The global biomarkers market size is expected to reach USD 130.65 Billion in 2028 at a CAGR of 13.6% during the forecast period, according to latest report by Reports and Data. Increasing use of biomarkers to detect early effects of therapeutic response and complications of diseases or therapies, enhance safety and efficacy of drugs, and to assess overall status of the disease or medical condition are some key factors expected to contribute to global biomarkers market revenue growth over the forecast period. In addition, growing focus on personalized medicine, rising prevalence of chronic diseases and subsequent need for robust therapeutics, and progress of molecular biology and genomics are some other key factors expected to drive revenue growth of the market.
Biomarkers are defined as markers of biological processes or states and are widely used in research studies to understand the current status or future risk of diseases. Biomarkers offer an approach for homogenous classification of a disease and risk factors and can reflect the entire spectrum of disease from earliest manifestations to terminal stages. Biomarkers are of two major types – biomarkers of exposure and biomarkers of disease. Biomarkers of exposure are often used for risk prediction, and biomarkers of disease are mostly used for screening and diagnosis.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3706
Over the recent past, rapid progress in molecular biology and laboratory technology have expanded the application scope of biomarkers and contributed to development of approaches that can facilitate the understanding of complex diseases such as neurological disorders. This is expected to further contribute to revenue growth of the market.
Biomarkers have been approved by regulatory agencies such as the U.S. FDA for use as surrogate endpoints in clinical trials and drug development processes. Biomarkers can improve drug development processes and biomedical research, and this has increased their use in phase I and II of clinical trials. This, in turn, is expected to continue to drive market growth. However, difficulties in validation of biomarkers, limitations in their use as surrogate endpoints, and high costs of biomarker testing are some key factors expected to restrain market growth to certain extent over the forecast period.
Some Key Highlights from the Report:
- The consumables segment is expected to account for largest revenue share over the forecast period attributable to increasing use of kits in biomarker testing, rising research activities across the globe, and availability of cost-effective consumables and reagents.
- The efficacy biomarkers segment is expected to account for significantly large revenue share over the forecast period, which can be attributed to rising application of efficacy biomarkers in evaluation of patient outcomes to specific drugs and therapeutics, to establish tolerability and safety of therapeutics, and in anticancer drug development processes.
- The drug discovery and development segment is expected to register considerable revenue growth during the forecast period owing to increasing importance of biomarkers in drug discovery and development. Biomarkers can rapidly predict drug efficacy, increase success rates of drug development programs, and help in determining benefit-risk profiles of therapeutics in development.
- The infectious diseases segment is expected to dominate other disease indication segments in terms of revenue share between 2021 and 2028, owing to rising prevalence of infectious diseases across the globe, increasing application of biomarkers for detecting or ruling out infections, and rising numbers of clinical trials to develop biomarker-based approaches for infectious diseases.
- North America is expected to account for largest revenue share over the forecast period. Growth of this regional market can be attributed to increasing prevalence of cancer and other chronic diseases, rising R&D activities to expand the application scope of biomarkers, advancements in diagnostic technologies, and rising focus on personalized medicine.
Inquiry Before Buying @ https://www.reportsanddata.com/inquiry-before-buying/3706
Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
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.
Biomarkers Market Segmentation:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Consumables
- Software
- Services
Type Outlook (Revenue, USD Billion; 2018-2028)
- Efficacy Biomarkers
- Surrogate Biomarkers
- Predictive Biomarkers
- Prognostic Biomarkers
- Pharmacodynamic Biomarkers
- Safety Biomarkers
- Validation Biomarkers
Application Outlook (Revenue, USD Billion; 2018-2028)
- Drug Discovery and Development
- Diagnostic
- Disease Risk Assessment
- Personalized Medicine
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Biomarkers market over the forecast period?
- What are the major factors driving the growth of the Global Biomarkers Market?
- What are the key challenges impacting the global Biomarkers market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
Request customization on the report @ https://www.reportsanddata.com/request-customization-form/3706
Thank you for reading our report. For more details please connect with us and our team will ensure the report is customized to meet all the needs of clients. The report also offers a comprehensive regional analysis and specific countries can be included in the report according to the requirements.
Explore Latest Trending Research Reports By Reports and Data:
West Syndrome Market @ https://www.biospace.com/article/west-syndrome-market-is-moving-towards-with-tremendous-growth-by-2030/
Tonic-Clonic Seizure Market @ https://www.biospace.com/article/tonic-clonic-seizure-market-analysis-till-2030-biggest-driving-factors-for-industry-growth/
Throat Cancer Market @ https://www.biospace.com/article/throat-cancer-market-size-to-record-a-substantially-cagr-over-2022-2030/
Tardive Dyskinesia Market @ https://www.biospace.com/article/tardive-dyskinesia-market-to-showcase-an-annual-healthy-growth-rate-over-2022-2030/
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
LinkedIn | Twitter | Blogs
Read the innovative blog at https://www.reportsanddata.com/blogs
Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update: https://www.youtube.com/channel/UChLqKTFLm6sVBLEUjnadIhQ/videos