Biomarker Test Market 2019 Global Trend, Segmentation and Opportunities - F
by Bhagyashri Bhole in Accuracy in Media
Market Research Future (MRFR)’s latest study reveals that the global biomarker test market is expected to thrive rapidly striking a CAGR of 14.5% during the forecast period 2016 to 2022. The global market is projected to reach a valuation of USD 16,112.8 Mn by the end of 2022. The increasing application of biomarkers in the diagnosis of different diseases is likely to fuel demand in the market over the next couple of years.
Rising burden of different types of cancer is one of the key factors driving the growth of the biomarker test market. Large-scale prevalence of cardiovascular, neurological, etc. diseases has paved the way for accelerated investments in clinical trials for the development of biomarkers. The shift towards minimally invasive technology is further expected to propel the expansion of the global biomarker test market.
The technological advancements in the development of biomarkers coupled with support from the government are projected to catalyze the biomarker test market proliferation over the review period. Additionally, the availability of cost-effective clinical trial facilities in the emerging markets such as China, India, etc. is prognosticated to favor the expansion of the biomarker test market in the foreseeable future.
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Key Players for Global Biomarker Test Market
Some of the key players profiled in the report are F. Hoffmann-La Roche AG, PFIZER INC., GE Healthcare, Medtronics, Quest Diagnostics, Novartis AG, and GlaxoSmithKline Plc. Among others.
In September 2018, Exagen Diagnostics, the U.S., announced the launch of the first blood test for rheumatoid arthritis biomarker. The test detects anticarbamylated protein antibodies which are found to be exponentially elevated in patients.
In September 2018, the scientists of the U.K. have discovered protein biomarker of early-stage ovarian cancer detectable in a urine test.
Segments for Global Biomarker Test Market
By application, the global biomarker test market has been segmented into cancer, cardiovascular, infectious diseases, central nervous system. The cancer segment holds the largest share of the market. It is likely to retain a substantial share of the global market and is expected to reach a valuation of USD 5,395.6 Mn market towards the end of 2022.
By end-users, the biomarker test market is segmented into pharma & biotech companies, diagnostic tool companies, healthcare IT/big data companies, clinical laboratories. The pharma & biotech companies segment currently accounts for the most significant share of the market. It is projected to exhibit tremendous growth across the assessment period and has been forecasted to value at USD 5,451.8 Mn by 2022-end.
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