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Global Biomarkers Market to Surpass US$ 81.6 Billion by 2025 | Key Players Include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd

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Global Biomarkers Market to Surpass US$ 81.6 Billion by 2025 | Key Players Include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd

August 22
18:02 2019
Global Biomarkers Market to Surpass US$ 81.6 Billion by 2025 | Key Players Include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd

Biomarkers Market – Global Industry Insights
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)

In order to cater to growing demand manufacturers are focusing on research & development for new product launches. For instance, in March 2017, the GeneNEWS Limited launched BreastSentry, a new risk stratification test for breast cancer. The BreastSentry incorporates a blood-based biomarker test to determine a woman’s five year and lifetime risk for developing breast cancer. Furthermore, in February 2018, Genomic Health, Inc. announced commercial launch of the Oncotype DX AR-V7 Nuclus Detect test in the U.S. The test consists of AR-V7 protein, a prognostic and predictive biomarker, used for detection of tumor cells and to provide precise treatments for cancer.

Millipore Sigma, in May 2017, launched a new single molecule counting platform, SMCxPROTM, during the American Association for Cancer Research Annual Meet. The SMCxPRO platform allows researchers to detect or monitor changes in biomarkers, even at extremely low concentration. Such advancement in the biomarker tests is expected to foster growth of the biomarkers in the near future.

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Furthermore, governments of various countries are focusing on initiatives, in order to develop novel techniques in precision medicines. For instance, the U.S. government launched Precision Medicine Initiative (PMI) in 2015, in order to increase awareness and focus on advancements in precision medicine field, which in turn, favors growth of the biomarkers market.

FDA Biomarker Qualification Program was established in 2009 to support the Center for Drug Evaluation and Research’s (CDER’s) work with external stakeholders to develop biomarkers that aid in drug development process. Biomarkers are widely used in drug development to improve the success rate and cost effectiveness.

Hence, pharmaceutical companies are increasingly outsourcing complex bio analysis to cut down on costs as well as to benefit from specialized expertise from the outsourced companies. This in turn, is enhancing efficiency of the drug development process. For instance, in March 2018, the SenzaGen entered into a license agreement with Burlesson Research Technologies, Inc., (BRT), a contract research organization in the U.S., specializing in immunotoxicology.

Precision Medicine Initiative have led to development of novel drugs and new treatments, tailored for specific characteristic such as person’s genetic makeup or genetic profile of an individual tumor that helps to transform the way of treatment. This also favors growth of the biomarkers market in the near future. As for the development of precision medicine, it is essential to identify biomarkers.

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Detailed Segmentation:

Global Biomarkers Market, By Product Type:

Biomarker Test Kits

Biomarker Analyzers

Global Biomarkers Market, By Disease Indication:

Cancer

Cardiovascular Disorder

Infectious Disease

Neurological Disorder

Immunological Disorder

Others

Global Biomarkers Market, By Application:

Diagnosis

Drug Discovery and Development

Others

Global Biomarkers Market, By End User:

Hospitals

Research Laboratories

Ambulatory Surgical Centers

Diagnostic Laboratories

Some of the major players involved in the global biomarkers market include Abbott Laboratories, Medtronic, BG Medicine, Inc., F. Hoffman LA Roche Ltd., Seimens Healthnineers, Nexus-DX, Qiagen N.V., and Lifesign LLC.

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