Tumor cells when dying, release small pieces of their DNA into the bloodstream and these strands are known as cell-free circulating biomarkers. These biomarkers are becoming the part and parcel of healthcare management owing to their application in monitoring progression of a disease, performing a biopsy, and deciding a treatment regimen. They are used for therapeutics and diagnosis of broad array of specialties such as cardiovascular, immunology, neurology, cancer, and metabolic diseases.
The report on the global circulating biomarkers market serves as a reliable business tool providing information regarding several important parameters of the market including its dynamics, regional outlook, and vendor landscape. It analyzes the business strategies, latest developments, and cost and revenue structure of key players in the market and profiles them. A separate section of recommendations is presented in the report for both existing and new players in the market. It takes into consideration historic as well as current scenario to forecast the future trends of the global circulating biomarkers market.
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The rising prevalence of cancer is the foremost factor augmenting the global circulating biomarkers market. Circulating biomarkers can be effectively applied to every stage of cancer patient care. It can be used as a reliable screening method as circulating tumor DNA (ctDNA) is detected at both early and advanced stages in the majority of cancer types.
The growing awareness regarding their merits, thanks to government initiatives and conferences, is providing a fillip to the market. These biomarkers are instrumental in informing treatment decision and revolutionizing personalized medicine. The Food and Drug Administration (FDA) estimates that an improvement of 10% in the ability to calculate drug failures before clinical trials can save up to US$100 mn in costs of development per drug. The increasing funding from public and private organizations for the development of these biomarkers is also working in favor of the market. On the other hand, the lack of clear regulatory and reimbursement scenario is hampering the growth of the global circulating biomarkers market.
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Global Circulating Biomarkers Market: Regional Outlook
The key segments analyzed in the report on the basis of geography are Asia Pacific, North America, Europe, and Rest of the World. North America is anticipated to account for a substantial share in the revenue pie of the global market. The increasing prevalence of cancer in this region is translating into the greater uptake of biomarkers for drug delivery as well as cancer treatment. A report by the American Cancer Society indicates that there were nearly 1,685,210 new cancer cases diagnosed and 595,690 cancer deaths in the U.S. in 2016. Moreover, the growing adoption of targeted therapies for treating patients with chronic diseases are driving the growth of the region.
Asia Pacific is expected to register noteworthy CAGR during the review period. The development of personalized medicine and more-targeted therapies is gaining significant momentum, which turn is propelling the growth of the region. The growth of this region can also be attributed to the advancements in sequencing technology and expanding population base in countries such as India, China, and Vietnam.
Global Circulating Biomarkers Market: Competitive Landscape
The strong foothold of pharmaceutical giants renders the global circulating biomarkers market highly competitive. Some of the key players in the market are Affymetrix Inc., Abbott Laboratories, Agilent Technologies Inc., Becton, Dickson and Company, Biocept Inc., Epigenomics AG, and GE Healthcare. The high financial and technological capabilities of these players are creating high entry barrier for new players interested in venturing into this market. Many players are adopting strategic mergers and acquisitions as key strategies to strengthen their position in the market.
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