Biomarkers
Market: Introduction
·
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. The U.S. Food and Drug Administration (FDA) has approved the usage of
biomarkers as surrogate end-points in the treatment development process.
·
Biomarkers play a pivotal role in disease
risk assessment, drug discovery & development, diagnostics development,
personalized medicine, and others. Research activities are particularly focused
on the development of diagnostic biomarkers for cancer. Most favorable drugs
can be selected with the support of biomarkers that reduce chances of failure
and discovery costs at the later stages.
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Biomarkers
Market: Key Trends
·
The global biomarkers market is gaining
traction due to a number of factors, including increase in diagnosis
applications for companion diagnostics and personalized medicine, rapidly
growing number of contract research organizations, decline in cost of clinical
trials in various emerging economies, high prevalence of cancer, surge in
investment in research & development by biotechnology and pharmaceutical
companies, and new initiatives in biomarker research. However, the global
biomarkers market is facing challenges such as high capital investments, low
cost-benefit ratio with total investment, technical issues pertaining to sample
collection & storage, and poorly suited regulatory and reimbursement
systems. Nevertheless, vastly populated emerging economies in Asia Pacific such
as India and China are expected to open new revenue avenues for the companies
operating in the global biomarkers market, provided these can prove the
clinical validity of the tests.
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·
The world is presently struggling with the
COVID-19 pandemic. COVID-19 leads to pneumonia, severe & acute respiratory
disorders, multiple organ failure, and, in severe cases, death. The geriatric
population is more prone to COVID-19. The global biomarkers market has
witnessed strong growth due to the pandemic. Usage of biomarkers is
particularly important during the current pandemic state, as these can enhance
the development and approval of new, innovative drugs and biological products,
particularly in the field of vaccines.
·
Governments of developing countries are
making significant investments to modernize health care infrastructure in their
respective countries, which is likely to increase access to health care. This
is expected to drive the demand for biomarkers. Rise in prevalence of chronic
heart diseases, especially heart attack, in developing countries presents
lucrative opportunities in the global biomarkers market.
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North
America to Capture Major Share of Global Biomarkers Market
·
North America is projected to account for
large share of the global biomarkers market during the forecast period due to
the growing acceptance of advanced technologies, entry of new players, new
product launches, and wider usage of biomarkers
·
The biomarkers market in Europe is likely
to grow at a rapid pace during the forecast period, led by the increasing
efforts toward drug discovery. The biomarkers market in Asia Pacific is
expected to expand at a high CAGR during the forecast period due to factors
such as new initiatives for research, high prevalence of cancer, low cost of
clinical trials in developing countries, increase in number of CROs, surge in
R&D funding for pharma and biotech companies, and rise in diagnostic
applications of biomarkers.
·
The market in Latin America and Middle East
& Africa is anticipated to be driven by increase in diagnostic applications
of biomarkers in the regions
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Key
Players Operating in Global Biomarkers Market
Key players
hold major share in their respective regions. Growth strategies adopted by
leading players are likely to drive the global biomarkers market.
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