— Biomarkers Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $30.6 billion by 2020, registering a CAGR of 16% during the period 2013 to 2027. Disease diagnostic remains the key application segment that is expected to reach $6.1 billion in 2020. However application of diagnostic biomarkers in forensics and molecular diagnostics is catching up quite significantly with latter expected to experience a growth rate of 17.6% during 2020 and 2027.
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COVID-19 Scenario Analysis:
• Global Biomarkers Market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for the market.
• Global factories have struggled to integrate new products as workers have stayed in their homes, which disrupted the global supply chains.
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for hybrid chips are gradually going to increase.
• This COVID-19 lockdown would help companies think about more advanced Market to enhance efficiency.
The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
With respect to geography, Asia Pacific is expected to have the highest CAGR at 20.3% from 2013 to 2020. Companies profiled in this report include Roche Diagnostic Limited (Switzerland), Siemens Healthcare (Germany), Abbott Laboratories Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), Aushon BioSystem Inc. (U.S.), Epistem Ltd. (U.K.), G.E. Healthcare Inc. (U.K)
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Diagnostic biomarkers though are a great tool in molecular diagnostics, is facing challenges with respect to ethical and regulatory issues as these are relat to a genomic pattern of an individual which needs to be extremely confidential.
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