north america neurological biomarkers Market

The North America neurological biomarkers market is expected to reach US$ 2,618.68 Mn in 2027 from US$ 7,056.76 Mn in 2019. The market is estimated to grow with a CAGR of 13.4% from 2020-2027.

Factors such as growing prevalence of neurological disorders and increasing focus toward research in neurological biomarker are expected to fuel the growth of the market. However, the limitation of neurological biomarkers is a major factor hindering the market growth. In addition, increasing awareness toward benefits of early diagnosis is expected to provide growth opportunities to the market players for developing new biomarkers whereas, the inclination toward personalized/precision medicine is expected to be a prevalent trend in the market.

Biomarkers are the molecules that indicate 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 have 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.

Rapid developments in healthcare and drug discovery sector are leading to the introduction of new therapeutic solutions for the treatment of neurological diseases. Authorities such as World Health Organization, National Institute of Neurological Disorders and Stroke, and National Institutes of Health are taking constructive steps to encourage the research activities and find a remedy for neurological disease treatment.

A biomarker is an indicator of normal biological processes, pathogenic processes, or evaluating a therapeutic intervention. Thus, the discovery of biomarker is an active research area, where a few biomarkers have been sufficiently studied and validated for its use in clinical practice and clinical trials.

The National Institute of Neurological Disorders and Stroke (NINDS) biomarker program is focused on enhancing the quality and efficiency of neurotherapeutic clinical research and supports the biomarker validation. The program promotes rigorous biomarker identification and validation by providing funds for the research activities. Similarly, Parkinson’s disease Biomarkers Program (PDBP) was initiated to support new and existing research promoting the discovery of biomarker for Parkinson's disease. Thus, increasing number of research studies conducted in the North American region focusing toward advancements in neurological biomarker are expected to augment the growth of the market over the forecast period.

Research institutes, pharmaceutical, and biotech companies are engaged in collaborative work to address the COVID-19 outbreak. This has eventually shifted their focus from development of new neurological biomarkers to vaccine development for COVID-19. Moreover, diversion of resources from neurological biomarkers development to coronavirus treatment is likely to hamper overall productivity of the drug development during the forecast period. Furthermore, supplies for biotechnology procedures and procurement are also badly affected by the outbreak of COVID-19 in North America.

In 2019, the genomic biomarkers segment held the largest share of the market and is expected to grow at the fastest CAGR during the forecast period. This segment is likely to witness a lucrative growth owing to increasing awareness among consumers regarding benefits of genetic medicines as well as technological advancements in the field of neurological biomarkers. In addition, the trend shift towards adoption of gene counseling and genetic analysis for diagnostic purposes is also likely to augment the growth of the segment. The genetic biomarkers are significant modalities that directs towards a more personalized approach of predispositions and medical analysis.

Some of the significant secondary sources for neurological biomarkers market included in the report are the World Health Organization (WHO), Food and Drug Administration (FDA),National Institute of Neurological Disorders and Stroke (NINDS),Centers for Disease Control and Prevention (CDC),and others.