Revenues in this segment will continue to rise due to the emergence of new disease threats, an increasing number of conditions attributable to aging demographic patterns, and the expanding availability and use of high value-added molecular tests.
ARLINGTON, Va. (PRWEB) April 16, 2021
Total global sales of biomarker test products are projected to reach nearly $63 billion in 2027 with the majority of sales coming from the United States, Western Europe, and Japan, according to new data by leading medical market research publisher Kalorama Information in the report The World Market for Diagnostic Biomarkers (Tumor, Cardiac, Infectious Disease, Autoimmune, Others). This amount will correspond to a 5.5% annual gain from levels in 2018.
Biomarkers include more than 1,000 substances that serve as reagents, consumables, and/or test components for several medical-related diagnostic and research applications. Substances that detect and measure genetic changes in patient samples are also included in Kalorama Information’s sales estimates. The global market for biomarker products is led by large multinational in vitro diagnostic (IVD) companies, including Abbott Diagnostics, Becton Dickinson, bioMérieux, Bio-Rad Laboratories, Danaher, Hologic, Ortho-Clinical Diagnostics, Roche Diagnostics, Siemens Healthineers, and Thermo Fisher Scientific.
Specific uses of biomarkers include:
- detection of human diseases and disorders
- identification and selection of appropriate therapies for diagnosed conditions
- monitoring of disease progression
- monitoring of the effectiveness of selected therapies
- detection of disease relapse or recurrence
- evaluation of new drug candidates as to safety and effectiveness
“Of the seven major segments of biomarker products, infectious diseases will account for the largest share of worldwide sales over the long term,” says Bruce Carlson, publisher for Kalorama Information. “Revenues in this segment will continue to rise due to the emergence of new disease threats, an increasing number of conditions attributable to aging demographic patterns, and the expanding availability and use of high value-added molecular tests.”
Applications in cancer testing, staging, and treatment assessment will comprise the second-largest segment of biomarker products based on global sales in 2027. Moreover, this segment will post the fastest worldwide revenue growth for biomarker products as the number of cancer patients continues to rise and medical providers upgrade capabilities for cancer testing, screening, monitoring, and therapy selection. New products based on liquid biopsies, next generation sequencing, and other advanced technologies will also serve to boost global sales of cancer biomarker products.
Other conditions and applications that will generate sales growth for biomarker products include:
- Cardiovascular diseases, which are the leading cause of death worldwide. Reagents, test kits, and consumables for the detection of coronary artery disease, high cholesterol, and congestive heart failure will command the largest share of revenues.
- Applications in regular patient physical examinations and pre- and post-hospital admission testing, which will see gains but will generate comparatively slow revenue growth due to competition from more sensitive molecular and rapid point-of-care (POC) tests.
- Biomarker products for neurological and autoimmune conditions will expand favorably as medical providers seek to improve testing and monitoring capabilities for increasingly problematic conditions such as Alzheimer’s disease, degenerative nerve and muscle disorders, Hashimoto’s thyroiditis, and inflammatory bowel disease.
- Inherited diseases, which will generate fast revenue growth among other biomarker product applications as advances in molecular technologies leads to the introduction of new, high value-added genetic tests.
For more insights on this market, purchase Kalorama Information’s The World Market for Diagnostic Biomarkers (Tumor, Cardiac, Infectious Disease, Autoimmune, Others).
About Kalorama Information:
Kalorama Information, part of Science and Medicine Group, is the leading publisher of market research in healthcare areas, including in vitro diagnostics (IVD), biotechnology, healthcare, medical devices, and pharmaceuticals. Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry-leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their markets through a variety of innovative solutions. Kalorama Information produces 30 reports a year. The firm offers a Knowledge Center, which provides access to all published reports.