Biomarkers Market Will Grow at CAGR During Forecast Period Global Evaluation by Trends, Proportions, Share, Swot, and Key Developments

 Market Highlights

Global Biomarkers Market is expected to have a market value of USD 64,265.19 Million by 2027. Increasing applications of biomarkers, R&D funding by pharmaceutical and biotechnology companies, rising prevalence of cancer, and other chronic diseases, and new initiatives for biomarker research. Additionally, the rapidly growing population worldwide and increasing product launches by major players are likely to enhance the growth of the global biomarkers market.

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Segment Analysis

Global Biomarkers Market is Segmented Based on Product, Type, Application, and Disease Indication. The biomarkers market, based on product, has been segmented into consumables, services, and software.

The biomarkers market, based on type, has been segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. The efficacy biomarkers are further segmented into predictive biomarkers, surrogate biomarkers, pharmacodynamics biomarkers, and prognostic biomarkers. The global biomarkers market, by application, has been segmented into diagnostics, drug discovery and development, personalized medicine, disease risk assessment, and others.

The global biomarkers market, by disease indication, has been segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others. The segment growth can be attributed to the ability of biomarkers to cover clinical needs from cancer to infectious disease applications.

Regional Analysis

The global biomarkers market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa.

The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market and accounted for the largest share in 2019. The presence of prominent biopharmaceutical companies such as Merck Millipore, Bio-Rad Laboratories, Inc., Illumina, Inc., and Agilent Technologies in the US, facilitates early market initiation and prompt supply chain management. Players headquartered in other regions are also actively involved in the expansion of their facilities in the American countries to capture maximum share in the region.

The biomarkers market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is expected to register the highest CAGR over the forecast period from 2020 to 2027. This is owing to the growing patient population in this region. World Cancer Research Fund Data, 2018 analyzed that the age-standardized rate for all cancers for men and women together was highest in Australia, at 468.0 people per 100,000 population, which was followed by New Zealand at 438.1.

The Middle East & Africa biomarkers market is segmented into two major regions, namely the Middle East and Africa. The growth of the biomarkers market in the Middle East and Africa was considerably low in recent years. In the Middle East, the adoption rate of biomarkers was mainly in developing countries such as South Africa, the UAE, and Saudi Arabia.

Key Players

MRFR recognizes the following companies as the Key Players in the Global Biomarkers Market— Merck KGaA, Bio-Rad Laboratories, Abbott Laboratories, EKF Diagnostics, Enzo Biochem Inc., Meso Scale Diagnostics, LLC, Signosis, and PerkinElmer Inc. Qiagen N.V., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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