ID: MRFR/LS/1409-CR | April 2020 | Region: Global | 165 pages
Biomarkers Market is anticipated to grow at CAGR of 10.28% throughout the evaluation period to reach a USD 4,582.8 Million by 2027. With an escalating rate of chronic and life-threatening illnesses, the requirement for detailed diagnostic procedures is increasing. There is an upsurge in the number of suppliers, producers, and service contributors of biomarkers globally, creating enormous market growth opportunities.
The surge in COVID-19 cases has contributed massively to the development of the biomarker technologies market. The molecular markers in the blood that are predictive of acute COVID-19 infections brought about a SARS-CoV-2 coronavirus infection have recently been pinpointed in a Chinese research team study. The amplified studies being launched into study results about the understanding of the pathophysiology and clinical progress of COVID-19 with the capacity for categorizing early in infection, which individuals who are most in danger of increasing harsh conditions and requiring hospital care. The sure in funding for studying biomarkers and outcomes in COVID-19 and other chronic ailment afflicted patients. The biomarkers have constantly played a vital role in clinical decision making in numerous infectious diseases treatment procedures. It has become progressively important to assess biomarkers' role in determining the severity of disease and suitable resource allocation.
High Prevalence Of Cancer
The spike in cancer cases globally promotes the use of biomarkers to detect the consdition earlier to treat it is projected to spur the cancer biomarker market.
Increasing Applications And Advancements Of Biomarkers
The breakthroughs in cardiac biomarkers, cardiovascular biomarkers, neurological biomarkers, autoimmune biomarkers, and immunology biomarkers are predicted to enhance the biomarkers market.
Increasing Product Launches By Major Players
The funding by private investors is estimated to have a notable effect on product launches in the biomarkers market through the upcoming period.
High Capital Investment
The increased level of investment required for research into biomarkers research and their identification may lessen the coming period's growth pace.
Incorporation Of Artificial Intelligence (Ai) In The Biomarker Technology
The use of biomarkers in oncology has been extensive than any other disease for more than three decades. Biomarkers have been used beyond the research laboratory to more clinical use in the monitoring disease status, diagnosis, and treatment effectiveness. Hence, the intensifying circumstances of cancer are likely to propel the biomarker test market growth globally.
Based On The Product
The consumables segment was reported as the largest biomarker market share, thus promoting the overall biomarkers diagnostics market growth.
Based On Type
The safety biomarkers segment held the most considerable revenue in 2019, while the efficacy biomarkers segment recorded the maximum CAGR all through the forecast period. The technological developments in sequence profiling tools, multiplex biomarkers platform, and the growing need to interpret DNA sequences, proteins, and nucleic acids will increase the testing through biomarkers.
The diagnostics segment held a CAGR of 10.63% throughout the estimated period. The expanding incidence and commonness rates of lasting diseases, the progress of companies operating in the market, a mounting number of clinical trial candidates, and the need for precise therapy and diagnosis push this application segment's growth in the forthcoming period.
By Disease Indication
The neurological disorders segment was the quickest rising with a CAGR of 10.69%. This growth can be attributed to biomarkers' ability to cover specific medical needs.
U.S. To Guide The Overall Development Of The Americas Region
The Americas has been segmented into North America and Latin America, with the North America biomarkers market projections market further divided into the United States biomarkers market and Canada. The Americas held the largest market share for biomarkers in 2019, attributed to intensifying advances in biomarkers' diagnostic uses, encouraging R&D backing for biomarker research, and elevated cancer prevalence.
European Region To Forge Ahead by 2027
The European biomarkers market is credited for the second principal share in the global biomarkers market. Due to good government plans and laws, a big target population base, collective occurrence of lifestyle-associated conditions, and an expanding adoption rate of biomarker-dependent diagnostic tests are estimated to promote the global market.
APAC To Show Resurgent Growth
The biomarkers market trends in the Asia Pacific, such as the escalating number of contract research organizations and the minimal cost of clinical trials combined with the rising adoption of progressive medical imaging systems, are estimated to enhance the biomarkers market share of the region.
MEA Region To Show Steady Progress By 2027
The Middle East & Africa biomarkers market includes the key regions such as the Middle East and Africa. In this region, the developing healthcare setup and progressively growing treatment implementation are assessed to transform the MEA regional market.
The outstanding players in the biomarkers market are
|Market Size||USD 4,582.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Type, Application, Disease Indication|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Qiagen N.V.,, Thermo Fisher Scientific Inc. Hoffmann-La Roche Ltd, PerkinElmer Inc., Merck KGaA, Bio-Rad Laboratories, Abbott Laboratories, EKF Diagnostics, Enzo Biochem Inc., Meso Scale Diagnostics, LLC, Signosis, PerkinElmer Inc.|
|Key Market Opportunities||Advancement in the area of medical technologies|
|Key Market Drivers||Increasing use of biomarkers to increase the accuracy of disease diagnosis|
Frequently Asked Questions (FAQ) :
Biomarkers market is expected to exhibit a CAGR of 13.5% from 2019 to 2025.
Biomarkers market is expected to touch USD 40 billion in 2018.
High prevalence of cancer, rise in the funding for pharmaceutical and biotechnology companies, and rise in applications of biomarkers are the major drivers of the global biomarkers market.
Technical issues pertaining to collection and storage combined with high capital investments are restraining factors which can dampen the global biomarkers market.
The Americas is expected to hold the largest share of the global biomarkers market.
The MEA region holds the lowest share of the global biomarkers market.
Bio-Rad Laboratories, Inc., Biosims Technologies Sas, Merck Millipore, Perkinelmer, Inc., Enzo Biochem, Inc., Signosis, Inc., Cisbio Bioassays, Meso Scale Diagnostics, LLC, EKF Diagnostics Holdings, Inc., and Qiagen N.V. are the major players of the global biomarkers market.