Biomarkers Market Synopsis
As per the research conducted by Market Research Future Reports (MRFR), the worldwide biomarkers market is estimated to record a CAGR of 10.28%, holding a value of USD 4,582.8 million by the end of 2027. The growing research and development funding by the pharmaceutical and biotechnology companies is estimated to be the most significant driver for the global biomarkers market 2020. The application of biomarkers is increasing, affecting the global biomarkers market positively. Further, the increasing prevalence of cancer is estimated to augment the market additionally. Besides, there has been a rise in the number of patients of other chronic diseases leading to the growth of the market. Also, the sudden rise in the worldwide population has resulted in the magnification of the market size. Moreover, the key players in the market are adopting innovative technologies and launching products in the market, which is projected to make the market grow more efficiently.
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However, the technical issues related to the storage and collection, amalgamated with high capital investment is likely to restrict the market from growing. Moreover, the dynamics of the market are estimated to change due to the explosion of the novel coronavirus. We will provide an impact analysis report on COVID-19.
Biomarkers Market Segmentation
The global biomarkers market can be segmented on the basis of type, product, disease indication, application, and region.
On the basis of type, the global biomarkers market can be segmented into efficacy biomarkers, biomarkers, and validation biomarkers.
On the basis of the product, the global biomarkers market can be segmented into services, consumables, and software.
On the basis of disease indication, the global biomarkers market can be segmented into immunological disorders, cardiovascular disorders, cancer, neurological disorders, and others.
On the basis of application, the global biomarkers market can be segmented into disease risk assessment, drug discovery and development, diagnostics, personalized medicine, and others.
On the basis of region, the global biomarkers market can be segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Biomarkers Market Regional Analysis
Based on the region, the global biomarkers market report has been segregated into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. As per the study, the worldwide market for biomarkers is estimated to be dominated by the Americas. The growing development in the field of biomarkers is estimated to augment the market. Besides, the increasing research and development funding for biomarker research is estimated to propel the regional market. Also, the widespread prevalence of cancer is likely to affect the regional market positively. The second position is projected to be acquired by Europe. The most significant factor responsible for the regional market development is the change in lifestyle and the increasing favorable government initiatives taken by the government. On the other hand, the APAC region is projected to expand at the highest pace due to the pocket-friendly clinical trials along with the increasing adoption of developed medical imaging systems. The MEA region is likely to acquire a substantial portion of the market owing to the development in the healthcare infrastructure.
Biomarkers Market Key Players
The renowned players of the global biomarkers market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Qiagen N.V., PerkinElmer Inc., Merck KGaA, Abbott Laboratories, Bio-Rad Laboratories, EKF Diagnostics, Meso Scale Diagnostics, Enzo Biochem Inc., LLC, Signosis, and PerkinElmer Inc. and others.
Biomarkers Industry Updates
August 2020: The scientists at the University of Wisconsin-Madison claim to have developed the technique which combines the sticky nanoparticles with high-precision protein measurement to analyze a common market of heart disease to disclose the previously unreachable details.
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