Assays to evaluate presence or progress of a disease.
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Biomarkers market frequently asked questions
As per Beroe, the primary factors that drive the growth of the biomarkers market are: Increasing diagnostic applications of biomarkers Rise in R&D funding from the government Growing number of CROs Low cost of clinical trials in the developing countries High prevalence and incidence of chronic diseases New initiatives for biomarker research
The main uses of the biomarkers within the industry are: Predicting the prognosis and selecting dose regimes Detecting therapeutic advances and adverse responses For patient satisfaction based on efficacy or safety prediction They can also help to select appropriate patients for treatment with certain drugs, hence enables personalized medicine
According to Beroe's insights, the genomics-based biomarker platform is the fastest growing and heavily adopted technology.
As per Beroe, the genomics biomarker market is expected to grow at a CAGR of nearly 25 ' 26 percent, while for proteomics and imaging biomarkers, the growth rate is anticipated around 12 ' 14 percent and 14 ' 15 percent respectively in the next five years.
The cancer biomarkers market is estimated to grow at a CAGR of 15 ' 15.5 percent and its market share is expected to reach a valuation of $32,632.11 million by 2024.
As per Beroe's study, the core factors that drive the growth of the cancer biomarkers market include: An increasing rate of cancer patients Technological advancements of omics Need for personalized cancer treatments The rise in government funding for cancer research
Cardiovascular disorders are expected to grow at the highest CAGR of 15.9 percent to reach a valuation of $25,063.53 by 2024.
Cardiac biomarkers are majorly used as risk stratification for various CVDs like myocardial infarction, congestive heart failure, ACS, etc.
According to Beroe's report, some of the widely used biomarkers for CVD as an integrated diagnostic approach include: CK ' MB Troponin I and T Myoglobin BNPs IMA
Following the insights from Beroe's analysis, it can be said that the market is moving more towards global as: Regional engagement requires revalidation in secondary labs The local engagement has difficulty while developing complex biomarkers
The key suppliers include the following names: Covance QPS Immune Health SGS Charles River PRAHS
The global market size of biomarkers is nearly $29 Bn which grows at a CAGR rate of 13 ' 14 percent.
The four restraints that are hampering biomarkers procurement for the corporates are: High capital investment and low cost-benefit ratio Poorly suited regulatory and reimbursement systems Technical issues related to sample collection and storage Government regulation and ethical problems Complex process
Biomarkers market report transcript
Global Market Outlook on Biomarkers
The market growth is mainly driven by factors, such as increasing diagnostic applications of biomarkers, rise in R&D funding from the government, growing number of CROs, low cost of clinical trials in the developing countries, high prevalence and incidence of chronic diseases, and new initiatives for biomarker research
- Biomarkers are important for predicting prognosis and selecting dose regimes. They are helpful for detecting therapeutic advances and adverse responses as well as for patient stratification, based on efficacy or safety prediction
- Biomarkers are essential tools for the selection of appropriate patients for treatment with certain drugs, and so enables personalized medicine to a greater extent
- Biomarker information is also included in labelling, in case of negative selection (i.e., if the biomarker is used to select a population unlikely to respond) or in case of uncertainty about the value of the biomarker, but where a negative selection is suspected, e.g., vandetani
- Genomics-based biomarker platform is the fastest growing and heavily adopted technology among others. In fact, the genomics biomarker market is expected to grow at a CAGR of ~25–26 percent in the next five years
- Proteomics biomarker discovery, albeit more complex, is expected to grow at a CAGR of 12–14 percent
- Imaging biomarkers are expected to grow at a steady rate of 14–15 percent over the next five years
- The omics family is constantly growing and adding new members, such as genomics, proteomics, peptidomics, and the newer ones, such as epigenomics, transcriptomics, metabolomics, lipidomics, pharmacogenomics, interactomics, and chronemics
- The cancer biomarker market is expected to grow at a CAGR of 15 to 15.5 percent
The market share of cancer biomarkers is expected to reach $ 32,632.11 million by 2024
The growth factors include:
–Increasing rate of cancer patients
–Technological advancement of omics
–Need for personalized cancer treatments
–Rise in the government funding for cancer research
- Among the regions, Asia–Pacific will continue to grow in the next five years
- Cardiovascular disorders is expected to grow at the highest CAGR of 15.9 percent and is expected to reach $ 25,063.53 million by 2024
- Cardiac biomarkers are used as risk stratification for various CVDs, such as myocardial infraction, congestive heart failure, ACS, etc.
- Some of the widely used biomarkers for CVDs as an integrated diagnostic approach include CK-MB, troponin I and T, myoglobin, BNPs, and IMA
Drivers and Restraints
- Increasing diagnostic applications of biomarkers
−Personalized medicine, an emerging practice of medicine that uses an individual's enetic profile to guide decisions made, in regard to the diagnosis, prevention, and treatment of diseases.
−Companion diagnostics involves the use of biomarkers that provides biological and/or clinical information that enables better decision making about the development and use of a potential drug therapy
- Increasing R&D funding for pharma and biotech companies
- Non-invasive biomarkers can help in decision making during interim analysis in protocols
- Accuracy in result - Biomarkers can also reflect the entire spectrum of disease from the earliest manifestations to the terminal stages
- Increasing number of CROs and low cost of clinical trials in developing countries
- Multi-marker Application: Combination of markers used in the care, along the entire spectrum of disease, by improving screening, simplifying diagnosis, clarifying prognosis, and tailoring treatment
- Gene-level diagnosis: Cancer diagnosis is becoming more easier with the incorporation of molecular markers, such as DNA, RNA, micro RNAs, and proteins
- High capital investment and low cost-benefit ratio
- Poorly suited regulatory and reimbursement systems
- Technical issues related to sample collection and storage
- Government regulation and ethical problems
- Complex process