Williamstown, MA -- (ReleaseWire) -- 02/17/2012 -- Biomarkers Market (Discovery Technologies, Applications & Indications) - Global Trends, Opportunities & Forecasts (2011 - 2020)
A biomarker is defined as a characteristic that is objectively measured and evaluated as an indicator of normal biological processes, pathogenic processes, or pharmacologic response to a therapeutic intervention. Biomarkers are classified in different ways based on different parameters such as on the basis of their application, their characteristics and on their usage in decision making in early drug development. With drug development facing challenges from ever increasing cost of developing drugs and rise in the failure rate for drugs in phase II and III clinical trials, biomarkers are being employed on large scale by pharmaceutical companies to overcome these challenges. Also the advent of personalized medicine and companion diagnostics is witnessing a strong presence of use of biomarkers and holds to be a big opportunity for the overall biomarker market.
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The global biomarker market is also growing due to emergence of several new companies, providing advanced technology platforms in areas such as bioinformatics, genomics, metabolomics, transcriptomics, proteomics, and pharmacogenomics. Scientific progress in these areas likely to be a key driver for further biomarker research to improve sample throughputs, enhance detection levels, and generate multiple biomarker panels with increased utility in diagnostics, preclinical research, clinical trials and product commercialization.
This report studies the global biomarker market divided into global discovery technologies market, global application market across major indications which is given as a different segment; Global biomarker indication market over the forecast period (2011-2020). The global biomarker market is valued at $13.16 billion in 2011 growing at a steady pace of CAGR 14.40% to reach $25.79 billion by 2016. The biomarker discovery technology market is the major contributor of this market followed by the application market. Oncology is seen to be the largest indication in terms of revenue but cardiology is the fastest growing indication with a CAGR of 16.24% from 2011 to 2016. North America is leading the market followed by Europe and Asia is the fastest growing region due to high adoption rate of high throughput technologies for biomarker discovery and rapid growth of IT industry in this region.
Players are implementing various growth strategies in the market to gain competitive edge. New products launch, agreements and collaborations, partnerships, joint ventures, mergers and acquisitions, were some of the major strategies adopted by the players during the study period between January 2009 and December 2011. Our research indicates that agreements, partnerships, collaborations, and new joint ventures form a major growth strategy in the Global Biomarker Market accounting for a 42% share in this market.
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