Global Biomarker Technologies Market is Expected to Grow at – GlobeNewswire

Science & Technology

| Source: Quince Market Insights Quince Market Insights
Pune, INDIA
Pune, India, Dec. 27, 2021 (GLOBE NEWSWIRE) — The global biomarker technologies market is expected to value at USD 32,600.71 million in 2021 and is expected to grow at a CAGR of 11.3% during the forecast period, as per a recent market analysis by Quince Market Insights. A biomarker is a physical, cellular, or chemical change that can be noted and a normal or abnormal procedure in a human body that can be studied. The effects of the treatment, progress, and occurrence or the risk for any sort of disease can be checked by studying any modification in the normal quantity of the biomarker. Increasing geriatric population is expected to contribute to the global biomarker technologies market.
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The biomarker technologies market is expected to be driven by increasing prevalence of diseases like prostate, lung, and breast cancer, development in medical technologies. Various initiatives have been taken by the government to support the research in biomarker technologies and growing usage of the biomarkers to increase the precision of disease diagnosis, which is expected to boost the market growth. Furthermore, the increased number of capital investments needed for the discovery, expansion of the biomarkers market are other driving factors of the biomarker technologies market.
On the other hand, the lesser cost required to conduct clinical trials in the developing economies become an attraction for multinational companies for investing more in clinical trials. However, the low per capita income and poor healthcare infrastructure in some regions are some of the factors which can hamper the global biomarker technologies market growth.
Some Significant Market Developments Considered in the Report:
COVID 19 Impact on the Global Biomarker Technologies Market
The QMI team is closely monitoring the impact of COVID-19 on the global biomarker technologies market, and it has been observed that the market demand is normal during the pandemic time. It is expected to grow sharply during the analysis period. To control the spread of the pandemic, many countries across the globe have enforced strict lockdown norms, which is hampering all kinds of business activities. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
Global Biomarker Technologies Market, by Product
Based on product, the global biomarker technologies market is segmented into consumables, assays, reagents and instruments. Among these, the consumables segment is expected to be the largest segment during the forecast period owing to its larger sales volume. On the other hand, the reagents segment also holds the largest share after the consumables market.
Global Biomarker Technologies Market, by Profiling Technology
Based on the profiling technology, the global biomarker technologies market is segmented into immunoassay, PCR (Polymerase Chain Reaction), imaging technologies, mass spectrometry, NGS (Next Generation Sequencing), chromatography, cytogenetics and other. The immunoassay segment is further classified into ELISA (Enzyme Linked Immunoassay), western blot, protein microarray. Immunoassay is expected to be the largest segment during the forecast period. ELISA, a technology used in immunoassay, simultaneously quantifies protein level and also has the capacity in accelerating the process of biomarker protein validation for clinical usage. This factor is expected to drive the segment growth.
Global Biomarker Technologies Market, by Application
Based on the application, the global biomarker technologies market is segmented into drug discovery, diagnostics, and personalized medicine. Among these, drug discovery is expected to be the largest segment during the forecast period. The segment growth can be owing to increasing use of biomarkers in the drug discovery of various types of health issues and diseases such as cardiovascular problems, cancer, neurological problems, and others.
Global Biomarker Technologies Market, by Indication
Based on indication, the global biomarker technologies market is segmented into cancer, infectious diseases, autoimmune disorders, cardiovascular disorders, and others. The infectious diseases segment is expected to be the fastest growing segment owing to its increasing use in infectious diseases including distinguishing bacterial from non-bacterial infection, analyzing the response to therapy, and predicting outcomes.
Global Biomarker Technologies Market, by Research Area
Based on the research area, the global biomarker technologies market is segmented into genomics, proteomics, others. The proteomics segment is further classified into metabolomics, metabolic flux, lipidomics. Among these, genomics is expected to be the largest segment during the forecast period as it can diagnose genetic disease by reducing genetic testing to a single analysis.
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Global Biomarker Technologies Market, by Region
Based on region, the global biomarker technologies market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is expected to hold the highest market share during the forecast period. The regional market growth can be owing to increasing incidences of cardiovascular diseases, cancer, autoimmune diseases, and neurological disorders. Increasing elderly population and escalating healthcare expenses will further boost the regional market growth during the forecast period.
Some Major Findings of the Biomarker Technologies Market Report Include:
Browse key industry insights from the report, Biomarker Technologies Market, by Product (Consumables, Assays, Reagents, Instruments), Profiling Technology (Immunoassay, PCR, Imaging Technologies, Mass Spectrometry, NGS, Chromatography, Cytogenetics, Other), Application (Drug Discovery, Diagnostics, Personalized Medicine), Indication (Cancer, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, Others), Research Area (Genomics, Proteomics, Others), Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” in-depth analysis along with the table of contents (ToC).
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