Biomarkers are measurable biological indicators that are used to diagnose or predict diseases, examine disease progression, and estimate treatment response. Biomarkers help in understanding the development of chronic diseases, its relationship with environmental chemicals, and identify subjects who are at high risk of developing disease. For several years, biomarkers have played a significant role in drug research and development of new drugs and in diagnostics. Moreover, biomarkers play important role in understanding disease mechanism, developing effective treatments, and improve quality of patient care.
The development in related technologies, such as genomics, proteomics, and imaging system, has reflected on evolution of newer biomarkers. Considering the complexity of central nervous system (CNS), biomarkers are now expected to play a significant role in identification of several neurodegenerative diseases at early stage, provide enhanced diagnosis, and eventually better treatment. Consequently, the global market for central nervous system (CNS) biomarkers is projected for a double digit growth rate during the forecast period of 2016 to 2024. To provide a complete picture of the market, this report divides it into lucrative segments and also profiles some of the key players for their market share, product portfolio, and development strategies.
The global CNS biomarkers market can be segmented on the basis of application, type, end user and geography. By application, the market can be divided into diagnostic development, personalized medicine drug discovery and development, and disease risk assessment. All of these segments are in high demand, contributing significantly in the growth of CNS biomarkers market.
Conversely, the report highlights two factors which may hinder the growth rate during the forecast period, which are the high cost of CNS biomarker tests and diagnostics and unclear reimbursement policies in many prospect country-wide markets. Untapped market in Asia Pacific is projected as an opportunity for players to invest with long-term prospects.
Geographically, this market can be divided into the regions of North America, Europe, Asia Pacific, and rest the world. Currently, North America contributes to the maximum demand, owning to the rise in life-style oriented diseases such as cancer, stroke, and other heart diseases. In 2014, Europe served the second most significant demand but the emerging economies of China, India, Japan, and Korea are expected to turn Asia Pacific into a highly lucrative market during the course of the forecast period. These countries are aggressively investing in improving their healthcare spending, and have skilled labor at affordable cost. This as a result is creating immense opportunities for the players who are willing to take initiative.
The key players in global central nervous system biomarkers market include Thermo fisher scientific, Enzo biochem inc, Abiant Inc, EKF diagnostics holdings Inc, Abastar MDX Inc, Acumen pharmaceuticals Inc, Adlyfe Inc, Apitope international, Alseres pharmaceuticals Inc, Aposense, Banyan biomarkers, Avid radiopharmaceuticals Inc, Diagenic ASA, Avacta group plc, Applied neurosolutions Inc, Merc & co. Inc, and Exonhit therapeutics. The players strategically invest on research and development for innovative and technological advancements, and focus on partnerships with domestic players to expand their outreach.