North America accounted for the largest share of the global biomarkers market in 2015. However, the Asian market is expected to grow at the highest
rate during the forecast period and represents new revenue pockets for the
biomarkers market. The expansion of
leading biomarkers companies in Asia will enhance the market in this region. According
to the World Bank, R&D spending in this regional segment increased from $177
billion in 2003 to $329 billion in 2010, at a CAGR of 9.29%. In 2010, Asia
accounted for 27.13% of the global R&D spending. Moreover, R&D spending accounted for
1.97% of Asia’s GDP in 2010. In Asia, Japan is noteworthy for its significant
R&D expenditure, which was 14.75% of the global R&D spending in
2010. R&D spending accounted for 3.16% of Japan’s GDP in 2010. Growth in R&D
expenditure, along with strong
growth trends in the pharmaceutical and biotechnology industries, will drive
the Asian biomarkers market.
The application segments of biomarkers will be important
revenue pockets for the market in the forecast period (2015–2020), these being
diagnostics development, drug discovery and development, personalized medicine,
disease risk assessment, and others. Diagnostics development accounted for the
largest share of the biomarkers market in 2015. However, personalized medicine
is expected to grow at highest rate during the forecast period. Personalized medicine is gaining recognition due to the
limitations of standard diagnosis and treatment methods; many areas of medicine,
from cancer to immunological disorders, are moving towards tailored treatment
for individuals based on their genetic signatures and clinical characteristics.
No comments:
Post a Comment