Biomarkers Market Growth Prospects, Trends and Forecast up to 2023

The global market for biomarkers market is gaining traction from a number of factors, including increasing diagnosis applications for companion diagnostics and personalized medicine, rapidly growing number of Cros, reducing cost of clinical trials in various emerging economies, high prevalence of cancer, increasing investment on research and development by biotechnology and pharmaceutical companies, and new initiatives regarding biomarker research. On the other hand, the biomarkers market is facing challenge from high capital investments, low cost-benefit ratio with total investment, technical issues pertaining to sample collection and storage, and poorly suited regulatory and reimbursement systems.

  • Global Biomarkers Market

A biomarker refers to a biological molecule or gene that is used to effectively and accurately evaluate pharmacologic responses, pathogenic procedures, and biological procedures. Also known as a molecular marker or signature molecule, biomarkers are found in blood, other body fluids, and tissue. Extensively used to see the body’s response to a particular treatment for a disease or condition, biomarkers assist medical professionals to take effective clinical decisions and help in diagnosing the health of patients.

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Biomarkers play a pivotal role in disease risk assessment, drug discovery and development, diagnostics development, personalized medicine, and others. Research activities are particularly focused on the development of diagnostics biomarkers for cancer. For example, a new protein array technology developed by researchers from the Arizona State University is expected to detect antibodies targeting proteins in Human Papillomavirus (HPV) subtypes that are highly associated with cancer. Research and development activities hold the potential to define the future outlook of the global biomarkers market.

Some of the prominent players in the global biomarkers market are Agilent Technologies Inc., Bruker Corporation, Abbott Laboratories, Epigenomics AG, DiagnoCure Inc., Celera Corporation, GE Healthcare, and Becton, Dickinson and Company. The leading companies in the market are expected to face stiff competition with the entry of new players in the market and are hence focusing on the changing trends in the market.

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