Biomarker Market for Diagnostic Applications Is Expected to Reach $30.6 Billion Globally by 2020

According to a new report titled "Biomarkers Market (Diagnostic Applications in Risk Assessment, Molecular Diagnostics, Disease Diagnosis, Drug Discovery & Development, Drug Formulation, Forensic Applications and Others) - Global Industry Analysis, Emerging Technologies, Competitive Intelligence, Growth Trends, Size, Share, Opportunities and Forecast, 2013 - 2020" published by Allied Market Research, the global biomarkers market for diagnostic applications such as risk assessment, molecular diagnostic, disease diagnosis, drug discovery & development, drug formulation, forensic and other such applications is set to reach about $30.6 billion in 2020 growing at CAGR of 16% from 2013 to 2020. Disease diagnostic remains the key application segment that is expected to reach $6.1 billion in 2020. However application of diagnostic biomarkers in forensics and molecular diagnostics is catching up quite significantly with latter expected to experience a growth rate of 17.6% during 2013 and 2020.

Read more details of the report at: https://www.alliedmarketresearch.com/biomarkers-market

Diagnostic biomarkers continue to address challenges such as early and accurate diagnosis of most of the fatal diseases. Increasing advancements with extended applications of diagnostic biomarkers are only going to increase its significance in the field of diagnosticsaccording to AMR analysts Debbie Shields and Roshan Deshmukh. Diagnostic biomarker technology is expected to change the scenario of drug development and medical practice, as technologies are metamorphosing from traditional pathophysiology/epidemiology approach to biomarker studies such as genomics and proteomic add the analysts.

Diagnostic biomarkers though are a great tool in molecular diagnostics, is facing challenges with respect to ethical and regulatory issues as these are related to genomic pattern of an individual which needs to be extremely confidential.

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