Biomarkers Market Overview, Future Trends, Growth Factors, Historical Analysis Forecast To 2027
Global Biomarkers Market: Information By Product (Consumables, Services, Software), By Type (Safety Biomarkers, Validation Biomarkers, Efficacy Biomarkers), By Application (Diagnostics, Personalized Medicine, Drug Discovery and Development, Disease Risk Assessment) and By Disease Indication (Cancer, Neurological Disorders, Cardiovascular Disorders, Immunological Disorders, Others) - Forecast till 2027
Market Overview
Market Research Future (MRFR) studied the worldwide biomarkers market 2020 across the analysis period (between 2017 and 2027). MRFR study suggests that the biomarkers market is anticipated to surge at 10.28% CAGR throughout the study period. By 2027, the biomarker market is expected to value at USD 4,582.8 Mn by 2027. The gradual surge in cases of chronic and life-threatening ailments is creating intense need for detailed diagnostic procedures. The upscaling demand for biomarkers as a potential diagnostic solution and rise in number of suppliers, producers, and distributors of biomarkers are observe to generate considerable revenue. These causes are expected to favor the biomarker market expansion on a global scale. High capital investment research biomarkers research can hinder the market growth. The application of artificial intelligence (AI) in the biomarker technology is expected to open several growth opportunities for stakeholders to invest in promising innovations.
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Segment Overview
The biomarkers market’s segment assessment is based on type, product, disease indication, and application
The product-type based segments of the biomarker market are consumables, services, and software. The consumables segment is expected to secure the largest share of the worldwide biomarker market.
The type-based segments of the biomarkers market are Efficacy Biomarkers, Safety Biomarker, and Validation Biomarkers. The sub-segments of the efficacy biomarkers are predictive biomarkers, pharmacodynamic biomarkers, surrogate biomarkers, and prognostic biomarkers. The safety biomarkers segment is likely to acquire considerable revenue for the global market as it is expected to surge at maximum CAGR. The adoption of technological developments in multiplex biomarkers platform and sequence profiling tools can contribute to the expansion of the market in the near future. The rise in demand to interpret DNA sequences, nucleic acids, and proteins and increasing need for testing are creating the demand for biomarkers, which, in turn, is likely to bolster the market rise.
The application-based segments of the biomarkers market are Diagnostics biomarkers, Drug Discovery and Development, Personalized Medicine, and Disease Risk Assessment. The diagnostics segment is expected to rise at 10.63% CAGR in the estimated period. The increase in incidences of lasting diseases is creating the need for clinical trials, precise therapy, and diagnosis push. Companies are focusing on effective solutions to deliver intensive care to patients. These causes are expected to contribute to the growth of the biomarkers market in the forthcoming period.
The disease indication-based segments of the biomarkers market are immunological disorders, cancer, neurological disorders, and cardiovascular disorders among others. The increasing cases of neurological disorders is creating the need for biomarkers MRFR study suggests that the biomarkers segment is expected to surge at 10.69% CAGR in the study period.
Regional Analysis
In North America, the biomarkers market is likely to rise at high pace in the years to come. The United States is expected to earn decent revenue for the regional biomarkers market, following Canada. The availability of advanced diagnostic technology and government encouraging R&D due to increasing prevalence of cancer can favor North America market.
In Europe, the biomarkers market is likely to expand at high pace due to good governance as introduction of effective medical insurance plans are observed in the region. The presence of large target base due to issues with lifestyle-associated conditions is likely to contribute to the growth of the EU biomarkers market in the years ahead. The increasing adoption of biomarker-dependent diagnostic tests can bolster the regional market.
APAC biomarker market is expected to exhibit high-pace expansion. The ongoing diagnostics trends in the Asia Pacific region, such as increasing establishment of contract research organizations and drop in cost of clinical trials are causes that are expected to bolster the market expansion through the review tenure. The surge in deployment of progressive medical imaging systems can benefit the biomarkers market in the years ahead.
In MEA region, the biomarkers market is likely to surge at a steady pace. The gradual development in healthcare setup and is expected to add to the regional market rise. However, lack of expertise and issues investment are other causes that are likely to hinder the market upsurge.
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Key Players
Merck KGaA, Abbott Laboratories, Bio-Rad Laboratories, EKF Diagnostics, Meso Scale Diagnostics, LLC, Enzo Biochem Inc., Signosis, and PerkinElmer Inc., Thermo Fisher Scientific Inc., Qiagen N.V., PerkinElmer Inc, and F. Hoffmann-La Roche Ltd are some reputed players in the global biomarkers market that are listed by MRFR. The report details insights that are beneficial for investors.
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