Neurological Biomarkers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Neurological Biomarkers Market: Overview
The increasing count of neurological disorders serves as a prominent driver for the growth in the neurological biomarkers market. WHO has published an estimation in 2018 that more than 300 million people from different age groups encounter clinical depression across the world. It is anticipated to fuel demand in the industry.
The lack of effective diagnostics in underdeveloped and developing countries may increase the rate of mortality due to neurological disorders. It is presently considered a severe concern in the healthcare industry.
More than 600 neuro-disorders types are affecting nerves, the spine, or the brain. Some existing disorders such as epilepsy, brain tumors, Parkinson’s disease, Alzheimer’s disease, and cerebral strokes are studied by healthcare people. But most neurological disorders types are rare and complicated and require further in-depth understanding. This study is further related to underlining pathophysiology.
So proactive government initiatives and rising funding for the diagnosis of neurological disorders may boost growth in the neurological biomarkers market.
Neurological Biomarkers Market: Key Trends
The neurological biomarkers market is anticipated to grow on the back of the increasing count of psychiatric and neurological disorders during the upcoming years. A rising number of R&D activities are conducted for the improvement of the effective functioning of neurological biomarkers. For example, Massachusetts General Hospital from the U.S. has initiated an observational research study in 2018. It is anticipated to complete by August 2022. The aim of the study is the investigation of neuroimaging biomarkers that are linked with FND (functional neurological disorder) prognosis.
The increasing count of novel product launches and their approval is anticipated to present exponential growth opportunities in the neurological biomarkers market. These novel products work more efficiently and ensure easy, rapid, and accurate detection of diseases.
However, the development in the neurological biomarkers market may be curtailed. There is a lack of reliable and specific neurological biomarkers. So it may curb the growth opportunities in the neurological biomarkers market.
Future Medicine Journal has published a study report in 2019 related to the utilization of neurological biomarkers in the healthcare industry. CSF DJ-1 is utilized as a prominent biomarker in Parkinson’s disease. It has shown inconsistent outcomes during diagnosis. Even the results contained a lack of specificity.
Neurological Biomarkers Market: Competitive Dynamics and Key Developments
The companies serving in the neurological biomarkers market are taking different initiatives to improve the market avenue. Quanterix Corporation has announced its acquisition of UmanDiagnostics AB in June 2019. It may further help the organization to strengthen supply abilities and assay development. The Elisa kits and antibodies that are supplied by UmanDiagnostics may enable the company to detect Nf-L. It may be utilized for the treatment, prediction, and tracking of different conditions. These conditions may include multiple sclerosis, ALS, and others. This acquisition by the organization may assist in the development of new biomarkers for the improvement of neurological diagnostics science.
Some of the prominent players serving in the neurological biomarkers market include:
Neurological Biomarkers Market: Regional Assessment
The neurological biomarkers market is segmented into Middle East & Africa, Asia Pacific, Europe, Latin America, and North America. Among these regions, the North American region is anticipated to contribute with the majority portion in the industry. This growth is on the back of different government initiatives to manage neurological disorders.
The prominent market players are adopting market strategies to boost growth in the neurological biomarkers market. Some of the strategies include partnerships, acquisitions, and others are anticipated to fuel growth in the industry in the forthcoming years.
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