The size of the Biomarkers Market in the Asia Pacific is predicted to reach USD 14.13 billion by 2027 from USD 6.67 billion in 2022, growing at a CAGR of 16.20% during the forecast period.
The biomarkers market in the APAC region is primarily expanding due to rising cancer incidence, developing CROs, and the rising prevalence of chronic disease across the APAC. In addition, people in metropolitan locations are more inclined to adopt sedentary lifestyles, increasing their risk of developing chronic diseases. Increasing chronic illness incidence, particularly cancer, cardiovascular disease, and diabetes, necessitates more research endeavors to support market growth.
In addition, the growing need for biomarkers in diagnostic areas, expanding research and development expenditures, and rising healthcare expenditure are a few of the key factors contributing to the growth in the biomarkers market in the APAC region. Growing number of low-cost clinical trials in emerging countries, growth initiatives in biomarkers research, rising information technology, a rising need for drug discovery are expected to favor the market’s growth rate during the forecast period.
Moreover, the increasing government attempts to minimize the cost of medical procedures and a growing focus on personalized medicine are further boosting the market growth in this region. In addition, the increasing trend in the pharmaceutical industry is expected to increase medication production, which is reflected in favor of the market. Furthermore, the growing investments and funding by the government and private organizations in healthcare centers and growth in the importance of minimally invasive and non-invasive treatment techniques are predicted to fuel the market's growth rate.
However, the limited acceptance of advanced biomarkers tests and the high cost of developing and validating biomarkers limit the biomarkers market’s growth in the Asia Pacific. On the other hand, the Asia Pacific biomarkers market growth is expected to be restrained by the high capital expenditures, high testing costs, and the need for low profit to cost ratios. Furthermore, unfavorable policies by both private and public organizations pose a hurdle to the growth of the APAC biomarkers market.
This research report on the APAC biomarkers market has been segmented and sub-segmented into the following categories:
By Disease Indications:
The Asia Pacific region is expected to grow at a significant compound annual growth rate during the forecast period. Some factors contributing to growth include crucial biomarker participants in the region, strategic planning for joint product development, and increased R & D investment in developing countries. In addition, in emerging countries, the cost of clinical trials is relatively lower than in developed countries, which is expected to impact expansion positively.
China, Japan, India, and Australia are the countries that are significantly contributing to the Asia Pacific biomarkers market expansion.
China held the largest share of the APAC biomarkers market in 2020, and it is likely to register a predominant share during the forecast period. The market growth is projected to be driven by the main driver of rising CVD disease is demographic changes, such as an aging population and lesser younger people. According to the data released by China’s Ministry of Health, 203 million individuals in the country suffer from cardiovascular disease, with that number anticipated to rise by 73% by 2030.
On the other hand, the Indian biomarkers market is anticipated to witness a promising share in the APAC market during the forecast period. The biomarker market is predicted to grow as biopharmaceutical companies invest more in drug discovery and development. In addition, the penetration of biomarker solutions is expected to be boosted by continuing conferences and seminars aimed at promoting awareness about the significance of biomarkers in disease management among the Asian community, which includes patients, healthcare professionals, and research organizations.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Asia Pacific Biomarkers Market profiled in this report are 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.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1.4 Services Growth Hormone Therapy
5.2.2 Safety Biomarkers
5.2.3 Efficacy Biomarkers
5.2.4 Validation Biomarkers
5.3.2 Diagnostics Development
5.3.3 Drug Discovery and Development
5.3.4 Personalised Medicine
5.3.5 Disease Risk Assessment
5.3.6 Other Applications
5.4 Disease Indications
5.4.4 Neurological Disorders
5.4.5 Immunological Disorders
5.4.6 Other Diseases
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Bio-Rad Laboratories (U.S.)
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Qiagen N.V. (Netherlands)
8.3 Enzo Biochem (U.S.)
8.4 PerkinElmer, Inc. (U.S.)
8.5 Merck & Co, Inc. (U.S.)
8.6 EKF Diagnostics Holdings plc. (U.S.)
8.7 Meso Scale Diagnostics, LLC (U.S.)
8.8 Singulex, Inc. (U.S.)
8.9 BioSims Technologies (France)
8.10 Cisbio Bioassays (France)
8.11 Signosis, Inc. (U.S.)
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
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