Neurological problems can appear when these complex neural networks—through which the human brain communicates—are disrupted. The Neurological Biomarkers Market offers a non-invasive method of diagnosing and monitoring brain-related diseases and serves as a key to understanding this language. Join us as we examine the various types of biomarkers—from molecular markers to neuroimaging methods—and how they can revolutionise the diagnostics industry.
The forecast term is expected to see a rapid CAGR of 4.6% for the global market for neurological biomarkers. The market for neurological biomarkers is expected to be worth US$ 8 billion in 2023. By 2033, it is expected that the market for neurological biomarkers would have grown to a high of US$ 12.5 billion.
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An increase in research and development efforts targeted at improving the efficacy of neurological biomarkers is one of the main factors driving the market for these markers. For instance, in the United States, Massachusetts General Hospital started an observational research project in 2018 that was finished in August 2022. This study sought to examine neuroimaging biomarkers associated with Functional Neurological Disorder (FND) prognosis.
Similarly, the Alzheimer’s Disease Facts and Figures Report estimates that more than 5.8 million Americans (most of them were in the 75+ age group) were affected by dementia caused by Alzheimer’s disease in 2019. Neuropathologists are anticipated to play a significant role in the selection and characterisation of suitable treatment regimens with the development of novel neurological biomarkers. Furthermore, single-cell biosensors are becoming more prevalent due to the growth of customised and telemedicine treatments. Large-scale integration of genetic and clinical data can be facilitated by these single-cell biosensors.
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
About Future Market Insights (FMI)
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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