The global neurological biomarkers market size is estimated to record a considerable CAGR during the forecast period, 2021–2028. The rising market is owing to the increasing in nervous disorder as well as the growing awareness on the neurological disease detection and treatment.
Neurological biomarkers refer to the molecules in the blood or cerebral spinal fluid (CSF) that assist the prognosis of mind issues and display ailment progression. The fundamental reasserts biomarkers are genetic metabolite levels, mutations, mind imaging and adjustments in protein expression. As they discover organic responses to experimental capsules and resource in coming across new goals for healing intervention, neurological biomarkers are broadly utilized in scientific exercise throughout drug development. At present, researchers’ degree biomarker concentrations to offer non-invasive testing, in advance prognosis, and personalized treatments.
According to World Health Organization (WHO), globally more than 300 million people were suffering from clinical depression in 2018. As per the estimation of École des Neurosciences de Paris Île-de-France, over 6 million people are dying caused by stroke every year and the mortality rate is close to 80% in low and middle income countries. Over 600 neurological diseases have been discovered that can affect the nerves, brain, and spine in human’s body, which lead to the leading causes of several neurological disorders. Some of the examples of neuro-disorders are such as Alzheimer’s disease, brain tumors, cerebral stroke, epilepsy and Parkinson’s disease.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing cases of neurological disorders such as stroke, motor neuron disease, Alzheimer’s disease, Parkinson’s disease, and Huntington’s disease especially in developed countries are fueling the biomarkers’ market growth.
- Largely adoption of minimally invasive procedures and personalized medicines are driving the market growth.
- Rising number of clinical trials and advent of digital biomarkers are anticipated to propel the market expansion during the forecast period.
- Less awareness of neurological diseases and lack of treatment facilities in low income countries are the factors hampering the market growth.
- High cost involved in neuro- research & development affects the market share in low & middle income level countries. This is expected to hamper the market growth in the coming years.
Scope of the Report
The report on the global neurological biomarker market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Neurological Biomarker Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Proteomic, Imaging, Genomic, Metabolomics, and Others), Applications (Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Autism Spectrum Disorders, and Others), End-users (Independent Clinical Diagnostic Centers, Hospital Laboratories, Research Organizations, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Abbott; QIAGEN; Myriad RBM; Thermo Fisher Scientific Inc.; Athena Diagnostics; Bio-Rad Laboratories, Inc.; AbaStar MDx, Inc.; Acumen Pharmaceuticals; BANYAN BIOMARKERS, Inc.; and Alseres Pharmaceuticals, Inc.
Market Segment Insights
Genomic segment is expected to dominate the market
Based on types, the neurological biomarkers market is categorized as proteomic, imaging, genomic, metabolomics, and others. The genomic segment is expected to dominate the market during the forecast period owing to increasing adoption of advanced technology for genomic research and increasing awareness of the biomarker type. Moreover, rising shift of diagnostic paradigm towards the advancement of gene evaluation and genetic counselling pave a key aspect for the segment growth. Genomic biomarkers are directing towards neurological exercise regarding personalized technique primarily based on patient’s character genetic specifications and predispositions. On the other hand, the imaging segment is projected to hold a large market share during the forecast period due to the aid of using considerable R&D in neuroscience and technological improvements, which have enabled visualization of abnormalities in the body.
Alzheimer’s disease segment is projected to expand at a considerable market
Based on the applications, the market is divided into Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, autism spectrum disorders, and others. The Alzheimer’s disease segment is projected to expand at a considerable market share in the coming years as wide prevalence of the disease in many developed countries and wide adoption of neurological biomarkers for the treatment of the disease. Amyloid-β, general tau, and phosphorylated tau are the important cerebrospinal fluid biomarkers that are widely adopted for reflecting the pathophysiology of this disease. Identification of those biomarkers with in the initial levels of the disorder can assist in timely treatment.
Meanwhile, the Parkinson’s disease segment is anticipated to exhibit a healthy CAGR during the projected period due to the emerging disruptive studies and trials ongoing for advanced diagnostics of Parkinson’s disorder. Earlier, protein biomarkers, amino acids, and dopamine metabolites had been the high analytical gear for diagnosing Parkinson’s disorder. Moreover, numerous novel applicants are volunteering for the disease research purpose by diagnostic biomarkers, which is expected to boost the segment growth.
Hospital laboratories segment is anticipated to gain a large market share
On the basis of end-users, the neurological biomarkers market is segmented into independent clinical diagnostic centers, hospital laboratories, research organizations, and others. The hospital laboratories segment is anticipated to gain a substantial market share during the forecast period. The segment growth can be attributed to growing affected person influx for most cancers prognosis in hospitals, developing patron awareness, and growing investments in healthcare infrastructure in growing and underdeveloped countries. On the other hand, the research organizations segment is expected to grow at a considerable rate during the forecast period attributing to the huge investments for neuroscience research worldwide. For example, the NINDS Human Biomarkers Biospecimen and Data Repository is dedicated to advanced research and determination of neurological biomarkers.
North America is estimated to dominate the market
In terms of regions, the global neurological biomarkers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to dominate the market during the forecast period due to evident business trend of neurological diagnostics in the region especially in the U.S. Some of the other factors fueling the market growth include proactive government initiatives, rising expenditure in healthcare infrastructure, and local presence of major manufacturers in the region.
The market of Asia Pacific, on the other hand, is expected to expand rapidly during the forecast period. The regional growth rate is anticipated to be influenced by overall economic development, improvements in healthcare infrastructure, increased personal disposable income, and rising consumer awareness. Emerging economies such as China, India, and South Korea are encouraging a wide scale development programs and research for biomarkers, which are likely to boost the regional market expansion in the coming years.
Segments Covered in the Report
The global neurological biomarker market has been segmented on the basis of
- Alzheimer’s Disease
- Parkinson’s Disease
- Multiple Sclerosis
- Autism Spectrum Disorders
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Myriad RBM
- Thermo Fisher Scientific Inc.
- Athena Diagnostics
- Bio-Rad Laboratories, Inc.
- AbaStar MDx, Inc.
- Acumen Pharmaceuticals
- Banyan Biomarkers, Inc.
- Alseres Pharmaceuticals, Inc.
Some of the major players competing in the market are Abbott; QIAGEN; Myriad RBM; Thermo Fisher Scientific Inc.; Athena Diagnostics; Bio-Rad Laboratories, Inc.; AbaStar MDx, Inc.; Acumen Pharmaceuticals; BANYAN BIOMARKERS, Inc.; and Alseres Pharmaceuticals, Inc.
To expand their market reach, major market players are indulged in innovation and development of new products. Market players are stepping into merger & acquisitions, licensing partnerships, and co-development to stay ahead in the market competition. For example, Abbott acquired Alere Inc. in September 2017, which was expected to help the company to expand the point of care division into business portfolio.