Pune, India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The global Biomarkers Market size stood at USD 39.10 billion in 2018. The market is slated to expand USD 97.51 billion by 2026, exhibiting a CAGR of 12.1% over the estimated period. North America held USD 14.80 billion biomarkers market revenue in 2018. The increasing prevalence of cancer is also one of the crucial factors that would affect the market positively during the forecast period.
Fortune Business Insights™ provide this information in its research report, titled “Biomarkers Market Forecast, 2023-2026”.
Key Industry Developments:
QIAGEN N.V. announced the launch of its FDA approved tissue companion diagnostic to identify the KRAS G12C mutation in NSCLC tumors, this will help them expand their precision medicine portfolio for Lung Cancer.
F. Hoffmann-La Roche AG, a multinational healthcare company, based in Basel, announced that it has bagged the U.S. FDA approval for biomarker assay. It will be used to deliver PD-L1 status for patients with metastatic urothelial carcinoma (mUC).
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2022 to 2029 CAGR | 12.1% |
| 2026 Value Projection | 97.51 Billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 39.10 Billion |
| Historical Data for | 2015 to 2017 |
| No. of Pages | 110 |
Key Takeaways
- Increasing diagnostic applications of biomarkers is a major driver for the growth of the biomarker industry.
- The growing prevalence of cancer is one of the main drivers of market growth.
- Biomarkers are widely used in medicine, safety assessment, and play an important role in drug development process.
- North America generated biomarker market revenue of US$14.80 billion in 2018.
Increasing Demand for Personalized Medicine to Accelerate Growth
Biomarkers are increasingly used in disease diagnostics. They also play an important role in development of personalized medicine for several disease conditions. Disease diagnosis and treatment procedures possess certain limitations and because of this, the concept of personalized medicine is becoming popular nowadays. Patients suffering from immunological disorders and cancer are rapidly inclining towards customized treatment options based on their genetic and clinical features. It would propel the biomarkers market growth during the forecast period.
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Competitive Landscape-
DiamiR Receives Award from ADDF; Roche Bags FDA Approval for Biomarker Assay
The market consists of several big, medium, and small enterprises that are aiming to gain more biomarkers market share by developing state-of-the-art products and gaining fast track approvals. Various companies are also striving to receive funds from renowned agencies for the creation of new biomarkers.
Segment-
Oncology Segment to Grow Steadily Backed by Rising Prevalence of Chronic Diseases
In terms of indication, the market is grouped into oncology, cardiology, neurology and others. Out of these, the oncology segment dominated the market in 2018. This growth is attributable to the increasing cases of cancer. Growing demand for personalized medicine in diagnosis and treatment of cancer, along with increasing number of new biomarker based assays and tests being introduced by market players, is propelling the growth of oncology segment. Rising prevalence of neurological disorders and increasing investment by key market players in the development of neurology biomarkers are is one of the major factor anticipated to drive the growth of the segment at faster rate.
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Regional Analysis-
Rising Investment by Key Players to Favor Growth in North America
The market is geographically fragmented into Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. Out of these regions, in 2018, North America held USD 14.80 billion biomarkers market revenue and is expected to grow by showcasing a high CAGR in the coming years. This is likely to occur because of the rising investments by several industry giants in the development of biomarkers. The region will be followed by Europe.
Asia Pacific, on the other hand, is anticipated to grow with a higher CAGR owing to the increasing demand for disease diagnosis because of the rising incidence of cardiovascular disease and cancer. As per the Ministry of Health, approximately 203 million people are living with cardiovascular diseases in China at present. It is set to upsurge by 73.0% in 2030. It would in turn, drive the growth of the market in this region.
List of Key Players Profiled in the Biomarkers Market Report:
- Abbott
- R&D System
- F. Hoffmann-La Roche Ltd.
- R&D System
- Thermo Fisher Scientific
- Axon Medchem
- Bio-Rad Laboratories, Inc.
- BioVision Inc.
- Sino Biological Inc.
- CENTOGENE N.V.
- Other key market players
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launches, by Key Market Players
- Prevalence by Disease Indication, By Key Countries/ Region, 2018
- Incidence of Cancer, By Key Countries/ Key Region,2018
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Overview of Biomarkers In Personalized Medicine
- Global Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Cardiology
- Neurology
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Cardiology
- Neurology
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Cardiology
- Neurology
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Indication
- Oncology
- Cardiology
- Neurology
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
TOC Continued………….
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