Biomarkers Market Size Is Projected To Reach $118 Billion By 2026: Grand View Research, Inc.

Biomarkers Market Size Is Projected To Reach $118 Billion By 2026: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,The global biomarkers market size was valued at USD 40.8 billion in 2018 and is expected to expand at a CAGR of 13.7% over the forecast period.

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.

U.S. biomarkers market size, by application, 2014 - 2026 (USD Billion)

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.

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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.

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Grand View Research has segmented the global biomarkers market on the basis of application, type, and region:

Biomarkers Type Outlook (Revenue, USD Million, 2014 – 2026)

  • Safety

  • Efficacy

  • Validation

Biomarkers Application Outlook (Revenue, USD Million, 2014 – 2026)

  • Diagnostic

  • Drug Development

  • Personalized Medicine

  • Others

Biomarkers Disease Outlook (Revenue, USD Million, 2014 – 2026)

  • Cancer

  • Cardiovascular Diseases

  • Neurological Diseases

  • Immunological Diseases

  • Others

Biomarkers Regional Outlook (Revenue, USD Million, 2014 – 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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