Albany, New York (PRWEB) June 19, 2014
Biomarkers also known as biological markers are characteristics that are measured in order to assess and predict biological condition of the body and thus help physicians in clinical decision making. Some major diseases which are diagnosed by using biomarkers include diabetes, cancer and cardiovascular and central nervous system diseases. Biomarkers play critical role in identifying and accurate diagnosis of these diseases at early stage and provide better treatment option. Imaging biomarkers can be classified as diagnostic biomarkers, monitoring biomarkers and predictive biomarkers. Diagnostic biomarkers are helpful in predicting a patient’s exact clinical outcome. Monitoring biomarkers provides clinical outcome of a patient after intake of a particular drug while predictive biomarkers help in predicting if a specific drug is likely to change clinical outcome of a patient.
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Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company, Affymetrix Inc., Danaher Corporation, Bio-Rad Laboratories Inc., F. Hoffmann La Roche Ltd., Gen-Probe Inc., DiagnoCure Inc., and Siemens Healthcare are some major companies operating in the imaging biomarkers market and compete with each other in order to get competitive advantage. Small companies with breakthrough technologies attract large players to form alliances and thus help them gain advantages over their competitors.
Globally, the market for imaging biomarkers is evolving due to its increasing popularity and extensive use in drug discovery processes. The industry has witnessed a significant use of imaging biomarkers in the drug discovery process during the last few years owing to its ability to identifying disease mechanism and drug toxicity profiling. High prevalence of diseases such as cancer, Alzheimer’s disease, diabetes, rheumatoid arthritis and other slow progressing diseases are driving the imaging biomarkers market growth globally. According to Surveillance, Epidemiology, and End Results Program of National Cancer Institute, approximately 13,397,159 people were living with all cancer types in the United States in 2011. The study conducted by of National Cancer Institute further states that during 2014, around 1,666,540 new cases of cancer are expected to be witnessed in the United States and approximately 585,720 deaths because of all cancer sites. Statistics from American Diabetes Association suggests that approximately 26 million children and adults are living with diabetes in the United States. American Diabetes Association further states that nearly 1.9 people are diagnosed with diabetes every year in the country. On the basis of high prevalence and incidence rate associated with the above mentioned diseases, it can be concluded that rising prevalence of these diseases are likely to drive the market growth during the coming years. However, the market may face significant challenges due to significant variance in platforms available across multiple sites and Lack of standard data. High cost associated with the development of imaging biomarkers may also hamper the market growth to some extent.
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Geographically, North America is the largest market for imaging biomarkers, followed by Europe, Asia-Pacific and Rest of the World (RoW). Well established healthcare infrastructure in the region is one of the key factors causing North America to lead the imaging biomarkers market globally. In Asia-Pacific region, the market is expected to grow under the influence of factors such as emerging economies (especially in India and China), continuously improving healthcare infrastructure and rising awareness regarding the imaging biomarkers and its application in drug discovery processes. Presence of large pool of patients living with various slow progressing diseases such as cancer and diabetes is also driving the market growth in the region.
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