Rising incidence of target disease, increasing strategic developments such as partnerships & agreements, and product launches are contributing to the demand for the market.
New York, NY -- (SBWIRE) -- 05/04/2021 -- Biomarkers Market Size – USD 41.47 Billion in 2019, Industry Growth - CAGR of 13.6%, Industry Trends –Favorable research funding scenario.
The global Biomarkers Market is forecasted to reach USD 115.45 Billion by 2027, according to a new report by Reports and Data. An increasing incidence of prolonged, fatal diseases is boosting the demand for precision diagnosis. A substantial rise in biomarkers' distributors, manufacturers, and service providers all over the world is creating lucrative prospects in the market.
The growing prevalence of cancer and extensive R&D and technological advancement for the development of biomarker will fuel the market demand. A rise in the various contract research organizations entering the market is expected to encourage biomarkers demand. The rise in chronic diseases, especially diabetes and cardiovascular disorders, owing to the unhealthy diet, sedentary lifestyle will boost the growth of the market. The global market is gaining traction due to a surge in personalized medicine, companion diagnostics, and cost reduction in clinical trials in various emerging nations.
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The Key Companies Profiled in the Market are:
Merck Millipore, Enzo Biochem, Inc., Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Meso Scale Diagnostics, LLC, Ekf Diagnostics Holdings, Inc., Biosims Technologies Sas, Signosis, Inc., Cisbio Bioassays, and Johnson & Johnson Services, Inc., among others.
The COVID-19 impact:
The distribution of Covid-19's has influenced industrial activities worldwide. Pharma company manufacturers are at the forefront of human response to the COVID-19 pandemic. An increase in the number of biotech firms to explore and develop a vaccine for the virus has developed a strict competition. Biomarkers are playing a crucial role in the development of therapies for chronic diseases at an unprecedented rate, and a substantial amount of funds are being put into the research and development of the market product. The market will witness an increased demand in the coming years.
Further key findings from the report suggest
About 1.7 million individuals suffer from traumatic brain injury in the US each year, which leads to lifelong behavior and cognitive deficits. Thus, substantial emphasis is being made on biomarker discovery for such injuries, with the potential of transforming diagnostics of traumatic brain injury patients and care.
Surrogate biomarkers are beneficial in measuring the root cause of a disease (like low thyroxine levels) or an effect that envisages the definitive outcome (like the measurement of diuresis for improving heart failure systems).
Biomarkers are beneficial in the identification of identifying neurological conditions at an early stage, offer a way for homogeneous disease classification, and to prolong knowledge-base about the essential disease pathogenesis.
North America contributed to the largest share of the biomarker market in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence target conditions, and the enactment of numerous initiatives for raising awareness about various diseases in the region.
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For the purpose of this report, Reports and Data has segmented into the Global Biomarkers Market on the basis of product, type, application, disease indication, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Consumables
Software
Services
Type Outlook (Revenue, USD Billion; 2017-2027)
Efficacy Biomarkers
Surrogate Biomarkers
Predictive Biomarkers
Prognostic Biomarkers
Pharmacodynamic Biomarkers
Safety Biomarkers
Validation Biomarkers
Application Outlook (Revenue, USD Billion; 2017-2027)
Drug Discovery and Development
Diagnostic
Disease Risk Assessment
Personalized Medicine
Others
Disease Indication Outlook (Revenue, USD Billion; 2017-2027)
Cardiovascular Disease
Cancer
Immunological Disorders
Neurological Disorders
Other Diseases
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
U.S
Canada
Europe
Germany
U.K
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Rest of MEA
Latin America
Brazil
Rest of LATAM
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Biomarkers Market Segmentation & Impact Analysis
4.1. Biomarkers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing R&D Funding for Pharma and Biotech Companies
4.2.2.2. High Prevalence of Cancer
4.2.2.3. New Initiatives for Biomarker Research
4.2.3. Market restraints analysis
4.2.3.1. High Capital Investments and Low Cost-Benefit Ratio
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…….
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