The global biomarker market is estimated to be $20.5 billion by 2014, growing at a CAGR of 19.7 % from 2009 to 2014, driven by the high demand for the biomarkers in the field of drug discovery. The markets for biomarker tools and services are expected to grow at a CAGR of 18.5% and 22.2% respectively. The increasing use of biomarkers in clinical services is boosting the overall biomarker service market.
The high growth of biomarker market is boosted by the demand from the baby boomer generation in the U.S., and from Asiaâ€˜s emerging IT industry. Biomarker applications are increasing in cancer diagnosis as novel tools are being developed to increase the discovery speed of cancer biomarkers. The use of proteomics in biomarker testing and identification has boosted the services for the biomarkers. Market players are now focusing on new product and service development to enhance their commercial portfolios. Strategic collaborations among companies are also increasing biomarker applications in the field of diagnosis and drug discovery.
This analyst briefing focuses on the biomarker market over the period 2009-2014.The agenda for the briefing includes discussion on key high growth market, marking the growth trend in the tools and services for biomarkers. Furthermore, a briefing will be conducted on the competitive scenario and geographic opportunities for the similar topic. It analyzes the major opportunities for the global biomarker market; and also evaluates the major trends in the macro- and micro-markets with respect to different geographic regions. Biomarker has its applications in the areas of drug discovery and diagnosis. These applications are increasing in diagnosis of diseases such as cancer and novel tools are being developed to increase the discovery speed of similar biomarkers. The biomarker clinical services are growing at a high growth rate owing to the high efficiency of biomarkers in the drug discovery process. Many pharmaceutical and biotechnology companies are developing biomarkers to reduce the cost associated with the development of drugs and for early diagnosis of a disease.
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