The National Institute of Neurological Disorders and
Stroke provides funding, such as development grants & cooperative
agreements for researchers conducting studies related to biomarker discovery,
analytical validation, & clinical validation. Thus, the presence of
organizations offering funds at various stages of research is anticipated to
drive market growth. For instance, the University of North Texas Health Science
Center (HSC) was awarded around USD 45.5 million funds from the National
Institutes of Health (NIH) to support research regarding health disparities in
Alzheimer’s and brain aging. NIH is offering additional funds for biomarkers
research for the ongoing Health and Aging Brain Among Latino Elders (HABLE)
study.
Increasing product launches are also expected to drive
market growth. For instance, in January 2021, Abbott received FDA 510K
clearance for its rapid handheld traumatic brain injury test that measures
UCH-L1 and GFAP biomarkers. The results of this test are available within 15
minutes, and it helps clinicians assess the need to perform a CT scan. The
rapid turnaround time of this test will help physicians plan and deliver treatment
on time.
In August 2018, Olink Proteomics AB introduced a new
biomarker panel Olink NEURO EXPLORATORY for the expansion of a portfolio of
high-quality protein assays. This product includes a high-performance assay for
neurofilament light polypeptide, a significant biomarker for traumatic brain
injury and degenerative neurological diseases.
However, the lack of reimbursement coverage for
the biomarkers impedes the market growth. Currently, only certain,
restricted forms of biomarker tests for dementia symptoms are covered by
Medicare and other health insurance programs and their use must be justified
based on the symptoms and specific requirements of the individual.
The reimbursement for Alzheimer’s disease is also not
provided by most of the insurance providers, such as the Blue Cross and Blue
Shield Association. The reimbursement coverage for neurological biomarker
testing in developing countries, such as India and China, is even lesser, as
these countries have low insurance penetration and very little awareness about
biomarker testing.
Related Press Release@ Neurological Biomarkers Market Report
Neurological Biomarkers Market
Report Highlights
- Increasing collaborations and public-private partnerships for research
initiatives may fuel market growth
- For instance, in February 2018, MJFF in collaboration with the NIH
and five life-sciences companies provided USD 24 million as a research
grant for the development of neurological biomarkers
- In 2020, the proteomic biomarkers segment accounted for the largest
market share and is anticipated to maintain its dominance over the
forecast period
- The Parkinson’s disease segment led the market in 2020. An
increasing number of clinical trials for Parkinson’s disease
drugs and the growing prevalence of the disease is expected to drive the
segment growth in the years to come
- North America was the largest regional market in 2020 owing to the
high disease burden, acceptance of biomarkers for diagnostic, prognostics,
& drug development purposes, and increase in research funding
- Asia Pacific is anticipated to witness the fastest CAGR over the
forecast period owing to a rising number of clinical trials being
conducted in developing countries, such as India and China, increasing
disease burden, and growing need for targeted drugs in the central nervous
system
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