Albany, NY -- (ReleaseWire) -- 10/18/2012 -- A biomarker is a gene, molecule or characteristics, by which pathogenic processes, biological processes or pharmacologic response can be evaluated or measured. They are classified on the basis of their application in different medical processes. These biomarkers help effectively in clinical decision making and thus help in diagnosing the health of a patient. In the present scenario, biomarkers are extensively used in the treatment of diseases such as cancer.
Read More: Biomarkers Market
The worldwide market of biomarkers is increasing tremendously due to its popularity and wide use in different drug discovery. Its extensive use in medical areas such as research and cancer treatment is highly increasing its demand. Several new companies are entering the biomarker market and new acquisitions and mergers are further supporting the growth of this market.
The global biomarker market was worth USD 13.16 in 2011 and it is expected to reach USD 34 billion by 2018, growing at a CAGR of 14.70% from 2011 to 2018. As of now, oncology earned the highest revenue but cardiology is expected to grow at a faster rate at a CAGR of 16.32% from 2011 to 2018. North America is noticed as the fastest growing region due to high adoption rate of high throughput technologies used in biomarker discovery, wide use of biomarkers in cancer treatment and rapid growth of IT industry in that region. The new product launches, emergence of new players in the market and several mergers, acquisitions and joint ventures serve as a major driver for the growth of the biomarkers market.
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Major players in the biomarkers market are Abbott Laboratories, Agilent Technologies Inc., Affymetrix Inc., Becton, Dickinson and Company, Celera Corporation, Bruker Corporation,DiagnoCure Inc., Epigenomics AG, Clarient Inc., and GE Healthcare among others.
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