The global market is expected to reach USD 74.51 Billion in 2022 from USD 46.97 Billion in 2017, at a rate (CAGR) of 9.7% during the forecast period.
Northbrook, IL -- (SBWIRE) -- 05/09/2018 -- According to a new market research report "Biomarker Technologies Market by Profiling Technology (Chromatography, NGS, PCR, Mass Spectrometry, Immunoassay, Liquid Biopsy (ddPCR, DHPLC)), Research Area (Proteomics, Lipidomics), Application (Biomarker Validation, Biomarker Discovery) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 74.51 Billion in 2022 from USD 46.97 Billion in 2017, at a rate (CAGR) of 9.7% during the forecast period.
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The growth of Biomarker Technologies Market is supported by increasing healthcare expenditure, rising availability of R&D funding and pace of research, and the utility of biomarkers in diagnosis.
The consumables segment accounted for the largest share of the global Biomarker Technologies Market in 2017
By product type, the Biomarker Technologies Market is classified into consumables, instruments, services, and software/informatics. In 2017, the consumables segment was expected to account for the largest share of the market due to their larger sales volume as compared to instruments. The consumables market is further segmented into reagents & kits and chromatography columns. The reagent & kits segment accounted for the largest share of the consumables market in 2017.
The clinical diagnostics segment is expected to grow at the highest CAGR in the Biomarker Technologies Market for liquid biopsy during the forecast period.
By application, the Biomarker Technologies Market for liquid biopsy is divided into clinical diagnostics, research, and drug discovery and development. The clinical diagnostics application segment is expected to grow at the highest CAGR during the forecast period. This positive growth is due to the advantages of liquid biopsy, such as its minimally invasive nature and time & cost savings incurred during use.
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The mass spectrometry segment is projected to grow at the highest CAGR.
By type of profiling technology, the Biomarker Technologies Market is divided into immunoassay, PCR, imaging technology, mass spectrometry, NGS, chromatography, cytogenetics, and other technologies. MS is projected to grow at the highest CAGR during the forecast period. It provides rapid and sensitive qualitative and quantitative analysis of biomolecules (proteins, peptides, oligosaccharides, lipids, DNA, and RNA), drugs, and metabolites. Apart from research applications, currently, the clinical applications of MS continue to expand.
Asia Pacific is expected to grow at the highest CAGR in the Biomarker Technologies Market during the forecast period.
The high growth of the Asia Pacific market is attributed to the rising incidence of cancer, growth in geriatric population, and support from private and public organizations for biomarker research.
The key players in the Biomarker Technologies Market are Thermo Fisher Scientific (US), Agilent Technologies (US), Roche (Switzerland), Danaher Corporation (US), Waters Corporation (US), Shimadzu Corporation (Japan), and Bio-Rad Laboratories (US).
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