Biomarkers Market Is Expected To Show Significant Growth Over The Forecast Period 2018-2026

Biomarkers Market Accrues Phenomenally by 2026
with a Staggering CAGR
Biomarkers Market, by Product Type (Biomarker Test Kits, and Biomarker
Analyzers), By Disease Indication (Cancer, Cardiovascular Disorder, Infectious
Disease, Neurological Disorder, Immunological Disorder and Others), by
Application (Diagnosis, Drug Discovery and Development, and Others ), By End
User (Hospitals, Research Laboratories, Ambulatory Surgical Centers, and
Diagnostic Laboratories), and by Geography - Global Forecast to 2025
The Biomarkers Market is estimated to be valued at US$ 29,518.2 Mn in 2017 and is expected to
witness a robust CAGR of 13.6% during the forecast period (2017-2025).
Biomarkers are used for diagnosis and drug development, as these biomarkers can indicate diseases in
the body. Furthermore, biomarkers can be any specific cells, molecules, genes or gene products,
enzymes or hormones. Biomarker-based test are precise and rapid, which help in early prediction of
susceptibility, prognosis, diagnosis, and treatment of disease. Hence, increasing research and
development activities for identifying new biomarkers to diagnose or treat diseases is expected to be
major factor growth of the market.
Biomarker are required for personalized medicine as it helps to identify the unique characteristics of
the disease and helps to tailor medicine according to the need of patients. Hence, to cater to demand for
personalized medicines, pharmaceutical companies are investing in R&D, which is expected to lead to
identification of novel biomarkers, thus aiding in growth of the market.
Market Dynamics
The global biomarkers market is projected to witness significant growth over the forecast period, owing
to rapid advancements in technology for development of novel biomarker. For instance, in February
2018, FDA granted marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood
test for traumatic brain injury named Banyan BTI. Such innovations, targeting different indications, is
expected to drive biomarkers market growth in the near future.
Biomarkers are gaining significant traction in product development and treatment of disorders related
to chromosome structure, Turner syndrome, Down syndrome, Patau syndrome, Edwards’s syndrome,
and others, which is propelling demand for biomarkers. For instance, in February 2018, FDA granted
marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood test for traumatic
brain injury, Banyan BTI. Therefore, introduction of such innovative diagnostic tools for various
disease indication is projected to fuel growth of the biomarkers market over the forecast period.
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Moreover, pharmaceutical companies have started outsourcing the complex bio analysis not only to cut
down costs, however, to take advantage of specialized expertise to improve efficiency in drug
development process. For instance, in March 2018, the SenzaGen signed a key license agreement with
Burlesson Research Technologies, Inc., (BRT)—a contract research organization in the U.S.,
specializing in immunotoxicology. This agreement, will provide BRTs 'GARD' to a broader market.
Competitive Analysis
Key players are involved in new product launches to cater to increasing demand for biomarkers. For
instance, in 2016 Abbott Laboratories launched Point-of-Care i-STAT Alinity, an innovative, handheld
blood testing platform. Some of the other key players in biomarkers market include Medtronic plc, BG
Medicine, Inc., F. Hoffmann-La Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and
Lifesign LLC.
Increasing demand for precision medicine to drive the growth of the global biomarkers market
North America accounts for the largest share in the global biomarkers market and this is attributed to
adoption of precision medicine and growing prevalence of cancer in the region. According to the
National Cancer Institute, 2016, it was estimated that 16.8 million new cases of cancer were diagnosed
in the U.S., with around 595,690 deaths from cancer disease. The number of people suffering from
cancer is expected to rise to 19 million by 2024, which supports increasing demand for precision
medicine.
Furthermore, the U.S. government in 2015 announced the launch of Precision Medicine Initiative that
aimed to revolutionize the treatment to improve health, as precision medicine is an innovative approach
to offer tailored treatment. Precision Medicine Initiative have led to development of novel drugs and
new treatments, tailored for specific characteristic such as person’s genetic makeup or genetic profile of
an individual tumor that helps to transform the way of treatment. This also favors growth of the
biomarkers market in the near future. As for the development of precision medicine, it is essential to
identify biomarkers.
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The Biomarkers Market is estimated to be valued at US$ 29,518.2 Mn in 2017 and is expected to witness a robust CAGR of 13.6% during the forecast period (2017-2025). Biomarkers are used for diagnosis and drug development, as these biomarkers can indicate diseases in the body.