Biomarker research services market analysis | Coherent Market Insights

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• BIOMARKER RESEARCH SERVICES MARKET ANALYSIS
• Biomarker Research Services Market by Service
  Type (Biomarker Research Services, and CDx
  Research Services), By Disease Indication
  (Oncology, Cardiovascular Disorder, Infectious
  Disease, Neurological Disorder, Immunological
  Disorder, and Others), By End User (Hospitals,
  Specialty Clinics, and Diagnostic Centers) and By
  Region (North America, Latin America, Europe,
  Asia Pacific, the Middle East, and Africa) -
  Size, Share, Outlook, and Opportunity Analysis,
  2018-2026

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• Biomarkers are increasingly being used in all
  areas of medicine to help predict and
  characterize disease. The increasing focus on
  biomarkers is expected to significantly drive
  demand for biomarkers research services in
  development and validation of new biomarkers.
  Biomarker research services are provided by
  various contract research organizations for
  discovery, development, validation, and testing
  of biomarkers. Different companies provide
  different types of research services to their
  clients, however, most common types of services
  include discovery of a candidate biomarker,
  qualification, verification, research assay
  optimization, biomarker validation, and
  commercialization. Research institutes,
  pharmaceutical organizations, and biotechnology
  companies partner and collaborate with biomarker
  research service providers for development,
  validation, and commercialization of biomarkers,
  as well as companion diagnostics. Companion
  diagnostic is a diagnostic test used with a
  therapeutic drug to determine the drugs
  applicability in a specific person. Companion
  diagnostics are developed based on companion
  biomarkers, biomarkers that prospectively help
  predict response, or severe toxicity of a
  therapeutic drug.

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• Increasing diagnostic applications of biomarkers
  is expected to boost global biomarker research
  services market growth over the forecast period
• The use of biomarkers for diagnostics is
  increasing due to certain features of biomarkers,
  which include rapid detection of specific
  diseases. Biomarkers are used in a wide variety
  of neurological diseases, metabolic disorders,
  immune deregulation, and oncology. These help
  with detection of diseases such as, cancer and
  Alzheimers. Biomarkers are further used to
  detect Hemolytic disease of the newborn,
  Huntington disease, hereditary Hemochromatosis,
  and cystic fibrosis. In February 2018, U.S. Food
  and Drug Administration (FDA) granted marketing
  authorization to Banyan Biomarkers, Inc. for the
  first diagnostic blood test for traumatic brain
  injury, named Banyan BTI. Such innovations that
  target different indications are expected to
  increase demand for biomarkers. Therefore,
  increasing use of biomarkers in diagnosis of
  various diseases is expected to propel global
  biomarker research services market growth.
  Moreover, pharmaceuticals as well as
  biotechnology organizations are still lacking
  biomarker research capability for which they will
  need to employ services of contract research
  organizations.

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• Figure 1. Global Biomarker Research Services
  Market Share (), by Region

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High prevalence of chronic diseases is expected
to boost growth of the global biomarker research
services market over the forecast period

• High prevalence of diseases such as cancer,
  cardiovascular diseases, and neurological
  diseases is expected to increase demand of
  biomarkers for diagnosis and treatment of these
  diseases. This, in turn, is expected to lead to
  high demand for biomarker research services,
  thereby boosting the market growth over the
  forecast period. For instance, according to World
  Health Organization (WHO), in February 2018,
  cancer was the second-leading cause of death
  worldwide, accounting for 8.8 million deaths.
  According to the data published by American Heart
  Association, in 2018, cardiovascular diseases,
  listed as the underlying cause of death,
  accounted for around 836,546 deaths in the U.S.
  which is around 1 in every 3 deaths in the U.S.
  Moreover, around 2,300 deaths are registered in
  the U.S due to cardiovascular diseases each day,
  with an average of 1 death in every 38 seconds.
  Furthermore, increasing application and approval
  of companion diagnostics is expected to spur
  manufacturers to invest in research and
  development of companion diagnostics. For
  instance, in April 2019, Qiagen N.V. announced
  the U.S. launch of the therascreen FGFR RGQ
  RT-PCR Kit (therascreen FGFR Kit) as a companion
  diagnostic to help guide the use of the newly
  approved FGFR kinase inhibitor, BALVERSA
  (erdafitinib), developed by Janssen Biotech, Inc.
  (Janssen).

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Figure 2. Global Biomarker Research Services
Market Share () by Service Type

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• However, development of biomarkers requires high
  investments due to cumbersome biomarker
  validation and testing processes. This, in turn,
  is expected to hamper global biomarker research
  services market growth.
• Some major players operating in the global
  biomarker research services market include Noble
  Life Sciences, Inc., Reprocell Corporation,
  Coriell Institute, BioIVT, ICON Plc., SRI
  International, Inc., Charles River Laboratories,
  Inc., Nordic Bioscience A/S, Proteome Sciences
  Plc., and Covance Inc. (Laboratory Corporation of
  America Holdings, Inc.)

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