Dallas, Texas (PRWEB) September 29, 2013
A biomarker is an identifiable and measurable characteristic, which identifies the severity and/or occurrence of a specific disease. It has major applications in the discovery and development of novel therapeutic drugs. The global biomarkers market shows a high growth potential and accounts for $17.5 billion in 2013. It is expected to grow at a CAGR of 18.5% from 2013 to 2018, to reach $40.8 billion by 2018.
Advancements in discovery technologies, high demand from the indications of various diseases, increasing partnerships and collaborations to boost biomarker research activities, increase in government and private sector investments and funds for biomarker discovery, FDA support for biomarker development, and increasing utility of biomarkers in patient stratification and drug development process are the major drivers slated to propel the growth of this market. However, a few pivotal factors such as the high capital investment and low benefit-cost ratio, cumbersome biomarker validation procedure, and difficulty in sample collection and its storage are expected to hamper the growth of this market.
The global market has been segmented into discovery technologies, services, applications, and disease indications. The biomarker discovery technology market has been further segmented into omics technology, imaging technology, and bioinformatics. The omics technology segment accounts for the largest share in this market, primarily due to the increase in adopt
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