PRLog - July 23, 2012 - LONDON -- Between 2011 and 2016, the world market will grow with a CAGR of 11.0%. Increased use of biomarkers in drug development will drive growth. Those findings appear in Biomarkers: Technological and Commercial Outlook 2012-2022, published in July 2012.
Biomarkers: Technological and Commercial Outlook 2012-2022
Visiongain forecasts that biomarker diagnostics will be the biggest sector of the market in 2022, overtaking biomarker development and technologies, in terms of revenue, in 2017. In 2011, biomarker diagnostics achieved revenue of $5.55bn. Increased demand for companion diagnostics and non-invasive tests will drive growth in this sector. Leading market players include pharmaceutical companies co-developing drugs and diagnostics - such as Roche Diagnostics - and leading diagnostic developers, including Genomic Health and Myriad Genetics.
Richard Lang, a pharmaceutical industry analyst in visiongain, said: “Doctors, patients and healthcare payers are demanding new tools for early and accurate diagnosis of disease. Biomarkers represent a strong opportunity for the development of non-invasive diagnostic and prognostic tests. Identifying the most suitable treatment for a patient will cut healthcare spending and help avoid potential adverse events. Other drivers for growth in the biomarkers market in coming years will be the increased validation of biomarkers. Many markers were discovered in the past decade but relatively few have been commercialised.”
This study forecasts the future of three key disciplines in the biomarkers market: genomics, proteomics and bioinformatics. In 2011, genomics accounted for the largest share of biomarker research, driven by initiatives such as The Cancer Genome Atlas and the International Cancer Genome Consortium. In the coming 10 years newer disciplines for biomarker discovery, including metabolomics and glycomics, will receive greater attention.
Visiongain’s report also provides revenue forecasts for leading national markets for biomarker diagnostics and technologies. In 2011, the US was the leading market for biomarkers, accounting for over 60% of global revenues in that year. Strong growth is forecast for that national market, driven by the approval of diagnostics and the integration of biomarkers into drug development. Many of the market leading companies are based in the US. Increasing availability of biomarker technologies in China will drive market growth there. In 2016, that national market will be valued at $0.66bn.
Biomarkers: Technological and Commercial Outlook 2012-2022 assesses the market in terms of sector, discipline, therapeutic area and country. The study adds to visiongain’s portfolio of analytical reports covering the pharmaceutical and healthcare technology markets. Visiongain is a business information provider based in London, UK.
For sample pages and further information concerning the visiongain report Biomarkers: Technological and Commercial Outlook 2012-2022 please visit: http://www.visiongain.com/
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