"Designing Growth Strategies is in our DNA"
Biomarkers are used in all areas of medicine to predict, diagnose, characterize, or to treat a disease. A biomarker represents a biological molecule that is used efficiently and precisely to evaluate pharmacologic responses. Biomarker testing is used prominently in drug discovery and treatment of cancer. Validation of a biomarker is essential in delivery of high-quality research data necessary for effective use of biomarkers. Once a biomarker is validated, it is then used in drug development for disease identification or disease treatment. NeoGenomics, Inc. in 2017 announced the expansion of Immuno-Oncology profiling tests that includes microsatellite instability (MSI) testing and tumor mutation burden (TMB).
Increasing prevalence of the chronic diseases is leading to higher demand for the biomarkers. This factor is responsible for driving the growth of the global biomarkers validation and testing market. Additionally, increased investment in the drug discovery and development and high input in the research activities on the development of the diagnostics markers are some of the major factors driving the growth of the global biomarkers validation and testing market.
However, numerous challenges faced by pharmaceutical company researchers in biomarker validation and testing is the factor restraining the growth of the global biomarkers validation and testing market. In addition, high-cost of biomarker validation immuno-assays is likely to have negative impact on the growth of the global market.
Key Market Driver -
Increasing R&D for drug discovery and development
Key Market Restraint -
Challenges faced in biomarker validation and testing
By technique, the market is segmented into biomarker immunoassays, flow cytometry and others. Based on applications, the market is segmented into oncology, drug discovery & development and others. Based on end-users, the Biomarkers Validation and Testing Market is segmented into pharmaceutical & biotechnology companies, research institutes & CRO’s and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global biomarkers validation and testing market report include LGC Limited, SGS SA, BiomarkerBay B. V, Intertek Group plc, Eurofins Central Laboratory, AnyGenes, NeoGenomics Laboratories, Inc., GP-Bio Inc, Covance Inc., and others.
Geographically the global biomarker validation and testing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among the regions, North America accounted for the largest share of the global biomarkers validation and testing market in 2018. The leading position is attributable to the high investments in research and development of the biomarkers, increasing prevalence of cancer, and adoption of personalized medicine by patient pool. Asia Pacific region is anticipated grow at a higher CAGR owing to rise in cancer diagnostic test by patients, need for accurate diagnostics and validation of assays for drug development and discovery as well as strong government backup and funding to launch novel drugs in the market. Latin America and Middle East & Africa are expected to have slower market growth owing to less R&D investments and lack of awareness for technological advancements.
To gain extensive insights into the market, Request for Customization
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry