Global biomarkers market is estimated to reach USD 53.34 Billion by 2021 from USD 27.95 Billion in 2016,

The global biomarkers market is estimated to reach USD 53.34 Billion by 2021 from USD 27.95 Billion in 2016, at a CAGR of 13.8% from 2016 to 2021. Growth in the market is mainly driven by factors such as increasing diagnostic applications of biomarkers, increasing R&D funding for pharma and biotech companies, increasing number of CROs and low cost of clinical trials in developing countries, the high prevalence of cancer, and new initiatives for biomarker research. On the other hand, high capital investments and low cost-benefit ratio, poorly suited regulatory and reimbursement systems, and technical issues related to sample collection and storage are the major factors restraining the growth of this market.

Leave a Comment