Market Research Future recently published Biomarker Tests Market Research Report – Global Forecast till 2025, Concentrates On Restraints, Reimbursement Policies, Technological Advancements, competitive outlook
Biomarker Tests Market Overview
A biomarker or biological marker is a metric for understanding the behavior of a cell. Biomarker tests are preventive measures for the diagnosis of chronic diseases at an early stage. For instance, high levels of cholesterol can indicate the possibility of a heart attack or the abnormal growth of cells can signify the presence of cancer. Biomarkers are used as endpoints in a clinical trial to ensure its relevant outcome. The global biomarker test market report by Market Research Future (MRFR) contains drivers, challenges, trends, and opportunities for the period of 2019 to 2025 (forecast period).
Biomarker Test Market Analysis
The global biomarker test market size is projected to touch USD 24,259 million by 2025. It stood at a value of USD 9,375 million in 2018. The market is touted to register a CAGR of 14.6% over the forecast period.
Inclination of patients towards home healthcare and self-diagnosis, high demand for biological markers in next-generation sequencing technologies, and rising prevalence of targeted therapies are factors expected to drive to market growth. Technological breakthroughs in diagnostic methods and emergence of personalized medicine can open up new avenues of growth. Biomarker tests have been developed for the diagnosis of infectious diseases, cardiovascular diseases, and cancer.
Reports by the National Institute of Environmental Health Sciences (NIEHS) stating the identification and validation of biomarkers, classification of these compounds by specific diseases, and discovery of patients showing signs of diseases when exposed to certain environments are likely to facilitate market growth. Rising prevalence of genetic disorders and development of tests to support clinical decision making can augur well for the global biomarker test market.
But lack of awareness of applications of biomarkers, difficulties in their implementation, and a stringent regulatory framework are factors that can restrain the global biomarker test growth.
Biomarker Tests Market Segmentation
The global biomarker tests market has been segmented into application and end user.
Based on application, the global market is segmented into central nervous system, cancer, cardiovascular, infectious diseases, and others. The cancer segment dominated the market in 2018 due to the growing cases of cancer, the increasing demand for rapid and precise diagnostic tools, and awareness of personalized medicine. According to the World Health Organization (WHO), in 2018, cancer was the second-leading cause of death worldwide. This can trigger the need for cancer biomarker tests which can let patients take preventive measures.
Based on end user, the global market caters to clinical laboratories, pharma & biotech companies, healthcare IT/big data companies, and diagnostic tool companies.
Biomarker Tests Market Regional Analysis
Based on region, the global biomarker tests market is segmented into North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America held the lion’s share of the market in 2018 due to higher prevalence of diseases and efforts taken at research and development. Presence of major pharmaceutical majors such as Quest Diagnostics, Abbott, and Thermo Fisher Scientific, Inc., that can ensure a constant steady of demand-supply to customers or end-users can fuel the regional biomarker test growth.
The APAC biomarker test market can amass significant revenues due to increasing incidence of infectious diseases and increasing investments by research and development companies. In addition, the low cost of clinical trials as compared to developed countries can drive the investment rate by market players. Increasing collaborations of universities with pharmaceutical companies is likely to bode well for the market.
Biomarker Tests Market Competition Outlook
GlaxoSmithKline plc, GE Healthcare, Pfizer Inc., Novartis AG, Medtronic plc, F. Hoffmann-La Roche AG, and Quest Diagnostics are prime players operating in the global biomarker test market.
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Biomarker Tests Industry News
A discovery of a biomarker able to predict childhood obesity at an early age in pre-school Hispanic children. It was detected at CpG dinucleotides by the differential methylation in saliva. The prediction of childhood obesity can be used prevent the onset of type 2 diabetes, cancer, and high blood pressure.