Pharmaceutical Industry Reports Biomarkers | Page 2

REPORT DESCRIPTION
Biomarkers Market – Overview
Biomarkers are used for diagnosis and drug development, as these biomarkers can indicate diseases in the body.
Furthermore, biomarkers can be any specific cells, molecules, genes or gene products, enzymes or hormones.
Biomarker-based test are precise and rapid, which help in early prediction of susceptibility, prognosis, diagnosis,
and treatment of disease. Hence, increasing research and development activities for identifying new biomarkers to
diagnose or treat diseases is expected to be major factor growth of the market.
Biomarker are required for personalized medicine as it helps to identify the unique characteristics of the disease
and helps to tailor medicine according to the need of patients. Hence, to cater to demand for personalized
medicines, pharmaceutical companies are investing in R&D, which is expected to lead to identification of novel
biomarkers, thus aiding in growth of the market.
The global biomarkers market is projected to witness significant growth over the forecast period, owing to rapid
advancements in technology for development of novel biomarker. For instance, in February 2018, FDA granted
marketing authorization to Banyan Biomarkers, Inc. for the first diagnostic blood test for traumatic brain injury
named Banyan BTI. Such innovations, targeting different indications, is expected to drive biomarkers market
growth in the near future.