Fior Markets launched a study titled “Global Biomarker Technologies Market by Product, Type (Validation Biomarkers, Efficacy biomarkers, Safety biomarkers), Disease, Application, Region” and Global Forecast 2018-2025.
The global biomarker technologies market is expected to grow from USD 28.31 Billion in 2017 to USD 97.3 Billion by 2025 at a CAGR of 16.81% during the forecast period from 2018-2025. Rising adoption of personalized medicine, increasing demand of disease specific biomarkers and rising cases of oncology based disease are some of the key factors and will lead to the growth of market in a couple of years.
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The consumables segment is anticipated to grow with the highest CAGR of 19.39% over the forecast period
Type segment includes consumables, services, and software. The consumables segment is dominating the biological safety cabinet market and is anticipated to grow with the highest CAGR of 19.39% over the forecast period. The lower price of consumables than that of screening and automation instruments are major contributing factors for the growth of the segment.
The safety biomarkers is dominating the segment and was valued USD 11.89 Billion in 2017
Type segment is divided into segments such as safety, efficacy, and validation. The safety biomarkers based segment held the largest market and was valued USD 11.89 Billion in 2017. Increasing demand for safety cabinets during drug development and the need to ensure the safety of laboratory personnel are the key factors to drive the demand of the segment.
The drug discovery is dominating the segment and held the largest market share of 41.07% in 2017
Application segment is divided into segments such as drug discovery, diagnostics and personalized medicine. The drug discovery segment dominated the application segment and held the largest market share of 41.07% in 2017. Pharmaceutical companies extensively use biomarkers to accelerate the development of new drug findings which will lead to the growth of the segment in future.
The oncology is dominating the segment and was valued USD 9.38 Billion in 2017
The disease segment includes oncology, cardiovascular disease, neurological disease, immunological disease and others. The oncology segment dominated the segment and was valued USD 9.38 Billion in 2017 due to the growing burden of cancer across the globe and introduction of companion diagnostic tests for oncology drugs.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated the global biomarker technologies market with USD 12.64 Billion. The presence of a large number of ell-established R&D infrastructure are some of the factors that led to the growth of global biomarker technologies market in this region.
The major players of market include Thermo Fisher Scientific, Agilent Technologies, Roche, Danaher Corporation, Waters Corporation, Shimadzu Corporation, Bio-Rad Laboratories, Qiagen N.V., GE, Abbott Laboratories, Biomérieux SA, Becton, Biomarker Technologies, Inc., Myriad Genetics, Sysmex Corporation, Hologic, Quest Diagnostics, Aushon BioSystem Inc., and others.
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