Biomarkers market to gain impetus as chronic disease incidence continues to rise
Biomarkers are defined as biological measures of a biological state. It is an indicator of normal biological processes, pharmacological responses or pathogenic processes for therapeutic intervention.
Biomarkers are clinical measures for assessment such as blood pressure or cholesterol level and help in monitoring and predicting health status in individuals as well as in populations which promotes planning of appropriate therapeutic intervention. Biomarkers are used to predict serious illnesses such as diabetes and cardiovascular disease. Each individual biomarker indicates whether there is a disease or health state and can be combined to provide a detailed picture of how healthy a person is and whether or not a diagnosis needs to be made. Biomarkers have proved to be especially helpful in cancer research as certain DNA or RNA markers may therefore help in the detection and treatment of specific cancers.
As the incidence of diabetes, cardiovascular diseases, cancer and other such disorders continue to rise around the world, the Biomarkers Market Size will register considerable expansion and is anticipated to record a CAGR of 13.5% over 2019-2025.
Some of the giants operating in the biomarkers market include Qiagen N.V., Perkinelmer, Inc., Merck Millipore, Bio-Rad Laboratories, Inc., Enzo Biochem, Inc., EKF Diagnostics Holdings, Inc., Meso Scale Diagnostics, LLC, Biosims Technologies Sas, Cisbio Bioassays, and Signosis, Inc.
The biomarkers market has been divided into product, type, application, and disease indication.
On the basis of product, the market has been classified into consumables, services, and software.
By type, the biomarkers market has been divided into safety biomarkers, efficacy biomarkers, and validation biomarkers.
On the basis of application, biomarkers market has been classified into diagnostics, personalized medicine, drug discovery and development, disease risk assessment, and other applications.
On the basis of disease indication, biomarkers market has been segmented into cardiovascular disorders, cancer, immunological disorders, neurological disorders, and other diseases.
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Geographically, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas dominated the global biomarkers market owing to the increasing R&D funding for pharmaceutical and biotech companies, increasing prevalence of cancer, and increasing initiatives by organizations to promote the use of biomarkers. For instance, the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium is a public–private partnership that aims to facilitate drug development with biomarkers across a range of therapeutic areas. Ultimately, the goals of the Biomarkers Consortium are to accelerate the development of new medicines, inform regulatory decision making, and improve patient care.
Europe held the second largest share in the biomarkers market, a fact that can attributed to the increasing health problems in the region and rising geriatric population. Additionally, rising healthcare expenditure is driving market growth. For instance, the World Health Organization estimates cancer to be the second most prominent cause of death in Europe. High expenditure on cancer and rising morbidity due to cancer are driving the growth of the market.
Asia-Pacific is anticipated to witness rapid growth in the biomarkers market. The market is expected to register expansion owing to the expanding population and rising demand for technologically advanced treatments.
The biomarkers market in the Middle East and Africa holds a low share due to low per capita income, improvised healthcare facilities, and lack of funding for technologically advanced treatment methods. However, the market is expected to register growth due to the increasing number of hospitals and rising demand for the products in the Middle East.