Biomarkers are measurable and quantifiable biological parameters that are used as indicators of normal and pathogenic biological processes, pathogenic responses, or pharmacologic responses to a therapeutic intervention. They have widespread applications in fields such as drug development, diagnostics, and personalized medicine. The global Biomarkers Market is estimated to be valued at US$ 17.97 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapid Technology Development
Newer technologies such as mass spectrometry, protein microarrays, tissue microarrays, and next generation sequencing enable researchers to discover, develop, and validate novel biomarkers. For instance, Nanopore sequencing technology by Oxford Nanopore Technologies helps in identification of DNA and RNA biomarkers from a single drop of blood or other biological samples. Development of such high throughput and advanced technologies has increased biomarker discovery rate and driven the market growth over the recent past.
Segment Analysis
The Global Biomarkers Market Size is dominated by protein biomarkers that account for over 60% share due to high application across diagnosis and prognosis of cancer, cardiac and neurological disorders. Within protein biomarkers, cancer biomarkers dominate due to increasing prevalence of cancer worldwide. Biomarkers in oncology aid in early detection of cancer along with monitoring treatment response and recurrence.
Key Takeaways
The global biomarkers market is expected to witness high growth during the forecast period of 2023-2030. The global biomarkers market size for 2023 is US$ 17.97 Mn.
Regional analysis: North America holds the largest share in the biomarkers market owing to presence of major players, increasing R&D investment and rising prevalence of chronic diseases in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising healthcare expenditure, large patient population and increasing awareness regarding disease diagnosis and prevention.
Key players: Key players operating in the biomarkers market are Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Acobiom, Apis Assay Technologies Ltd., Eagle Biosciences, Inc., Beckman Coulter, Inc., PerkinElmer Inc., Biopanda Reagents Ltd, Quanterix, Secure Diagnostics Pvt. Ltd., BioVision Inc., Merck KGaA, R&D Systems, Life Diagnostics, QuantaMatrix Inc., Nanjing Synthgene Medical Technology Co., Ltd, LifeSpan BioSciences, Inc, Wako USA, BioLegend, Inc, Abnova Corporation, and Abbexa.
For More Insights, Read- https://www.newsstatix.com/biomarkers-market-size-share-analysis-2023-2030/
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