Global Neurological Biomarkers Market

Neurological Biomarkers Market Size, Share, Growth Analysis, By Type(Genomic, Proteomic, Metabolomic, Imaging), By Application(Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis, Autism Spectrum Disorder), By End User(Hospital & Hospital Laboratories, Independent Clinical Diagnostic Centers, Research Organizations and Others), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2399 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 63 | Figures: 75

Neurological Biomarkers Market Dynamics

Neurological Biomarkers Market Drivers

Increasing Prevalence of Cancer to Fuel Research on Biomarker 

  • As biomarkers are important indicators of various health or disease traits. Cancer goes through a multistage carcinogenesis procedure involving multiple events from various molecular pathways, which makes its diagnosis, prognosis and therapy extremely complicated. Due to this complexity, a single marker is insufficient. In addition, each cancer type has its unique molecular profile. Identification of new biomarkers leads to the development of targeted therapies that target dysregulation in cancer. The increasing prevalence of cancer will, in turn, stimulate biomarker research and thereby boosting the growth of neurological biomarkers market. 

Advancement in Precision Medicine 

  • Research related to biomarker in neurodegenerative disease is a growing field in the personalized medicine. Numerous molecules have been evaluated and linked to different neurodegenerative diseases. The evolution of precision medicine has influenced the biopharmaceutical industry widely. Many players from biopharma to diagnostics organizations with several functions, like research and development to commercial operations, will experience a massive transformation. This is expected to have a positive influence on the growth of the market. 

Restraints 

High Complexity of Data 

  • Biomarker research involves the integration of complex data sets, which is one of the major challenges to market growth. Biomarker data is varied, high-volume, and fast evolving. This is because it can be derived from thousands of different platforms including conventional blood tests, NGS, FISH testing, and more. Lack of standards to report these data, especially for NGS based tests presents a challenge for interpretation and aggregation across organizations adopting different methods. Furthermore, differences in biomarker testing throughout racial, ethnic, and economic groups further hamper data accessibility and completeness.  

High Complexity of Diseases and Virus Structure 

  • The inherent complexity and heterogeneity of diseases constitute a bottleneck in the development of biomarkers. Due to their diverse molecular pathways and presentations in the clinic, universal biomarkers are hard to identify. Disease heterogeneity makes this more difficult, as every patient has unique molecular signatures, making it challenging to find common biomarkers applicable across populations. Additionally, disease progression is extremely dynamic that needs biomarkers to adjust to the transforming conditions with time. These complexities hinder translating biomarker research into clinical practice, where biomarkers must precisely highlight the varied disease manifestations for efficient diagnosis, prognosis, and treatment monitoring.
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Neurological Biomarkers Market size was valued at USD 6.13 Billion in 2022 and is poised to grow from USD 6.96 Billion in 2023 to USD 19.31 Billion by 2031, at a CAGR of 13.6% during the forecast period (2024-2031).

The neurological biomarkers industry is experiencing the presence of many renowned, small and mid-sized players. This companies are dynamically engaging in providing consumables, software and services related to biomarker. These stakeholders are actively taking strategic initiatives to maintain their competitive edge through partnerships, clinical trials and seeking for investment opportunities. Market competition happens to be the critical, as new players are entering into market with strong focus on technology advancements and investing large amount of dollars to have a stronger foothold in this space. 'Quanterix Corporation ', 'Thermo Fisher Scientific Inc. ', 'Myriad Genetics, Inc. ', 'QIAGEN N.V.', 'Bio-Rad Laboratories, Inc. ', 'Merck KGaA ', 'F. Hoffmann-La Roche Ltd ', 'Bio-Techne Corporation ', 'Alector Inc. ', 'Banyan Biomarkers, Inc. ', 'Charles River Laboratories International, Inc. ', 'Cisbio ', 'C2N Diagnostics ', 'ImmunArray ', 'Euroimmun AG ', 'Cerebrospinal Fluid Diagnostics ', 'Abbott Laboratories'

As biomarkers are important indicators of various health or disease traits. Cancer goes through a multistage carcinogenesis procedure involving multiple events from various molecular pathways, which makes its diagnosis, prognosis and therapy extremely complicated. Due to this complexity, a single marker is insufficient. In addition, each cancer type has its unique molecular profile. Identification of new biomarkers leads to the development of targeted therapies that target dysregulation in cancer. The increasing prevalence of cancer will, in turn, stimulate biomarker research and thereby boosting the growth of neurological biomarkers market. 

Increasing Funds for Research: The rising presence of companies offering funds at several stages of research is boosting market growth. For example, the University of North Texas Health Science Center (HSC) was offered almost USD 45.5 million in funds from the National Institutes of Health (NIH). This fund will help in supporting research related to health disparities in Alzheimer's and brain aging. NIH is also offering additional funds for biomarkers research for the present study for Health and Aging Brain Among Latino Elders (HABLE). Therefore, this new trend is fueling market growth. 

The largest piece in the global neurological biomarkers market share is held by North America. This growth is mainly due to the well-established healthcare and research infrastructure in the region. The United States and Canada houses major pharmaceutical and biotechnology companies which provides them a competitive advantage in the research & development for new neurological biomarkers. Moreover, the renowned medical device players involved in neurobiology are also contributing to the regional growth market. The market growth is also supported by the initiatives from government bodies providing grants and funding for different neuroscience projects. Various U.S. and Canadian universities and academic institutions are collaborating with industry to develop new biomarkers. 

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Global Neurological Biomarkers Market

Report ID: SQMIG35A2399

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