The total global biomarker market is large, with an estimated $40.6 billion in revenues in 2015, according to Kalorama Information. The firm says the market is projected to grow to $53.6 billion by 2020. The healthcare market researcher released its findings in its new report, The Global Market for Biomarkers.
Biomarkers can be used for a range of diagnostic applications including predicting disease risk, diagnosis, predicting prognosis, identifying appropriate therapy for an individual, monitoring disease or for return of a disease, and other applications. Biomarkers also have important roles in drug discovery and development.
Drug development applications include predicting safety of a compound in in vitro assays in preclinical studies, evaluating safety and efficacy during clinical studies, identifying patients likely to benefit from a potential new therapy, and other applications. The market estimate includes tests for biomarkers (diagnostics products) sold to clinical laboratories, and also products sold to researchers. Biomarkers are biological or biochemical molecules, or genetic changes, or other characteristics that can be measured, and that indicate or predict a condition, risk, or likely response.
“Market growth is being fueled by the identification, validation, and introduction of new biomarkers, and products based on these new biomarkers,” said Bruce Carlson, Publisher of Kalorama Information. “These include safety and efficacy biomarkers being used in drug discovery and development, and other applications in addition to diagnostics.”
Technologies such as PCR, in situ hybridization and flow cytometry are used to detect the presence of biomarkers. The large and growing biomarker market has attracted a lot of attention, and companies entering the market. This has become a highly competitive market. The report lists more than 120 companies that are involved in making biomarker-based tests.
The report said that of the activity in the development and use of new biomarkers is in the field of oncology, where both single biomarkers and also biomarker panels are being developed and used for a wide range of applications – assessing risk of developing cancer, screening apparently healthy individuals for cancer, diagnosis of cancer, predicting prognosis, monitoring patients including monitoring for recurrence of disease, and determining the best therapy for treatment of a patient. bioMérieux, Qiagen, Alere, Abbott and Roche are among the companies in the report.
The Global Market for Biomarkers contains detailed segmentation based on disease areas (cancer, immunological disease, infectious disease cardiac markers and other markers). The report also contains company profiles. The report can be found here.