The report" Global Central Nervous System" Market by Type (Safety Biomarker, Efficacy Biomarker, Validation Biomarker, Other), Application (Drug Discovery & Development, Personalized Medicine, Others), End-user (Diagnostic Labs, Hospitals& Clinics, Research Centers) and Regional (North America, Europe, APAC, South Africa, The Middle East & Africa)- Global Forecast to 2030. "In 2020, the market share of the Global Central Nervous System (CNS) Biomarkers Market was USD 3.67 billion. It is predicted to reach USD 8.7 billion by 2030, with a CAGR of 9.0 % throughout the forecasted period.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
New technology breakthroughs and their rising Application in detecting neurodegenerative conditions are two crucial reasons for boosting the CNS biomarkers market.
By Type, the "Safety Biomarker" segment holds the most significant market share.
Due to rising awareness about routine health exams, depression, Parkinson's disease, multiple sclerosis, and increasing utilization in the preclinical stage, the Safety Biomarker category held the largest market share in 2020. Moreover, it is predicted to be the fastest-growing market in the forecast period. Safety indications were used by 83 % of the 24 businesses questioned during the clinical trial phase, according to research issued by a consortium of pharmaceutical companies in December 2020.
By Application, the "Personalized Medicine" segment holds the most significant market share.
Personalized medicine has been highlighted as the most promising approach to treating various diseases. One of the key factors driving the market's growth is the rising occurrence of the brain and other nervous system cancers. As a result, several companies concentrate their efforts on developing novel drugs to treat neurological diseases.
By End-users, the "Diagnostic Centres" segment holds the maximum share of the market.
Based on end-users, an ageing population and rising cancer incidence owing to organophosphates drive the demand for CNS biomarkers in Diagnostic Centers. Biomarkers are required to aid in the identification of several neurological disorders as well as disease progression tracking. As new techniques for early diagnosis are developed, the demand for CNS biomarkers in diagnostic laboratories is projected to grow. According to Cancer.net, an estimated 24,530 persons and 3,460 children under 15 with a primary brain or spinal cord tumour will be there in the United States in 2020. As per the National Brain Tumor Society, there will be an additional 85,000 cases of brain tumours in 2021.
By Region, North America comprehensively led the market in terms of revenue.
Based on region, in 2020, North America had the most significant revenue share; it is the world's biggest marketplace for Central Nervous Systems. As per the American Cancer Society, brain disease will be the second most common cancer in children and adolescents in 2021, with 27 % and 21 %, respectively. Furthermore, the American Cancer Society reports that as of August 2020, USD 23.1 million Americans are diagnosed with brain-related clinical and cancer control research. As a consequence of the above claims, the North American region is expected to have the largest market share throughout the forecast period.
SOME OF THE CRUCIAL EXISTING MARKET PLAYERS:
Below mentioned players are the ones who are the market leaders of Global Central Nervous System Biomarkers - Thermo Fisher Scientific, Merck & Co., AbaStarMDx Inc., Abiant, Inc., Avacta Group plc, Diagenetic Asa, Banyan Biomarkers, Avid Radiopharmaceuticals Inc., Acumen Pharmaceuticals Inc., Siemens AG, Novartis (Switzerland), G-Biosciences, Merck KGaA, Bio-Rad Laboratories, Inc., Biomeriux (Banyan Biomarkers Inc.)
Recent Developments: -