The global Neurological Biomarkers Market is projected to have a high-paced CAGR of 4.6% during the forecast period. The current valuation of the neurological biomarkers market is US$ 8 Billion in 2023. The value of the neurological biomarkers market is anticipated to reach a high of US$ 12.5 Billion by the year 2033.
The key features pushing the demand for neurological biomarkers are an increase in the number of research and development efforts aimed at enhancing the effectiveness of neurological biomarkers. For instance, in 2018, Massachusetts General Hospital in the United States began an observational research project that was completed in August 2022. The purpose of this study was to look at neuroimaging biomarkers that are connected to the prognosis of Functional Neurological Disorder (FND).
Similarly, according to the Alzheimer’s Disease Facts and Figures Report, more than 5.8 Mn people in America were suffering from dementia related to Alzheimer’s disease in 2019, with the majority of the population being people of the 75+ age group. With the development of novel neurological biomarkers, neuropathologists are expected to play an important role in the selection and characterization of appropriate treatment regimens.
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Furthermore, with the rise of customized and telemedicine treatment, single-cell biosensors are becoming increasingly common. These single-cell biosensors can aid in the integration of molecular and clinical data on a big scale.
There is also a growing number of pipeline research for the creation of biomarkers in various illness situations, which is projected to drive the growth of the central nervous system biomarkers market. Specific diagnostic, prognostic, and predictive biomarkers were discovered in the 2019 research “Biomarkers in cancers of the central nervous system,” and they continue to develop. As a result, understanding particular biomarkers is critical for tailored therapy and follow-up.
Vendors are creating clinical trials and research and development of biomarkers that may provide more precise findings for neurological illnesses, which is expected to increase demand for neurological biomarkers during the forecast period. In addition, the National Institute of Neurological Disorders and Stroke offers funding for researchers pursuing biomarker discovery, analytical validation, and clinical validation studies through development grants and cooperation agreements. The need for verifying and finding biomarkers in big populations is enormous. This strategy is being used in the research process, which increases the likelihood of the neurological biomarkers market growing rapidly in the next year.
However, the market for neuroscience biomarkers may be limited by a lack of specificity and reliability in some neurological biomarkers. According to a 2019 study published in Future Medicine Journal, CSF DJ-1, a neurological biomarker for Parkinson’s disease, produced inconsistent results and lacked specificity.
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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.
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.
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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.
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
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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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