Global Neurological Biomarkers Market Size, Share & Industry Trends Analysis Report By Type (Proteomic, Genomic, Metabolomic), By Application (Alzheimer's Disease, Parkinson’s Disease and Multiple Sclerosis), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Neurological Biomarkers Market
Market Report Description
The Global Neurological Biomarkers Market size is expected to reach $12.9 billion by 2028, rising at a market growth of 14.2% CAGR during the forecast period.
The term "biomarker," a portmanteau of "biological marker," refers to a large subclass of medical signs, or objective indicators of health status seen from the outside of the patient, which can be quantified precisely and consistently. Medical symptoms, on the other hand, are only those markers of health or disease that patients themselves may perceive. The literature contains several more detailed definitions of biomarkers, and they have a lot in common.
A biomarker is "a characteristic that is measured and evaluated objectively as an indicator of normal biochemical functions, pathogenic processes, or pharmacologic responses to a therapeutic intervention," according to the National Institutes of Health Biomarkers Definitions Working Group definition from 1998.
The World Health Organization (WHO), in collaboration with the United Nations and the International Labor Organization, established the International Program on Chemical Safety, which defines a biomarker as "any substance, structure, or procedure that can be evaluated in the body or its product lines and influence or predict the incidence of outcome or disease.
A definition that goes even further considers not only the occurrence and course of a disease, but also its treatment, interventions, and even inadvertent environmental exposure to substances like toxins or nutrients. Before the invention of better technology, it was difficult for researchers to monitor brain health by analyzing molecules since there were so few biomarkers for neurological illnesses. This entails less invasive testing, quicker medication development, earlier diagnosis, and hopefully more efficient therapies.
COVID-19 Impact Analysis
Almost every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to influence industry growth throughout the course of the forecast period. According to research by Diaceutics PLC (UK) on the diagnosis and biomarker testing rates for various cancer types, the number of newly diagnosed patients with metastatic non-small cell lung cancer decreased between February 2020 and March 2020. The rates of KRAS, BRAF, and EGFR testing, which are important indicators supporting the optimal choice of precision medicine medicines that benefit particular patients, were also significantly influenced by this abrupt decline in just one month.
Market Growth Factors
Companion Diagnostics Are Becoming More Important
In the practice of medicine, companion diagnostics and biomarkers are becoming more and more important, which has enhanced disease-specific diagnosis, therapy, and monitoring. It can be used to identify patients who will likely respond well to specific treatments or drugs. These diagnostics frequently go hand in hand with certain medicine.
The Growing Concept of Individual Medicine
In customized medicine, biomarkers are crucial because they can be used for diagnosis, prognosis, and choosing specific treatments. Personalized medicine has grown in popularity over time as a result of the different drawbacks of conventional methods for diagnosis and treatment. Numerous medical specialties from cancer to immunological disorders are moving toward individualized patient care based on their genetic profiles and phenotypic traits.
Marketing Restraining Factor:
High Startup Costs and Protracted Biomarker Development Cycles
Due to the variability in how well they perform in illness detection, evaluating biomarkers is a time-consuming process. As a result, the validation procedure grows expensive and time-consuming. The process and timetable for developing and validating biomarkers are therefore comparable across biomarker categories, with a few exceptions, because different categories of biomarkers frequently share common development and validation process phases.
Based on the Type, the Neurological Biomarkers Market is segmented into Genomic, Proteomic, Metabolomic, and Others. The genomic segment acquired a significant revenue share in the neurological biomarkers market in 2021. Increased prevalence of neurological disorders, an increase in the estimated incidence of ischemic stroke, elevated demand for minimally procedures, technological advancements in clinical laboratory tests and rising public awareness of genomic biomarker-based personalized medicines are all contributing factors to the expansion of the genomic biomarkers market.
On the basis of Application, the Neurological Biomarkers Market is divided into Parkinson's Disease, Alzheimer's Disease, and Multiple Sclerosis. The Alzheimer’s disease segment procured the largest revenue share in the neurological biomarkers market in 2021. due to an increase in clinical trials, research, and drug development as well as an increase in the prevalence of Alzheimer's disease. Drug development for Alzheimer's disease (AD) heavily relies on biomarkers.
|Market size value in 2021||USD 5.2 Billion|
|Market size forecast in 2028||USD 12.9 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 14.2% from 2022 to 2028|
|Number of Pages||163|
|Number of Tables||270|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Neurological Biomarkers Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered the highest revenue share in the neurological biomarkers market in 2021. The increase in American studies suggests a decrease in the age-specific risk of Alzheimer's disease and other forms of dementia in the United States and other high-income western nations over the previous 25 years.
Free Valuable Insights: Global Neurological Biomarkers Market size to reach USD 12.9 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. HOFFMANN-LA ROCHE LTD., Bio-Rad Laboratories, Inc., Merck Group, PERKINELMER INC., Shimadzu corporation, Thermo Fisher Scientific, Inc., Quanterix Corporation, Neuro-Bio Ltd., BioMérieux S.A. and Myriad Genetics, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Alzheimer's Disease
- Parkinson’s Disease
- Multiple Sclerosis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- F.HOFFMANN-LA ROCHE LTD.
- Bio-Rad Laboratories, Inc.
- Merck Group
- PERKINELMER INC.
- Shimadzu corporation
- Thermo Fisher Scientific, Inc.
- Quanterix Corporation
- Neuro-Bio Ltd.
- BioMérieux S.A.
- Myriad Genetics, Inc.
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