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Biomarker Research Services Market
Rising incidence of cancer, neurological diseases, and cardiovascular diseases around the world has created a strong need for advanced and potent biomarkers in the global biomarker research services market. Increasing focus and rising demand for early and precise diagnostics to enable fast and timely therapeutic treatment for various chronic conditions is also boosting the global biomarker research services market. Usage of efficient biomarkers can assist greatly in improving the efficacy of prescribed treatments and enhance the detection of cancer biomarkers and thereby improving the diagnostics. Growing therapeutic areas of companion diagnostics in the larger field of personalized medicine is also another trend anticipated to fuel the demand in the global biomarker research services market in coming years.
Technological advancements and increasing demand from global pharmaceutical industry for assistance in the drug discovery and clinical research processes are also boosting the demand in global biomarker research services market. However, inability to conduct biomarker research by biotechnology and pharmaceutical companies along with high cost associated with research required for new drug development can hamper the growing global biomarker research services market in the near future. Other potential restraints that can influence the growth trajectory of the global biomarker research services market in coming years include low cost to benefit ratio, technical issues pertaining to sample collection and storage, and poorly suited regulatory as well as reimbursement systems.
The Biomarker Research Services Market - Introduction
Biomarkers are key molecular or cellular events that are used to link a specific environmental exposure to a health outcome or target disease. Biomarkers play an important role in understanding the development of chronic human diseases and identification of subgroups that are at increased risk for disease. In the past few years, biomarkers have been extensively used in all therapeutic areas of medicine to diagnose a particular disease. Biomarkers are used for drug approval process as included in the regulatory submission processes.
Biomarker research services are specifically provided for development and validation of new biomarkers. These services are provided for different purposes such as research assay, biomarker validation & discovery of a biomarker, qualification, verification, optimization, and companion diagnostics. Companion diagnostic (CDx) is a medical device or test used for a therapeutic drug to determine and validate its drug applicability in specific person, its safety, risk, and benefit from that drug.
The Biomarker Research Services Market – Competitive Landscape
The global biomarker research services market is highly fragmented due to presence of major companies and CROs. Key players operating in the global market include Noble Life Sciences, Inc., REPROCELL USA, Inc., BioIVT, Covance, Inc., PointCross Life Sciences, Coriell Institute, SRI International, ICON plc, Nordic Bioscience, and Proteome Sciences plc.
Merger & acquisition, collaboration, strategic alliances, partnerships, and new product offerings are the key strategies adopted by the major companies.
Noble Life Sciences, Inc.
Founded in 2010, Noble Life Sciences, Inc. is headquartered in U.S. Noble Life Sciences, Inc. is a contract research organization (CRO) which offers in-vitro and in-vivo preclinical drug development services. Company also offers standard GLP and non-GLP services which involves safety & efficacy testing for the development of drugs, vaccines and medical devices. Biomarker discovery & validation, molecular tumor profiling, and clinical biomarker development & implementation services are some of the major services provided by company.
REPROCELL USA, Inc.
Established in 2003, REPROCELL USA, Inc. is headquartered at Yokohama, Japan. REPROCELL USA, Inc. is a global company located at U.S., Europe, Japan and India. Company services include BioServe, predictive drug discovery custom services, stem cell culture media and reprogramming technologies.
In April 2017, REPROCELL and Fox Chase Cancer Center announced a strategic alliance aimed at accelerating oncology discovery and translational studies. This alliance aimed to accelerate biomarker and genetic discovery.
BioIVT
Founded in 1981, BioIVT is based in U.S. Company provides value-added services such as biomarker target & validation, precision medicine research and phenotypic assays. Company has acquired various other organizations to enhance its presence and services offered.
In August 2017, BioIVT acquired Asterand Bioscience, which focused on drug research by biomarker validation and target identification.
Covance, Inc.
Established in 1996, Covance, Inc. is headquartered at Princeton, U.S. Covance, Inc. is a contract research organization and was acquired by Laboratory Corporation of America Holdings in 2014. Company offers nonclinical, preclinical and clinical services to pharmaceutical, and biotechnology companies for drug development, clinical testing, regulatory services and safety & toxicology studies.
Biomarker Research Services Market - Dynamics
Rise in prevalence of chronic diseases and growing use of biomarkers in diagnostic therapeutic areas driving the market
Increasing use of biomarkers in diagnostic therapeutic and rise in prevalence of chronic diseases across the world are the major factors boosting the growth of the global biomarker research services market. According to the WHO, cancer accounted for an estimated 9.6 million deaths and was the second major cause of death globally in 2018. Moreover, about 1 in 6 deaths occur due to cancer globally.
Major merger, acquisitions and strategic partnerships by major players to drive the global market
Mergers & acquisitions and strategic partnerships by key players are fueling the growth of the global biomarker research services market. Moreover, increase in therapeutic areas of companion diagnostics in personalized medicine is attributed to the growth of the global biomarker research services market. In April 2017, Bristol-Myers Squibb and Nordic Bioscience announced a collaboration agreement for biomarker development technology to potentially aid in the diagnosis and monitoring of fibrotic diseases.
Higher cost for research and incapability of pharmaceutical & biotechnology companies restraining biomarker research services market growth
Incapability of pharmaceutical & biotechnology companies to conduct biomarker research and higher cost for research are the factors likely to hamper the growth of the global biomarker research services market. Higher research cost for new drug development and drug discovery is hampering the growth of global biomarker research services market.
North America Biomarker research services market- Dominating region
North America dominated the global market in 2018 and is projected to sustain its position during the forecast period. Higher demand of biomarkers for disease diagnosis, companion diagnostic research for new drug development, rise in prevalence of chronic diseases, presence of major players engaged in mergers & acquisitions, collaboration with CROs for biomarkers, and rise in investment for R&D by companies are the major factors driving the biomarker research services market in North America.
Biomarker Research Services Market - Segmentation
The global biomarker research services market can be segmented on the basis of:
Biomarker Research Services Market Segmentation – By Service Type
Depending on the service type, the biomarker research services market can be divided into:
Biomarker Research Services Market Segmentation – By Therapeutic Area
Based on the therapeutic area, the biomarker research services market can be divided into:
Biomarker Research Services Market Segmentation – By End-user
In terms of end-user, the biomarker research services market can be divided into:
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Biomarker Research Services Market
