Increasing support to R&D from pharmaceuticals and biotech firms and low cost of clinical trials in developed economies are key factors driving market growth
VANCOUVER, BC, CANADA, April 25, 2022 /EINPresswire.com/ — The global clinical biomarkers market is expected to reach a market size of USD 38.79 Billion by 2027 and register a robust double-digit CAGR over the forecast period, according to the latest report by Emergen Research. Rising need for customized medication worldwide, increasing investment in R&D initiatives to develop more efficient biomarkers, and rising prevalence of cardiovascular diseases, disorders, and cancers are key factors expected to drive growth of the global biomarker market over the forecast period.
Biomarkers are used for risk identification, genetic detection, detection of pathogens, DNA fingerprinting, and other biological applications. Biomarkers allow pharmaceutical firms to evaluate and discover novel medicines when demand is growing for a more cost-effective and productive dose of medication. Biomarkers are used to verify and assess medicines, prepare samples, and establish assays to reduce uncertainty in the creation and production of novel drugs.
Factors such as growing partnerships and support for R&D programs, rising patient awareness, increasing patient pool, and inclining focus on improving product and business expansion through technical advancements are supporting growth of the market.
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Key Highlights From The Report
Based on the type, the validation segment is expected to register a CAGR of 10.6% over the forecast period due to extensive use of this product form in the pharmaceuticals industry, as these aid in detecting drug therapy failure by recognizing non-responders with distinct genetic profiles and weak therapeutic profiles.
The cardiovascular disease segment is expected to register a CAGR of 10.4% during the forecasted period due to rising focus on discovering cardiac biomarkers to achieve a better understanding of the pathophysiology of these diseases.
Drug discovery and development segment accounted for a significantly large revenue share in the global clinical biomarkers market in 2019. This segment also accounted for majority share of 38.2% among the other application segments in the North America market in 2019.
This section of the report offers valuable insights into the geographical segmentation of the Clinical Biomarkers market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Clinical Biomarkers market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
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The Global Clinical Biomarkers Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows:
Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Siemens Healthcare Private Limited, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Qiagen, Abbott Laboratories, Epigenomics AG, and Meso Scale Diagnostics LLC.
The report conducts a comparative assessment of the leading market players participating in the global Clinical Biomarkers market.
The report marks the notable developments that have recently taken place in the Clinical Biomarkers industry
It details on the strategic initiatives undertaken by the market competitors for business expansion.
It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Clinical Biomarkers market value chain.
The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
Key questions addressed in the report:
Who are the leading players dominating the global Clinical Biomarkers Market?
Which factors could potentially hamper the global market growth during the forecast period?
Which regional market offers the most attractive growth opportunities to the companies operating in this market?
How is the raw material availability affecting the demand for Clinical Biomarkers in this industry vertical?
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Finally, all aspects of the Clinical Biomarkers Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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