Biomarker testing helps in efficient and early detection and diagnosis of a disease. The biomarker technologies are used for diagnosis, drug development and formulation of chemical and prognostic development. The biomarker testing is extensively used for diagnosing cancer, metabolic disorder, neurological and cardiovascular disorders. Various application areas of the biomarkers are also fueling the demand for the biomarker testing market.
According to MarkNtel Advisors’ research report titled “Global Clinical Biomarker Testing Market Analysis, 2020”, the Global Clinical Biomarker Testing market is anticipated to grow at a CAGR of substantial rate during 2020-25. Moreover, with the recent pandemic outbreak of COVID-19 the biomarker testing market has also been positively impacted. The end users such as biotech and diagnostic tool companies have increased their clinical research. Therefore, the COVID-19 pandemic is also catalyzing the growth of clinical biomarker testing market.
Growth of the Cardiovascular Segment
Due to the soaring number of cases of cardiovascular diseases, the demand for clinical biomarker testing is emerging day by day. Around 17 million individuals die with cardiovascular diseases especially heart attacks, strokes each year. Cardiac biomarkers are used for risk stratification for various cardiovascular diseases such as myocardial infarction, ACS, congestive heart failure, etc. In 2019, the cancer segment held a considerable market share. Moreover, the expansion of diagnostics and detection techniques such as metabolomics, proteomics, and genomics are further expected to boost the Cancer Biomarker Testing market.
North America: The Largest Market for Biomarker Testing
The major factors attributing to the growth of the North America region in 2019 were the availability of advanced treatment facilities and improving healthcare infrastructure. Moreover, the burgeoning need for efficient and early diagnosis with increasing healthcare expenditure is driving the demand for biomarker testing. The increasing prevalence of diseases such as cancer, cardiovascular diseases and the increasing geriatric population across the globe is also a factor for the growth of clinical biomarkers testing in North America and Europe region. Asia-Pacific is expected to register substantial growth during 2020-25 with a constant rising population suffering with ailments which also includes the aging population. Rising funding activity for R&D by public and private organizations is also boosting the Clinical Biomarker Testing market in the Asia-Pacific region. Therefore, it is anticipated that the Asia-Pacific region would show positive demand through 2025 as stated in the MarkNtel Advisors’ research report “Global Clinical Biomarker Testing Market Analysis, 2020”.
According to MarkNtel Advisors, Abbott Laboratories, Adaptive Biotechnologies, Becton Dickinson, Bio-Rad Laboratories, Agilent Technologies, Hologic, Merck and Co., Thermofisher Scientific, Danaher Corporation, AbbVie Inc. are few of the leading players in the Global Clinical Biomarker Testing Market.
“Global Clinical Biomarker Testing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Clinical Biomarker Testing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Type (Cancer, Metabolism, Infectious Disease, Cardiology, Neurology, Immunological Disease),
2. By Application (Drug discovery, Nutrigenomics, Toxicology Testing, Personalized medicine, Functional Genomics),
3. By End-User (Pharma and Biotech Companies, Diagnostic Tool Companies, Healthcare IT/Big Data Companies, Clinical Laboratories, Research Institutes),
4. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia),
5. By Company (Abbott Laboratories, Adaptive Biotechnologies, Becton Dickinson, Bio-Rad Laboratories, Agilent Technologies, Hologic, Merck and Co., Thermofisher Scientific, Danaher Corporation, AbbVie Inc.)
Key questions answered in the study:
1. What are the current and future trends of the Clinical Biomarker Testing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Clinical Biomarker Testing industry?
5. What are the customer orientation, purchase behavior, and expectations from the Clinical Biomarker Testing firms across various regions?