Neurological Biomarkers Market is Expected to be Flourished by Rising Incidence of Neurological Diseases

Neurological biomarkers are measurable indicators of any biological states or conditions relating to the nervous system and brain. These include proteins, genes, metabolite or other substances whose detection indicates normal or pathologic processes in the nervous system. Some common biomarkers include Tau and beta-amyloid proteins, which are markers of Alzheimer’s disease. Biomarkers can be used for various purposes including aiding in diagnosis, predicting risk of developing a disease, measuring disease progression, and determining treatment response to new therapies. The applications of neurological biomarkers include diagnosis of brain injuries, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other neurological disorders.

The global neurological biomarkers market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising Incidence of Neurological Diseases: As mentioned in the heading, neurological biomarkers are expected to be flourished by rising incidence of neurological diseases globally. As per the latest statistics by Alzheimer’s Association, more than 6 million Americans of all ages are living with Alzheimer’s dementia in 2022 and this number is expected to rise nearly 13.8 million by 2050. Similarly, according to Parkinson’s Foundation, nearly 1 million Americans are living with Parkinson’s disease and every year around 60,000 new cases of the disease are reported in the country. With increasing prevalence of such diseases, need for early diagnosis and treatment monitoring is growing which is fueling demand for neurological biomarkers.

Advancements in Biomarker Discovery: Technological advancements in omics fields such as genomics, proteomics, and metabolomics have created opportunities for discovering new biomarkers. Companies are increasingly investing in neurological biomarker discovery through multi-omics approaches. This is enabling identification of novel biomarkers from blood, cerebrospinal fluid, other tissues for various neurological conditions. Availability of novel biomarkers will support accurate diagnosis and prognosis, thereby driving market growth over the forecast period.

Segment Analysis
The Neurological Biomarkers Market Share is dominated by protein biomarkers segment which holds around 65% of the total market share. Protein biomarkers are widely used for diagnosis of neurological disorders due to their high specificity and accuracy. Biomarker proteins play an important role in various mechanisms associated with diseases progression. For instance, Alzheimer’s disease biomarkers such as amyloid beta and tau protein are commonly used to detect pathology and progression of the disease at an early stage.

PEST Analysis
Political: Governments across major countries are supporting research and development activities for neurological biomarkers through favorable initiatives and funding. For example, Alzheimer’s Association is distributing funds for biomarkers research under Alzheimer’s Disease Neuroimaging Initiative.
Economic: Rising incidences of neurological disorders along with growing geriatric population globally is the key factor driving the market growth. As per WHO, neurological disorders burden will rise by over 40% in the coming decades. This presents significant treatment cost for healthcare systems.
Social: Increasing awareness about early diagnosis and availability of biomarkers tests for diseases like Alzheimer’s is encouraging adoption. Biomarkers help physicians to accurately diagnose, assess risk, and monitor treatment response.
Technological: Advancements in omics technologies such as proteomics, genomics and metabolomics have enabled discovery and validation of novel biomarker candidates. Non-invasive neuroimaging and liquid biopsy techniques are expanding applicability of biomarkers.

Key Takeaways
The global neurological biomarkers market is expected to witness high growth at a CAGR of 5.3% during the forecast period of 2023 to 2030. The global neurological biomarkers market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.

North America is currently the largest as well as the fastest growing regional market due to supportive reimbursement policies and easy availability of advanced healthcare services. As per 2020 stats, over 5 million Americans are suffering from Alzheimer’s disease indicating huge future market potential in the region. Asia Pacific is also projected to offer significant growth opportunities during the forecast period with increasing healthcare investments in countries like China and India.

Key players analysis
Key players operating in the neurological biomarkers market are ABB, EDF, Enel SPA (Enel), General Electric (GE), The Tata Power Company Limited, Mitsubishi Hitachi Power Systems Inc., Toshiba Corporation, Korea Electric Power Corporation, Siemens AG, and Yokogawa Electric Corporation. These leading players are focusing on new product launches, collaborations and geographic expansions to increase their market share. For instance, in 2022 Abbott received FDA approval for its new Alzheimers disease blood test – PrecivityAD test which measures p-tau217 protein.

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