Global Central Nervous System Biomarkers Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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How Much Growth is Expected for the Central Nervous System Biomarkers Market from 2024 to 2033?
Over the recent years, the market size for central nervous system biomarkers has seen a significant boost. It is set to escalate from $5.01 billion in 2023 to $5.55 billion in 2024 with a compound annual growth rate (CAGR) of 10.8%. This historic period of growth can be tied to a surge in worries surrounding neurological disorders, high incidence of central nervous system diseases, increased demand for improved diagnostic and treatment options, enhancements in healthcare infrastructure, and a growing elderly demographic.
The market for biomarkers in the central nervous system is projected to experience significant expansion in the coming years. By 2028, it’s anticipated to reach a value of $8.02 billion, with a 9.7% compound annual growth rate (CAGR). Several factors can explain the projected growth in this period, including the rising incidence of neurological problems, amplified need for personalized medication, increasing geriatric population, greater emphasis on early diagnosis, and a surge in demand for non-invasive diagnostic tools. Noteworthy trends throughout this forecasted period encompass technological innovation, strategic alliances amongst biotech firms, pharmaceutical entities, and other parties, expansion in cerebrospinal fluid (csf) and blood-based biomarker research, and the application of artificial intelligence and machine learning-based algorithms.
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What Factors Are Encouraging Growth in the central nervous system biomarkers Market?
The central nervous system biomarker market’s expansion is predicted to be driven by an increase in neurological disorders. Neurological disorders, which cover a wide variety of conditions impacting the brain, spinal cord, and body’s nerves, can originate from numerous sources, such as genetics, infections, autoimmune reactions, degenerative conditions, tumors, vascular complications, and traumas. In the setting of these disorders, central nervous system (CNS) biomarkers are crucial in clinical diagnoses, evaluating the risk or prognosis of an illness, determining the stage of the disease, and monitoring the response to treatment. They play an instrumental role in the understanding and potential treatment of these conditions. For instance, Alzheimer’s disease, in April 2023, as reported by the Centers for Disease Control and Prevention, impacted an estimated 6.7 million US citizens aged 65 and above. This figure is projected to nearly triple to 14 million by 2060. Additionally, the populace living with this disease doubles every five years post the age of 65. Thus, the surge in neurological disorders is propelling the growth of the central nervous system biomarker market.
Which Segments Play a Vital Role in the Central Nervous System Biomarkers Market?
1) By Type: Safety Biomarker, Efficacy Biomarker, Validation Biomarker, Other Types
2) By Disease: Multiple Sclerosis, Alzheimer’s Disease, Parkinson’s Disease, Traumatic Brain Injury, Other Diseases
3) By Application: Drug Discovery And Development, Personalized Medicines, Disease Risk Assessment, Diagnostics, Other Applications
4) By End-Users: Diagnostic Labs, Clinics, Hospitals, Research Centers, Other End-Users
What Trends Are Driving Change in the Central Nervous System Biomarkers Market?
A key trend gaining traction in the central nervous system biomarker market is the approval of innovative drugs. To secure their market position, major companies in this sector are striving to develop novel drugs and obtain regulatory approval. For example, in January 2022, the United States-based Denovo Biopharma LLC, a clinical-stage biopharmaceutical company, revealed that the US Food and Drug Administration (FDA) had approved its investigational new drug (IND) application for DB104 (liafensine) aimed at treating treatment-resistant depression (TRD). Not only is this the first global CNS clinical trial for TRD guided by a biomarker, but it also has the potential to help pinpoint patients who are more likely to respond positively to liafensine, thereby facilitating more individualized treatment decisions. Liafensine is a unique compound that functions by elevating the dopamine and norepinephrine levels in the brain.
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What Regions Are Contributing Significantly to the Growth of the Central Nervous System Biomarkers Market?
North America was the largest region in the central nervous system biomarkers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the central nervous system biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Central Nervous System Biomarkers Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the central nervous system biomarkers market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Central Nervous System Biomarkers Market Include
1. Central Nervous System Biomarkers Market Executive Summary
2. Central Nervous System Biomarkers Market Segments
3. Central Nervous System Biomarkers Market Size And Template Market Growth Rate
4. Key Central Nervous System Biomarkers Market Trends
5. Major Central Nervous System Biomarkers Market Drivers
……
25. Key Mergers And Acquisitions In The Central Nervous System Biomarkers Market
26. Top Central Nervous System Biomarkers Companies
27. Central Nervous System Biomarkers Market Opportunities And Strategies
28. Central Nervous System Biomarkers Market, Conclusions And Recommendations
29. Appendix
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