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Biomarkers, also known as molecular markers or signature molecules, can be used to check that how body responds to any illness or disease being treated. They are used to examine the functions of the organs and other health conditions, in simple words. They are also used in imaging technology to provide precise imaging of tumours and other problems in oncology. They are also used in early phase clinical trials to assess drug results and effects.
The global biomarkers market was valued at $XX Billion in 2018 and is estimated to reach $XX Billion by 2026, growing at a CAGR of around X.XX% during the forecast period. Growth in the global biomarker industry is driven primarily by factors such as growing biomarker diagnostic applications, rising R&D funding for pharmaceutical and biotech companies, greater prevalence of CROs and low cost clinical trials in developing countries, high cancer prevalence and new research initiatives. On the other hand, the major factors hampering the growth of this market are high capital investment and a low cost-benefit ratio, poorly suited regulatory and reimbursement processes, and technical issues related to sample collection and storage. Moreover, paradigm shift towards personalized medicine for cancer treatments, development of OMICS technology and rising interdisciplinary systems biology approach is expected to drive the market for biomarkers.
The global biomarkers market is segregated on the basis of product, type, disease indication, application, and geography. By product, the biomarkers market is segmented into consumables, services, and software. The consumables segment accounted for the largest share
Based on type segment, the biomarkers market is bifurcated into safety, efficacy, and validation biomarkers. The efficacy biomarkers segment is further segmented into predictive, surrogate, pharmacodynamics, and prognostic biomarkers.
By disease indication, this report is segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and other disease indications. Cancer forms the largest segment primarily due to the rising prevalence of cancer globally and the growing application of biomarkers in cancer diagnostics.
Biomarkers are mainly used in diagnostics, drug discovery & development, personalized medicine, disease risk assessment, and other applications. Moreover, increasing use of biomarkers for the diagnosis of multiple diseases, including cancer, cardiovascular disorders, and neurological disorders is the major factor that drives the growth of diagnostic segment of the biomarker market.
Based on region, has been segmented into North America, South America, Europe, Asia-Pacific, and the Middle East & Africa. North America held the largest market share for biomarkers attributed to increasing developments in diagnostic applications of biomarkers, spurring R&D funding for biomarker research, and high prevalence of cancer. Europe accounts for the second-largest share in the global biomarkers market owing to the presence of favorable government initiatives and laws, large target population base, rising prevalence of lifestyle-associated conditions, and increasing adoption rate of biomarker dependent diagnostic tests.
Along with these companies, there were many other companies considered/ cited in the report while analyzing the biomarkers market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. other players have considerable presence owing to its robust brand image, geographical reach, and strong customer base.
Starting from $2700
Starting from $2700
Starting from $2700
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