Biomarkers are used for diagnosis and drug development, as these biomarkers can indicate diseases in the body. Furthermore, biomarkers can be any specific cells, molecules, genes or gene products, enzymes or hormones. Biomarker-based test are precise and rapid, which help in early prediction of susceptibility, prognosis, diagnosis, and treatment of disease. Hence, increasing research and development activities for identifying new biomarkers to diagnose or treat diseases is expected to be major factor growth of the market.
Biomarker are required for personalized medicine as it helps to identify the unique characteristics of the disease and helps to tailor medicine according to the need of patients. Hence, to cater to demand for personalized medicines, pharmaceutical companies are investing in R&D, which is expected to lead to identification of novel biomarkers, thus aiding in growth of the market.
The global biomarkers market is projected to witness significant growth over the forecast period, owing to rapid advancements in technology for development of novel biomarker. For instance, in February 2018, FDA granted marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood test for traumatic brain injury named Banyan BTI. Such innovations, targeting different indications, is expected to drive biomarkers market growth in the near future.
However, investment required for discovering a biomarker is high, due to the cumbersome biomarker validation, and testing process, which hinders growth of the biomarkers market.
Key features of the study:
- This report provides in-depth analysis of the biomarkers market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2017 – 2025, considering 2016 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global biomarkers market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies
- Key companies covered as a part of this study include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, governmental initiatives, technological up-gradation, market expansion and marketing tactics.
- The global biomarkers market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors and suppliers for biomarkers market, research and consulting firms, new entrants and financial analysts.
Browse Research Report At: https://www.coherentmarketinsights.com/market-insight/biomarkers-market-1530