Biomarker Tests Market Astonishing Growth with Top Influencing Key players
A biomarker or biological marker is a metric for
understanding the behavior of a cell. Biomarker tests are preventive measures
for the diagnosis of chronic diseases at an early stage. For instance, high levels of cholesterol can
indicate the possibility of a heart attack or the abnormal growth of cells can
signify the presence of cancer.
Biomarkers are used
as endpoints in a clinical trial to ensure its relevant outcome. The global biomarker
test market report by Market Research Future (MRFR) contains drivers,
challenges, trends, and opportunities for the period of 2019 to 2025 (forecast
period).
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Biomarker Test Market Analysis
The global biomarker test market size is projected to touch
USD 24,259 million by 2025. It stood at a value of USD 9,375 million in 2018.
The market is touted to register a CAGR of 14.6% over the forecast period.
Inclination of patients towards home healthcare and
self-diagnosis, high demand for biological markers in next-generation
sequencing technologies, and rising prevalence of targeted therapies are
factors expected to drive to market growth. Technological breakthroughs in
diagnostic methods and emergence of personalized medicine can open up new
avenues of growth. Biomarker tests have been developed for the diagnosis of
infectious diseases, cardiovascular diseases, and cancer.
Reports by the National Institute of Environmental Health
Sciences (NIEHS) stating the identification and validation of biomarkers,
classification of these compounds by specific diseases, and discovery of
patients showing signs of diseases when exposed to certain environments are
likely to facilitate market growth. Rising prevalence of genetic disorders and
development of tests to support clinical decision making can augur well for the
global biomarker test market.
But lack of awareness of applications of biomarkers,
difficulties in their implementation, and a stringent regulatory framework are
factors that can restrain the global biomarker test growth.
Segmentation
The global biomarker tests market has been segmented into
application and end user.
Based on application, the global market is segmented into
central nervous system, cancer, cardiovascular, infectious diseases, and
others. The cancer segment dominated the market in 2018 due to the growing
cases of cancer, the increasing demand for rapid and precise diagnostic tools,
and awareness of personalized medicine. According to the World Health
Organization (WHO), in 2018, cancer was the second-leading cause of death
worldwide. This can trigger the need for cancer biomarker tests which can let
patients take preventive measures.
Based on end user, the global market caters to clinical laboratories,
pharma & biotech companies, healthcare IT/big data companies, and
diagnostic tool companies.
Regional Analysis
Based on region, the global biomarker tests market is
segmented into North America, Europe, Asia Pacific (APAC), and the Middle East
& Africa (MEA).
North America held the lion’s share of the market in 2018
due to higher prevalence of diseases and efforts taken at research and
development. Presence of major pharmaceutical majors such as Quest Diagnostics,
Abbott, and Thermo Fisher Scientific, Inc., that can ensure a constant steady
of demand-supply to customers or end-users can fuel the regional biomarker test
growth.
The APAC biomarker test market can amass significant
revenues due to increasing incidence of infectious diseases and increasing
investments by research and development companies. In addition, the low cost of
clinical trials as compared to developed countries can drive the investment
rate by market players. Increasing collaborations of universities with
pharmaceutical companies is likely to bode well for the market.
Competition Outlook
GlaxoSmithKline plc, GE Healthcare, Pfizer Inc., Novartis
AG, Medtronic plc, F. Hoffmann-La Roche AG, and Quest Diagnostics are prime
players operating in the global biomarker test market.
Industry News
A discovery of a biomarker able to predict childhood obesity
at an early age in pre-school Hispanic children. It was detected at CpG
dinucleotides by the differential methylation in saliva. The prediction of
childhood obesity can be used prevent the onset of type 2 diabetes, cancer, and
high blood pressure.
Biomarker Test Market, Biomarker Test Market Size, Biomarker
Test Market Growth, Biomarker Test Market Analysis, cancer biomarker test
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