The Global Biomarkers Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, and Competitive Landscape etc. According to the report, the Global Biomarkers Market is estimated to reach $ 46.12 billion by 2020 from $ 24.55 billion in 2015 with a CAGR of 13.44%.
The market is segmented by product (consumables, software, and services), Type (safety biomarkers, efficacy biomarkers, and validation biomarkers), application (diagnostics development, drug discovery & development, personalised medicine, disease risk assessment, and other applications), and disease indications (cancer, cardiovascular disorders, neurological disorders, immunological disorders, other diseases). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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.
North America accounted for the largest market share of 39.0% of global biomarkers market owing to growing number of cancer patients, rising adoption of advanced technologies (such as advanced high throughput technologies), increasing research to discover & develop the innovative biomarkers, and existence of huge number of pharmaceutical companies. Asia-Pacific region is estimated to be the fastest growing segment with a CAGR of 16.20% during forecast period 2015-2020. High growth of the market in this region is due to rising demand for diagnostic tests to aware of health conditions, increasing number of cancer patients, growing focus of foreign pharmaceutical companies on Asian market, and increasing involvement of universities & research institutes.
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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