Global Biomarkers Market Trends and Forecast to 2022 - By Product Type (Consumables, Services), By Technology (Predictive, Pharmacodynamic, Safety), Application (Diagnostics, Drug Discovery, Personalized Medicine), Indication (Cardiovascular, Immunological) By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)

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Biomarkers are substances or activities that serve as markers of a specific biological activity. Biomarkers are extensively used in research and diagnostic applications. In addition to this, they are also used in the development of new drug therapies through the discovery of new target drugs. The global biomarkers market is expected to reach USD 62.0 billion by 2022, at a CAGR of 12.1% from 2016 to 2020. Factors such as increasing healthcare expenditure, increase in R&D funding, rising utility of biomarkers for diagnostic purposes, growing number of CROs, low-cost for conducting clinical trials in developing countries, and new initiatives for biomarker research are driving the growth of the biomarkers market. On the other hand, high capital investments and high cost-to-benefit ratio; regulatory and reimbursement challenges; and high cost of testing, sample collection, and storage are the major factors restraining the growth of this market.

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