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Biomarkers Market Expected to Flourish at CAGR 18.5% to 2018

By BiotechDaily International staff writers
Posted on 15 Oct 2013
The global biomarkers market demonstrates high growth possibilities and accounts for USD 17.5 billion in 2013. It is expected to grow at a compound annual growth rate (CAGR) of 18.5% from 2013 to 2018, to reach USD 40.8 billion by 2018, according to a recent market report.

A biomarker is an identifiable and measurable characteristic, which identifies the severity and/or occurrence of a specific disease. It has major applications in the discovery and development of novel therapeutic drugs.

Recent developments in discovery technologies, high demand from the indications of various diseases, increasing collaborations to boost biomarker research activities, increase in government and private sector investments and funds for biomarker discovery, US Food and Drug Administration (FDA) support for biomarker development, and increasing utility of biomarkers in patient stratification and drug development process are the key drivers slated to fuel the growth of this market. However, a few essential factors such as the high capital investment and low benefit-cost ratio, cumbersome biomarker validation procedure, and difficulty in sample collection and its storage are expected to hamper the growth of this market, according to internet market research company RnRMarketResearch.com (Dallas, TX, USA).

The global market has been segmented into discovery technologies, services, applications, and disease indications. The biomarker discovery technology market has been further segmented into ‘omics technology, imaging technology, and bioinformatics. The ‘omics technology sector accounts for the largest share in this market, chiefly due to the increase in adoption of proteomics and genomics technologies worldwide.

Drug discovery and development segment holds the largest share of biomarker applications market. This is attributed to the potential of biomarkers to reduce the time span of clinical trials, which ultimately decreases the overall cost of the entire drug discovery and development process.

The global biomarkers market, on the basis of type of disease, is additionally classified as oncology, cardiology, neurology, and other diseases (renal disorders, HIV, diabetes, arthritis, and tuberculosis). Oncology biomarkers market accounts for the major share of the biomarker disease indication market, and furthermore, this market is forecast to grow at the highest growth rate in the next five years. Increasing need for the early diagnosis of tumor cells is the major factor stimulating the growth of oncology market. Oncology biomarkers enhance the screening and early detection of cancer as well as facilitate the high-speed, noninvasive cancer diagnosis procedure, according to RnRMarketResearch dot com analysts.

The key players in this market are Roche Diagnostics Limited (Switzerland), Johnson & Johnson (United States), GlaxoSmithKline, Plc. (United Kingdom), Siemens Healthcare (Germany), Abbott Laboratories, Inc. (United States), GE Healthcare (United Kingdom), Affymetrix, Inc. (United States), Thermo Fisher Scientific, Inc. (United States), Epigenomics, AG (Germany), Eisai Co., Ltd. (Japan), Bio-Rad Laboratories, Inc. (United States), Eli Lilly and Company (United States), Merck & Co. (United States), Genomic Health, Inc. (United States), and Agilent Technologies, Inc. (United States).

RnRMarketResearch.com is an online database of market research reports that provide analysis of over 5,000 market segments. The library has syndicated reports by market research publishers worldwide and also offer customized market research reports for multiple industries.

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