Neurological Biomarkers Market

Global Neurological Biomarkers Market Size (2023 to 2028)

The global neurological biomarkers market is estimated to be worth USD 18.87 billion by 2028 from USD 10.03 billion in 2023, growing at a CAGR of 13.47% from 2023 to 2028.

Impact of COVID-19 on the global neurological biomarkers market:

COVID-19 had a huge impact on the global neurological biomarkers market. As per a survey by Cleveland Clinic, a close association between Covid-19 genes and Dementia, a nervous ailment was found. The other surveys also signalled an increase in the number of biomarkers detected during rising covid cases which represented associated symptoms of neurological conditions with the covid cases. Therefore, there was a surge in the market growth as more and more patients reported neurological symptoms which increased the use of medical tests and tools for the measurement of neurological biomarkers. Another survey concluded that SARS-CoV-2 inflammation led to various types of neurological infections and cerebral microvascular wounds, which may lead to mental disorders as well. Hence, the effect of the COVID-19 epidemic is anticipated to fuel the growth of the global neurological biomarkers market over the forecast period owing to the growing neurological ailments because of the rising number of coronavirus inflammation cases.

MARKET DRIVERS:

The growing number of neurological disorders globally primarily drive the growth of the neurological biomarkers market. As per a 2019 report, above 5.8 million people in the US were suffering from Alzheimer’s linked with dementia. Therefore, the rising number of ailments will raise the demand for accurate and reliable medical tests and tools used to measure neuro biomarkers. The growth of the global neurological biomarkers market is also driven by the growing demand from people for less invasive testing methods and early detection of neurological diseases. Due to their ability to speed up drug development, neuro biomarkers are becoming more important.

Technological advancements in the healthcare industry further drive market growth as there is an increased focus on research and development for enhancing the efficiency of biomarker tests. Advancements in areas like imaging genomics and proteomics are likely to boost the market growth. The various Government initiatives and grants also support the development of new biomarker-based diagnostic tests. The rising awareness among people across the globe is on the rise due to an increase in the number of screening programs for neurological disorders, which contributes to the market growth. Overall, the neurological biomarkers market is expected to continue to grow as advances in technology and research lead to the development of new and improved diagnostic tests for neurological disorders.

MARKET RESTRAINTS:

The lack of consistency of certain neurological prodrugs hampers the market growth. As per a survey generated in FMJ in 2019, CSF DJ-1, a neurological prodrug for paralysis agitans, exhibited unpredictable outcomes and ambiguity. Therefore, a lack of standardisation in biomarker-based tests can lead to variable results limiting their accuracy and making them less reliable. High costs associated with neurological biomarkers further impede the market growth. The high cost of biomarker tests can lead to decreased demand, especially in low-income countries, where there is a lack of healthcare resources and infrastructure, and people cannot afford expensive diagnostic tests. Apart from the above, stringent regulatory requirements for biomarker-based tests can increase the time and cost associated with bringing new tests to market and reimbursement options in certain regions can impact their adoption and use in clinical practice. These market restraints may impact the growth of the neurological biomarkers market. However, the ongoing research and development efforts are focused on addressing these challenges and improving the accessibility, accuracy, and reliability of biomarker-based diagnostic tests for neurological disorders.

REPORT COVERAGE: 

This research report on global neurological biomarkers market has been segmented and sub-segmented based on the following categories.

Global Neurological Biomarkers Market – By Type:

• Genomic
• Imaging
• Metabolomic
• Proteomic
• Others

Based on type, the proteomics segment is expected to continue the domination in the global neurological biomarkers market during the forecast period owing to the high adoption of proteomic biomarkers. Proteomic biomarkers are highly effective against neurological diseases as they provide detailed protein profiling of tissue, plasma, serum, and cerebral spinal fluid. The study of these proteins is highly essential as they aid in developing new biomarkers. Therefore, it is expected that this segment will dominate the market during the forecast period as well.

Global Neurological Biomarkers Market – By Application:

• Alzheimer's Disease
• Parkinson's Disease
• Multiple Sclerosis
• Autism Spectrum Disorder
• Others

Based on application, the Alzheimer’s disease (AD) segment is anticipated to hold the largest share of the global neurological biomarkers market. This is largely due to the increase in overall prevalence of the disease which led to a rise in the number of clinical trials. AD is the most common type of neurodegenerative disease. AD is expected to dominate the market during the forecast period as well. According to the WHO, around 55 million people suffer from dementia globally in which Alzheimer's disease accounts for approximately 60 to 70 per cent. This condition is more prevalent in older people above 70 years of age. Therefore, the rising geriatric population will also drive market growth over the forecast period. Additionally, the increased government and NGO funding for Alzheimer-related research and development is expected to drive the market expansion.

Global Neurological Biomarkers Market – By End User:

• Hospital & Hospital Laboratories
• Independent Clinical Diagnostic Centers
• Research Organizations and Others

Global Neurological Biomarkers Market – By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America dominated the global neurological biomarkers market in 2022 and is expected to maintain its leading position during the forecast period. This is due to the increase in the number of neurological disorders among people, robust healthcare infrastructure, and rise in expenditure on healthcare. Thus, the increase in Alzheimer's disease, Parkinson’s disease and multiple sclerosis in North America is projected to drive the market growth. According to the Centre for Disease Control and Prevention (CDC), around 6.5 million people are living with Alzheimer's in the U.S. Furthermore, the increase in research and development funding, and the increasing concentration of key players in the region indulged in acquirements, and collaborations are anticipated to boost the development of the neurological biomarkers market during the forecast period.

However, the Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period. This can be attributed to the increased rate of neurological disorders cases and rising awareness among people.

KEY MARKET PLAYERS:

The major players operating in the global neurological biomarkers market are Abbott Laboratories, Quanterix Corporation, Thermo Fisher Scientific Inc., QIAGEN N.V., Merck KGAA, Bio-Rad Laboratories Inc., Immunarray Pvt. Ltd., Banyan Biomarkers Inc., Johnson & Johnson, Proteome Sciences, ACOBIOM, Myriad Genetics Inc., DiaGenic ASA, Olink Biosciences and Acumen Pharmaceuticals.

RECENT HAPPENINGS IN THE MARKET:

• In April 2023, a new study  identified potential neurological biomarkers of long COVID-19 in nonhuman primates that may help physicians diagnose, monitor and treat this condition. A team of researchers at Tulane University is trying to shed light on this condition and find tools to manage it. They published their work in the journal Molecular & Cellular Proteomics. The team found that certain proteins associated with neurodegenerative disorders, such as Parkinson's disease, were elevated in the brain, cerebrospinal fluid and blood after SARS-CoV-2 infection even in nonhuman primates that showed mild or no symptoms.
• In April 2023, Alterity Therapeutics, a biotechnology company dedicated to developing disease-modifying treatments for neurodegenerative diseases, presented promising Wearable Sensor Data from the bioMUSE Natural History Study at the American Academy of Neurology. This analysis from bioMUSE demonstrates that wearable sensors can quantify motor impairment in MSA patients that is not captured by neurological examination.