Biomarkers Market Is Estimated To Generate $118 Billion By 2026

The global biomarkers market size is expected to reach over USD 118 billion by 2026, according to a new study by Grand View Research Inc. It is projected to expand at a CAGR of 13.7% during the forecast period. Technological advancements, high consumer awareness, and increasing funds for research and development (R&D) activities are collectively propelling the market growth. 

Drug discovery was estimated to be one of the highest revenue generating segments of the market. Pharmaceutical companies are undertaking extensive R&D initiatives to develop targeted therapeutics. Coordinated research efforts on biomarker development is a rising trend among commercial R&D organizations, academic research institutions, federal government biomedical regulatory and research agencies, and nonprofitable health foundations.

North America led the biomarker market in 2018, driven by high disease prevalence, proactive governmnet initiatives, and substantial demand for personalized medicines. North America is anticipated to retain its leading position throughout the forecast period. Asia Pacific is expected to witness the fastest regional growth, spearheaded by India.

Some key players operating in the biomarkers market include F. Hoffmann-La Roche Ltd.; Abbott.; Epigenomics AG; Agilent Technologies, Inc.; Johnson & Johnson Services, Inc; Siemens Healthcare Private Limited; Bio-Rad Laboratories, Inc.; Thermo Fisher Scientific, Inc.; and Qiagen. Key players are developing novel kits and therapies or drugs to target population in the areas with high unmet clinical needs.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/biomarkers-industry

Further key findings from the study suggest:

• Safety biomarkers held the largest market share of over 42% in 2018 due to reduction in drug attrition and increasing awareness of routine healthcare checkups
• Validation biomarkers is estimated to be one of the fastest growing segments
• Personalized medicine is estimated to grow at a CAGR of 15.0% over the forecast period owing to growing consumer awareness
• Cancer held the largest market share in 2018, driven by an increase in global prevalence of cancer and the presence of a strong pipeline of drugs
• Cardiovascular diseases is projected to be the fastest growing segment throughout the forecast period, supported by sedentary lifestyles and growing obese population.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com