NewswireToday - /newswire/ -
London, United Kingdom, 2007/11/20 - Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that the global market for biomarkers is expected to be worth $5.6 billion in 2007.
This is expected to increase to over $12.8 billion by 2012, a compound average annual growth rate (CAGR) of 18%.
“Biomarkers: The Expanding Global Market” reports that the market is broken down into applications of biomarker discovery, clinical trials and molecular diagnostics. Of these, biomarker discovery technologies tailored to drug discovery, pre-clinical studies of drug development and diagnostics research applications accounted for 47.9% of the total in 2007. Their value is projected to grow at a CAGR of 16.9% and is expected to reach a little less than $6 billion in 2012.
The global biomarkers market for molecular diagnostics applications is estimated to be valued at $2.3 billion for the year 2007 and is expected to reach $5.2 billion by 2012, a CAGR of 17.5% through the forecast period.
According to the report revenues for the clinical trial application segment were estimated to be $612 million in 2007 and are expected to increase by a CAGR of 23.5% to reach $1,8 billion by 2012. Public/private partnerships and the U.S. FDA's Critical Path Initiative (CPI) are fostering the adoption of molecular markers and the use of imaging biomarkers as potential surrogate end-points in clinical trials. The use of biomarkers in oncology therapeutics is likely to be one of the foremost priorities followed by cardiovascular and CNS applications in the next three to seven years.
Metabolomics, bioinformatics and a combination of transcriptomics and genomics solutions are expected to be the most influential driving technology forces. These technologies are followed by mass spectrometry, which is likely to play a decisive role in accelerating protein biomarker research, apart from its utility in metabolomics.
“Biomarkers: The Expanding Global Market” is available from Report Buyer. For more information visit the website.
Report Buyer product ID: BCC00167
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