Biomarkers are used for the diagnosis health status of an individual. In medical terms, a measurable biomarker is a chemical component which reflects the presence as well as the severity of the disease. Biomarkers have an important function in the early detection of various diseases.
The Biomarkers market growth is driven by therising ageing population and increasing incidence of chronic diseases such as cancer, cardiovascular diseases and neurological disorders. In addition, increasing regulatory approval for biomarkers, rising demand in drug discovery, growing emphasis on personalized medicine and companion diagnostics are some of the other factors driving the growth of the biomarkers market globally.
However, high investment costs and problems associated such as sample storage & collection is hampering the growth of the biomarker market.
On the basis of product type, the Biomarkers Market is segmented into safety biomarkers, efficacy biomarkers, and validation biomarkers. Among these, Efficacy biomarker segment accounted for the largest market share and growing at a significant CAGR.
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa.
North America is dominating the Biomarkers market in 2018 and estimated to hold largest market size over the forecast period (2019-2026). The U.S. biomarkers market will lead biomarkers market due to favorable healthcare infrastructure as well as availability of technologically advanced products. Rising investment in drug discovery, diagnostics along with rising cancer patient pool will further stimulate the biomarkers market growth.
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