Number of pages: 100 | Report Format: PDF | Published date: December 15, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global neurological biomarkers market was pegged at US$ 6.5 billion in 2021 and is expected to register a revenue CAGR of 11.9% to reach US$ 17.88 billion by 2030.
Neurological biomarkers are present in the cerebral spinal fluid (CSF). They can be studied with the CSF or with the help of biomarker signatures. Neurological biomarkers are used for the treatment of neurological disorders such as Alzheimer's disease, Parkinson's disease, autism, and depressive disorder.
The rise in the incidence rate of neurological disorders such as dementia, Alzheimer's Disease, Parkinson's Disease, brain trauma, and migraine is a crucial factor driving the global neurological biomarkers market revenue growth. Moreover, the increase in demand for the early diagnosis of neurological diseases and minimally invasive testing procedures is also boosting the global market revenue growth. There is a rise in the need for neurological biomarkers as they reduce the time required for drug development. Similarly, the biomarkers are used for disease monitoring, confirming diagnoses, and treatment determination, thus facilitating a consistent demand. Furthermore, the rise in technological advancement and the recent developments in neurological biomarkers, such as clusters of biomarkers or biomarker signatures, are also increasing the demand for neurological biomarkers. Moreover, the continuous investment by the major companies in research and development is expected to boost the revenue growth of the global market. However, neurological biomarkers are mostly restricted to research and study of the disease progression, thus, are hindering the market revenue growth. Moreover, stringent regulations for the approval are also hampering the development of the global neurological biomarkers market in terms of revenue share.
The global neurological biomarkers market has been analyzed from four perspectives: type, application, end-user, and region.
Neurological Biomarkers Market by Type
Based on types, the global neurological biomarkers market has been segmented into genomic, metabolomic, proteomic, imaging, and others.
The proteomic segment accounts for the largest market revenue share of the global neurological biomarkers market. Proteomics provides a deep protein profiling of tissue, plasma, serum, and cerebral spinal fluid (CSF) for biomarker discovery, thus playing a pivotal role in the segment’s revenue growth. Additionally, quantitative proteomics tools are capable of the high throughput quantification of thousands of proteins from minimal sample volumes, thus increasing the demand for proteomic biomarkers. Similarly, proteomics enables biomarker development using established mass spectrometry-based platforms and more recent platforms like multiplexed immunoassays and aptamer methods by identifying disease-related protein changes, thus fueling the segment’s revenue growth.
Neurological Biomarkers Market by Application
Based on applications, the global neurological biomarkers market is segmented into Alzheimer's disease, Parkinson's disease, multiple sclerosis, and others.
The Alzheimer's disease segment dominates the global neurological biomarkers market with the largest market revenue share. The large percentage of the Alzheimer's disease segment can be attributed to the consistent disease prevalence and the growing incidence of early-onset Alzheimer's disease. Alzheimer's is the most common type of dementia. According to the WHO, Alzheimer's accounts for approximately 60% to 70% of all dementia cases globally, thus propelling the segment's revenue growth. Furthermore, government and non-government organizations are increasingly investing in research and development related to managing and diagnosing Alzheimer's disease, which is expected to drive the segment’s revenue growth.
Neurological Biomarkers Market by End-user
Based on end-user, the global neurological biomarkers market is segmented into hospitals & laboratories, independent diagnostic centers, research organizations, and others.
The hospitals & laboratories segment dominates the global neurological biomarkers market with the largest revenue share. The large percentage of the hospitals & laboratories segment can be attributed to high patient footfall. Moreover, hospitals have extensive patient data, which can be further used in research.
Neurological Biomarkers Market by Region
Based on region, the global neurological biomarkers market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global neurological biomarkers market, followed by Europe. Asia Pacific is the fastest-growing region. The large revenue share of this region is attributed to the increasing prevalence rate of neurological disorders. According to the Centers for Disease Control and Prevention (CDC), around 6.5 million people are living with Alzheimer's in the U.S. Moreover, the rise in the R&D funding in the region for the neurological biomarker also propels regional revenue growth. The presence of major market players in North America and the rising government initiatives related to the growing awareness regarding neurological disorders will support sustained market revenue growth in North America to rise significantly during the forecast period.
The prominent players operating in the global neurological biomarkers market are:
The key companies operating in the global neurological disorders market are Abbott Laboratories, Quanterix Corporation, Thermo Fisher Scientific Inc., Qiagen, and Bio-Rad Laboratories Inc.
The estimated value of the global neurological biomarkers market in 2030 is US$ 17.88 billion.
The global neurological biomarkers market was valued at US$ 6.5 billion in 2021.
The rise in the prevalence rate of neurological disorders is the major driving factor the global neurological biomarkers. Additionally, the development of minimally invasive testing procedures using advanced technology is also driving market revenue to some extent.
North America accounts for the largest revenue share and dominates the global market as the key growth region.
*Insights on financial performance are subject to the availability of information in the public domain