Biomarkers are substances, indicators or characteristics that can be measured in samples such as blood, urine, tissue or other fluids that indicate a particular biological process or disease or state.
Biomarkers can be used to diagnose disease, determine disease severity or progression, and monitor response to treatment. They can also be used to identify people who are at risk of developing a particular disease or condition, allowing for earlier intervention and better outcomes.
Examples of biomarkers include protein levels, gene expression patterns, metabolic products, and imaging features. Biomarkers can be used in various medical fields, including oncology, neurology, cardiology, and infectious diseases. Global Biomarker Market for Diagnostic Applications is expected to garner $30.6 Billion Globally by 2020, registering a CAGR of 16% during the forecast period 2013 to 2020.
The use of biomarkers has revolutionized the field of personalized medicine, enabling more accurate diagnosis, targeted therapy and better patient outcomes. As a result, the biomarker market is growing rapidly and investments are increasing in the research and development of new biomarkers for various diseases and conditions.
The global biomarker market has seen significant growth in recent years and is expected to continue to grow rapidly in the coming years. According to a report from Grand View Research, the global biomarker market value was $35.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2021 to 2028.
The growth of the biomarker market can be attributed to several factors. One of the major drivers of the market is the increase in chronic and infectious diseases worldwide. As biomarkers are used in early diagnosis and monitoring of these diseases, the demand for biomarkers is expected to increase. Another factor driving the growth of the biomarker market is the increased focus on personalized medicine. Biomarkers enable the selection of personalized treatment for each patient, improve treatment outcomes and reduce healthcare costs. Additionally, increasing investment in research and development of novel biomarkers for various diseases and conditions is expected to boost market growth. The development of new biomarkers can lead to the discovery of new drug targets, which can lead to the development of more effective drugs. However, the biomarker market faces challenges such as the high cost of biomarker development and validation, regulatory barriers, and ethical concerns related to the use of biomarkers. Despite these challenges, the global biomarker market is expected to continue due to the increasing demand for personalized medicine and potential benefits in disease diagnosis and treatment. The global biomarker market is highly competitive, with many major players operating in the market. Some of the Biomarker Market Players are:
f. Hoffmann-La Roche Ltd: Roche is a Swiss multinational healthcare company that develops, manufactures and markets pharmaceuticals, research and research-based health products. Roche is one of the leading players in the biomarker market and offers a wide range of products and services for the diagnosis and treatment of various diseases. Thermo Fisher Scientific Inc.: Thermo Fisher Scientific is an American technology company that provides a wide range of products and services for the life sciences industry. The company offers a wide range of biomarker testing tools, including probes, reagents and instruments. Agilent Technologies, Inc.: Agilent Technologies is an American research equipment company that provides products and services in the life sciences, research and applied chemistry markets. The company offers a wide range of biomarker analysis tools, including solutions based on liquid chromatography and mass spectrometry. Bio-Rad Laboratories, Inc.: Bio-Rad Laboratories is an American multinational corporation that manufactures and distributes life science research and clinical diagnostic products. The company offers a variety of products and services for the biomarker market, including immunoassays, protein and genetic analysis. QIAGEN NV: QIAGEN is a Dutch biotechnology company that develops and provides research and development technologies for molecular testing, applied testing and pharmaceutical research. The company offers a variety of products and services for biomarker analysis, including analysis, sample preparation and bioinformatics analysis. Other major players in the biomarker market include PerkinElmer, Inc., Merck KGaA, Illumina, Inc., and GE Healthcare.
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