Market Research Report
Biomarkers Market Size, Share & Trends Analysis Report By Type (Safety, Efficacy, Validation), By Application (Diagnostic, Drug Development, Personalized Medicine), By Disease, And Segment Forecasts, 2019 - 2026
|Published by||Grand View Research, Inc.||Product code||823401|
|Published||Content info||103 Pages
Delivery time: 2-3 business days
|Biomarkers Market Size, Share & Trends Analysis Report By Type (Safety, Efficacy, Validation), By Application (Diagnostic, Drug Development, Personalized Medicine), By Disease, And Segment Forecasts, 2019 - 2026|
|Published: April 4, 2019||Content info: 103 Pages||
The global biomarkers market size is expected to reach over USD 118 billion by 2026, according to a new study by Grand View Research Inc. It is projected to expand at a CAGR of 14.2% during the forecast period. Technological advancements, high consumer awareness, and increasing funds for research and development (R&D) activities are collectively propelling the market growth.
Drug discovery was estimated to be one of the highest revenue generating segments of the market. Pharmaceutical companies are undertaking extensive R&D initiatives to develop targeted therapeutics. Coordinated research efforts on biomarker development is a rising trend among commercial R&D organizations, academic research institutions, federal government biomedical regulatory and research agencies, and nonprofitable health foundations.
North America led the biomarker market in 2018, driven by high disease prevalence, proactive governmnet initiatives, and substantial demand for personalized medicines. North America is anticipated to retain its leading position throughout the forecast period. Asia Pacific is expected to witness the fastest regional growth, spearheaded by India.
Some key players operating in the biomarkers market include F. Hoffmann-La Roche Ltd.; Abbott.; Epigenomics AG; Agilent Technologies, Inc.; Johnson & Johnson Services, Inc; Siemens Healthcare Private Limited; Bio-Rad Laboratories, Inc.; Thermo Fisher Scientific, Inc.; and Qiagen. Key players are developing novel kits and therapies or drugs to target population in the areas with high unmet clinical needs.
Safety biomarkers held the largest market share of over 42% in 2018 due to reduction in drug attrition and increasing awareness of routine healthcare checkups
Validation biomarkers is estimated to be one of the fastest growing segments
Personalized medicine is estimated to grow at a CAGR of 15.0% over the forecast period owing to growing consumer awareness
Cancer held the largest market share in 2018, driven by an increase in global prevalence of cancer and the presence of a strong pipeline of drugs
Cardiovascular diseases is projected to be the fastest growing segment throughout the forecast period, supported by sedentary lifestyles and growing obese population.