Biomarker Technologies Market Information: By Product (Consumables, Instruments), by Profiling Technology (PCR, Imaging Technology, NGS), by Disease Application (Cancer, Infectious Disease), Research Area (Genomics, Proteomics) – Global Forecast Till 2023
Market Highlights
The biomarker technologies market is expected to reach USD 78 Billion by 2023 at a CAGR of 9% during the forecast period. The term biomarker is usually used to define a measurable indicator of some biological state or condition. It is also referred to a substance whose detection indicates the presence of a living organism. Biomarkers are used for diagnosis and clinical decision making in cancer, diabetes, and cardiovascular and neurological diseases. The market for biomarker technologies is growing worldwide due to drivers such as increased occurrence of above diseases, advances in the area of medical technologies, governmental initiatives supporting research in the area of biomarker technologies, and increasing uses of biomarkers to increase the accuracy of disease diagnosis. However, high capital investments required for the discovery, development of biomarkers, and the high cost of biomarkers are restraining the growth of the biomarker technologies market.
Regional Analysis
Americas has the largest market share in the biomarker technologies market. The increasing prevalence of cancer, cardiovascular diseases, neurological as well as autoimmune diseases, and rising geriatric population are likely to enhance the growth of the biomarker technologies market. For instance, the National Cancer Institute (NCI) had stated that 1,666,540 new cases of cancer were reported during 2014 in the United States. Thus, this increasing patient pool will enhance the market growth during the forecast period. Additionally, factors such as increasing government initiatives and funding for research and development in advanced medical treatment options, and availability of favorable reimbursement policies are likely to propel the growth of the biomarker technologies market in the American region. Furthermore, according to CMS (Centers for Medicare and Medicaid Services) the U.S. health care spending increased by 4.3 percent to reach USD 3.3 trillion per person in 2016. Thus, increasing per capita income of individuals as well as rising healthcare spending will aid up the market growth in Americas.
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Europe is the second largest market leader and holds a healthy share in the global biomarker technologies market. The European market is expected to exhibit a sturdy growth rate during the forecast period owing to the availability of advanced treatment facilities and established healthcare infrastructure, along with the growing need for efficient and accurate diagnosis. Furthermore, according to the Cancer Research U.K., there were around 9, 921 cases of cancer diagnosed in 2015. The increasing occurrence of cancer is expected to have a positive impact on the biomarker technologies market due to its wide usage in cancer. This impact will enhance the biomarker technologies market in Europe.
Asia Pacific is expected to be the fastest emerging market. Factors such as the increasing prevalence of chronic diseases are the major driver for the market growth. For instance, in accordance with the International Diabetes Federation, nearly 382 million people had diabetes in 2013 worldwide. This is expected to reach around 500 million by the end of 2035. China and India are the first and second most affected countries with diabetes. This rising number of diabetic patients can lead to the increasing patient number with cardiovascular diseases. So, these countries are expected to be the fastest growing regions due to the increasing patient pool, raising awareness about health, and availability of new treatment methods.
The Middle East and Africa is expected to witness a limited growth due to limited access to healthcare resources and rising healthcare cost. In the Middle East, the growth of the market is driven by Saudi Arabia and the United Arab Emirates due to increasing research and development for newer technologies and rising healthcare infrastructure.
Segmentation
The global biomarker technologies market is segmented on the basis of product type, profiling technology, disease application, and research areas. Considering product type, the market is segmented into consumables, instruments, services, and software/informatics.
By profiling technology, the market is segmented into immunoassay, PCR, imaging technology, mass spectrometry, NGS, chromatography, cytogenetics, and other technologies. Based on immunoassay, the market is again segmented into ELISA, western blot, and protein microarray.
With reference to disease application, the market is segmented into cancer, infectious disease, autoimmune diseases, neurological, cardiovascular disorders, and other disorders.
On account of research areas, the market is segmented into Genomics, Proteomics, Metabolomics, and other research areas. Metabolomics is further segmented into lipidomic and others.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Key Players
Market Research Future (MRFR) recognizes the following companies as the key players in the biomarker technologies market. Some of the players are Abbott Laboratories, Agilent Technologies (U.S.), Thermo Fisher Scientific (U.S.), Roche (Switzerland), Waters Corporation (U.S.), Danaher Corporation (U.S.), Shimadzu Corporation (Japan), Siemens Healthcare, and Bio-Rad Laboratories (U.S.).
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Biomarker Technologies Market InsightsMarket Research Future has announced its new research report on the global biomarker technologies stating that the market is probable to rise at a CAGR of 9% till the year 2023.
In medicine, a biomarker traces to examine proper functioning of any organ, whereas in cell biology, a biomarker is used for the detection of cellular defects and isolation of a cell type.
Here, the role of biomarkers in various therapeutic areas particularly cancer, cardiovascular diseases and disorders of the central nervous system, is described in well version.
Biomarkers, thus, facilitates the combination of therapeutics with diagnostics and plays an important role in the development of personalized medicine.
Nevertheless, the requirement of high capital investments for the discovery, development, and validation of biomarkers are somehow restraining the growth of the biomarker technologies market.Also, on the flip side, factor of high cost of biomarkers are restricting the growth of the biomarker technologies market.Market SegmentationAccording to MRFR, the global biomarker technologies market has been segmented based on product type, profiling technology, disease application, and research areas.By the product type, the market is segmented into consumables, instruments, services, and software/informatics.By profiling technology type, the market is segmented into immunoassay, PCR, imaging technology, mass spectrometry, NGS, chromatography, cytogenetics, and other technologies.
Metabolomics is further segmented into lipidomic and others.Regional OutlookOn a geographical note, the global biomarker technologies market has covered main regions of Americas, Europe, Asia Pacific, and the Middle East and Africa.
The new research projects that, the Global Biomarker Technologies Market size will grow from in 2017 to by 2023, at an estimated CAGR.
The base year considered for the study is 2017, and the Biomarker Technologies size is projected from 2018 to 2023.Request Sample PDF @ http://www.orbisresearch.com/contacts/request-sample/2285111Biomarker Technologies Market is strongly guided by following key Players:Biomarker TechnologiesBio-Rad LaboratoriesAdvanced Molecular VisionABT Molecular ImagingBanyan BiomarkersBG MedicineResponse GeneticsVermillionPacific BiomarkersThe report on ‘Biomarker Technologies Market’ is a comprehensive collection of all the market related information required for analyzing and understanding the ‘Biomarker Technologies Market’.
It provides readily available research reports and also cost-effective customized research conducted by their team of experts.By Profiling Technology, Biomarker Technologies Market splits in to following;Chromatography,NGS,PCR,Mass Spectrometry,Immunoassay,Liquid Biopsy (ddPCR, DHPLC)This report on ‘Biomarker Technologies Market’ also gives an analysis of the market segments based on applications, types and key players.
It consists of an elaborate chapter on the competitors dwelling in the ‘Biomarker Technologies Market’.
All this information gives a better understanding of how the ‘Biomarker Technologies Market’ has evolved so far.
Every market research study is based on a methodology which helps segment out the market in a way where every aspect is focused in detail.
