Neurological Biomarkers Market Trends, Segmentation and Future Scope

The global neurological biomarkers market size is expected to exhibit a CAGR of 14.5% during the forecast period.

The global Neurological Biomarkers Market size is expected to reach USD 16.5 billion by 2026, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 14.5% over the forecast period, driven by an increasing prevalence of neurological diseases and emergence of novel diagnostic products.

Neurological biomarkers can be used for diagnostics, drug discovery, or personalized medicines among other applications. These products may be employed in drug development to reduce attrition rates during clinical trials. Some neurological biomarkers can further be used to predict drug failures early in the development process by determining their pharmacological effect on patients, which helps the pharmaceutical company obviate additional costs associated with further clinical trials.

There remains a significant dearth for in-depth knowledge of the pathophysiologies of several neurological disorders, thus resonating with the unmet need for more research and increased funding for the same. Though technological advancements and rising consumer awareness are flag-bearers in this market growth, there remains considerable scope for advanced diagnostics - in terms of precision, specificity, and test time.

The diagnostic landscape in this market is gradually shifting towards genetic testing and counseling. Biomarker signatures are a rising trend in the diagnosis and treatment of neurological diseases. This has resulted in non-invasive testing, faster drug development, and early diagnosis of abnormalities/diseases. Furthermore, digital biomarkers provide various pharmaceutical companies with contextual and supplemental information to conclude clinical trial decisions. For instance, IXICO plc is collaborating with biopharmaceutical companies to validate clinically digital biomarkers and use them in clinical trials.

Proactive initiatives by public and private organizations to heighten consumer awareness is a key driver of the neurological biomarkers market. For instance, the National Alliance on Mental Illness (NAMI) one of the largest grassroot organizations in the U.S. is dedicated to educating, advocating, and supporting mental health patients about diagnosis and apt treatment for their conditions. Such drivers reflect a prosperous future in the global biomarkers market.

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https://www.grandviewresearch.com/industry-analysis/neurological-biomarkers-market

Further key findings from the report suggest:

• Most biomarkers evaluating neuronal damage cannot be clinically useful individually, and are generally used in panels
• Most cerebrospinal fluid biomarkers used in medical practice are amyloid �™ and tau proteins
• Nascent products allow a broader scope for characterization and selection of treatment strategies
• Inconsistent regulatory trends remain a major constraint for the market
• Asia Pacific is positioned to witness the fastest regional growth