June 16, 2016
Wellesley, Mass., June 16, 2016 – The biomarkers market presents the largest of all opportunities in representative disease subsegments. BCC Research reveals in its new report that combination therapies will continue to contribute substantially to market growth during the forecast period.
Biomarker refers to a broad subcategory of medical signs—that is, objective indications of medical states observed—that can be measured accurately and reproducibly. The majority of biomarkers fall into four general classes: genomic signatures, proteins, a combination of data for predictive results using bioinformatics, and imaging markers.
The global biomarkers market is expected to grow at a five-year compound annual growth rate (CAGR) of 13.8% from 2015 to 2020, increasing from $50.6 billion in 2015 to $96.6 billion in 2020.
As a segment, genomics should reach nearly $54 billion by 2020, growing at an anticipated five-year CAGR of 14.1%. The growing prevalence of infectious diseases and hospital-acquired infections should drive segment growth, along with other drivers that include decreasing prices of DNA sequencing, increasing demand for genome analysis in animal and plant feedstock. Untapped growth opportunities in emerging countries such as India, Brazil and China and the overall increase in health awareness should foster growth, as well.
Imaging as a segment should grow at an anticipated five-year CAGR of 15%, the highest rate among all segments. The increasing prevalence of cancer is a key driver, along with the emergence of personalized medicines. However, poor regulatory and reimbursement systems could hinder growth.
The proteomics market as a segment is anticipated to grow at a five-year CAGR of 10.5%. Finally, bioinformatics as a segment should reach $6 billion by 2020 on a five-year CAGR of 9.7%, the slowest growth of all segments.
“Increases in both healthcare expenditure and R&D spending, along with the increasing utility of biomarkers for diagnostics, are expected to drive the market. The low cost of clinical trials in developing countries and new initiatives undertaken for biomarker research also should push growth,” says BCC Research analyst Jackson Highsmith. “However, market growth could be impeded by the need for high capital investment, low benefit-cost ratio, poorly suited regulatory and reimbursement systems, and the high cost of tests and sample collection and storage.”
Biomarkers: Technologies and Global Markets (BIO061D) analyzes the worldwide market and its leading and emerging competitors, key markets, major biotech companies, products in development, and overall competitive landscape. Analyses of global market drivers and trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
Biomarkers: Technologies and Global Markets( BIO061D )
Publish Date: Jun 2016
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