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Research delivers insight into the Global biomarkers market likely to be worth $USD 85,927.95 million by 2024

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Global Biomarkers Market with figures as recent as 2017 and forecasts up to 2024 provides an overview of the industry including its definition, size, share, growth, applications and manufacturing technology. Report also explores the major industry players in detail as well as company profile, product specifications, capacity and production value.

The Global Biomarker Market is expected to reach USD 85,927.95 million by 2024, from USD 28,091.78 million in 2016 growing at a CAGR of 15.1% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global Biomarkers Market By Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease-Risk Assessment, Others), By Product Type (Consumables, Services, Software), Technology (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers), Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)– Industry Trends and Forecast to 2024

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Competitive Landscape:

 The Major Players in this Market are turning to strategies such as mergers, acquisition and new product developments as major market strategies to penetrate the market. The biomarkers market is highly consolidated with few major companies having a large proportion of the market share.

The key industry players in the global biomarkers market are:-

  • PerkinElmer, Inc,
  • Merck & Co, Inc.
  • Bio-Rad Laboratories,
  • Enzo Biochem, Inc.,
  • EKF Diagnostics Holdings, plc,
  • Meso Scale Diagnostics, LLC,
  • Singulex, Inc.,
  • Cisbio Bioassays,
  • Biosims Technologies, and Signosis, Inc
  • among other players.

Biomarkers Market  Key Drivers:

Global biomarker market is growing with the increased usage of biomarkers in cancer treatment, growing efforts towards drug discovery, wide application of biomarkers in personalized medicine and diagnostics, initiatives taken towards biomarker research are furthermore boosting the growth of the global biomarkers market.

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Market Segmentation:

On the basis of product type:- Technology, application and indication.

On product type:-

Notable segments; consumables, services and software.

In 2017, consumables segment is expected to dominate the global biomarkers market with 58.6% market share and is expected to reach USD 51,156.05 million by 2024, with the highest CAGR of 15.4% in the forecast period 2017 to 2024.

On the basis of technology:- safety biomarkers, efficacy biomarkers and validation biomarkers.

In 2017, safety biomarkers is expected to dominate the global biomarkers market with 47.8% market share and is expected to reach USD  41,933.30 million by 2024, with the highest CAGR of 15.4% in the forecast period 2017 to 2024.

On the basis of application:- Global biomarker market is segmented into diagnostics development, drug discovery and development, personalized medicine, disease-risk assessment, and others. In 2017, diagnostic development is expected to dominate the market with the market share of 35.4% the market is expected to reach USD 29,148.7 million by 2024, growing at a CAGR of 14.4% in the forecast period 2017 to 2024.

However, personalized medicine is expected to grow at the highest CAGR of 16.2% in the forecast period, and is expected to reach USD 19,520.5 million in 2024 from USD 5,901.5 million in 2016.

On indication:- Into four notable segments; cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others diseases.

In 2017, cancer is expected to dominate the global biomarkers market with 38.0% market share and is expected to reach USD 32,632.11 million by 2024, with a CAGR of 15.1% in the forecast period 2017 to 2024.  However, cardiovascular disorders is expected to grow at the highest CAGR of 15.9% in the forecast period, and is expected to reach USD 25,063.53 million in 2024 from USD 7,736.13 million in 2016

Global Biomarkers Market Key Points:

  • Global biomarker market is dominated by Bio-Rad Laboratories, Inc., followed by Perkin Elmer, Inc. and Qiagen.
  • Consumables segment is expected to dominate the Global biomarker market.
  • The biomarker market in the Global region is leading in North America, Europe, Asia-Pacific accounts for the highest market share in this region.

Driving Factors:-

Cancer biomarkers are the molecules secreted by a tumor or a specific response of the human body indicating the presence of cancer. The biomarkers enable cancer detection at an early stage and facilitate high-speed noninvasive diagnosis using various genomics and proteomics tools.

Cancer biomarkers are used for various applications such as cancer diagnostics, drug discovery and development, prognostics, personalized medicine, and surrogate endpoints. Over the years, cancer biomarkers have become an integral part of research in pharmaceutical and clinical trial companies, as they help to reduce the time and cost of the drug discovery and development process.

Rising Factors:-

Factors such as rising prevalence of cancer, increasing government support for cancer biomarkers research, rising aging population, increasing use of biomarkers in the drug discovery and development process, and increasing use of biomarker tests for diagnosis purposes are fueling the growth of this market. However, poorly suited regulatory and reimbursement systems and high capital investments required for biomarker development and validation are the major factors restraining the growth of this market.

Cancer biomarkers’ research and development is highly capital intensive; this is one of the key entry barriers for new players willing to enter the cancer biomarkers market. Majority of the biomarker development studies receive funding from government organizations or large pharmaceutical companies.

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Key Questions Answered in Global Biomarkers Market Report:-

What will the market growth rate, Overview and Analysis by Type of Global Biomarkers Market in 2024?

What are the key factors driving, Analysis by Applications and Countries Global Biomarkers Market?

What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Biomarkers Market?

Who are Opportunities, Risk and Driving Force of Global Biomarkers Market?

Who are the opportunities and threats faced by the vendors in Global Biomarkers Market?

What are the Global Biomarkers Market opportunities, market risk and market overview of the Market?

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