2012-11-16 16:58:52 - Global biomarkers market dominated by Roche Diagnostics, Genomic Health and Myriad Genetics
The global biomarkers market has increased at a compound annual growth rate (CAGR) of 20.1% over the past seven years, rising from a value of $3.5 billion in 2004 to $13 billion in 2011.The majority of revenue was generated through the application of biomarkers in the discovery, testing and prescription of oncology therapeutics, according to their analysis, with other leading therapeutics areas being Central Nervous System (CNS) and Cardiovascular System (CVS) disorders.According to the Food and Drug Administration (FDA), a biomarker is a characteristic that can be objectively measured and evaluated as an indicator of biologic processes, or as biological responses to a therapeutic treatment, generally existing as specific enzyme or hormone concentrations.Biomarkers therefore hold the potential to predict disease
susceptibility, can detect and monitor disease progression for CNS, CVS, cancer, autoimmune, metabolic and infectious diseases, and can also act as a guiding force in drug development and evaluation.Doctors, patients and healthcare payers are demanding new tools for early and accurate diagnosis of disease. Biomarkers represent a strong opportunity for the development of non-invasive diagnostic and prognostic tests. Identifying the most suitable treatment for a patient will cut healthcare spending and help avoid potential adverse events.Leading market players include pharmaceutical companies co-developing drugs and diagnostics - such as Roche Diagnostics - and leading diagnostic developers, including Genomic Health and Myriad Genetics.Players are implementing various growth strategies in the market to gain competitive edge. New products launch, agreements and collaborations, partnerships, joint ventures, mergers and acquisitions, were some of the major strategies adopted by the players during the study period between January 2009 and December 2011.Research indicates that agreements, partnerships, collaborations, and new joint ventures form a major growth strategy in the global biomarker market accounting for a 42% share in this sector.For more information on the global biomarkers market, see the latest research: Global Biomarkers MarketFollow us on Twitter @CandMResearch
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