Clinical Lab Industry News

Global Biomarkers Market to Reach $34 Billion by 2017

Biomarkers market worldwide is on the growth path, thanks to ever-increasing use of biomarkers in the area of medicine. Biomarkers also offer tremendous support in effective clinical decision making, which is mainly dependent on diagnosing the health status of a patient. Biomarkers are increasingly finding application in the diagnosis of various diseases, especially cancer.

The cancer diagnosis area has been witnessing the emergence of novel tools aimed at expediting discovery of cancer biomarkers. Additionally, proteomics is increasingly making its presence felt in the biomarker discovery as well as testing arena, which in turn is fuelling demand for related services. Further, with growing popularity of biomarkers, an increasing number of pharmaceutical companies are using biomarkers in their drug development efforts. Alongside, a few industrial companies have totally dedicated their research efforts for identifying and discovering biomarkers. The global economic downturn failed to have any detrimental effect on the biomarkers market worldwide. Global market for biomarkers continued to surge ahead at double-digit growth rate even during the recession period.

Lately, the global biomarkers market is witnessing the emergence of several new companies. The market has been registering significant collaboration deals among companies, which is resulting in a growing application base for biomarkers in the drug discovery and diagnosis domains. New companies are likely to provide advanced technology platforms in areas such as proteomics, transcriptomics, pharmacogenomics and others, which aid in discovering, developing and qualifying biomarkers.

On the flip side, huge capital investment involved in biomarker discovery, development and application is a major factor hampering growth in the market. Furthermore, the process of biomarker validation is highly expensive as it uses high sensitivity tools. These factors are likely to force certain small organizations and Contract Research Organizations (CROs) to completely exclude the use of biomarkers. In addition, biomarker validation tests also increase complexity of the process of drug development, affecting overall biomarker market. As such, success in the area of biomarkers demands substantial contributions from all those involved in the development of biomarkers. The various regulatory agencies in the world are working towards establishing appropriate framework and guidelines for accessing biomarker data. These efforts of the regulating bodies are likely to encourage the adoption of the new technology by companies in the diagnostic and pharmaceutical sectors, in the coming years.

The market is, however, witnessing growth in the number of new service providers and companies. These new companies offer potential to provide several pioneering chemogenomic, bioinformatics, genomic, metabolomic, transcriptomic, peptidomic, glycoproteomic, proteomic and pharmacogenomic technology platforms that target biomarker qualification, discovery, and development. The advancements in this segment is likely to be a key driver for further biomarker research that would increase sample throughput, enhance detection levels and bring about multiple biomarker panels’ multiplex detection that gains utility in diagnostic’s preclinical research, clinical trials and commercialization processes.

Region-wise, the US constitutes the largest market for biomarkers, as stated by the new market research report on Biomarkers. Strengths provided by biomarkers in facilitating successful identification/validation of target further boosted the speed at which drugs are developed and this proved to be a growth promoter for the biomarker market in the US. Other important factors positively influencing the biomarker market in the US, and North American market as a whole, include an increasing demand for superior disease diagnostic and therapeutic capabilities from aging population, a higher technology adoption rate, and an increasing market requirement for biomarkers in drug development and discovery. Asia-Pacific is likely to emerge as the fastest growing market with a CAGR of 28% over the analysis period. A key factor fueling market growth in Asia is the ever-growing information technology industry in the region. The biomarker technologies sector in Asia-pacific is experiencing a healthy growth on account of excellent uptake of the novel methods for disease treatment and diagnosis.

Biomarker Discovery represents the largest area of application for Biomarkers. Biomarker Research, though currently in nascent stage, has achieved significant progress in the development of diagnostics and therapeutics targeting cancer. The technology’s capabilities to increase productivity by detecting the most appropriate drug candidate in the early R&D process offers significant potential in other disease areas as well.

Clinical Drug Development is likely to emerge as the fastest growing area of application, registering a CAGR of 26.5% over the analysis period. Use of Biomarkers in Clinical Drug Development is gaining rapid momentum and several global players are employing biomarkers in their drug development procedures as they significantly increase the efficacy of the process. Nearly 90% of candidate compounds fail in clinical trials mainly due to factors related to toxicity, absorption and metabolism among others. Biomarkers serve as important tools in detecting possibilities of drug failure at an early stage and thereby prevent substantial losses.

Oncology occupies a lion’s share of the global Biomarkers market in terms of therapeutics. Cancer biomarkers play a critical role in analyzing characteristics of the disease, which enable delivery of effective therapies. Cancer biomarkers offers several applications such as therapy selection, early detection and prognosis treatment. Cancer emerged as a leading diagnostic application of biomarkers worldwide, due primarily to growing number of cancer biomarkers receiving regulatory clearances. Cardiology is expected to emerge as the fastest growing segment in terms of therapeutics with a CAGR of about 24% over the analysis period. A major factor driving growth in the global cardiovascular biomarker market is the ability of these biomarkers to make accurate prediction of heart failure in stable patients. Besides, these biomarkers are also capable of accurately assessing risks of ACS, stroke and other cardiovascular events in home as well as primary care settings.

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