PUBLISHER: The Business Research Company | PRODUCT CODE: 1428327
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428327
A neurological biomarker is a substance that offers objective and quantifiable information regarding the presence, progression, or characteristics of a neurological disorder or condition. These biomarkers play a crucial role in clinical practice, particularly during drug development.
The main categories of neurological biomarkers include proteomics biomarkers, genomics biomarkers, metabolomics biomarkers, imaging biomarkers, and others. Proteomics biomarkers specifically involve proteins or patterns of proteins that can be identified and monitored by analyzing proteins in bodily fluids. These biomarkers find applications in various neurological conditions such as Alzheimer's disease, Parkinson's disease, Huntington's disease, schizophrenia, depression, multiple sclerosis, and spinal muscular atrophy. They are utilized by hospital laboratories, clinical diagnostic centers, research organizations, and other relevant entities.
The neurological biomarkers research report is one of a series of new reports from The Business Research Company that provides neurological biomarkers market statistics, including the neurological biomarkers industry's global market size, regional shares, competitors with neurological biomarkers market share, detailed neurological biomarkers market segments, market trends and opportunities, and any further data you may need to thrive in the neurological biomarkers industry. This neurological biomarkers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The neurological biomarkers market size has grown rapidly in recent years. It will grow from $9.46 billion in 2023 to $10.63 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The expansion observed in the historical period can be attributed to factors such as the increasing prevalence of neurological disorders, the aging population, the demand for drug development, increased funding for neurological research, and the growing focus on personalized medicine.
The neurological biomarkers market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The anticipated growth in the forecast period can be attributed to biomarkers for early detection, the development of biosensors, the adoption of wearable devices, global health initiatives, and a patient-centric approach. Major trends in the forecast period include technological innovation in imaging, rapid advances in omics technologies, the integration of artificial intelligence (AI), the use of real-world evidence in biomarker validation, advancements in diagnostic technologies, and collaborative efforts between industry and research institutions.
The anticipated rise in the prevalence of neurological diseases is poised to drive the growth of the neurological biomarker market. Neurological illnesses impact the brain, spinal cord, and the body's nervous system. In the case of neurodegenerative disorders such as Parkinson's disease, neurological biomarkers play a crucial role in providing early diagnoses through pathological, biochemical, and genetic testing. As of December 2022, the Parkinson's Foundation reported an increase in new diagnoses of Parkinson's disease, reaching 90,000 in 2022 compared to 60,000 per year in 2021. This surge underscores the role of neurological biomarkers in addressing the growing prevalence of neurological diseases.
The increasing incidence of schizophrenia is expected to contribute to the growth of the neurological biomarkers market. Schizophrenia, a severe mental health disorder, presents cognitive, emotional, and behavioral symptoms. Neurological biomarkers offer the potential for early detection, objective diagnostic measures, personalized treatment, reduced reliance on subjective assessments, and a deeper understanding of the disorder's neurobiological mechanisms. Globally, approximately 24 million people, or 1 in 300 individuals (0.32%), suffer from schizophrenia, with adults experiencing this at a rate of one in 222 (0.4%), as reported by the World Health Organization in January 2022. This prevalence underscores the significance of neurological biomarkers in addressing conditions such as schizophrenia.
Major companies are forging partnerships to enhance innovation and solidify their market positions. Collaborations, such as the one between NeuroSense Therapeutics Ltd. and NeuraLight, leverage complementary expertise to accelerate the development of biomarkers for neurological disorders. In this case, the partnership aims to identify oculometric indicators for Amyotrophic Lateral Sclerosis (ALS) using Artificial Intelligence (AI) and Machine Learning (ML). Such collaborations facilitate the advancement and commercialization of novel therapies by combining resources and expertise.
Major companies in the neurological biomarkers market are developing innovative products, including advanced biomarker blood tests. Quanterix Corporation, for instance, launched the LucentAD biomarker blood test. This test, analyzing p-Tau 181 levels, aids medical professionals in evaluating patients with cognitive symptoms indicative of Alzheimer's disease. The test is positioned as a diagnostic tool for adults undergoing assessment for Alzheimer's disease but is not intended for standalone screening or diagnosis, emphasizing the need for a comprehensive diagnostic approach.
In May 2021, GE Healthcare acquired Zionexa, a molecular technology company, to expand its portfolio of precision cancer medicines. Zionexa's focus on developing in vivo oncology and neurology biomarkers aligns with GE Healthcare's objectives in advancing medical technology.
Major companies operating in the neurological biomarkers market report are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Novartis AG, Thermos Fisher Scientific Inc., AstraZeneca Plc, Abbott Laboratories, Boehringer Ingelheim International GmbH, Becton Dickinson and Company, Agilent Technologies Inc., Grifols S.A., Eisai Co. Ltd., PerkinElmer Inc., Illumina Inc., Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Mallinckrodt Plc, Qiagen N.V., Luminex Corporation, Siemens Healthineers, Olink Proteomics, Meso Scale Diagnostics, Quanterix Corp., Fujirebio, Cisbio Bioassays SAS, NeuroVision Imaging, Proteome Sciences Plc, Acumen Pharmaceuticals.
North America was the largest region in the neurological biomarkers market in 2023. The regions covered in the neurological biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the neurological biomarkers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The neurological biomarker market consists of sales of genetic testing kits, electroencephalography (EEG) devices, and biomarker assay kits. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neurological Biomarkers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neurological biomarkers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neurological biomarkers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neurological biomarkers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.