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(Medical-NewsWire.com, June 20, 2017 ) North America biomarkers market is expected to reach USD 16.72 billion by 2020 from USD 9.57 billion in 2015, growing at a CAGR of 11.80% during forecast period 2015-2020.
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Biomarkers are described as the biological molecules or genes assist in crucial clinical decisions and diagnosis of health conditions in patients. These are also known as molecular markers or signature molecules and used to analyze the pharmacologic responses, biological & pathological conditions. Biomarkers are found extensively in body fluids and tissues. Biomarkers are helpful in drug discovery & development processes and assessment of disease conditions.
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Growing number of cancer patients, rising adoption of advanced technologies (such as advanced high throughput technologies), increasing research to discover & develop the innovative biomarkers, and existence of huge number of pharmaceutical companies are driving the growth of biomarkers market in North America. In addition, growing funding from public & private organizations, presence of major market players, and increasing collaborations among the pharmaceutical companies are further propelling the growth of biomarkers market in North America. However, poor regulatory systems and reimbursement policies for the validation of biomarkers tests are restraining the growth of biomarkers market in North America.
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North America biomarkers market is segmented based on the product, type, application, and disease indications. Based on product, the market is further sub-segmented as consumables, software, and services. Based on type, the market is segmented as safety biomarkers, efficacy biomarkers, and validation biomarkers. Biomarkers application is further segmented as diagnostics developments, drug discovery & developments, personalized medicine, and disease risk assessment. Based on disease indications, the market is segmented as cancer, cardiovascular, neurological, and immunological disorders.
On the basis of geographical areas, North America biomarkers market is segmented as U.S., and Canada.
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The key players in biomarkers market include, Bio-Rad Laboratories (U.S.), Qiagen N.V. (Netherlands), Enzo Biochem (U.S.), PerkinElmer, Inc. (U.S.), Merck & Co, Inc. (U.S.), EKF Diagnostics Holdings plc. (U.S.), Meso Scale Diagnostics, LLC (U.S.), Singulex, Inc. (U.S.), BioSims Technologies (France), Cisbio Bioassays (France), and Signosis, Inc. (U.S.).
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