The neurological biomarkers market has gained significant traction in recent years with growing prevalence of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, and other brain injuries. Neurological biomarkers are used to detect specific chemicals, genes, or other biomarkers in bodily fluids or tissues that serves as an indicator of normal biological processes, pathogenic processes, or pharmacological responses to therapeutic intervention. Key functions of neurological biomarkers include diagnosis, disease progression monitoring, drug discovery and development, and assessment of treatment response for various neurodegenerative disorders.
The global neurological biomarkers market is estimated to be valued at US$ 13,609.32 Million in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024-2030. Growth in the market is driven by increasing adoption of precision medicine, rising geriatric population suffering from neurological disorders, and growing R&D spending on development of novel therapies and diagnostics.
Key Takeaways
Key players operating in the Neurological Biomarkers Size are Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd., ACG Materials, Anhydritec, BNZ Materials Inc., American Gypsum, Gyptec Iberica.
The market provides ample opportunities for players involved in development of novel biomarkers for conditions like traumatic brain injuries, Alzheimer’s, Parkinson’s, and other neurological disorders. Biomarker discovery and validation, along with increasing focus on multi-modal approaches hold potential for market growth.
Technological advancements such as magnetic resonance imaging (MRI), positron emission tomography (PET) scanning, and development of lab-on-a-chip technologies have enabled non-invasive detection of neurological biomarkers from cerebral spinal fluid, blood, and urine samples. Such technological strides are expanding the scope of applications of neurological biomarkers.
Market Drivers
Growing geriatric population susceptible to age-related neurodegenerative disorders is a key factor driving the demand for reliable biomarkers to detect neurological conditions early and enable timely intervention. According to WHO, the number of people aged 60 years and older is expected to reach 2 billion by 2050 globally. Rising cases of neurological disorders thereby requires synchronous development and adoption of stratifying biomarkers for diagnosis and prognosis.
Current challenges in Neurological Biomarkers market:
The Neurological Biomarkers market is currently facing various challenges such as high cost of R&D activities involved for biomarker discovery and development, limited understanding of disease pathology, and stringent regulatory guidelines for neurological biomarker approval. Other challenges include technical difficulties in biomarker measurement procedures, lack of disease-specific biomarkers, and difficulty in recruiting suitable patients for clinical validation studies.
SWOT Analysis
Strength: Non-invasive detection of diseases at an early stage; Help in accurate diagnosis and monitoring of disease progression.
Weakness: High costs associated with biomarker development;Requirement of specialized technologies and skillsets for discovering and validating biomarkers.
Opportunity: Increasing R&D investments from industry players; Growing focus on precision medicine.
Threats: Stringent regulatory requirements; Limited understanding of disease complexity hindering biomarker discovery.
Geographical regions with high market concentration:
North America dominates the global neurological biomarkers market currently and is expected to continue its dominance during the forecast period. This is attributed to growing aged population, rising prevalence of neurological disorders, increased funding for research activities, and presence of advanced healthcare infrastructure in the region.
Fastest growing region:
Asia Pacific region is poised to witness the highest growth in the global neurological biomarkers market during the forecast period. This is owing to increasing healthcare expenditures, growing focus of international players on emerging Asian countries, rising awareness about neurological diseases, and improving research base in the region.
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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