[Research Report] The neurological biomarkers market is expected to reach US$ 14,454.7 million by 2027 from US$ 5,501.8 million in 2019. The market is estimated to grow at a CAGR of 13.0% from 2020 to 2027.
Market Insights and Analyst View:
Biomarkers are the molecules that indicate about the presence of a disease. The biomarkers of neurological diseases were not that accessible in earlier days; however, advancements in technology have enabled tracking the brain's health condition by measuring the biomarkers. This helps in the earlier detection of a disease, less invasive diagnostics and enables faster drug development and is expected to be the effective treatment. The market is driven by the factors such as rising prevalence of neurological diseases and growing focus on neurological biomarkers research. However, concerns associated with the biomarkers will likely hinder market growth during the forecast period.
Growth Drivers and Challenges:
Neurological diseases significantly burden health systems in terms of disease diagnosis, treatment, and management. Some of the major neurological disorders are epilepsy, Alzheimer’s disease, multiple sclerosis, spinal muscular atrophy (SMA), Duchenne muscular dystrophy, and others. The geriatric population is susceptible to neurological diseases. Neuropathy, Parkinson's disease, Alzheimer's disease, and dystonia are among the most common neurological disorders affecting older people. According to the National Institutes of Health (NIH), 8.5% of the world's population (i.e., around 617 million people) are 65 and above. According to the World Health Organization (WHO), neurological diseases contribute 6.3% to the global disease burden and are one of the leading causes of death worldwide. In addition, 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries are reported due to neurological diseases.
Rapid developments in healthcare and drug discovery sector are leading to the introduction of new therapeutic solutions for the treatment of neurological diseases. Authorities such as World Health Organization, National Institute of Neurological Disorders and Stroke, and National Institutes of Health are taking constructive steps to encourage research activities and find a remedy for neurological disease treatment. The National Institute of Neurological Disorders and Stroke (NINDS) biomarkers program is focused on enhancing the quality and efficiency of neurotherapeutic clinical research and supports the biomarkers validation. The program promotes rigorous biomarkers identification and validation by providing funds for the research activities. Biomarkers across Neurodegenerative Diseases (BAND) are a program that aims to stimulate research analyses on Alzheimer’s disease (AD), Parkinson’s disease (PD), and other neurodegenerative diseases. The Alzheimer’s Association, Alzheimer’s Research UK (ARUK), The Michael J. Fox Foundation for Parkinson’s Research (MJFF), and the Weston Brain Institute (Weston) funds multiple awards under this program.
Measurement errors of the biomarkers could lead to false results about the disease. There are several types of measurement errors other than laboratory errors. Improper sample collection or improper transportation of specimens affects the measurement of the sample. As biomarkers are derived from human tissues or body fluids, neuro biomarkers are associated with some degree of health risk. Biomarkers from the body fluids such as blood and urine are usually well tolerated. Cost is a major concern in biomarkers research. If the clinical trial includes thousands of subjects the cost of the biomarkers study can be very high. ‘False Positive’ and ‘False Negative’ results from the study create extra work and simply increase the overall cost of the study.
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Neurological Biomarkers Market: Strategic Insights
Market Size Value in US$ 5,501.8 Million in 2020 Market Size Value by US$ 14,454.7 Million by 2027 Growth rate CAGR of 13.0% from 2020 to 2027 Forecast Period 2020 - 2027 Base Year 2020
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Neurological Biomarkers Market: Strategic Insights
| Market Size Value in | US$ 5,501.8 Million in 2020 |
| Market Size Value by | US$ 14,454.7 Million by 2027 |
| Growth rate | CAGR of 13.0% from 2020 to 2027 |
| Forecast Period | 2020 - 2027 |
| Base Year | 2020 |
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Report Segmentation and Scope:
The “Global Neurological Biomarkers Market” is segmented based on product, application, end user, and geography. Based on product, the neurological biomarkers market is segmented into proteomics, genomics, metabolomics, imaging, and others. Based on application, the market has been segmented into Alzheimer’s disease, Parkinson's disease, schizophrenia, Huntington's disease, spinal muscular atrophy, and others. Based on end user the neurological biomarkers market was segmented into pharmaceutical and biotechnology companies, clinical diagnostics, and research organizations. The neurological biomarkers market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Based on product, is segmented into proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, others. In 2019, the genomics biomarkers segment held the largest neurological biomarkers market share, and the same segment is expected to grow at the fastest rate during the forecast period. Genomics has made substantial progress towards personalized diagnostics and therapeutics based on individual genetic variations. Genomic biomarkers have proved their use in identification of neurological diseases such as Parkinson’s disease, Alzheimer’s disease, Huntington’s disease, Autism, and others. The rising advent of personalized medicines and genetic profiling for diagnostics and therapeutic applications of neurological disorders are expected to augment the growth of the segment over the coming years.
Neurological Biomarkers Market, by Product – 2019 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The application segment is divided into Alzheimer’s disease, Parkinson's disease, schizophrenia, Huntington's disease, spinal muscular atrophy, and others. The Alzheimer’s disease segment held the highest share of the neurological biomarkers market in 2019, and the same segment is anticipated to witness growth at a significant rate during 2020 to 2027. Alzheimer’s disease refers to a progressive disorder that results in brain cells to waste away (degenerate) and eventually die. As the disease develops, the patient suffers from severe memory impairment and ability to perform everyday tasks. The medications available at the current state may temporarily improve symptoms or slow the rate of decline. The increasing incidence of the disease is expected to account for the growth of the neurological biomarkers market over the coming years. Based on end user the market is segmented into pharmaceutical and biotechnology companies, clinical diagnostics, and research organizations. In 2019, the pharmaceutical and biotechnology companies segment held the largest market share, and the same segment is also expected to grow at the fastest rate in the coming years. Thus, the above-mentioned factors are responsible for the growth of the neurological biomarkers market size.
Regional Analysis:
Based on geography, the neurological biomarkers market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. North America neurological biomarkers market has been analyzed based on three major countries — the US, Canada, and Mexico. The US neurological biomarkers market is estimated to hold the largest neurological biomarkers market share during the forecast period. The neurological biomarkers market growth in the US is attributed to the market players adopting organic and inorganic strategies for the market development. For instance, in May 2020, Quanterix Corporation, a company digitizing biomarkers analysis to advance the science of precision health, announced that it will expand its robust menu of ready-to-use Simoa kits to include tau phosphorylated at threonine 181 (p-tau181), a highly specific biomarkers for the study of Alzheimer’s disease pathology, in cerebral spinal fluid (CSF), serum and plasma. As per the Alzheimer’s Association, in 2020, an estimated 5.8 million Americans aged 65 or more are living with Alzheimer’s dementia, which is expected to reach 13.8 million by 2050. Thus, the growing prevalence of neurological diseases will likely favor the market's growth during the forecast period.
In Europe is the second leading region in the global neurological biomarkers market. Germany is holding the largest share in the Europe neurological biomarkers market during the forecast period due to the adoption of advanced technologies for diagnosis and treatment in this region. The German healthcare authorities and government is engaged in allowing the research institutes and market companies to conduct researches in the country. Such strategies are projected to accelerate the country's engagement in the development and adoption of innovative techniques recommended for the diagnosis and treatment of neurological disease. The prevalence of rare neurological diseases in the Germany is growing due to aging population and increasing number of genetic conditions. The market for neurointerventional devices in Germany is anticipated to grow at a significant pace during the forecast period. The country also has a significant mortality rate of stroke, i.e., 75,861 deaths due to stroke per year. Estimates reveal, the incidence of strokes in Germany is expected to increase by 30% by the end of 2035. In addition, the prevalence and mortality rates are expected to rise up to 19% and 40%, respectively by 2035.
Furthermore, the Asia Pacific region is expected to be the fastest-growing region among all other regions. The growth of the market in the Asia Pacific region is expected to grow at a faster pace owing to factors such as increasing need for superior diagnostic and treatment solutions, growing prevalence of neurological diseases and increasing focus on research and development activities. Additionally, developing healthcare infrastructure and increasing investments in order to boost the research activities are projected to drive the Asia Pacific neurological biomarkers market during the forecast period.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the global compounding pharmacies market are listed below:
- In April 2021, Quantrix Corp., announced a webinar with leading industry experts to discuss neurological advancements related to the ultra-sensitive quantification of pTau181, pTau217, pTau231, and other neurological biomarkers.
- In August 2020, Johnson & Johnson Services, Inc., and Enigma Biomedical Group entered into an agreement for the evaluation of novel neuroimaging biomarkers-JNJ-64413739 and JNJ-64511070-to understand Alzheimer’s disease and other dementias.
Competitive Landscape and Key Companies:
Some of the prominent players operating in the neurological biomarkers market Thermo Fisher Scientific Inc., Abbott, Myriad Genetics, Inc., Bio-Rad Laboratories, Inc., Qiagen, Banyan Biomarkers, Inc., Immunarray Pvt. Ltd., Quest Diagnostics Incorporated, PerkinElmer, Inc., and Merck Millipore among others among others are the leading companies operating in the compounding pharmacies market. These companies focus on various growth strategies such as collaboration, product launches, business expansions, agreements among others to retain its position in the global market. They have a widespread global presence, allowing them to serve a large set of customers and subsequently increase their neurological biomarkers market share.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The concerns associated with biomarkers is the significant factor that will impede the neurological biomarkers market growth.
The global neurological biomarkers market is being driven by factors such as rising prevalence of neurological diseases and growing focus on neurological biomarker research. Furthermore, increasing awareness of neurological diseases coupled with developing healthcare infrastructure is likely to offer significant opportunities for the growth of the global neurological biomarkersmarket.
Biomarkers are the molecules that indicate the presence of a disease. The biomarkers of the neurological disorders were not that accessible in earlier days. However, the advancements in the technology have enabled to track the health condition of the brain by measuring the biomarkers. This helps in the earlier detection of disease, less invasive diagnostics and allows faster drug development and is expected to be the effective treatment.
The List of Companies - Neurological Biomarkers Market
- Thermo Fisher Scientific Inc.
- Abbott
- Myriad Genetics, Inc.
- Bio-Rad Laboratories Inc.
- QIAGEN
- Banyan Biomarkers, Inc
- Immunarray Pvt. Ltd.
- Quest Diagnostics Incorporated
- Perkin Elmer, Inc.
- MERCK KGaA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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