New York, NY, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a recent study report titled "Neurological Biomarkers Market Share, Size, Trends, Industry Analysis Report, By Type (Metabolomic, Genomic, Imaging, Proteomic, Others); By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" in its research database.
As per the recent analysis by Polaris Market Research, the global neurological biomarkers market size was valued at USD 7.39 billion in 2022 and is predicted to reach USD 24.83 billion by 2032. Also, the study states that the market reveals a robust 13.0% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032.
What are Neurological Biomarkers? How Big is Neurological Biomarkers Market Size and Share?
- Overview
A pattern of genes or proteins can be a sophisticated biomarker, or it can be as simple as a lab test. Practically speaking, the biomarker might be utilized for diagnosis of disease monitoring during and after therapy and would accurately and precisely reflect a state of illness.
Neurological biomarkers are recognizable substances that are mainly found in cerebrospinal fluid (CSF) after brain damage. They are important for early drug development, neurological disorder diagnosis, and personalized medicine. However, ongoing research and advancements in neurology have made it possible to develop innovative detection methods and better treatments for conditions such as Parkinson's disease, schizophrenia, Alzheimer's disease, and more. As a result, the neurological biomarkers market demand is expanding.
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What are the Key Findings of the Report?
- The increasing prevalence of neurological diseases increased patient and physician awareness of the condition, continued technological advancements, and increased efforts in research and development for the creation of medications to treat neurological disorders are some of the major factors anticipated to propel the growth of the neurological biomarkers market.
- The neurological biomarkers market segmentation is primarily based on application, type, region, and end-use.
- North America dominated the market with the largest share in 2022.
Who are the Key Players of Neurological Biomarkers?
- Abbott
- Alseres Pharmaceuticals, Inc.
- BANYAN BIOMARKERS, INC.
- Bio-Rad Laboratories, Inc.
- DiaGenic ASA
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Myriad Genetics, Inc.
- Quanterix
- Thermo Fisher Scientific, Inc.
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Market Dynamics
- Which Factors are Driving the Market Growth?
The neurological biomarkers market size is expected to increase as a result of the rising incidence of neurological disorders, which include ailments like epilepsy, brain tumors, dementia, migraines, and Alzheimer's disease. For instance, the World Health Organization estimates that epilepsy accounts for about 13 million disability-adjusted life years and more than 0.5% of all diseases worldwide.
Additionally, it is anticipated that the growing prevalence of Alzheimer's among the elderly will support market expansion. For example, according to WHO estimates, 10 million new cases of dementia are recorded each year, affecting about 50 million individuals worldwide.
- What are the Latest Market Trends and Opportunities?
The neurological biomarkers market is expanding as a result of more research and advancements in the use of antigen-antibody binding approaches for Parkinson's disease diagnosis. Furthermore, there are a lot of unmet medical requirements that are highlighted by the increased prevalence of neurological illnesses. As a result, there is an increasing need for biomarkers to aid in the diagnosis, treatment development, and monitoring of neurological diseases.
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Overview of the Top Segments
- The Proteomic Sector Holds the Largest Revenue Share
In particular, proteomic indicators are crucial when mRNA expression is insufficient to disclose the functional consequences of different post-translational modifications fully. In these cases, proteomic biomarkers—which painstakingly identify protein signatures and post-translational modifications—become essential for precisely determining the start and course of diseases. These biomarkers have demonstrated remarkable efficacy in identifying the molecular modifications that underlie intricate and inexplicable disorders such as Alzheimer's disease (AD).
Moreover, when it comes to determining whether specific metabolic pathways are impacted by the course of a disease or its treatment, metabolic biomarkers are crucial. These biomarkers function as indicators of the products that cells, tissues, and organs continue to undergo biological processes to produce.
- The Alzheimer’s Disease Sector Accounts for Highest Market Share
Alzheimer's disease had the largest neurological biomarkers market share in 2022 and is expected to continue to be the dominant condition for the duration of the forecast period. The main causes of this are the rising incidence of the illness and the increased focus on prompt diagnosis and treatment.
Moreover, over the projection period, the Parkinson's disease segment is anticipated to grow at the quickest rate. There are now more opportunities for Parkinson's disease treatment thanks to the rise in biomarker research and development.
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Neurological Biomarkers Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 24.83 Billion |
| Market size value in 2023 | USD 8.29 Billion |
| Expected CAGR Growth | 13.0% from 2023 – 2032 |
| Forecast Year | 2023 – 2032 |
| Segments Covered | By Type, By Application, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Landscape
North America: The neurological biomarkers market in North America is expected to develop due to several factors, such as the rising incidence of neurological illnesses and the expansion of government programs that support the industry. The industry is also anticipated to gain from a rise in the number of new product launches and a rise in the need for biomarkers.
Asia Pacific: The Asia-Pacific market is expected to increase due to the increasing number of clinical trials being conducted in developing countries like India and China, the rising number of people suffering from diseases, and the growing need for treatments that target the central nervous system. The Asia-Pacific region's primary drivers include rising disposable income, improvements in the healthcare system, and rising consumer awareness.
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Current Progresses
- On Rare Disease Day in February 2023, Ad Scientiam, a leading company in the field of digital biomarkers, will initiate two audacious projects to develop and validate novel digital biomarkers for the self-evaluation of patients with common Chronic Neurological Diseases such as neuromyelitis optica spectrum disorders (NMOSD) and myasthenia gravis (gMG).
- To advance the field of digital biomarkers for the identification and tracking of neurological diseases, including amyotrophic lateral sclerosis (ALS), NeuraLight, a company that specializes in the creation of precise and responsive biomarkers for neurological disorders, and NeuroSense Therapeutics Ltd., a company that is committed to developing remedies for severe neurodegenerative conditions, joined forces in July 2022.
Report Answers to the Following Questions
- What is the expected neurological biomarkers market growth rate during the forecast period?
- How much is the current and estimated market value during the forecast period?
- Which is the fastest-growing region of the market?
- What is the study period of the market?
Polaris Market Research has segmented the Neurological Biomarkers market report based on type, application, end-user, and region:
By Type Outlook
- Metabolomic
- Genomic
- Imaging
- Proteomic
- Others
By Application Outlook
- Autism Spectrum Disorder
- Parkinson's Disease
- Alzheimer's Disease
- Multiple Sclerosis
- Others
By End Use Outlook
- Independent clinical diagnostic centers
- Research Organizations and Others
- Hospital & Hospital Laboratories
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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