Neurological biomarkers are biological molecules that can be used to measure or indicate normal or disease biological processes or pharmacological responses to therapeutic interventions. Some neurological conditions like Alzheimer’s disease, traumatic brain injury, Parkinson’s disease, multiple sclerosis among others that have no definitive diagnosis available and the current diagnosis is based on clinical assessment needs advancements like biomarkers. With advancements in neuroscience and genomics, neurological biomarkers are being increasingly used for early and accurate diagnosis as well as prognosis, monitoring therapeutic efficacy, and compound screening for neurological conditions. For instance, beta-amyloid and tau/phospho-tau in cerebrospinal fluid (CSF) and positron emission tomography (PET) imaging are used as biomarkers for Alzheimer’s disease diagnosis. Likewise, α-synuclein is being studied as a potential biomarker for Parkinson’s disease.
The global Neurological Biomarkers Market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Advancement in Biomarker-based Diagnostics: Advancement in biomarker discovery through technologies like genomics, proteomics are enabling identification of novel biomarkers for neurological conditions from easily accessible samples like blood, urine etc. For instance, Neurotrophin protein family is being explored as potential plasma biomarkers for traumatic brain injury diagnosis and outcome prediction. This is expected to boost the demand for neurological biomarkers in coming years.
High Prevalence of Neurological Disorders: Increasing prevalence of neurological disorders like Alzheimer’s disease, Parkinson’s disease, traumatic brain injuries etc. globally is a key factor driving the growth of neurological biomarkers market. According to WHO, neurological disorders currently affect over 2 billion people globally and collectively pose a huge disease burden on economies and healthcare systems. This leads to growing significance of accurate early diagnosis offered by biomarkers.
Segment Analysis
The global neurological biomarkers market is dominated by protein biomarkers that account for nearly 48% of the market share. Protein biomarkers continue to dominate as they can be measured easily through techniques such as enzyme-linked immunosorbent assay. Blood-based protein biomarkers have emerged as important tools for diagnostic and prognostic purposes due to the non-invasive nature of blood collection.
PEST Analysis
Political: Regulations around patient data privacy and security has increased over the years in different regions to ensure protection of sensitive patient information. This has impacted R&D activities involving large patient datasets.
Economic: Rising geriatric population worldwide prone to neurological disorders will drive growth. However, high costs associated with development and regulatory approvals of biomarkers poses a challenge.
Social: Increased awareness about early disease detection and advances in diagnostics is positively impacting the market. Social stigma around some neurological conditions also influences treatment-seeking behavior.
Technological: Ongoing research on exosome biomarkers, advanced proteomics and next-generation sequencing has enabled discovery of novel biomarkers. Wearables and sensor technologies also offer opportunities for remote patient monitoring.
Key Takeaways
The Global Neurological Biomarkers Market Growth is expected to witness high over the forecast period of 2023 to 2030. The global Neurological Biomarkers Market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
North America currently dominates the market owing to presence of major players and higher adoption of advanced diagnostics. The Asia Pacific region is also expected to grow at a robust pace due to rising healthcare spending, growing geriatric population, and increasing focus of international players in the region.
Some of the key players operating in the neurological biomarkers market include Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd., ACG Materials, Anhydritec, BNZ Materials Inc., American Gypsum, Gyptec Iberica. Major players are focusing on developing novel biomarker panels through collaborative R&D with research institutes to aid early disease detection and precision medicine efforts.
Key players are also investing in digital platforms for remote patient monitoring and data analytics to enhance customer experience. Partnerships with diagnostic service providers and hospitals are helping companies expand geographical presence and commercialization of biomarker tests. While the market shows promising growth opportunities, high degree of regulatory oversight and lengthy approval timelines remain key challenges.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it