & Industry Analysis, By Indication (Oncology, Cardiology, Neurology, and Others), By End User (Pharmaceutical & Biotechnology Companies, Diagnostics & Research Laboratories, Hospitals & Specialty Clinics, and Others), and Regional Forecast, 2019-2026.” The study further mentions that the biomarker market size was USD 39.10 billion in 2018 and is projected to reach USD 97.51 billion by 2026, thereby exhibiting a CAGR of 12.1% during the forecast period.
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Key Players Operating in The Biomarkers MarketInclude:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- R&D System
- Hoffmann-La Roche Ltd.
- R&D System
- Thermo Fisher Scientific
- Axon Medchem
- Bio-Rad Laboratories, Inc.
- BioVision Inc.
- Sino Biological Inc.
- CENTOGENE N.V.
- Other key market players
Increasing Demand for Personalized Medicine to Accelerate Growth
Biomarkers are increasingly used in disease diagnostics. They also play an important role in development of personalized medicine for several disease conditions. Disease diagnosis and treatment procedures possess certain limitations and because of this, the concept of personalized medicine is becoming popular nowadays. Patients suffering from immunological disorders and cancer are rapidly inclining towards customized treatment options based on their genetic and clinical features. It would propel the biomarkers market growth during the forecast period.
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Oncology Segment to Grow Steadily Backed by Rising Prevalence of Chronic Diseases
In terms of indication, the market is grouped into oncology, cardiology, neurology and others. Out of these, the oncology segment dominated the market in 2018. This growth is attributable to the increasing cases of cancer. Growing demand for personalized medicine in diagnosis and treatment of cancer, along with increasing number of new biomarker based assays and tests being introduced by market players, is propelling the growth of oncology segment. Rising prevalence of neurological disorders and increasing investment by key market players in the development of neurology biomarkers are is one of the major factor anticipated to drive the growth of the segment at faster rate.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launches, by Key Market Players
- Prevalence by Disease Indication, By Key Countries/ Region, 2018
- Incidence of Cancer, By Key Countries/ Key Region,2018
- Key industry Developments – Mergers, Acquisitions and Partnerships
- Overview of Biomarkers In Personalized Medicine
- Global Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Indication
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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- Customer research services
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- Value chain analysis
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- Growth dynamics
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Reasons to Purchase this Report:
- Comprehensive analysis of the Biomarkers Marketgrowth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Biomarkers Marketgrowth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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