Biomarkers are novel diagnostic tools that provide intelligence to physician about disease progression and treatment effects. Advancement in understanding of human genome promotes its application in diagnosis of disease on molecular basis. Biomarker technology is evidencing increased application in disease diagnosis, drug development and formulation, diagnosis for exposure of certain harmful chemical and prognostic treatments. The global market for diagnostic biomarker is expected to reach about $30.6 billion in 2020, growing at CAGR of 16% from 2013 to 2020. Pharmaceutical companies, which are interested in introducing novel diagnostic solution are increasing partnership and collaboration with private laboratories, and educational institutes. The companies are also increasing their investments in research and development.
Disease diagnostic application remains the key area of application that is expected to reach 6.1 $billion in 2020. However, application of diagnostic biomarkers in forensics and molecular diagnostics is catching up quite significantly. Molecular diagnostics is expected to grow at a CAGR of 17.6% from 2013 to 2020.
The key players in this market that are profiled in the report include: Roche Diagnostic Limited (Switzerland), Siemens Healthcare (Germany), Abbott Laboratories Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), Aushon BioSystem Inc. (M.A.), Epistem Ltd (U.K.), G.E. Healthcare Inc.(U.K).
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