DUBLIN--(BUSINESS WIRE)--The "Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application; End User; and Geography" report has been added to ResearchAndMarkets.com's offering.
The global neurological biomarker market is expected to reach US$ 5, 501.8 million by 2027 from US$ 14, 454.7 million in 2019; it is estimated to grow at a CAGR of 13.0% from 2020 to 2027.
The rising prevalence of neurological diseases and growing focus on neurological biomarker researchare the major factorsdriving the growth of the neurological biomarker market. However, the concerns associated with biomarker such as measurement errors and cost hindersthe growth of the market.
Neurological diseases contribute to a significant burden on health systems in terms of disease diagnosis, treatment, and management. Epilepsy, Alzheimer's disease, multiple sclerosis, spinal muscular atrophy (SMA), and Duchenne muscular dystrophy are among the major neurological disorders. According to the Global Burden of Disease Study, in 2016, neurological disorders are the main cause of disability-adjusted life-years (DALYs) and the second major cause of deaths. Stroke (42.2%), migraine (16.3%), Alzheimer's, and other dementias (10.4%) are among the four most significant neurological diseases causing DALYs.
As per the 2019 Alzheimer's disease Facts and Figures Report, in 2019, ~5.8 million Americans of all ages were suffering from Alzheimer's dementia. Among 5.8 million patients, 81% of the patients were aged 75 years and above. Thus, the increasing prevalence of neurological diseases is a major factor driving the growth of the global neurological biomarker market during the forecast period.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the neurological biomarker market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global neurological biomarker market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Market Dynamics
Drivers
- Rising Prevalence of Neurological Diseases
- Growing Focus on Neurological Biomarker Research
Restraints
- Concerns Associated with Biomarkers
Opportunities
- Increasing Awareness of Neurological Diseases Coupled with Developing Healthcare Infrastructure
Future Trends
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The Rising Trend of Precision/Personalized Healthcare
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Abbott
- Myriad Genetics, Inc.
- Bio-Rad Laboratories Inc.
- QIAGEN
- Banyan Biomarkers, Inc
- Immunarray Pvt. Ltd.
- Quest Diagnostics Incorporated
- Perkin Elmer, Inc.
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MERCK KGaA
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