A
biomarker also known as biological marker is a gene, molecule or
characteristic by which biological state of the body is measured in
order to assess and predict a particular disease or some other
physiological state of an individual. It helps clinicians in disease
identification and effectively plan treatment process. Biomarkers are
extensively applied for diagnosis and clinical decision making in
various medical specialties including cancer, diabetes,
cardiovascular and neurological diseases. Owing to its ability to
diagnose diseases at an early stage, biomarkers are extensively used
in the cancer diagnosis and treatment. The global market for
biomarker discovery technologies has been segmented into omics
technology (proteomics, genomics and transcriptomics), imaging
technology and bioinformatics. Omics technology represents the
largest segment of the biomarker discovery technologies market. In
terms of application, the market has been segmented into drug
discovery, diagnostics and personalized medicine. The market can also
be segmented such as oncology, diabetes, cardiology, neurology and
others, in terms of disease application.
The
market for biomarker
technologies is expanding worldwide under the influence of
factors such as advances in the area of discovery technologies,
governmental initiatives supporting research in the area of biomarker
technologies and increasing incidences of various diseases such as
cancer, diabetes, cardiovascular and neurological disorders. Sources
from National Cancer Institute (NCI) reveal that in 2011,
approximately 13,397,159 people were affected with various cancer
types in the United States. The National Cancer Institute (NCI)
further states that an estimated 1,666,540 new cases of cancer are
expected to be identified during 2014 in the United States. According
to the International Diabetes Federation (IDF), worldwide nearly 382
million people were living with diabetes in 2013. This number is
expected to reach nearly 592 million by the end of 2035. China and
India represent the first and second positions among top countries
with high prevalence of diabetes, 98.4 million and 65.1 million
respectively. The aforementioned stats indicate a favorable market
for biomarker technologies during coming years. The market may face
significant challenge due to high initial investment for biomarker
discovery.
Globally,
the market for biomarker technologies has been segmented into North
America, Europe, Asia-Pacific and Rest of the World (RoW). The market
for biomarker technologies is mainly dominated by North America,
followed by Europe, Asia-Pacific and Rest of the World (RoW). Well
established healthcare infrastructure and favorable reimbursement
scenario are among the major factors responsible for North America’s
leading position. Asia-Pacific is likely to emerge as the high
potential market during upcoming years. Presence of a large number of
patients with cancer and diabetes, emerging economies of India and
China, and improving healthcare infrastructure are some major factors
that are expected to drive the market growth in the region.
Conducting of clinical trials at low cost as compared to developed
region is one of the major factors that attract multinational
companies to invest in the growing market of Asia-Pacific. RoW region
comprise Latin America, Africa and Middle East countries. Lack of
awareness, low per capita income and poor healthcare infrastructure
have been among major factors restraining the market growth in the
region since long. However, during coming future, the market will
witness a substantial growth in the region owing to growing awareness
and economical growth.
Abbott
Laboratories, Becton, Dickinson and Company, Affymetrix Inc., Agilent
Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation,
Gen-Probe Inc., F. Hoffmann La Roche Ltd., DiagnoCure Inc., and
Siemens Healthcare are some major companies operating in the
biomarker technologies market.
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