Press release
Neurological Biomarkers Market Estimated to Soar Higher During 2017 - 2025
The University of British Columbia and the Karolinska Institute in Sweden have set up biobanks that provide necessary resources and information for biomedical research. Alzheimer’s is the most common form of dementia affecting 12 million people. Neuroimaging and neuropsychological probes can help predict Alzheimer before behavioral tests diagnose. Thus pre-assessment tests such as Positron emission tomography (PET) and functional magnetic resonance imaging (fMRI) are driving the demand for neurological biomarkers.
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The introduction of newer neurological biomarkers is expected to play a crucial role in helping neuropathologists in the characterization and selection of suitable treatment strategies. Moreover, with the advent of telehealth and personalized medicine, there is an emerging trend of single-cell biosensors as it may help integrating large-scale clinical and molecular information.
These biomarkers are used in patients suffering from acute ischemic stroke, intracerebral hemorrhage, subarachnoid hemorrhage and traumatic brain injury. Recovery from such neurocritical disease depends on how well the patient mitigates. In such situations, procurement of imaging studies or a good examination may be delayed due to the complexities involved. This shortcoming has further fueled the demand for biomarkers. The market is also experiencing recent trends with the researches undertaken on novel radiotracers, miRNA, and integration of systems biology into routine biomarker validation.
The neurological market is expected to witness growth owing to the various technological developments, the expansion in application and rise in the incidence of neurological disorders such as Alzheimer's, Parkinson’s and stroke. But the industry has certain restraints such as reproduction of positive trial results, the absence of pre-analytical tests and failure to investigate the efficiency of the biomarker as compared to previous one.
Furthermore, the demand for these biomarkers is expected to propel as the demand for neurological care is increasing. In America, there are around 5.4 million people diagnosed with Alzheimer’s disease. The number is expected to triple to 16 million by 2050. The demand for procedural specialties is more as compared to on procedural specialties. This statement can be justified by the fact that the Medicare payment grew by 84% for procedural specialties and only 48% for non-procedural specialties.
In terms of geography, the global neurological biomarkers market has been divided into five regions including North- America, Asia- Pacific and Middle-East & Africa, Latin America and Europe. North America has a major revenue share in the neurological biomarkers industry as many prominent market players are present in this region, the number of R&D projects carried out and the government funding received by academic universities to undertake research. For instance in August 2015, researchers, patients and various non-profit organizations participated in the Imaging Dementia -- Evidence for Amyloid Scanning (IDEAS) study. The USD 100 million project aims to study the utility of amyloid PET imaging to diagnose dementia, Alzheimer’s and cognitive impairment.
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Asia-Pacific is the fastest growing region as the region offers huge population base, high incidence rate of neurological abnormalities, entry of new market players and huge aging population. In developing economies such as India and China, new industry players are trying to establish their market presence by developing the generic version of the biomarker, through contract research organizations. This has further helped in reducing the manufacturing cost for the company and other production related cost.
Key players in the neurological biomarkers industry are Myriad RBM, Proteome Sciences, QIAGEN, Thermo Fisher Scientific, AbaStar MDx, Acumen Pharmaceuticals, Abiant, Aepodia, Athena Diagnostics, ImmunArray, Quanterix and Cisbio Bioassays.
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