Factors such as increasing initiatives for development of precision medicine, increasing prevalence of chronic diseases, and increasing demand for development of companion diagnostics, is supporting the growth of global biomarker research services market. For instance, in 2017, National Institutes of Health launched Precision Medicine Initiative (PMI) with an investment of US$ 215 million to accelerate biomedical research and offer clinicians new tools to select therapies that can be used in a more individualized approach with patients. Moreover, potential of biomarkers in disease diagnosis, and in companion diagnostics is expected to boost global biomarker research services market growth. Organizations such as Covance, Inc., Charles River, and others are actively involved in providing biomarker research services.
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In May 2019, BioIVT joined the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium. The FNIH Biomarkers Consortium is a public-private biomedical research partnership. It brings together members of industry, academia, nonprofit and patient advocacy organizations, and government agencies and institutes to develop and support research to qualify promising biomarkers for disease diagnosis, predicting therapeutic response, and improving clinical practice. Moreover, in 2017, BioIVT acquired Asterand Bioscience, a global provider of high quality, well-characterized human tissue, and research solutions, with a focus on the oncology market. Asterand Bioscience is focused on drug research by accelerating target identification and biomarker validation and improving drug candidate selection to increase the likelihood of clinical success.
High prevalence of diseases such as cancer, cardiovascular diseases, and neurological diseases is expected to increase demand of biomarkers for diagnosis and treatment of these diseases. This, in turn, is expected to lead to high demand for biomarker research services, thereby boosting the market growth over the forecast period. For instance, according to World Health Organization (WHO), in February 2018, cancer was the second-leading cause of death worldwide, accounting for 8.8 million deaths. According to the data published by American Heart Association, in 2018, cardiovascular diseases, listed as the underlying cause of death, accounted for around 836,546 deaths in the U.S. which is around 1 in every 3 deaths in the U.S.
Moreover, around 2,300 deaths are registered in the U.S due to cardiovascular diseases each day, with an average of 1 death in every 38 seconds. Furthermore, increasing application and approval of companion diagnostics is expected to spur manufacturers to invest in research and development of companion diagnostics. For instance, in April 2019, Qiagen N.V. announced the U.S. launch of the therascreen FGFR RGQ RT-PCR Kit (therascreen FGFR Kit) as a companion diagnostic to help guide the use of the newly approved FGFR kinase inhibitor, BALVERSA (erdafitinib), developed by Janssen Biotech, Inc. (Janssen).
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In 2017, REPROCELL Corporation formed an alliance with Fox Chase Medical Center (Philadelphia, U.S.) to accelerate biomarker and genetic discovery. Through this alliance, REPROCELL Corporation focused on augmenting its global repository of bio-specimens with samples from the Fox Chase Cancer Center and ensured that researchers had access to a wide array of clinical-grade bio-specimens.
However, development of biomarkers requires high investments due to cumbersome biomarker validation and testing processes. This, in turn, is expected to hamper global biomarker research services market growth.
Some major players operating in the global biomarker research services market include Noble Life Sciences, Inc., Reprocell Corporation, Coriell Institute, BioIVT, ICON Plc., SRI International, Inc., Charles River Laboratories, Inc., Nordic Bioscience A/S, Proteome Sciences Plc., and Covance Inc. (Laboratory Corporation of America Holdings, Inc.)
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