Global Biomarker Market Reports, Industry Trends and Forecast to 2024


Posted September 21, 2018 by kunalraut

Global Biomarker Market is expected to reach USD 85,927.95 million by 2024 from USD 28,091.78 million in 2016, at a CAGR of 15.1%.

 
Global Biomarker Market is expected to reach USD 85,927.95 million by 2024 from USD 28,091.78 million in 2016, at a CAGR of 15.1%. 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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INCREASED USAGE OF BIOMARKERS IN CANCER TREATMENT
Usage of biomarker has increased due to prevalence of cancer. A cancer biomarker is a process to detect cancer in an individual’s body. Biomarkers such as imaging biomarkers can be used for cancer diagnosis. Biomarkers may be used to predict and monitor a patient’s breast cancer recurrence of the disease after treatment. In patients who have been diagnosed with a cancer, biomarkers can help determine prognosis. According to a paper published in targeted oncology, the Interleukin-2 (IL-2) is used for melanoma and renal cancer, which leads to durable complete responses. As the number of cancer patients are increasing at an alarming rate, therefore, usage of biomarkers are also increasing which is boosting the biomarker market.

Global Biomarker Market
By Application
• Diagnostics Development,
• Drug Discovery and Development,
• Personalized Medicine,
• Disease-Risk Assessment,
By Product Type
• Consumables,
• Services,
• Software
Technology
• Safety Biomarkers,
• Efficacy Biomarkers,
• Validation Biomarkers
Indication
• Cancer,
• Cardiovascular Disorders,
• Neurological Disorders,
• Immunological Disorders,
Geography
• North America,
• Europe, Asia-Pacific,
• South America,
• Middle East and Africa

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Drivers: Global Biomarker Market

The factors such as increasing usage of biomarkers in treatment of cancer, rising efforts towards drug discovery, rising demand of personalized medicines, initiatives for biomarker research are driving the growth of market.
GROWING EFFORTS TOWARDS DRUG DISCOVERY
Biomarkers play an important role in in drug discovery and development. The challenge for biomarkers is to allow earlier, more robust drug safety and efficacy measurements
According to Precision Medicine Initiative in January 2015 an investment of USD 70.0 million to the National Cancer Institute (NCI) to scale up efforts to identify genomic drivers in cancer and apply that knowledge in the development of more effective approaches to cancer treatment. The clinically useful biomarkers are essential for informing regulatory and therapeutic decision making related to the candidate drugs and their indications for helping the new medicines to the right patients faster than before.
Since drug discoveries are occurring at high number, and for their clinical validation of the drugs, the biomarkers are used in large amount, which is boosting the biomarker market.

Major Players: Global Biomarker Market
Some of the Major Players Operating in this Market are:-
• Merck & Co. Inc.,
• Bio-Rad Laboratories Inc.,
• EKF Diagnostics,
• Enzo biochem Inc.,
• Qiagen,
• Perkin Elmer Inc.
• Meso Scale Diagnostics,
• LLC,
• Singulex, Inc.,
• Signosis, Inc., and
• Cisbio Bioassays
• among others.

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Country India
Categories Business
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Last Updated September 21, 2018