Report : South and Central America Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Proteomics Biomarker, Genomics Biomarker, Metabolomics Biomarker, Imaging Biomarker, and Others), Application (Alzheimer’s Disease, Parkinson's Disease, Schizophrenia, Huntington's Disease, Spinal Muscular Atrophy, and Others), and End User (Pharmaceutical and Biotechnology Companies, Clinical Diagnostics, and Research Organizations)
Integrated patient portals segment by product is estimated to lead the market growth during the forecast period
According to a new market research study of “South and Central America Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Application, End User and Country.” The South and Central America neurological biomarker market is expected to reach US$ 1,185.28 million by 2027 from US$ 502.07 million in 2019; it is estimated to grow at a CAGR of 11.5% from 2020 to 2027. The report highlights trends prevailing in the South and Central America neurological biomarker market and the factors driving market along with those that act as hindrances.
The South and Central America neurological biomarker market, based on product is segmented into, proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, others. In 2019, the genomics biomarker segment held the largest share of the market, by product. Moreover, the same segment is expected to grow at the fastest rate during the forecast period. Neurological biomarkers are molecules present in the cerebral spinal fluid (CSF) or blood that support the diagnosis of brain disorders and monitor disease progression. These biomarkers' primary sources are genetic mutations, metabolite levels, brain imaging, and changes in protein expression or post-translational modifications. This helps in the early detection of disease and less invasive diagnostics. It also allows faster drug development and is expected to be the effective treatment for neurological disorders. Currently, research activities focused on biomarkers in neurodegenerative diseases are significantly increasing due to the surging incidence of Alzheimer’s and Parkinson’s diseases across South and Central America. According to the latest report from Alzheimer’s Disease International 2020, in Brazil, it was estimated that 6% of the 15 million people aged 60 years and above have Alzheimer’s Disease. Also, the introduction of digital biomarkers and the growing focus on neurological biomarker research are anticipated to propel the growth of the South and Central America neurological biomarker market in the coming years.
The growth of the market is attributed to some key driving factors such as rising prevalence of neurological diseases and growing focus on neurological biomarker research. On the other hand, concerns associated with use of biomarkers such as the absence of pre-analytical tests are one of the major factors likely to hinder the market growth during the forecast period.
Thermo Fisher Scientific Inc., Abbott and Bio-Rad Laboratories Inc. are among the leading companies operating in the South and Central America neurological biomarker market.
The report segments in South and Central America Neurological Biomarker Market as follows:
- Proteomics Biomarker
- Genomics Biomarker
- Metabolomics Biomarker
- Imaging Biomarker
- Alzheimer’s Disease
- Parkinson's Disease
- Huntington's Disease
- Spinal Muscular Atrophy
By End User
- Pharmaceutical and Biotechnology Companies
- Clinical Diagnostics
- Research Organizations
- Rest of South and Central America
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