Number of pages: 100-120 | Report Format: PDF | Published date: 01 August, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
Biomarkers are biological measures of a biological state. By definition, a biomarker is "a characteristic that is objectively measured and evaluated as an indicator of normal biological processes, pathogenic processes or pharmacological responses to a therapeutic intervention. "Biomarkers are used to perform clinical assessment such as blood pressure or cholesterol level and are used to monitor & predict health states in individuals or across populations so that appropriate therapeutic intervention can be planned.
The global biomarkers market is mainly driven by rising incidences of chronic diseases, increasing R&D activities, growing initiatives for biomarker research, and increasing diagnostic applications of biomarkers. Rising investments & collaborations to boost the discovery and development of biomarkers are also likely to play a pivotal role in driving the growth of the market globally. However, high costs involved in biomarker validation, stringent government regulation, and ethical problems are likely to restrain the market growth to a certain extent.
The global biomarkers market has been analyzed from five perspectives: Offering, Type, Application, Disease Indication, and Region.
Biomarkers Market by Offering
Based on offering, the biomarkers market has been segmented into consumables, services, and software. The consumables segment dominated the market with the largest share owing to the increasing use of reagent kits & assays for biomarker testing, rising application of biomarker consumables in personalized medicine, and launch of singleplex platforms, multiplex platforms, & automated ELISA systems that require assay kits.
Biomarkers Market by Type
Based on type, the biomarkers market has been segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. The safety biomarkers dominated the market with the largest share owing to their wide application in the drug discovery and development sector. It helps in reducing the cost and time required for safety evaluation at the preclinical stage as well as drug development.
Biomarkers Market by Application
Based on application, the biomarkers market has been segmented into diagnostics, drug discovery and development, personalized medicine, and others (disease risk assessment, forensic application, etc.). The personalized medicine segment is expected to be the fastest-growing application segment during the forecast period. The growth of the segment can be attributed to growing consumer awareness and consequently increasing demand for customized treatment plans for chronic diseases.
Biomarkers Market by Disease Indication
Based on disease indication, the biomarkers market has been segmented into cancer, cardiovascular diseases, neurological diseases, immunological diseases, and others (infectious diseases, respiratory diseases, etc.). The cancer segment dominated the biomarkers market with the largest share owing to the rising prevalence of the different types of cancers and growing research & development funding from various government & private organizations. Furthermore, the availability of several cancer biomarkers for the detection of different kinds of cancer is also expected to propel the growth of the segment in the market.
Biomarkers Market by Region
Based on region, the global biomarkers market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the biomarkers market with the largest share, followed by the Asia Pacific. The large share of North America in the global market can largely be attributed to the growing prevalence of cancer, the presence of a large number of pharmaceutical companies, increasing R&D activities, and higher adoption rate of biomarker technologies in personalized medicine and drug discovery & development.
Some of the prominent players operating in the biomarkers market includes:-