A biomarker refers to a biological molecule or gene that is used to effectively and accurately evaluate pharmacologic responses, pathogenic procedures, and biological procedures. Also known as a molecular marker or signature molecule, biomarkers are found in blood, other body fluids, and tissue.
The global market for biomarkers is gaining traction from a number of factors, including increasing prevalence and diagnosis of life-threatening diseases like cancer, cardiovascular diseases, neurological disorders, etc., which is, in turn, raising the awareness and increasing the demand for early diagnosis, reducing the cost of clinical trials in various emerging economies, increasing investment in research and development by biotechnology and pharmaceutical companies, and new initiatives regarding biomarker research. On the other hand, the biomarkers market is facing challenges from high capital investments, the low cost-benefit ratio with total investment, and poorly suited regulatory and reimbursement systems. Nevertheless, vastly populated emerging economies in the Asia Pacific such as India and China are expected to open new revenue avenues for the companies operating in the biomarkers market, provided they can prove the clinical validity of the tests.
Key Market Trends
Cancer Biomarkers dominate the market
Development of advanced genomic analysis technique, the introduction of effective guidelines for biomarkers manufacturing, huge amount of research by Cancer societies and proven effectiveness of transplants are some of the primary growth stimulants for the segment. Although manufacturing and pharmacological issues and regulatory hurdles are hindering the growth of the market, the development of products from research institutes has been propelling the growth of this market. For instance, in January 2018, Researchers from University of Luxembourg have discovered a new biomarker for colorectal cancer which classifies patients into “high” and “low” risk group which may help oncologists to choose the adequate treatment for a particular patient.
North America Dominates the Market in the Forecast Period
North America currently dominates the market for renal biomarkers and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. Over the past decade, there has been a significant increase in the number of USFDA-approved drug labels containing information on molecular biomarkers. Almost every pharmaceutical company has been developing molecular biomarker programs, either through partnerships or through other ventures. Molecular biomarkers are expected to be identified and validated in drug development and be used to support the approval of drug products. Such drug approvals are helping the renal biomarkers market grow in the United States.
Majority of the biomarker assays and tests are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, due rise of awareness and hence increasing market, Asia-pacific is witnessing an emergence of some small players.
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