Category : Healthcare and Pharmaceuticals | Published at : April-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for biomarker technologies is expected to grow at a CAGR of around 12.7% from 2021 to 2028 and expected to reach the market value of around US$ 129.5 Bn by 2028.
The biomarker is a measurable indicator that is used to indicate exposure, effect, susceptibility, or clinical disease in a biological system. This technology provides a dynamic and powerful approach to understanding neurological disease, along with the applications in observational and analytic epidemiology, screening and diagnosis, randomized clinical trials, and prognosis. Moreover, it defines and measures the alterations in the constituents of tissues or body fluids, as well as helps in exploring information about the underlying pathogenesis of the disease.
Market Dynamics
The increasing healthcare expenditure along with the R&D funding in pharma and biotech companies is primarily driving the market value. The increasing number of Clinical Research Organization (CROs) and the low cost of clinical trials in developing economies are supporting the market value. The high prevalence of chronic diseases like cancer, increasing utility of biomarkers in the diagnostic process, and increasing applications of biomarkers in personalized medicine are some other important factors accelerating the market value. Furthermore, the high potential of the emerging economies is projected to provide potential opportunities over the period.
On the other hand, high capital investments and low cost-benefit ratio, unfavorable reimbursement policies, and technical issues related to sample collection and storage are some of the factors expected to hamper the growth over the forecast period.
Covid-19 Impact on Biomarker Technologies Market
The Covid-19 has impacted the growth of almost every industrial sector, but in the case of biomarker technology market growth has not experienced a major decrease. As biomarker technology is helping in the development of therapeutics for serious illness and the government and private entities are also investing in the sector in order to develop advance and convenient solutions.
Segment Instance of Global Biomarker Technologies Market
Consumables segment registers maximum share in the market
By product, the consumables segment accounted for the major share in 2020. The consumables such as reagents & kits and chromatography columns play an important role in the global biomarker technologies market. The segment is also projected to maintain its dominance over the estimated period from 2020 to 2028.
North America accounted for the major share in terms of value
In 2020, North America dominated the global market with a major share, and the region is also projected to maintain its dominance over the estimated period from 2021 to 2028. The well-established healthcare infrastructure and easy accessibility of advanced technologies to the consumers are the regional markets are further supporting the market value. The rising prevalence of chronic diseases coupled with the increasing geriatric population is accelerating the regional market value. The presence of a large number of major players in the US region is additionally accelerating the regional market value. Furthermore, the Asia Pacific region is projected to exhibit the fastest growth over the forecast timeframe from 2021 to 2028. The emerging economies of the region including China and India are majorly supporting the growth over the estimated period.
Key Market Players
The players profiled in the report include Agilent Technologies (US), Bio-Rad Laboratories (US), Danaher Corporation (US), F. Hoffmann-La Roche AG, Illumina, Inc., LI-COR, Inc., Merck KGAA, PerkinElmer Inc., QIAGEN, Roche (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), and Waters Corporation (US).
Market Segmentation
Market By Test Type
Solid Biopsy
Liquid Biopsy
Market By Product
Consumables
Instruments
Services
Software/Informatics
Market By Technology
ddPCR
NGS
Immunoassay
Mass Spectrometry
DHPLC
Other Technologies
Market By Application
Drug Discovery
Diagnostics
Personalized Medicine
Market By Indication
Cancer
Infectious Diseases
Autoimmune Disorders
Cardiovascular Disorders
Others
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
The biomarker is a measurable indicator that is used to indicate exposure, effect, susceptibility, or clinical disease in a biological system.
The market for biomarker technologies is expected to reach the market value of around US$ 129.5 Bn by 2028.
The market for biomarker technologies is expected to grow at a CAGR of around 12.7% from 2021 to 2028.
Consumables is the leading segment by product in the biomarker technologies market
The increasing healthcare expenditure along with the R&D funding, increasing number of Clinical Research Organization (CROs) and low cost of clinical trials in developing economies, high prevalence of chronic diseases like cancer, increasing utility of biomarkers in diagnostic process, and increasing applications of biomarkers in personalized medicine are some of the factors driving the market value.
Agilent Technologies (US), Bio-Rad Laboratories (US), Danaher Corporation (US), F. Hoffmann-La Roche AG, Illumina, Inc., LI-COR, Inc., Merck KGAA, PerkinElmer Inc., QIAGEN, Roche (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), and Waters Corporation (US) are some of the prominent players in the market.
North America region held the highest market share in the biomarker technologies market
Asia Pacific region is expected to be the fastest growing market over the forecast period.
