Biomarker Technologies Market to Reach $58.50 Bn, Globally, by 2026 at 13.2% CAGR, Says Allied Market Research

Rise in prevalence of various diseases, surge in R&D activities in healthcare coupled with increase in adoption of early toxicity testing, advantages offered by biomarker in drug development, and rapid escalation in genome mapping programs drive the growth of the global biomarker technologies market.

PORTLAND, Oregon, June 19, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Biomarker Technologies Market by Product (Consumables, and Instruments), Technology (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Immunoassay, and Others), and Application (Drug Discovery, Diagnostics, and Personalized Medicine), and Indication (Cancer, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." The report provides a detailed analysis of the market, including key winning strategies, industry drivers and restraints, market size & forecast, top investment pockets, competitive scenario, and wavering market trends. According to the report, the global biomarker technologies market was estimated at $21.59 billion in 2018 and is expected to hit $58.50 billion by 2026, registering a CAGR of 13.2% during the forecast period.

Rise in prevalence of various diseases, surge in R&D activities in healthcare coupled with increase in adoption of early toxicity testing, advantages offered by biomarker in drug development, and rapid escalation in genome mapping programs drive the growth of the global biomarker technologies market. On the other hand, high initial capital investments required for biomarker discovery and lack of awareness regarding the use of biomarker technologies check the market growth to some extent. However, high potential of the emerging economies is expected to create lucrative opportunities for the key players in the industry.

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The consumables segment to rule the roost-

Based on product, the consumables segment accounted for more than two-third of the total market segment in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to the crucial role consumables play in biomarker testing. The instruments segment, on the other hand, is projected to grow at the fastest CAGR of 14.1% through 2019–2026.