The global Neurological Biomarkers market size is expected to be worth around US$ 26.14 billion by 2030, according to a new report by Vision Research Reports.
The global Neurological Biomarkers market size was valued at US$ 10.1 billion in 2020 and is anticipated to grow at a CAGR of 20.9% during forecast period 2021 to 2030.
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|Market Size||USD 26.14 billion by 2030|
|Growth Rate||CAGR of 20.9% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Application, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Abbott; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Merck & Co., Inc.; Johnson & Johnson Services, Inc.; BANYAN BIOMARKERS, INC.; Myriad Genetics, Inc.; DiaGenic ASA; and Quanterix|
Increasing funding for the R&D of neurological biomarkers to boost the development of new drugs is expected to accelerate market growth. Moreover, the introduction of novel innovative products for the diagnosis of neurological biomarkers is expected to propel market growth over the forecast period.
The National Institute of Neurological Disorders and Stroke provides funding, such as development grants & cooperative agreements for researchers conducting studies related to biomarker discovery, analytical validation, & clinical validation. Thus, the presence of organizations offering funds at various stages of research is anticipated to drive market growth.
The proteomic segment accounted for the highest revenue share of over 42% in 2020. Genomic biomarkers accounted for the second-largest market share in 2020. Genomic biomarkers present promising opportunities for the development of personalized medicines and diagnostics based on an individual’s specific genetic variations & predisposition to the disease. The others segment is anticipated to witness significant CAGR over the forecast period due to the increasing adoption of digital biomarkers in clinical trials patient selection for neurological drugs.
The Alzheimer’s disease application segment accounted for the largest market share of over 44% in 2020 and is expected to remain dominant during the forecast period. This growth is credited to the high disease burden and availability of products for clinical use, such as imaging biomarkers-amyloid PET tracers for diagnosis. Furthermore, the government and non-profit organizations are providing a plethora of research opportunities that may fuel market growth.
The Parkinson’s disease application segment is expected to grow at a CAGR of 23.2% during the forecast period owing to the growing prevalence of the disease and an increasing number of clinical trials for the disease drugs. The hospital & hospital laboratories segment accounted for the largest market share of over 38% in 2020. The segment is expected to remain dominant even during the forecast period due to a rise in hospitalization. Furthermore, the ongoing development of healthcare infrastructure is anticipated to enhance the existing hospital facilities. Most of the blood-based biomarker assays are purchased by hospitals and are used in significant volumes.
North America accounted for the highest market share of over 51.07% in 2020 and is expected to witness a significant growth rate over the forecast period. The significantly high disease burden, acceptance of biomarkers for diagnostic, drug development & prognostic purposes, and increase in research funding are some key factors contributing to the dominance of the region.
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Merck & Co., Inc.
- Johnson & Johnson Services, Inc.
- Banyan Biomarkers, Inc.
- Myriad Genetics, Inc.
- DiaGenic ASA
- Alzheimer’s Disease
- Parkinson’s Disease
- Multiple Sclerosis
- Autism Spectrum Disorder
- Hospital & Hospital Laboratories
- Independent Clinical Diagnostic Centers
- Research Organizations and Others
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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