Biomarkers Market is projected to reach USD 40 Billion in 2018 and expected to register a 13.5% CAGR during the forecast period. Biomarkers are molecules that indicate normal or abnormal processes taking place in the human body and may be a sign of an underlying condition or disease. Various types of molecules, such as DNA, proteins, or hormones, can serve as biomarkers.
The primary factors driving the growth of global biomarkers market are increasing diagnostic applications of biomarkers, increasing R&D funding for pharma and biotech companies, and high prevalence of cancer. According to The American Cancer Society, more than 1.7 million new cancer cases are expected to be diagnosed in 2019 in the Americas. According to the World Health Organization (WHO), more than 3.7 million new cases and 1.9 million deaths occur each year in Europe, and cancer represents the second most important cause of death and morbidity in Europe.
However, high capital investments and technical issues related to sample collection and storage are expected to restrain the growth of the market.
SegmentationThe Global Biomarkers Market has been segmented into Product, Type, Application, and Disease Indication.
By product, the market has been segmented into consumables, services, and software.
On the basis of type, the market has been segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. Efficacy biomarkers are further sub-segmented into predictive biomarkers, surrogate biomarkers, pharmacodynamic biomarkers, and prognostic biomarkers.
Based on application, the market has been segmented into diagnostics, drug discovery and development, personalized medicine, disease risk assessment, and other applications.
Based on disease indication, the market has been segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and other diseases.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The biomarkers market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.
The European Biomarkers market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Biomarkers market in Asia-Pacific has been segmented into Japan, China, India, Latin Korea, Australia, and the rest of Asia-Pacific. The Biomarkers market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key Players
Qiagen N.V. (Germany), Perkinelmer, Inc. (US), Merck Millipore (US), Bio-Rad Laboratories, Inc. (US), Enzo Biochem, Inc. (US), EKF Diagnostics Holdings, Inc. (UK), Meso Scale Diagnostics, LLC (US), Biosims Technologies Sas (France), Cisbio Bioassays (France), and Signosis, Inc. (US) are some of the Key Players in the Global Biomarkers Market.
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