The Neurological Biomarker Market size was estimated to be US$ 5400.90 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 18600.93 million by 2031; it is estimated to record a CAGR of 13.6% in 2031. The market is driven by factors such as the rising prevalence of neurological diseases and the growing focus on neurological biomarkers research. However, concerns associated with the biomarkers will likely hinder market growth during the forecast period. Moreover, rapid developments in the overall healthcare sector are likely to remain key Neurological Biomarkers Market trends.
Neurological diseases significantly burden health systems in terms of disease diagnosis, treatment, and management. Some of the major neurological disorders are epilepsy, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchenne muscular dystrophy, and others. The geriatric population is susceptible to neurological diseases. Neuropathy, Parkinson's disease, Alzheimer's disease, and dystonia are among the most common neurological disorders affecting older people. According to the National Institutes of Health (NIH), 8.5% of the world's population (i.e., around 617 million people) are 65 and above. According to the World Health Organization (WHO), neurological diseases contribute 6.3% to the global disease burden and are one of the leading causes of death worldwide. In addition, 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries are reported due to neurological diseases. Rising cases of neurological disease in developed as well as emerging economies are driving the growth of the neurological biomarkers market.
Biomarkers are the molecules that indicate the presence of a disease. The biomarkers of neurological diseases were not that accessible in earlier days; however, advancements in technology have enabled tracking the brain's health condition by measuring the biomarkers. This helps in the earlier detection of a disease, is less invasive diagnostic enables faster drug development, and is expected to be an effective treatment.
Global neurological biomarkers market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market for neurological biomarkers. The neurological biomarkers market growth in the US is attributed to the market players adopting organic and inorganic strategies for market development. For instance, in May 2020, Quanterix Corporation, a company digitizing biomarkers analysis to advance the science of precision health, announced that it would expand its robust menu of ready-to-use Simoa kits to include tau phosphorylated at threonine 181 (p-tau181), a highly specific biomarkers for the study of Alzheimer’s disease pathology, in cerebral spinal fluid (CSF), serum and plasma. As per the Alzheimer’s Association, in 2020, an estimated 5.8 million Americans aged 65 or more are living with Alzheimer’s dementia, which is expected to reach 13.8 million by 2050. Thus, the growing prevalence of neurological diseases will likely favor the market's growth during the forecast period.
Rapid developments in the healthcare and drug discovery sector are leading to the introduction of new therapeutic solutions for the treatment of neurological diseases. Authorities such as the World Health Organization, the National Institute of Neurological Disorders and Stroke, and the National Institutes of Health are taking constructive steps to encourage research activities and find a remedy for neurological disease treatment. The National Institute of Neurological Disorders and Stroke (NINDS) biomarkers program is focused on enhancing the quality and efficiency of neurotherapeutic clinical research and supports the biomarkers validation. The program promotes rigorous biomarker identification and validation by providing funds for research activities. Biomarkers across Neurodegenerative Diseases (BAND) is a program that aims to stimulate research analyses on Alzheimer’s disease (AD), Parkinson’s disease (PD), and other neurodegenerative diseases. The Alzheimer’s Association, Alzheimer’s Research UK (ARUK), The Michael J. Fox Foundation for Parkinson’s Research (MJFF), and the Weston Brain Institute (Weston) fund multiple awards under this program.
This need is likely to drive the global neurological biomarkers market during the forecast period.
Biomarker discovery has been rising in recent years. For instance, in April 2021, two novel sleep biomarkers associated with neurodegenerative diseases (Parkinson’s disease and dementia) were discovered by a group of NIH-funded institutions using the Sleep Profiler EEG Sleep Monitor by Advanced Brain Monitoring, Inc. This discovery is not only critical for neurological diseases but the biomarker helps in brain-related understandings. Such advancements in the recent past are likely to generate attractive growth opportunities for the neurological biomarkers market.
Key segments that contributed to the derivation of the Neurological Biomarkers Market analysis are product and application.
The geographic scope of the Neurological Biomarkers Market report is mainly segmented into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.
The Asia Pacific region is expected to be the fastest-growing region among all other regions. The growth of the market in the Asia Pacific region is expected to grow at a faster pace owing to factors such as increasing need for superior diagnostic and treatment solutions, growing prevalence of neurological diseases, and increasing focus on research and development activities. Additionally, developing healthcare infrastructure and increasing investments to boost research activities are projected to drive the Asia Pacific neurological biomarkers market during the forecast period.
The regional trends and factors influencing the Neurological Biomarkers Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Neurological Biomarkers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5400.90 Million |
| Market Size by 2031 | US$ 18600.93 Million |
| Global CAGR (2023 - 2031) | 13.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Neurological Biomarkers Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Neurological Biomarkers Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Neurological Biomarkers Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for neurological biomarkers and strategies:
The “Neurological Biomarkers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: