Biomarkers Market | Exactitude Consultancy Reports
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The biomarkers market is expected to grow at 13.6% CAGR from 2022 to 2029. It is expected to reach above USD 211.35 billion by 2029 from USD 38.61 billion in 2020.
Biomarkers Market Overview
A biomarker is a quantifiable sign of the biological state or condition of an organ, tissue, or cell. It is also known as a biological marker. In medicine, safety evaluation, and the development of new drugs, biomarkers are frequently utilized. According to their functionality, biomarkers can be divided into many sorts, such as diagnostic, prognostic, predictive, and other types. They contribute significantly to the advancement of both the drug development process and the broader biomedical research business. Biomarkers can also be divided into genomics, proteomics, and other categories based on their biological characteristics.
Segment Analysis
The consumables segment accounted for the largest share by product & service segment. The biomarkers market is divided into segments based on product: software, services, and consumables. The largest portion of the global market was made up of the consumables sector. The substantial proportion of this category is driven by the frequent procurement of consumables and the growing use of kit-based products for biomarker testing.
The efficacy biomarkers category has the largest market share by kind. The effectiveness, safety, and validation biomarkers are the three types of biomarkers that make up the worldwide biomarkers market. The efficacy biomarkers market category held the largest market share in 2020. The significant market share of this sector is driven by these biomarkers’ capacity to assess the therapeutic efficacy of pharmaceutical goods.
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