General market overview of central nervous system biomarkers:
The central nervous system biomarker market is expected to reach a CAGR of ~ 13.0% in the forecast period 2021-2027 and to reach a market value of ~ $ 7,500 million in 2027. New discoveries and advances in the central nervous system (CNS) are supported by medicine, further helping to raise doubts about drug treatment and its effectiveness. In addition, biomarkers can also help to understand the mechanism of the disease and improve the quality of patient care. In addition, the growth of research and development of new CNS biomarkers and successful clinical trials.
Players in the industry develop different trading strategies to increase their market presence. The companies are investing in research and development activities to expand their product portfolio, further shifting the central nervous system biomarker market. In addition, market participants are involved in mergers and acquisitions, contractual agreements, new product launches, increased investments and partnerships with other players to expand their global footprint.
The drug discovery and development segment will have a large share of the global CNS biomarker market.
In the application part of the global CNS biomarker, the drug discovery and development segment will have a significant market share in 2020. Market growth is driven by rising R&D spending in the sector. Drug discovery and development researchers include Johnson & Johnson service Ltd., Novartis AG, F. Hoffmann-La Roche Ltd., Biogen Inc. and many others. In addition, significant research into new drugs is expected to contribute to market growth. For example, in 2019, the CDER approved two new treatments for adult patients, chronic and chronic debilitating diseases of the central nervous system, and the FDA approved a monoclonal antibody for the treatment of episodic clusters.
High demand due to growing lifestyle-related diseases
With the growing number of lifestyle-related and chronic diseases worldwide, the demand for CNS biomarkers has increased, which in turn is driving this market. Neurological and heart disease have increased many times over the last two decades; diseases such as heart disease, stroke, diabetes, blood pressure, heart disease and so on. This leads to a growing need for CNS biomarkers for early detection and diagnosis of the disease.
Growing government mental health awareness initiatives
The market is expected to be supported by a growing government in the area of mental health awareness over the forecast period. While developing countries, such as those in North America and Western Europe, have adequate understanding and access to mental health care and, therefore, antidepressants, this demand has grown exponentially due to pandemics. Governments around the world are investing in mental health knowledge, which is expected to enable people to get enough help and support market growth.