Pune, India, Dec 27, 2021 (GLOBE NEWSWIRE) – The global biomarker technologies market is expected to be valued at US$32,600.71 million in 2021 and is projected to grow at a compound annual growth rate of 11.3% during the forecast period, according to the latest market analysis by Quince Market Insights. A biomarker is an observable physical, cellular, or chemical change and a normal or abnormal action in the human body that can be studied. Treatment effects, progression, incidence or risk of any type of disease can be checked by studying any modification in the normal amount of a vital sign. The increasing number of elderly is expected to contribute to the global biomarker technology market.
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The biomarker technologies market is expected to be driven by the increasing prevalence of diseases such as prostate, lung and breast cancer, and the advancement in medical technologies. Several initiatives have been taken by the government to support research into vital sign technologies and the increasing use of vital signs to increase the accuracy of disease diagnosis, which is expected to boost market growth. Moreover, the increasing number of capital investments required to discover and expand the biomarkers market are other driving factors for the biomarkers technologies market.
On the other hand, the lower cost required to conduct clinical trials in developing economies is becoming a magnet for multinational companies to increase investment in clinical trials. However, low per capita income and poor healthcare infrastructure in some regions are some of the factors that can hamper the growth of the global Vital Signs Technologies market.
Some of the significant market developments addressed in the report:
- May 2021 – QIAGEN NV has teamed up with Mirati Therapeutics to introduce the KRAS G12C Indicator for Non-Small Cell Lung Cancer that will expand QIAGEN’s KRAS testing portfolio.
- November 2020 – QIAGEN NV has teamed up with BiNTech to create and commercialize a tissue-based buddy analysis that will be used in conjunction with investigational malignant growth therapy.
- July 2020 – Thermo Fisher Scientific Inc. agrees. on arranging a symptomatic partner with Chugai Pharmaceutical to extend the use of the Oncomine Dx Target Test and then facilitate testing of proximal biomarkers of non-small cellular breakdown in the lungs of eligible ROZLYTREK treatment patients in Japan.
Impact of COVID 19 on the global biomarker technology market
The QMI team is closely monitoring the impact of COVID-19 on the global biomarker technologies market, and it has been noted that market demand is normal during the time of a pandemic. It is expected to grow sharply during the analysis period. To control the spread of the epidemic, many countries around the world have imposed strict lockdown standards, hampering all kinds of business activities. Few companies have actually announced potential product delivery delays and declining future sales of their products.
Global Biomarker Technologies Market, by Product
On the basis of product, the global biomarker technologies market is segmented into consumables, assays, reagents, and instruments. Among these, the consumer goods segment is expected to be the largest segment during the forecast period due to its higher sales volume. On the other hand, the reagents segment also holds the largest share after the consumables market.
Global Biomarker Technologies Market, by technology profiling
Based on profiling technology, the global biomarker technologies market is segmented into immunoassay, PCR (polymerase chain reaction), imaging technologies, mass spectrometry, NGS (next generation sequencing), chromatography, cytogenetics, and others. The immunoassay fragment is categorized into ELISA (enzyme-linked immunosorbent assay), western blot, and protein microarray array. The immunoassay is expected to be the largest segment during the prediction period. ELISA, a technology used in immunoassays, quantifies the protein level at the same time and also has the potential to speed up the validation of a protein biomarker for clinical use. This factor is expected to drive the sector’s growth.
Global Biotechnology Market by Application
On the basis of application, the global biomarker technologies market is segmented into drug discovery, diagnostics, and personalized medicine. Of these, drug discovery is expected to be the largest portion during the forecast period. The growth of the clip can be attributed to the increased use of biomarkers in drug discovery for various types of health problems and diseases such as cardiovascular problems, cancer, neurological problems, and others.
Global Biomarker Technologies Market, By Signal
Based on indicators, the global biomarker technologies market is segmented into cancer, infectious diseases, autoimmune disorders, cardiovascular disorders, and others. The infectious diseases segment is expected to be the fastest growing segment due to its increasing use in infectious diseases including differentiation between bacterial and non-bacterial infections, treatment response analysis, and outcome prediction.
Global Biomarker Technologies Market, By Research Region
Based on research area, the global biomarker technologies market is segmented into genomics, proteomics, and others. The proteins segment is also categorized into metabolic processes, metabolic flow, and lipids. Among these, genomics is expected to be the largest segment during the prediction period as it can diagnose genetic diseases by reducing genetic testing to a single analysis.
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Global Biomarker Technologies Market, by Region
On the basis of region, the global biometric technology market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is expected to hold the highest market share during the forecast period. The growth of the regional market can be attributed to the increasing incidence of cardiovascular diseases, cancer, autoimmune diseases and neurological disorders. Increasing elderly population and escalating healthcare expenditures will boost the growth of the regional market during the forecast period.
Some of the key outcomes of the Biomarkers Technologies Market report include:
- Profiles of the major market players operating in the global biomarker technologies market, which include Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Illumina, Inc., LI-COR, Inc., Merck KGAA and PerkinElmer Inc. and QIAGEN, Shimadzu Corporation, and Thermo Fisher Scientific, Inc.
- Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities and challenges prevailing in the global Biomarkers Technologies market
- Impact of COVID-19 on the global biomarker technology market
Browse key industry insights from the report, “Vital Sign Technology Market, by product (consumables, assays, reagents, instruments), profiling technology (immunoassay, PCR, imaging techniques, mass spectrometry, NGS, chromatography, cytogenetics, etc.), application (drug discovery, diagnostics, personalized medicine ), Signal (Cancer, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, etc.), Research Region (Genomics, Proteomics, etc.), Region (North America, Europe, Asia Pacific, Middle East, Africa and South America) In-depth analysis with a table of contents (ToC).
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