The global clinical biomarkers market is expected to reach a market size of USD 38.79 Billion by 2027 and register a robust double-digit CAGR over the forecast period, according to the latest report by Emergen Research. Rising need for customized medication worldwide, increasing investment in R&D initiatives to develop more efficient biomarkers, and rising prevalence of cardiovascular diseases, disorders, and cancers are key factors expected to drive growth of the global biomarker market over the forecast period.Click the link to get a Free Sample Copy of the Report @ [URL]https://www.emergenresearch.com/request-sample/23[/URL]
Biomarkers are used for risk identification, genetic detection, detection of pathogens, DNA fingerprinting, and other biological applications. Biomarkers allow pharmaceutical firms to evaluate and discover novel medicines when demand is growing for a more cost-effective and productive dose of medication. Biomarkers are used to verify and assess medicines, prepare samples, and establish assays to reduce uncertainty in the creation and production of novel drugs.
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Some Key Highlights from the Report
Based on the type, the validation segment is expected to register a CAGR of 10.6% over the forecast period due to extensive use of this product form in the pharmaceuticals industry, as these aid in detecting drug therapy failure by recognizing non-responders with distinct genetic profiles and weak therapeutic profiles.
The cardiovascular disease segment is expected to register a CAGR of 10.4% during the forecasted period due to rising focus on discovering cardiac biomarkers to achieve a better understanding of the pathophysiology of these diseases.
Drug discovery and development segment accounted for a significantly large revenue share in the global clinical biomarkers market in 2019. This segment also accounted for majority share of 38.2% among the other application segments in the North America market in 2019.
North America dominated other regional markets in the global clinical biomarkers market with a revenue share of 39.9% in 2019. This can be attributed to rising prevalence of chronic diseases and illness and ambitious policy initiatives along with regional involvement of regulatory authorities, as well as key players in the industry.
Key participants include Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Siemens Healthcare Private Limited, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Qiagen, Abbott Laboratories, Epigenomics AG, and Meso Scale Diagnostics LLC.
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