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 Biomarkers Market Analysis
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.
Neurological Biomarkers Market Overview
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.
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Neurological Biomarkers Market: Strategic Insights
Market Size Value in US$ 5,501.8 Million in 2020 Market Size Value by US$ 14,454.7 Million by 2027 Growth rate CAGR of 13.0% from 2020 to 2027 Forecast Period 2020 - 2027 Base Year 2020
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Neurological Biomarkers Market: Strategic Insights
| Market Size Value in | US$ 5,501.8 Million in 2020 |
| Market Size Value by | US$ 14,454.7 Million by 2027 |
| Growth rate | CAGR of 13.0% from 2020 to 2027 |
| Forecast Period | 2020 - 2027 |
| Base Year | 2020 |
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Neurological Biomarkers Market Drivers and Opportunities
Rapid Developments in Healthcare to Favor the Overall Market
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.
Advances in Biomarker Discovery – An Opportunity of the Neurological Biomarkers Market
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.
Neurological Biomarkers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Neurological Biomarkers Market analysis are product and application.
- Based on product, is segmented into proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, and others. In 2023, the genomics biomarkers segment held the largest neurological biomarkers market share, and the same segment is expected to grow at the fastest rate during the forecast period. Genomics has made substantial progress towards personalized diagnostics and therapeutics based on individual genetic variations. Genomic biomarkers have proven their use in the identification of neurological diseases such as Parkinson’s disease, Alzheimer’s disease, Huntington’s disease, Autism, and others. The rising advent of personalized medicines and genetic profiling for diagnostics and therapeutic applications of neurological disorders is expected to augment the growth of the segment over the coming years.
- The application segment is segmented into Alzheimer’s disease, Parkinson's disease, schizophrenia, Huntington's disease, spinal muscular atrophy, and others. The Alzheimer’s disease segment held the highest share of the neurological biomarkers market in 2023, and the same segment is anticipated to witness growth at a significant rate from 2024 to 2031. Alzheimer’s disease refers to a progressive disorder that results in brain cells wasting away (degenerating) and eventually dying. As the disease develops, the patient suffers from severe memory impairment and inability to perform everyday tasks. The medications available at the current state may temporarily improve symptoms or slow the rate of decline. The increasing incidence of the disease is expected to account for the growth of the neurological biomarkers market over the coming years.
- Based on end users the market is segmented into pharmaceutical and biotechnology companies, clinical diagnostics, and research organizations. In 2023, the pharmaceutical and biotechnology companies segment held the largest market share, and the same segment is also expected to grow at the fastest rate in the coming years. Thus, the above-mentioned factors are responsible for the growth of the neurological biomarkers market size.
Neurological Biomarkers Market Share Analysis by Geography
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.
Neurological Biomarkers Market Report Scope
Neurological Biomarkers Market News and Recent Developments
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:
- In April 2021, Quantrix Corp., announced a webinar with leading industry experts to discuss neurological advancements related to the ultra-sensitive quantification of pTau181, pTau217, pTau231, and other neurological biomarkers (Source: Quantrix Corp, Press Release, 2021)
Neurological Biomarkers Market Report Coverage and Deliverables
The “Neurological Biomarkers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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