Global Diagnostic Biomarker Market Research and Forecast 2018-2023

Diagnosis is defined as an assessment to identify the root cause of an illness and the effects caused by the diseases or illness. It enables to determine the symptoms caused by the illness, and solution to overcome the disease. The diagnostic biomarker are substances that are used to identify the presence of different disease in an individual. The biomarker are required so that treatment can be done according to the type of diseases diagnosed. The diagnostic biomarker are used in many ways such as some of the biomarker are utilized to assess an individual’s chances of developing diseases, some are utilized for detection of any diseases at initial stages that is for screening and identification that is for diagnosis. Diagnostic biomarker are used to determine whether a patient has a particular medical condition for which the treatment can be indicated, or an individual should be enrolled in a clinical trial studying the disease.

Rising prevalence of chronic diseases such as cancer and cardiology diseases are significantly rising the demand for research and development of diagnostic biomarker. Further, extensive research institutes focused on diagnostic biomarker and significant growth in the sector of molecular biology are also considered to be the major factors that are driving the growth of the market. The increasing R&D are expected to fuel the growth of the market. For instance, in Canada, Movember Foundation are innovating new diagnostic biomarker, treatment targets, and support for men living with prostate cancer. Further, advancements in various laboratory techniques and advances in biomedical technologies such as micro-RNA are expected to fuel the market. However, high capital investments are required and profit ratio is low and limited availability of the resources are expected to hinder the growth of the market. Active funding opportunities for research institutes and increasing demand of personalized medicine are expected to create enormous opportunities for the global diagnostic biomarker market.

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The global diagnostic biomarker is segmented on the basis of application, diagnostic technique and end user. On the basis of application, the market is segmented into oncology, cardiology, neurology, nephrology and other. There is huge scope for the market in oncology segment due to increasing prevalence of cancer across the globe. large number of research is going on finding diagnostic biomarker for various types of cancer so that early detection can be done. Further, on the basis of diagnostic technique, the market is segmented into ELISA, colorimetric assay, liquid chromatography-mass spectrometry, particle-enhanced turbidimetric immunoassay and other. ELISA diagnostic technique has considerable share in the market as ELISA test can be used for the diagnosis of Lyme diseases, HIV, pernicious anemia, rotavirus, squamous cell carcinoma, Zika virus, and many more. ELISA is performed in four ways: indirect ELISA, direct ELISA, sandwich ELISA and competitive ELISA. On the basis of end user, the market is segmented into hospitals, diagnostic labs and research centres. Research centres holds the largest market share in the market due to the presence of large number of research institute focused on discovery of innovative biomarkers across the globe.

Furthermore, the global Diagnostic Biomarker market is classified on the basis of geographical regions, including North America, Europe, Asia Pacific & RoW. North America leads the global diagnostic biomarker market followed by Europe and APAC. The growth of the North American market is attributed to the increasing government support for biomarker discovery and development and growing usage of biomarker in drug discovery & development by the pharmaceutical companies within the region. Furthermore, APAC is estimated to witness the highest growth rate owing to the favorable government funding for biomarker research and increasing prevalence of cancer within the regional countries. Rising focus of international players in emerging economies and growing demand for advanced healthcare facilities in developing countries such as China and India are the other key factors that have attributed extensively towards the growth of the diagnostic biomarkers market in APAC market.

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