MarketsandMarkets: Global Biomarker Market Worth US$ 20.5 Billion by 2014
The global biomarker market is estimated to be $20.5 billion by 2014, growing at a CAGR of 19.7 % from 2009 to 2014, driven by the high demand for the biomarkers in the field of drug discovery. The markets for biomarker tools and services are expected to grow at a CAGR of 18.5% and 22.2% respectively. The increasing use of biomarkers in clinical services is boosting the overall biomarker service market.
The high growth of biomarker market is boosted by the demand from the baby boomer generation in the U.S., and from Asia's emerging IT industry. Biomarker applications are increasing in cancer diagnosis as novel tools are being developed to increase the discovery speed of cancer biomarkers. The use of proteomics in biomarker testing and identification has in turn boosted the services for the biomarkers. Market players are now focusing on new product and service development to enhance their commercial portfolios. Strategic collaborations among companies are also increasing biomarker applications in the field of diagnosis and drug discovery.
These are results form The Global Biomarker Market report. The Global Biomarker Market report analyzes the biomarker tools and services market over the period 2009-2014. The report studies the major market drivers, restraints, and opportunities for the global biomarker market; and also evaluates the major trends in the macro- and micro-markets with respect to different geographic regions.
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