Market Overview
The central nervous system biomarkers market is expected to record a CAGR of ~13.0% during the forecast period 2021-2027, reaching a market value of USD 7,500 million by 2027.
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Market Dynamics
New technology breakthroughs and their rising application in the diagnosis of neurodegenerative illnesses are two important reasons driving the CNS biomarkers market. Furthermore, increased R&D for new CNS biomarkers as well as successful clinical studies contribute to the growth of the central nervous system biomarkers market. Identifying new biomarkers will make it easier to look for new diagnostic and prognostic signs that might be used to track the efficacy of a new medication or provide a new disease treatment target. High-throughput scanning of the human genome and its encoded proteins, for example, has enabled systematic analysis of human disease. These technologies are proven to be a more effective way of discovering the biological foundation of genetically complex neurological diseases.
Competitive Dynamics
Some of the key players in the global CNS biomarkers market are Thermo Fisher Scientific (US), Merck & Co. (US), AbaStarMDx Inc. (US), Abiant, Inc. (US), Avacta Group plc (UK), Diagenic Asa (Norway), Banyan Biomarkers (US), Avid Radiopharmaceuticals Inc. (US), and Acumen Pharmaceuticals Inc. (US) amongothers.
Segmental Analysis
The global market for CNS biomarkers has been divided into three categories: type, application, and end user.
· The market has been divided into types such as safety biomarker, efficacy biomarker, validation biomarker, and others.
· based on application: The global CNS biomarkers market has been divided into three categories drug discovery and development, personalised medicine, and others.
· based on end user: The CNS biomarkers market is divided into diagnostic labs, hospitals & clinics, and research centres.
Regional Overview
Increasing CNS cancer cases and R&D spending are expected to boost central nervous system biomarkers market growth in this region over the forecast period. Furthermore, businesses and research institutes are continually inventing and developing new technologies and biomarkers, which is aided by the presence of major competitors in the region as well as increased R&D spending. As a result of these factors, North America is likely to dominate the central nervous system biomarkers market for the foreseeable future.
The central nervous system biomarkers market in Europe is being driven by an increase in demand for personalized/precision medicine and the increased prevalence of neurological illnesses in the region. The European regulatory network is helping to promote personalised treatment for CNS illnesses such pharmacogenomics, biomarkers, companion diagnostics, and uncommon diseases, as well as innovative techniques and clinical trial designs.
Due to factors such as a huge consumer base, high prevalence of CNS illnesses, and improved healthcare infrastructure, the Asia-Pacific region is expected to be the fastest-growing regional market over the projection period. Furthermore, enhancing research capacity and strengthening healthcare infrastructure will aid in the development of novel CNS biomarkers.
The Middle East, Africa, and Latin America are included in the rest of the world. These areas are also seeing an increase in neurological illnesses, which is fueling the market for central nervous system biomarkers.
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