Neurological Biomarkers Market To Reach $18.75 Billion By 2030

Neurological Biomarkers Market Growth & Trends

The global neurological biomarkers market size is expected to reach USD 18.75 billion by 2030, expanding at a CAGR of 12.89% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increased funding for R&D of neurological biomarkers to boost development of new drugs is expected to impel market growth. National Institute of Neurological Disorders and Stroke provides funding opportunities such as cooperative agreements & development grants for researchers conducting studies related to clinical validation, analytical validation, & biomarker discovery.

Biomarkers play a significant role in the development of drugs for the treatment of neurological diseases. In recent years, there has been a significant rise in investments in the R&D of treatments for neurological diseases. For instance, in December 2020, Target ALS-a nonprofit research foundation-announced research funding of USD 15 million for a project focused on the discovery of novel biomarkers for ALS, which is anticipated to accelerate market growth in the forecast period.

Availability of technologically advanced products such as Quanterix Simoa (single-molecule array), which is a digitized ELISA test with a high signal-to-noise ratio. This technology helps overcome blood-brain barrier issues associated with neurological disease-related biomarkers. Such technological advancements are expected to drive market growth. For instance, in January 2021, Abbott introduced the first rapid blood test for traumatic brain injury, including concussion. This test measures a particular protein that is found in the blood after a traumatic brain injury and can be used to rule out the need for CT scanning in case of negative test results.

Factors such as lack of awareness about such diagnostic products & their high cost and limited availability or absence of neurologists, especially in developing & underdeveloped countries, could affect the adoption of such biomarker-based diagnostic solutions. According to a World Federation of Neurology survey of 63/84 WHO member countries, the majority of neurologists in 31/63 countries worked in major cities. One neurologist was serving a population of about 6,240 to 4,750,000.

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Neurological Biomarkers Market Report Highlights

• In 2023, proteomic type accounted for the largest market share and is anticipated to maintain their dominance over the forecast period as these are essential for accurate diagnosis of disease onset and progression due to the careful detection of posttranslational modifications and protein signatures

• Parkinson’s disease segment held the largest market share owing to rising incidence and increasing R&D activities.

• Based on end use, the research organizations and others segment dominated the neurological biomarkers market. Research organizations collaborating for the development of therapeutics for treating neurological disorders utilize biomarkers for assessing the drug tolerance.

• North America dominated the market owing to presence of market players with strong presence in the U.S. & Canada, and increasing government funding for the development of novel biomarkers

• Asia-Pacific is anticipated to witness significant growth over the forecast period owing to high adoption of technologically advanced diagnostic products in developed countries such as Japan & Australia and increasing adoption of these products in developing economies such as China and India.

Neurological Biomarkers Market Segmentation

Grand View Research has segmented the global neurological biomarkers market based on type, application, end-use, and region:

Neurological Biomarkers Type Outlook (Revenue, USD Million, 2018 - 2030)

• Genomic

• Proteomic

• Metabolomic

• Imaging

• Others

Neurological Biomarkers Application Outlook (Revenue, USD Million, 2018 - 2030)

• Alzheimer's Disease

• Parkinson's Disease

• Multiple Sclerosis

• Autism Spectrum Disorder

• Others

Neurological Biomarkers End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital & Hospital Laboratories

• Independent clinical diagnostic centers

• Research Organizations and Others

Neurological Biomarkers Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • India

  • China

  • Japan

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Argentina

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

  • Kuwait

List of Key Players in Neurological Biomarkers Market

• Abbott

• Thermo Fisher Scientific, Inc.

• Merck & Co., Inc.

• Bio-Rad Laboratories, Inc.

• Johnson & Johnson Services, Inc.

• DiaGenic ASA

• Banyan Biomarkers, Inc.

• Quanterix

• Alseres Pharmaceuticals, Inc.

• Rules-Based Medicine