The global biomarkers market is categorized based on product, biomarker type, application, and disease indication. According to application, the market is segmented into drug discovery and development, diagnostics development, disease risk assessment, personalized medicine, and others. Among these, diagnostic development dominated the global biomarkers market in 2015 and personalized medicine segment is analyzed to witness significant growth during the forecast period. The market is segmented on the basis of products into consumables, software and services. Based on biomarker type, the market is divided into efficacy biomarkers, safety biomarkers and validation biomarkers. The disease indication segment of the market includes cancer, neurological diseases, cardiovascular diseases, immunological diseases and other diseases. On the basis of geography, the market is segmented as North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa.

 

North America accounted for the biggest market share in terms of revenue for biomarkers owing to the rising demand for diagnosis of age related disorders among geriatric population. Moreover, increasing adoption of technologies related to biomarkers is expected to influence the market growth for biomarkers in this region. Asia-Pacific is analyzed to witness significant growth in the next five years for biomarkers. This growth is chiefly attributed by the increasing R&D activities in countries like China and India, growing number of contract research organizations and cost effective implementation of clinical trials.

 

Increasing prevalence of target diseases is expected to boost the usage of biomarkers in coming years. FDA support associated with the development of biomarkers and rising demand for personalized medicine are some of the attributes supporting the growth of biomarkers market. Pharmaceutical manufacturers are using biomarkers extensively in order to overcome the failure rates of drugs in clinical trial phases II and III. This is analyzed to bolster the growth of biomarkers market over the forecast period. In addition, increasing drug development cost is also expected to foster the market growth. However, heightened cost of validation and capital investment needed for discovery, application and development of biomarkers contribute towards the obstruction of biomarkers market.

 

Increasing significance of companion diagnostics and growing demand for personalized medicine are providing greater opportunities for biomarkers market. However, regulatory issues and fast and accurate diagnosis pertaining to chronic diseases are some of the major factors restraining the market for biomarkers. Some of the key players in the biomarkers market include Roche Diagnostic Limited, Abbott Laboratories Inc., Agilent Technologies Inc., Siemens Healthcare, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc., G.E. Healthcare Inc., Epistem Ltd, Affymetrix, Inc. and Aushon BioSystem Inc.