Biomarkers are used for various purposes such as disease diagnosis, prognosis, prediction, and assessment of treatment response. Diagnostic biomarkers have early inferences for the detection of patent ductus arteriosus (PDA). Predictive markers provide personalized treatment regimens and prognostic markers predict patient survival and recurrence patterns.
Biomarkers are used for clinical diagnostics for detecting multiple diseases, for instance, creatinine for diagnosing renal insufficiency, troponin level for diagnosing myocardial infarction, and amylase for pancreatitis. Biomarkers provide an approach in understanding the dynamics of neurological disease with the contribution in applications of analytical epidemiology and clinical trials. Diagnostic biomarkers can extend the base of information of the underlying pathology of disease along with providing means for homogeneous classification of a disease's possible factors that are a risk for the body.
COVID-19 Impact analysis
- As the number of COVID-19 cases and deaths continue to rise steadily worldwide, the common goal of scientists, healthcare providers, and government officials worldwide has been to find the best way to detect and treat the viral infection of the COVID-19 virus.
- Precise detection, effective treatment, timely diagnosis, and future prevention are the vital keys to the management of COVID-19, and can help curb the viral spread. Traditionally, biomarkers play a crucial role in the early detection of disease etiology, diagnosis, and treatment. Therefore, COVID-19 has a positive impact on the diagnostic biomarkers market.
Top Impacting Factors
High prevalence of cancer and other chronic disorders is the key driver for market growth.
Increasing diagnostic applications of biomarkers and rising R&D funding for pharma and biotech companies are few factors responsible for propelling the diagnostic biomarkers market growth.
Moreover, low cost of clinical trials in developing countries and new initiatives for research contribute toward the growth of the global diagnostic biomarkers market.
Biomarkers are prominently used in application areas such as personalized medicines, companion diagnostics, and other diagnostic areas, including drug discovery & development and disease risk assessment. These increasing diagnostic applications of biomarkers are expected to drive market growth in the forecasted years.
Advancements in laboratory techniques and expansion of the molecular biology sector are other key factors stimulating the growth of the diagnostic biomarker market.
On the other hand, poorly suited regulatory and reimbursement systems, high capital investments, low cost-benefit ratio, and technical issues related to sample collection & storage are the major factors restraining the growth of this market.
Market Trends
New product launches to flourish the market
- On August 27, 2020, a U.S.-based software company, Translational Imaging Innovations Inc., which is fast-tracking the development of diagnostic biomarkers of eye disease via its novel image management & analytics software, announced that it had been awarded an SBIR (Small Business Innovation Research) award, worth USD 1.5 million by the National Eye Institute of the NIH.
- On August 5, 2020, an Israeli start-up, Sight Diagnostics, developing a machine-vision-based finger-prick analysis device, announced that it had raised USD 71 million in Series D funding. The company suggests that its platform may offer a significant role in the early detection of conditions such as cancer, sepsis, and is currently investigated for potential use in monitoring biomarkers tied to the coronavirus severity.
Surge in usage due to cancer
- Owing to the growing prevalence of cancer worldwide, the use of cancer biomarkers has increased significantly in recent years, providing opportunities for improving the management of cancer patients by enhancing detection and efficacy of treatment. Cancer biomarkers are present in tumor tissues or sera and encompass a wide variety of molecules, including mRNA, DNA, transcription factors, cell surface receptors, and secreted proteins. These biomarkers can be used for the prognosis and predicting the natural course of a tumor. They can further help doctors decide which patients are likely to respond to a given drug (prediction) and at what dosage it might be most effective (pharmacodynamics).
Key Benefits of the Report
- This study presents the analytical depiction of the diagnostic biomarkers along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the diagnostic biomarkers market share.
- The current market is quantitatively analyzed to highlight the diagnostic biomarkers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed diagnostic biomarkers market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Diagnostic Biomarkers Report
- Who are the leading market players active in the diagnostic biomarkers market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "diagnostic biomarkers "?
- What is "diagnostic biomarkers " market prediction in the future?
- Who are the leading global players in the "diagnostic biomarkers " market?
- What are the current trends and predicted trends?
- What are the key benefits of the "diagnostic biomarkers " market report?
Diagnostic Biomarkers Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | Enzo Biochem, Inc., Bio-Rad Laboratories, Inc., EKF Diagnostics Holdings, Inc., Biomedical Corp., Meso Scale Diagnostics, LLC., Merck Millipore, Qiagen N.V., Banyan Biomarkers, Inc,, Signosis, Inc, Cisbio Bioassays, Perkinelmer, Inc., Biosims Technologies Sas |
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