Global Biomarkers market is expected to reach USD 46.12 billion by 2020 from USD 24.55 billion in 2015, growing at a CAGR of 13.44% during forecast period 2015-2020.
Biomarkers are described as the biological molecules or genes assist in crucial clinical decisions and diagnosis of health conditions in patients. These are also known as molecular markers or signature molecules and used to analyze the pharmacologic responses, biological & pathological conditions. Biomarkers are found extensively in body fluids and tissues. Biomarkers are helpful in drug discovery & development processes and assessment of disease conditions.
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Increasing research & development spending, rising healthcare expenditure, and growing demand for biomarkers in diagnostic field are driving the growth of global biomarkers market. In addition, increasing number of low cost of clinical trials in emerging countries, growing initiatives in biomarkers research, increasing growth of information technology, growing demand for drug discovery are further propelling the growth of global biomarkers market. However, requirement of high investment, improper reimbursement policies, poor regulatory bodies, high cost of testing procedures, and difficulties in sample collection & storage are the major factors restraining the growth of global biomarkers market.
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Global biomarkers market is segmented based on the product, type, application, and disease indications. Based on product, the market is further sub-segmented as consumables, software, and services. Based on type, the market is segmented as safety biomarkers, efficacy biomarkers, and validation biomarkers. Biomarkers application is further segmented as diagnostics developments, drug discovery & developments, personalized medicine, and disease risk assessment. Based on disease indications, the market is segmented as cancer, cardiovascular, neurological, and immunological disorders.
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On the basis of geographical region the global biomarkers market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America held the major market share of 39.0% of the global biomarkers market in 2015, whereas Asia-Pacific is estimated to grow at the highest CAGR of 16.20% during the forecast period 2015-2020.
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The key players in global biomarkers market include, Bio-Rad Laboratories (U.S.), Qiagen N.V. (Netherlands), Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.), Singulex, Inc. (U.S.), BioSims Technologies (France), Cisbio Bioassays (France), and Signosis, Inc. (U.S.).
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