December 17, 2018
WELLESLEY, Mass., Dec. 28, 2018 -- Essential to drug discovery and development, disease management and in-vitro diagnostics, the global biomarkers market has vastly expanded as licensing, partnerships and acquisitions deals have significantly increased, according to BCC Research.
The global biomarkers market was valued at $74.5 billion in 2018 and is expected to reach $150 billion by 2023 at a compound annual growth rate (CAGR) of 15%, according to the report "Biomarkers: Terms, Values and Trends, 2008-2018."
"In the biomarkers sector, collaborations and partnerships can help a firm overcome challenges during the development stage and can help introduce new products and tests into the market. Companies collaborate to accelerate R&D activities, including biomarker identification and discovery as well as assay/technology development," said analyst Dr. Marianna Tcherpakov.
Oncology Sector Drives Biomarker Licensing and Collaborations
The oncology sector is the most active in biomarker licensing and collaborations. In general, the main research and product development efforts in this sector are focused on prostate, bladder, breast, melanoma, lung and ovarian cancers.
Dr. Marianna Tcherpakov's further discussed the global biomarkers market in a recent webinar. For more information on biomarkers deals and trends, refer to the following blog post "Biomarkers: Advancing Drug Development, Dominating the Market" based on her talking points.
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Biomarker Deals: Terms, Value and Trends, 2008-2018( BIO169A )
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