Future of Neurological Biomarker
Biomarkers are the molecules that indicates about the presence of a disease. The biomarkers of the neurological diseases were not that accessible in earlier days, however the advancements in the technology has enabled to track the health condition of the brain by measuring the biomarkers. This helps in the earlier detection of a disease, less invasive diagnostics and enables faster drug development and is expected to be the effective treatment.
The key factors that boost the growth of the neurological biomarkers market for Alzheimer’s and Parkinson’s diseases include increase in focus on developing cost-effective biomarker testing and rise in demand for noninvasive diagnostic techniques for Alzheimer’s and Parkinson’s. In addition, surge in adoption of neurological biomarkers in clinical trials supplement the market growth. However, implementation of stringent government regulations towards the approval of commercial use of biomarkers and emerging ethical issues regarding early diagnosis of Alzheimer’s and Parkinson’s diseases are expected to hamper the market growth. Conversely, rise in demand for personalized medicine is anticipated to offer profitable opportunities for the expansion of the market.
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Neurodegenerative biomarkers for Alzheimer’s disease based on region is categorized into U.S., EU5, rest of Europe, China, Asia-Pacific, and rest of world (ROW). U.S. was the leading market in 2017, and is expected to continue this trend throughout the forecast period. This is attributed to rise in expenditure on the management of Parkinson’s disease in the country. As of 2017, U.S. had a population of 326,506,644 individuals, and about 60,000 individuals are diagnosed with Parkinson’s diseases every year. Thus, significant prevalence of this disease among the U.S. population drives the growth of the market. However, China is projected to emerge as a lucrative market in future, due to the higher prevalence of Parkinson’s disease observed in males in 2017.
Upsurge in the incidence of Alzheimers and Parkinsons diseases is anticipated to contribute to the robust growth of neurological biomarkers. In addition, increase in adoption of neurological biomarkers in drug development and validation has been witnessed over the years to improve the accuracy of clinical trials. Furthermore, rise in preference towards personalized medicine is expected to offer profitable opportunities for the expansion of neurological biomarkers applied across Alzheimers and Parkinsons.
The report provides a comprehensive analysis of the key players operating in the neurological biomarkers market for Alzheimer’s and Parkinson’s disease such as Abbott Laboratories, Myriad RBM, Proteome Sciences, Thermo Fisher Scientific, Athena Diagnostics, Immunarray Pvt. Ltd., Quanterix Corporation, Diagenic ASA, Psynova Neurotech, and Bio-Rad Laboratories.
Source: the Insight Partners