Market Research Future recently published Biomarker Tests Market Research Report - Global Forecast till 2025, Concentrates On Restraints, Reimbursement Policies, Technological Advancements, competitive outlook
Biomarker Tests Market Overview
A biomarker or biological marker is a metric for understanding the behavior of a cell. Biomarker tests are preventive measures for the diagnosis of chronic diseases at an early stage. For instance, high levels of cholesterol can indicate the possibility of a heart attack or the abnormal growth of cells can signify the presence of cancer. Biomarkers are used as endpoints in a clinical trial to ensure its relevant outcome. The global biomarker test market report by Market Research Future (MRFR) contains drivers, challenges, trends, and opportunities for the period of 2019 to 2025 (forecast period).
Biomarker Test Market Analysis
The global biomarker test market size is projected to touch USD 24,259 million by 2025. It stood at a value of USD 9,375 million in 2018. The market is touted to register a CAGR of 14.6% over the forecast period.
Inclination of patients towards home healthcare and self-diagnosis, high demand for biological markers in next-generation sequencing technologies, and rising prevalence of targeted therapies are factors expected to drive to market growth. Technological breakthroughs in diagnostic methods and emergence of personalized medicine can open up new avenues of growth. Biomarker tests have been developed for the diagnosis of infectious diseases, cardiovascular diseases, and cancer.
Reports by the National Institute of Environmental Health Sciences (NIEHS) stating the identification and validation of biomarkers, classification of these compounds by specific diseases, and discovery of patients showing signs of diseases when exposed to certain environments are likely to facilitate market growth. Rising prevalence of genetic disorders and development of tests to support clinical decision making can augur well for the global biomarker test market.
But lack of awareness of applications of biomarkers, difficulties in their implementation, and a stringent regulatory framework are factors that can restrain the global biomarker test growth.
Biomarker Tests Market Segmentation
The global biomarker tests market has been segmented into application and end user.
Based on application, the global market is segmented into central nervous system, cancer, cardiovascular, infectious diseases, and others. The cancer segment dominated the market in 2018 due to the growing cases of cancer, the increasing demand for rapid and precise diagnostic tools, and awareness of personalized medicine. According to the World Health Organization (WHO), in 2018, cancer was the second-leading cause of death worldwide. This can trigger the need for cancer biomarker tests which can let patients take preventive measures.
Based on end user, the global market caters to clinical laboratories, pharma & biotech companies, healthcare IT/big data companies, and diagnostic tool companies.
Biomarker Tests Market Regional Analysis
Based on region, the global biomarker tests market is segmented into North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America held the lion’s share of the market in 2018 due to higher prevalence of diseases and efforts taken at research and development. Presence of major pharmaceutical majors such as Quest Diagnostics, Abbott, and Thermo Fisher Scientific, Inc., that can ensure a constant steady of demand-supply to customers or end-users can fuel the regional biomarker test growth.
The APAC biomarker test market can amass significant revenues due to increasing incidence of infectious diseases and increasing investments by research and development companies. In addition, the low cost of clinical trials as compared to developed countries can drive the investment rate by market players. Increasing collaborations of universities with pharmaceutical companies is likely to bode well for the market.
Biomarker Tests Market Competition Outlook
GlaxoSmithKline plc, GE Healthcare, Pfizer Inc., Novartis AG, Medtronic plc, F. Hoffmann-La Roche AG, and Quest Diagnostics are prime players operating in the global biomarker test market.
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Biomarker Tests Industry News
A discovery of a biomarker able to predict childhood obesity at an early age in pre-school Hispanic children. It was detected at CpG dinucleotides by the differential methylation in saliva. The prediction of childhood obesity can be used prevent the onset of type 2 diabetes, cancer, and high blood pressure.
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Nov 10 2020: The global Blockchain Technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification.The market is expected to grow rapidly owing to numerous benefits that it provides, such as eradication of the requirement of a financial institution to validate transactions, reduce duplicative recordkeeping, eliminate reconciliation, minimize error rates, and facilitate faster settlement.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/blockchain-technology-market/request-sampleThe global blockchain technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.The increasing demand for this technology across financial services, consumer or industrial products, technology, media , healthcare, transportation, and public sector is largely responsible for driving the market toward growth.
The major drivers include the growing interest of the BFSI sector and increasing merchants accepting cryptocurrencies among others.
This growth can be attributed to growing tendency of institutions and government to inculcate open and efficient transactions.• The application & solution segment is anticipated to grow at the highest CAGR of 71.2% from 2019 to 2025.
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