Fast Market Research announces the availability of the new Markets and Markets report, "Biomarkers Market - Global Forecast to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 03/23/2017 -- Biomarkers Market by Product (Consumables, Service), Type (Safety, Efficacy, Validation), Disease Indication (Cancer, Cardiovascular Disorders), Application (Diagnostics Development, Drug Discovery and Development, Disease-Risk) - Global Forecast to 2021
The global biomarkers market is estimated to reach USD 53.34 billion by 2021 from USD 27.95 billion in 2016, at a CAGR of 13.8% from 2016 to 2021.
Increasing diagnostic applications of biomarkers, increasing R&D funding for pharma and biotech companies, increasing number of CROs and low cost of clinical trials in developing countries, the high prevalence of cancer, and new initiatives for biomarker research are the major factors driving the growth of the global biomarkers market. In recent years, the Asian biomarkers market has witnessed significant growth due to the increasing use of biomarkers for diagnostic purposes, increasing incidence of chronic diseases, and increasing outsourcing of pharmaceutical R&D activities to outsourcing partners in Asia.
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In this report, the global biomarkers market is segmented on the basis of product, type, application, disease indication, and region. On the basis of product, the biomarkers market is segmented into consumables, services, and software. The consumables segment is estimated to account for the largest share of the global biomarkers market in 2016. The large share can primarily be attributed to the lower price of consumables than that of screening and automation instruments.
On the basis of type, the biomarkers market is segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. The efficacy biomarkers segment if further segmented into predictive biomarkers, surrogate biomarkers, pharmacodynamic biomarkers, and prognostic biomarkers. The safety biomarkers segment is estimated to account for the largest share in 2016. This is due to their widespread applications in drug discovery and development.
On the basis of application, the biomarkers market is categorized into diagnostics, drug discovery & development, personalized medicine, disease risk assessment, and other applications (DNA fingerprinting, ecotoxicology, and forensics). The diagnostics segment is estimated to account for the largest share of the market in 2016. Factors such as increasing prevalence of cancer, technologically developed biomarker products, individualized treatments for cancer, and the need for early-stage cancer diagnosis are driving the growth of this segment in the biomarkers market.
On the basis of disease indication, the biomarkers market is categorized into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others (renal disorders, urinal diseases, diabetes, and tuberculosis). The cancer segment is estimated to account for the largest share of the biomarkers market in 2016. This is primarily attributed to the increasing prevalence of cancer. The use of cancer biomarkers provides great opportunities for improving the management of cancer patients by enhancing detection and efficacy of treatment.
New product launches was the dominant strategy adopted by key industry participants to increase their market share and cater to unmet needs.
From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and subsegments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and threats), winning imperatives, and burning issues. The report also offers market sizes and data on the growth of various segments in the industry. It focuses on emerging and high-growth segments, high-growth regions, and initiatives of governments. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the biomarkers market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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