Growth in market is due to rise in R&D activities & surge in prevalence of diseases such as various types of cancer, diabetes type 1, AIDS, and others.
PORTLAND, OR, UNITED STATES, October 29, 2020 /EINPresswire.com/ — UPDATE AVAILABLE ON-DEMAND
The report on the global biomarker technologies market highlights that the market is expected to reach $21.59 billion by 2018, from $58.50 billion in 2026, growing at a CAGR of 13.2% from 2019 to 2026. The report offers the current market size and forecasts along with Porter’s Five Forces analysis to help market players, stakeholders, startups, and investors to determine the current scenario and take further steps for the future. Drivers and opportunities for highest revenue generating and fastest growing segments would help in tapping into specific segment to achieve growth. Moreover, regional analysis would assist in expansion strategies for the market players and startups.
The biomarker technologies report offers an in-depth analysis of the Covid-19 impact on various market segments and countries. Moreover, the report offers major market trends and forecasts, considering the Covid-19 situation.
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Rise in prevalence of various diseases, surge in R&D activities in healthcare coupled with increase in adoption of early toxicity testing, advantages offered by biomarker in drug development, and rapid escalation in genome mapping programs drive the growth of the global biomarker technologies market. On the other hand, high initial capital investments required for biomarker discovery and lack of awareness regarding the use of biomarker technologies check the market growth to some extent. However, high potential of the emerging economies is expected to create lucrative opportunities for the key players in the industry.
The consumables segment to rule the roost-
Based on product, the consumables segment accounted for more than two-third of the total market segment in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to the crucial role consumables play in biomarker testing. The instruments segment, on the other hand, is projected to grow at the fastest CAGR of 14.1% through 2019–2026.
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The immunoassay segment to retain its top status during the study period-
Based on technology, the immunoassay segment contributed to nearly half of the total market share in 2018 and is anticipated to lead the trail during the estimated period. Rise in prevalence of various types of cancers such as breast cancer, prostate cancer and others has spurred the growth. At the same time, the next generation sequencing segment is predicted to cite the fastest CAGR of 15.1% till 2026.
North America to maintain its dominance through 2019–2026-
Based on geography, North America held more than two-fifth of the market share in 2018 and is anticipated to dominate during the period 2019–2026. Surge in R&D related to drug discovery, easy availability of instruments and consumables, availability of trained technicians, and high prevalence of diseases such as cancer and autoimmune diseases have augmented the growth. Simultaneously, the Asia-Pacific region would showcase the fastest CAGR of 14.8% till 2026.
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The major companies profiled are:
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche AG
• Illumina, Inc.
• LI-COR, Inc.
• Merck KGAA
• PerkinElmer Inc.
• Shimadzu Corporation
• Thermo Fisher Scientific, Inc.
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Source: EIN Presswire