SAN FRANCISCO, CA, December 29, 2013 /24-7PressRelease/ -- Biomarkers are used as diagnostic tools to measure the presence and severity of a disease. These biomarkers are naturally occurring genes or molecules and are introduced to the target site or organ to detect pathological and physiological processes of a disease. ---
Biomarkers hold paramount importance in the field of drug discovery and development by providing clarity on a disease in terms of its epidemiology of a disease. Therefore, rising number of initiatives undertaken in the drug discovery and development field is the most significant growth driver of this market. Moreover, rising worldwide prevalence of cardiology, oncology and neurology based diseases and encouraging initiatives undertaken by regulatory agencies such as the U.S. FDA will serve the global biomarker market as drivers.
Drug discovery and development dominates the application market in terms of market share. Moreover, this segment is expected to maintain its market position throughout the forecast period. Drug discovery and development are of very high importance in the pharmaceuticals industry. The use of biomarkers in this process helps in accelerating the process and in predicting drug failures. Such an ability of biomarkers to predict drug failures proves to extremely cost effective as according to the estimates of the U.S. FDA, accurate drug failure predictions save approximately USD 100 million for the manufacturers.
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In terms of disease segments, oncology dominates the global biomarkers market. High global prevalence of cancer coupled with the presence of high patient awareness levels accounts for the aforementioned fact. However, the cardiology market is deemed to be the most lucrative segment in terms of future growth opportunities. Growing incidence rates of cardiovascular diseases and the presence of high unmet medical needs are some of the drivers of this market.
North America holds the largest share of this market. The presence of sophisticated healthcare infrastructure supporting research and development and the presence of high per capita healthcare expenditure in this reason account for the aforementioned fact. However, the Asia-Pacific market is expected to grow at the fastest rate owing to the growing number of contract research organizations in this region and rapid economic development observed in countries such as China and India.
This research study encompasses a competitive landscape of the biomarkers market. Revenue analysis, product benchmarking and strategic developments of key market players such as Roche Diagnostics, Abbott Laboratories, Agilent Technologies, Siemens Healthcare, Epigenomics AG, GE Healthcare, Johnson and Johnson and others are also provided in this report.
Our market research study takes a closer look at the biomarkers industry, providing a holistic perspective on market dynamics, trends, supply and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key application segments including drug discovery and development, personalized medicine, molecular diagnostics and others with yearly forecast up to 2020. Market estimates and key forecasts for key disease indications such as oncology, neurology, cardiology and others and for key discovery technologies such as omics technology, imaging technology and bioinformatics are also included in this report. The report also provides the same level of information for key regional markets of North America, Europe, Asia-Pacific and RoW (Rest of the world).
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The research report analyzes various factors which have been driving and inhibiting the global biomarkers market in the past. In addition, the research report analyzes the impact of each driver and restraint on the market growth based on which the market is forecasted. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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