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The Neurological Biomarkers market size is estimated to grow by USD 6,917.68 million at a CAGR of 12.88% between 2022 and 2027.
Governments and healthcare organizations are taking numerous initiatives to improve access to healthcare for patients with neurological disorders. For instance, the World Health Organization (WHO) is working with its partners and stakeholders to improve access to care for individuals with epilepsy. The aim of the Brain Donor project is to increase knowledge about the internal workings of the human brain and find ways to improve the treatment and prevent and cure brain disorders. Moreover, The National Institute of Neurological Disorders and Stroke (NINDS), a component of NIH, aims to reduce the burden of neurological diseases through research and by improving treatments and preventive measures.
Technavio has segmented the market into Indication, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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AD segment
The market share growth by the AD segment will be significant during the forecast period. AD is a brain disorder that destroys memory and thinking skills and, eventually, the ability to carry out simple tasks. For the first time, AD diagnostic guidelines have been revised to include the use of brain imaging and CSF biomarkers to check whether an individual has a progressing AD neuropathological process.
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The AD segment was valued at USD 1,544.62 million in 2017. Histopathology is expected to uncover evidence of the trademark symptoms of AD, which are extracellular aggregations of beta-amyloid in decrepit plaques and intracellular neurofibrillary tangles of hyperphosphorylated Tau. In order to determine the diagnosis of a pathological condition, these symptoms must be observed in sufficient numbers. It is expected to drive the growth of the AD segment of the market in focus during the forecast period.
Hospitals
Hospitals are the key end-users of neurological biomarkers, which greatly influence market growth. Large hospitals such as multispecialty hospitals and hospital groups work under government support or through funding from private entities and have more than 500 hospital beds, enabling the facility to provide accommodation for individuals. Medium-sized hospitals have a limited number of supplier groups. However, sales of neurological biomarker products in medium-sized hospitals are expected to increase, which will thereby drive the growth of the hospital segment of the market in focus during the forecast period.
Clinical diagnostic centers
Clinical diagnostic centers use screening tests to check the efficacy of neurological samples using specific biomarkers. In developed nations such as the US, revenue from various clinical diagnostic centers increased with the increasing number of people diagnosed with neurological diseases. In developing countries, private healthcare providers focus on efficiency and scale so that they are able to meet the high volume of patients. However, the lack of advanced diagnostic systems in these developing countries is expected to hamper the sale of neurological biomarkers in the segment. However, the growth in biotechnology R and D in developing countries such as India and China will propel the growth of the market in focus during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The increasing demand for the diagnosis of neurological disorders has boosted the demand for neurological biomarkers. For instance, an estimated 6.2 million Americans aged 65 and older lived with Alzheimer's dementia in March 2021. The number could grow to 13.8 million by 2060. With the high prevalence of neurological disorders, and the growing aging population, there is a significant amount of money being spent on healthcare for the treatment of neurological illnesses, and favorable reimbursement policies for neuro-diagnostic procedures are expected to drive market growth during the forecast period.
Neurologic complications in patients with COVID-19 are common. Moreover, with the initiation of large-scale COVID-19 vaccination drives by the governments in Q4 2020 the regional economy was revived and the number of COVID-19 patients decreased significantly. This, in turn, led to the lifting of cross-border restrictions and the resumption of healthcare facilities, which is expected to drive the growth of the regional market in focus during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 18 market companies, including:
ACROBIOSYSTEMS INC.- The company offers neurological biomarker such as Plasma ubiquitin C terminal hydrolase L1 which is used as a screening tool for traumatic brain injury.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing incidence of neurological disorders is driving growth in neurological biomarkers. The patient with a broad range of neurological disorders, including epilepsy, stroke, Parkinson's disease, and brain tumors, have a high risk of developing a disability. Parkinson's disease is a prevalent neurological disorder that affects many people.
Factors such as the increasing occurrence and prevalence of various neurological disorders and the growing demand for the treatment of such disorders to save the lives of patients. The rise in the number of stroke cases and neurological disorders, including epilepsy, stroke, Parkinson's disease, and brain tumors, is expected to boost the growth of the market in focus during the forecast period.
The increasing focus on accurate neurological diagnostics is a neurological biomarkers market. Brain injuries such as TBIs leave serious and lasting damage to people. Usually, CT scans are used to check for bleeding or swelling in the brain; however, they are not capable of detecting accurate results. Thus, delivering accurate results for neurological disorders with the help of CT scans is more challenging.
Therefore, over the last few years, blood tests to detect brain biomarkers have gained popularity. Thus, vendors are developing clinical trials and R&D of biomarkers, which will give more accurate results for neurological disorders. the strategies adopted by the vendors will drive the demand for neurological biomarkers during the forecast period.
The inherent challenges in neurological research are a major challenge faced by the neurological biomarkers market. It's a complicated procedure to move biomarkers from discovery into clinical practice. The main challenges include stringent validation strategies and moderate progression of the disease, requiring a high number of patients to experience long-haul treatment when traditional diagnostic parameters are utilized.
However, since the rise of the supposed innovation, various biomarkers have been distinguished and published, which have expanded the options for the growth of more viable therapeutics. The financial aspects of healthcare services in the long term are expected to be significantly affected by these opportunities. The lack of neurological research globally is expected to hinder the growth of the global neurological biomarkers market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Neurological Biomarkers Market Customer Landscape
The neurological biomarkers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Neurological Biomarkers Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.88% |
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Market growth 2023-2027 |
USD 6,917.68 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
12.0 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 43% |
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Key countries |
US, Canada, Germany, UK, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, ACROBIOSYSTEMS INC., Advanced Brain Monitoring Inc., Bio Rad Laboratories Inc., bioMerieux SA, Charles River Laboratories International Inc., EATRIS ERIC, Eli Lilly and Co., Enzo Biochem Inc., F. Hoffmann La Roche Ltd., HU Group Holdings Inc., Merck KGaA, Metabolon Inc., Proteome Sciences plc, QIAGEN NV, Quanterix Corp., Quest Diagnostics Inc., Thermo Fisher Scientific Inc., IQVIA Holdings Inc., and PerkinElmer Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Indication
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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