The global cancer biologics market size is expected to reach USD 87.60 billion by 2024 and is anticipated to grow on account of rising prevalence of cancer, increasing demand for biological and targeted drug therapies. According to World Health Organization, cancer is one of the leading causes of deaths in the world, was responsible for about 9 million deaths in the year 2015 and is expected to increase to 70% over the next two decades.
Oligonucleotides are short nucleic acid polymers used in research, genetic testing and forensics. Oligonucleotides are usually made up of 13 to 25 nucleotides and are designed to hybridize specifically to DNA or RNA sequences.
The worldwide bioreactors market is projected over USD 550 million by 2024, growing at a CAGR above 18% during the forecast period (2016-2024). It is driven by the adoption of single-use bioreactors (SUBs) & hybrid bioreactors and demand for biologics.
The global BioMEMS market is projected to grow at a CAGR above 25% over the forecast period (2016-2024). It was estimated at USD 2.5 billion in 2014. This can be credited to patients adopting medical instruments on a rental basis.
Developing or making new products with the help of living organisms is known as biotechnology. It is basically a technological application which uses living/biological system to produce products for specific purposes.
Circulating tumor cells (CTC) market is expected to grow over the forecast period owing to the increasing prevalence of cancer and growing population.
Projected to grow at a CAGR of almost 9% from 2016 to 2024, the molecular diagnostics market is expected to witness significant growth over the forecast period owing to rapid surge of infectious diseases
DNA diagnostics is a technique used to detect and analyze the biological markers in the proteome and genome by applying the theory of microbiology. The utilization of this technique was initialised in early 1990’s.
The global cancer genomics market is expected to witness a significant growth over the forecast period owing to the availability of cost-efficient and advanced diagnostic technology.
The global genomics market has witnessed growth in market potential due to technological advancements such as novel informatics approach that integrate many forms of information with genomic information in disease research which allowing researchers to better understand the genetic bases of various diseases and drug response. Additionally, an increase in full reimbursement for this market by the certain governmental bodies, increasing incidence rate of fetal disorder such cancer, diabetes and others contribute to the increase in their demand globally.
The application of nanotechnology into healthcare sector is referred as nanotechnology healthcare. Continuous innovation in nanotechnology for improvement of nanomedicines is the main driver for nanotechnology market over the forecast period. Nanotechnology helps to cure biological system of sub-microscopic and molecular parts by repairing, constructing, monitoring and controlling them.
Increasing prevalence of chronic diseases such as diseases related to liver, kidney and cardiovascular, are expected to propel the market for stem cell. Stem cells are the undifferentiated cells having the capacity to reproduce among themselves, which can perform wide number of functions. Rising demand for regenerative medical treatments coupled with increasing investment in research and development of healthcare sector is likely to drive the market in coming five years.
Synthetic biology market is expected to grow over the forecast period owing to the increasing uses of environmental applications such as biodegradation, contaminants, detection of environmental pathogens, distinct chemicals immobilization, and bio-transformation. The other growth drivers of this market are lifestyle induced diseases such as obesity & diabetes, molecular biology advancement, increase demand for biofuels, sophisticated healthcare infrastructure, increasing geriatric population rising demand for improved drugs and vaccines, due to increasing population demand for genetically modified crops are also rising and awareness.