The global neurological biomarkers industry is set to witness exponential growth, projected at a robust Compound Annual Growth Rate (CAGR) of 4.6% over the forecast period. According to market analyses, the sector, valued at US$ 8 billion in 2023, is anticipated to soar to an estimated US$ 12.5 billion by 2033, signifying a significant upward trajectory.
Neurological biomarkers, pivotal in diagnosing and monitoring neurological disorders, are increasingly becoming integral in advancing precision medicine. The burgeoning demand for enhanced diagnostic tools and treatment monitoring solutions propels this sector’s remarkable expansion.
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“We are on the cusp of a transformative era in neurological biomarkers,” stated Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “The projected growth underscores the increasing recognition of these biomarkers’ critical role in deciphering neurological disorders, heralding a new frontier in healthcare.”
The expected surge in demand for neurological biomarkers is fueled by advancements in research and development, including innovative technologies facilitating early disease detection and personalized treatment approaches. Additionally, the growing prevalence of neurological disorders worldwide amplifies the urgency for reliable biomarkers to aid in accurate diagnoses and treatment assessments.
This projected growth offers promising prospects for stakeholders within the neurological biomarkers industry, including researchers, pharmaceutical companies, and diagnostic tool manufacturers. Collaborative efforts among these entities are poised to drive innovation and further advancements in this burgeoning sector.
As the market continues to evolve, FMI remains committed to pioneering cutting-edge solutions in neurological biomarker research. With a focus on innovation and collaboration, FMI is dedicated to contributing to the advancement of healthcare by delivering state-of-the-art diagnostic tools and technologies.
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
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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