Industry Background:
The high prevalence of cancer is encouraging research initiatives, driving the growth of the market. Extensive research and technological advancements used for the development of biomarker-based clinical diagnostics are projected to be the key contributors to the market. A rising number of Contract Research Organizations (CROs) is anticipated to further fuel the demand. Biomarkers which are also known as a molecular marker or signature molecule are used to check how the body responds to the treatment of any condition or disease. In simple words, they are used to examine organ functions and other health conditions. They are also used in imaging technology so that they can provide clear imaging of oncology tumors and other problems. They are also used in clinical studies to determine the effect and results of drugs in the early stage.
According to AMA, the market for Biomarker is expected to register a CAGR of 13.6% during the forecast period to 2026. This growth is primarily driven by Increasing diagnostic applications of biomarkers and Increasing R&D Funding for Pharma and Biotech Companies.
Globally, a noticeable market trend is evident Increasing Number of Cros and Low Cost of Clinical Trials in Developing Countries
. The Biotechnology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (United States), Merck Millipore (United States), Bio-Rad Laboratories, Inc. (United States), Enzo Biochem, Inc. (United States), Thermo Fisher Scientific Inc. (United States), F. Hoffmann-La Roche Ltd (Switzerland), Abbott Laboratories (United States), EKF Diagnostics (Germany) and Meso Scale Diagnostics, LLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2020, F. Hoffmann-La Roche Ltd announced the approval by the US Food and Drug Administration (FDA) for its CINtec PLUS Cytology as the first biomarker-based triage test for women whose primary cervical cancer screening results are positive for the human papillomavirus (HPV) using the Cobas 4800 HPV Test
In November 2019, Merck and Personalis, a cancer genomics company, entered into a partnership to identify and develop novel clinical biomarkers for cancer therapies. Under the terms of the partnership, Merck plans to use Personalis’ newest cancer immunogenomics platform ImmunoID NeXT for clinical biomarker identification and development
Market Drivers
- Increasing diagnostic applications of biomarkers
- Increasing R&D Funding for Pharma and Biotech Companies
Market Trend
- Increasing Number of Cros and Low Cost of Clinical Trials in Developing Countries
- High Prevalence of Cancer
Restraints
- High capital investments and low cost-benefit ratio
- Poorly Suited Regulatory and Reimbursement Systems
Opportunities
Emerging Economies and New Initiatives for Biomarker Research
Challenges
Proving the clinical validity in biomarker-based tests
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Biomarker Study Sheds Light on
The Biomarker Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Biomarker industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Biomarker industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.