Biomarker analysis market has excellent growth potential. The 'omics' revolution of the last decade has ensured that the field of biomarker research will test the frontiers of biomedical research in the coming years. Biomarkers have a multitude of applications such as early disease detection, identifying potential drug targets, predicting patient response to medication and accelerating clinical trials. Along with its role in making personalised medicine a reality, this technology enjoys priority in terms of funding and investments. The promise of biomarkers to shorten drug development time and decrease costs in the long-term is likely to act in tandem to spur growth in the biomarker analysis market.
New analysis from Frost & Sullivan (http://www.drugdiscovery.frost.com), European Biomarker Analysis Market, finds that market earned revenues of $694.00 million in 2008 and estimates this to reach $2202.00 million in 2015. This is an early growth stage market with significant potential. The applications covered in this research are genomics, proteomics and metabolomics.
If you are interested more information on this study, please send an e-mail to Katja Feick, Corporate Communications, at katja.feick@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
Although biomarker testing in itself is inexpensive, the process of biomarker discovery and assay development is costly. There is a lag between the discovery of biomarkers in the laboratory and commercialisation, due to major roadblocks in biomarker validation and assay development. Target validation, high-throughput compound screening and lead discovery are processes that take place as a separate workflow whereas biomarker discovery, assay development and much later testing, are a parallel workflow. The union between these two workflows is a necessary but not a sufficient condition for biomarker testing to go mainstream. Since the costs involved with managing two parallel workflows for one drug development programme are high, only the pharmaceutical leviathans with the needed financial backing can successfully implement this model.
"Currently, biomarker testing is sporadic and mainly restricted to large biotech and pharma companies," explains Frost & Sullivan Senior Research Analyst Rasika Ramachandran. "Although the regulators are gradually mandating biomarker testing for widespread adoption by all tiers of biotech and pharma companies, most pharma companies need to find a way to converge the drug development workflow with the biomarker development workflow to facilitate cost-effective and accessible biomarker testing."