Brain biomarkers market: Key Insights
Biomarkers are the molecules that indicate about the presence of a disease. The biomarkers of the brain 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.
Additionally, a growing demand for non-invasive techniques for diagnosing neurological disorders will drive the development of new and innovative brain biomarkers. However, the lack of standardization in the development and application of brain biomarkers is restraining the growth of the brain biomarkers market. This can lead to inconsistencies in results and limit healthcare providers' and patients' widespread adoption of these biomarkers. Overall, the brain biomarkers market is poised for significant growth and holds enormous potential for the future of medical diagnosis and treatment.
Rising Prevalence of Neurological Diseases is Driving the Brain biomarkers market
Neurological diseases contribute to a significant burden on health systems in terms of disease diagnosis, treatment, and management. Some of the major neurological disorders are epilepsy, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchenne muscular dystrophy, and others. According to the Global Burden of Disease Study, in 2016, neurological disorders were the leading cause of DALYs (disability-adjusted life-years) and the second leading cause of deaths. The four most significant neurological diseases causing DALYs are stroke (42.2%), migraine (16.3%), Alzheimer’s, and other dementias (10.4%).
As per the data published by the National Institutes of Neurological Disorders and Stroke in 2019, around 7,000 rare neurological diseases have been registered in the US. Additionally, according to the same study, these conditions are responsible for a significant number of morbidity and mortality.
As per the 2019 Alzheimer’s disease Facts and Figures Report, in the year 2019, there were 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. According to the Global Burden Disease (GBD) 2017, and Disease and Injury Incidence and Prevalence report, 20 million people across the globe suffer from Schizophrenia. Additionally, as per the BioNews Services, LLC, seven to ten million people across the globe suffer from Parkinson’s disease.
Brain biomarkers market: Segmental Overview
The global brain biomarkers market is segmented on the basis of product, indication, and end user. Based on product, the market is segmented into biomarker analyzers and biomarker test kits. Based on indication, the brain biomarkers market is segmented into alzheimer's disease and other dementias, huntington's disease, MND and ALS, parkinson's disease, and stroke. Based on end user, the market is segmented into ambulatory surgical centers, diagnostic laboratories, hospitals, and research laboratories.
The brain biomarkers market is segmented into two main categories based on product: biomarker analyzers and biomarker test kits. Biomarker analyzers segment is likely to hold larger market share of the global brain biomarkers market. Biomarker analyzers are advanced diagnostic devices used to measure and analyze brain biomarkers in patients. These devices are becoming increasingly popular due to their high accuracy, precision, and ability to provide real-time results. Additionally, advances in technology, such as the integration of artificial intelligence and machine learning algorithms are improving the performance of biomarker analyzers, making them even more attractive to healthcare providers and patients. Biomarker test kits are also important for diagnosing neurological and psychiatric disorders, as they allow for easy and convenient testing in various settings. These test kits are particularly useful for primary care physicians and other healthcare providers who do not have access to specialized diagnostic equipment.
Brain biomarkers market: Competitive Landscape and Key Developments
Advanced Brain Monitoring; Electrical Geodesics, Inc.; F. Hoffmann-La Roche Ltd; Johnson & Johnson; Siemens Healthineers; BrainScope; Quest Diagnostics; QIAGEN N.V.; Natus Medical; and Myriad Genetics are among the key players operating in the brain biomarkers market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the brain biomarkers market.
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