Biomarkers Market Analysis Outlook 2017- 2025: Size, Cost Structures, Growth Rate

 

The Biomarkers Market Is Estimated To Be Valued At US$ 29,518.2 Mn In 2017 And Is Expected To Witness A Robust CAGR Of 13.6% During The Forecast Period (2017-2025).

 

Biomarkers Market


Because they can distinguish between normal and abnormal bodily processes, biomarkers are the molecules that are utilised to diagnose diseases. Any molecule, including DNA (genes), proteins, or hormones, can serve as a biomarker. They can be categorised based on a variety of factors, including features like imaging or molecular biomarkers. The need for biomarkers is growing in the drug research and development process since using them improves patient outcomes, lowers costs, and raises the success rate of drug development. More quickly than traditional clinical endpoints, biomarkers also help in predicting therapeutic efficacy.

The need for biomarkers is increasing as a result of the increasing use of biomarkers in the creation of new products and the treatment of chromosome-related illnesses such as Turner syndrome, Down syndrome, Patau syndrome, Edwards' syndrome, and others. For instance, Banyan Biomarkers, Inc. received marketing approval from the FDA in February 2018 for Banyan BTI, the first diagnostic blood test for traumatic brain injury. Therefore, it is anticipated that the introduction of such cutting-edge diagnostic techniques for a range of illness indications will spur growth of the Biomarkers Market during the course of the forecast year.

Pharmaceutical firms have started contracting out difficult bio analyses not only to save costs but also to gain access to specialist knowledge and increase productivity in the drug development process. For instance, in March 2018, SenzaGen and Burlesson Research Technologies, Inc. (BRT), a contract research firm in the United States that specialises in immunotoxicology, signed a crucial licence deal. This partnership will make BRTs' "GARD" available to a larger market. A collection of tests known as GARD are used to evaluate chemical sensitizers. These tests include genetic biomarkers for more than 200 genes, which encompass the complete immune response and are important for predicting the likelihood of hypersensitivity. In the near future, the Biomarkers Market is anticipated to increase favourably as a result of such improvement and innovation by CROs.

A key driver of Biomarkers Market expansion is anticipated to be the rising use and awareness of biomarker tests. Instead of using traditional diagnostic techniques, biomarkers are used for early disease detection and diagnosis. Additionally, biomarkers like BRCA1 show whether a person has a higher risk of acquiring cancer. Additionally, biomarkers are used in a wide range of therapeutic fields, such as oncology, metabolic disorders, immunological dysregulation, and neurological diseases to treat conditions as TMI, cancer, and Alzheimer's diagnosis. ABO newborn hemolytic disorder, Huntington disease, hereditary hemochromatosis, and cystic fibrosis are further conditions for which biomarkers are used.

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