(PharmaNewsWire.Com, June 22, 2017 ) Asia-Pacific biomarkers market is expected to reach USD 8.32 billion by 2020 from USD 3.93 billion in 2015, growing at a CAGR of 16.20% during forecast period 2015-2020.
Biomarkers are described as the biological molecules or genes assist in crucial clinical decisions and diagnosis of health conditions in patients. These are also known as molecular markers or signature molecules and used to analyze the pharmacologic responses, biological & pathological conditions. Biomarkers are found extensively in body fluids and tissues. Biomarkers are helpful in drug discovery & development processes and assessment of disease conditions.
Rising demand for diagnostic tests to aware of health conditions, increasing number of cancer patients, growing focus of foreign pharmaceutical companies on Asian market, and increasing involvement of universities & research institutes are driving the growth of biomarkers market in Asia-Pacific region. In addition, growing demand for advanced healthcare facilities in certain Asian countries such as India & China and rising number of clinical trials are further stimulating the growth of biomarkers market in Asia-Pacific region. However, low adoption of advanced biomarkers tests and high cost of biomarkers developments & validation are restraining the growth of biomarkers market in Asia-Pacific region.
Asia-Pacific biomarkers market is segmented based on the product, type, application, and disease indications. Based on product, the market is further sub-segmented as consumables, software, and services. Based on type, the market is segmented as safety biomarkers, efficacy biomarkers, and validation biomarkers. Biomarkers application is further segmented as diagnostics developments, drug discovery & developments, personalized medicine, and disease risk assessment. Based on disease indications, the market is segmented as cancer, cardiovascular, neurological, and immunological disorders.
The key players in biomarkers market include, Bio-Rad Laboratories (U.S.), Qiagen N.V. (Netherlands), Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.), Singulex, Inc. (U.S.), BioSims Technologies (France), Cisbio Bioassays (France), and Signosis, Inc. (U.S.).
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