Currently, the global biomarker market booming, estimated at $40.6 billion this year. But it’s only getting bigger, according to Kalorama Information’s report, which indicates that it will reach $53.6 billion by 2020.
Biomarkers are used for diagnostic applications including predicting disease risk, diagnosis, predicting prognosis, identifying appropriate therapy for an individual, monitoring disease or for return of a disease and are integral to drug development moving forward.
The Kalorama report lists more than 120 companies that are involved in making biomarker-based tests – what is now considered a very competitive market.
As the company indicated in its press release:
The report said that of the activity in the development and use of new biomarkers is in the field of oncology, where both single biomarkers and also biomarker panels are being developed and used for a wide range of applications – assessing risk of developing cancer, screening apparently healthy individuals for cancer, diagnosis of cancer, predicting prognosis, monitoring patients including monitoring for recurrence of disease, and determining the best therapy for treatment of a patient. bioMérieux, Qiagen, Alere, Abbott and Roche are among the companies in the report.
Photo: Flickr user Aaron Shumaker
