Biomarker technologies market Trends
The Biomarker technologies market Trends 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.
Major 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.).
The global biomarker technology 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 genomic biomarkers, 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.
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.
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.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 646 845 9312