Despite Presence of about ~800 Competitors Comprising a Large Number of Country-Niche Players, Regional Players and Global Players, finds a recent market study on Global Biomarkers Market by Ken Research
Global Players that Constitute ~5% of Total Number of Competitors Hold Largest Market Revenue Share, While Regional Companies Represent 18% Share in Terms of the Competitors
A comprehensive competitive analysis conducted during the Research Study found that the Global Biomarkers market is highly competitive with ~800 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in medical technology for multiple end-user industries. The majority of the top 20 global biopharmaceutical companies, including F. Hoffmann-La Roche AG, Abbott, Johnson & Johnson, and Merck & Co., Inc., maintained their leading positions in the forecasted period. The majority of the country’s players offer end-to-end solutions that assist clinicians and scientists in better diagnosing diseases, discovering new and more personalized drugs, and performing disease assessments. Some of these who successfully evolve to create pharma and diagnostics solutions often get acquired by large global players seeking to grow and diversify quickly. “Ken Research shares 3 key insights on this high opportunity market from its latest research study”
Country-Niche Players’ and Organization’s Ongoing Efforts to Provide Life Sciences Solutions to End-User Industries Are Driving Their Revenue Growth In This Market.
Detailed comparative analysis of key competitors available within the Research Study shows that numerous biotechnology, and pharmaceuticals companies such as Fujirebo, Axom Medchem, Centogene N.V., F. Hoffmann-La Roche AG, and more are highly focused on providing a significant number of healthcare solutions and advanced techniques that can be used across end-user industries. Furthermore, Numerous companies and organizations are aggressively investing in advanced computation, data analytics, and increased R&D activities.
- In March 2022, Imagene AI, an Israeli biomarker company, announced that it received US$ 21.5 million in funding, including US$ 3 million in seed funding led by Blumberg Capital and a US$ 18.5 million Series A round led by technology-driven cancer medicine investors, to develop cancer’s genomic, proteomic, and spatial insights, as well as further understanding of cancer exacerbations and diagnosis resistance.
- In February 2022, Fujirebo, a Japanese biotechnology company, launched two new tests for the novel biomarkers NPTX2 and sTREM2 in partnership with ADx NeuroSciences, which can help in the discovery of fresh responses in the understanding of Alzheimer’s disease and contribute to the development of pharmacological therapies.
- In 2020, F. Hoffmann-La Roche AG, a Switzerland-based pharmaceuticals company, spend US$ 16 billion (14.8 billion Swiss francs) on R&D, with increased investment in late-stage oncology and neuroscience programs which prompt the 14% increase.
The Ongoing COVID-19 has noticeably contributed to the development of the biomarker technologies market.
During the acute phase of the ongoing covid-19 pandemic, clinicians faced several challenges, including timely diagnosis and hospitalization, effective utilization of intensive care facilities, selection of appropriate therapies, monitoring, and timely discharge. A prompt and precise diagnosis has several implications for the patient, the healthcare institution, and public health and administrative personnel. Amid the ongoing pandemic, healthcare systems are evolving to meet the growing infection rate worldwide. Laboratory markers or biomarkers saw an increase in market growth during this destructive phase of the COvid-19 pandemic as they provided additional, objective information that significantly improved these aspects of patient care.
The global need for company and governmental sponsors to discover a suitable vaccine or therapeutic for Covid-19 has increased dramatically as the pandemic entered its extreme phase in 2020. Most international research authorities had also adopted an expedited operation or accelerated approval for Covid-19-related testing to ensure that they are treated as a priority. With the increased number of Covid-19 trials from 2020 to mid-2021, most included biomarkers to assist in faster trials and lower drug development costs.
Furthermore, biomarkers in Covid-19 are indeed beneficial in numerous areas:
- Early Disease Suspicion
- Disease Severity Identification
- Framing Hospitalization Metrics
- Therapy Rationalization
- Analyzing Therapies to Therapies
- Predicting Consequences or Outcome
For instance, according to industry estimates, Diagnostic markers were the most commonly used biomarkers in Covid-19 trials in 2020, the first is SARS Coronavirus 2 (SARS-CoV-2), as used in 30.6% of Covid-19 trials, and the second is Coronavirus Nucleic Acid, used in 7.3% of trials.
Increasing Government Initiatives, Strategies, and Investments in Pharmaceutical R&D, Notably Supporting Drug Development is Propelling the Biomarkers Market Growth.
Prior to the Covid-19 pandemic, government-led investment and involvement in life sciences were relatively limited worldwide, with the industry relying primarily on private funding. The pandemic led governments to concede that the structure needed to be changed. Since 2020, several governments across countries have raised funds for expensive premature vaccine development and production capacity expansion, as well as other critical pharmaceutical activities.
- For instance, in November 2020, the UK government made US$ 7.3 billion (£ 6 billion) available for the development and production of effective vaccines.
- In February 2020, the President Trump signed an agreement to finance the federal government in the United States, along with the National Cancer Institute, the federal government agency for cancer research and training, which received US$ 6.44 billion to fuel cancer research, which is likely to have a favorable impact on biomarkers in the long-term.
- In January 2020, Johnson & Johnson Services, Inc. received funding of US$ 250,000 from Food Allergy Research & Education (FARE), a U.S.-based non-profit organization devoted to food allergy research, to advance research on food allergy biomarkers. In addition, the grant is expected to assist in the discovery and affirmation of allergy biomarkers for the development of therapies.
Previously, the industry-funded the majority of these activities. The shift from private to public funding facilitated the development of Covid-19 drugs and vaccines more quickly.
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Multi-Biomarker Blood Test Market Research Report
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