When these intricate neural networks—through which the human brain communicates—are disturbed, neurological issues may manifest. A key to understanding this language is provided by the Neurological Biomarkers Market, which provides a non-invasive technique of identifying and tracking illnesses related to the brain. Join us as we explore the numerous biomarker categories and how they might transform the diagnostics industry, from molecular markers to neuroimaging techniques.
The global market for neurological biomarkers is predicted to grow quickly over the course of the forecast period, at a CAGR of 4.6%. In 2023, it is anticipated that the market for neurological biomarkers would be worth US$ 8 billion. The market for neurological biomarkers is predicted to reach a peak of US$ 12.5 billion by 2033.
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One of the key factors influencing the market for these markers is a rise in research and development efforts aimed at enhancing the efficacy of neurological biomarkers. For instance, Massachusetts General Hospital in the United States began an observational research project in 2018 and it was completed in August 2022. In this work, neuroimaging biomarkers related to Functional Neurological Disorder (FND) prognosis were investigated.
Similarly, according to the Alzheimer’s Disease Facts and Figures Report, more than 5.8 million Americans (the majority of them were in the 75 and older age group) experienced dementia brought on by Alzheimer’s disease in 2019. With the discovery of novel neurological biomarkers, neuropathologists are projected to play a significant role in the selection and characterisation of suitable treatment regimens. Additionally, the prevalence of single-cell biosensors is rising as a result of the expansion of individualised and telemedicine therapies. These single-cell biosensors have the potential to permit large-scale integration of genetic and clinical data.
Key Takeaways:
- During the forecast period, the US is expected to account for a significant share of the global neurological biomarkers market. This is attributed to the best scientists and industry-leading laboratories who drive the development of more advanced biomarker tactics, as well as specialized testing and on-target protocol help, to accelerate clinical biomarkers projects.
- The neurological biomarkers market in the Asia-Pacific is predicted to hold the largest share, particularly in Japan and India, during the projected period. This is owing to the launch of novel solutions such as PET scanners with motion correction, as well as the development of methods that enable significantly earlier sickness diagnosis, improved prognoses, and increased treatment options in order to increase the lifetime of future generations.
- Owing to expanding research and development initiatives towards the production of personalized medications for neurological illnesses, the “genomic biomarkers” type is expected to hold the highest revenue through the forecast period.
- As it is the most common of all neurological disorders, the “Alzheimer’s disease” application type accounts for a significant share and is the most profitable area for manufacturers.
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Competitive Landscape:
Industry players engage in numerous planned product launches and global expansion to promote the brand and sales. They are also expanding their presence across various geographies and entering new markets, especially in developing regions, to expand their customer base and strengthen their presence. The introduction of new innovative products in the market is also being carried out by market players, owing to the increasing number of neurological disorders across the world. These factors are anticipated to expand the global neurological biomarkers market size. The following companies are key leaders in the global market for neurological biomarkers:
- Quanterix
- Qiagen
- ADx NeuroSciences NV
- Merck KGaA
- Enrolmmun
- Thermo Fisher Scientific
- ACOBIOM
- Banyan Biomarkers Inc.
- Olink Biosciences
- Bio-Rad Laboratories Inc.
Recent Developments:
- In August 2020, Johnson & Johnson Services, Inc. entered into an agreement with Enigma Biomedical Group for the evaluation of novel neuroimaging biomarkers-JNJ-64413739 and JNJ-64511070-to understand Alzheimer’s disease and other dementias.
- In 2019, MC10 Inc. announced the collaboration with the University of Rochester for the development of novel digital biomarkers for central nervous system diseases.
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Key Segments Profiled in the Neurological Biomarkers Market Survey
By Type:
- Genomics Biomarkers
- Proteomics Biomarkers
- Metabolomics Biomarkers
- Imaging Biomarkers
- Others
By Application:
- Alzheimer’s Disease
- Parkinson’s Disease
- Huntington’s Disease
- Schizophrenia
- Depression
- Multiple Sclerosis
- Spinal Muscular Atrophy
By End User:
- Research Organizations
- Pharma & Biotech Companies
- Clinical Diagnostics
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By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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