Neurological Biomarkers Market Scope, Demand And Forecast To 2026
Posted by Neha Bora on March 5th, 2020
San Francisco, 5 March 2020: The Report Neurological Biomarkers Market Size, Share & Trends Analysis Report By Application (Alzheimer’s, Parkinson’s, Multiple Sclerosis, Autism Spectrum Disorder), By Type, By End-use, By Region, And Segment Forecasts, 2019 – 2026
The global neurological biomarkers market size is expected to reach USD 16.5 billion by 2026, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 14.5% over the forecast period, driven by an increasing prevalence of neurological diseases and emergence of novel diagnostic products.
Neurological biomarkers can be used for diagnostics, drug discovery, or personalized medicines among other applications. These products may be employed in drug development to reduce attrition rates during clinical trials. Some neurological biomarkers can further be used to predict drug failures early in the development process by determining their pharmacological effect on patients, which helps the pharmaceutical company obviate additional costs associated with further clinical trials.
There remains a significant dearth for in-depth knowledge of the pathophysiologies of several neurological disorders, thus resonating with the unmet need for more research and increased funding for the same. Though technological advancements and rising consumer awareness are flag-bearers in this market growth, there remains considerable scope for advanced diagnostics - in terms of precision, specificity, and test time.
The diagnostic landscape in this market is gradually shifting towards genetic testing and counseling. Biomarker signatures are a rising trend in the diagnosis and treatment of neurological diseases. This has resulted in non-invasive testing, faster drug development, and early diagnosis of abnormalities/diseases. Furthermore, digital biomarkers provide various pharmaceutical companies with contextual and supplemental information to conclude clinical trial decisions. For instance, IXICO plc is collaborating with biopharmaceutical companies to validate clinically digital biomarkers and use them in clinical trials.
Proactive initiatives by public and private organizations to heighten consumer awareness is a key driver of the neurological biomarkers market. For instance, the National Alliance on Mental Illness (NAMI) one of the largest grassroot organizations in the U.S. is dedicated to educating, advocating, and supporting mental health patients about diagnosis and apt treatment for their conditions. Such drivers reflect a prosperous future in the global biomarkers market.
Further key findings from the report suggest:
Access Research Report of Neurological Biomarkers Market @ https://www.grandviewresearch.com/industry-analysis/neurological-biomarkers-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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