March 2, 2024
Neurological Biomarkers Market

The Global Neurological Biomarkers Market Is Driven By Rising Prevalence Of Neurological Disorders

Neurological biomarkers are molecules found in biological fluids like blood, urine, and cerebral spinal fluid that are indicative of normal or abnormal biological processes or a pathogenic process in the nervous system. Neurological biomarkers find wide application in drug discovery, diagnostics, disease monitoring, and personalized treatment. The increasing incidences of neurological disorders like Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, and others have accelerated the demand for biomarkers to diagnose these conditions accurately and monitor disease progression and treatment response. The global neurological biomarkers market offers immense opportunities for early detection, diagnosis, and intervention in neurological diseases.

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 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising R&D investments by biotechnology and pharmaceutical companies for developing novel neurological biomarkers is a key trend fueling the market growth. Major investments are focused on the discovery of biomarkers for complex neurological conditions like Alzheimer’s, autism, depression, and others having no definitive diagnostic biomarkers currently. Additionally, expanding applications of neurological biomarkers in clinical drug development as surrogate endpoints for evaluating target engagement and efficacy is expected to augment the market during the forecast period. Technological advancements in biomarker detection techniques like proteomics, genomics, metabolomics are enabling the identification of novel biomarkers from biological samples which was not possible few years ago. This is anticipated to create lucrative opportunities for key players in the neurological biomarkers market.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as extensive R&D is required to identify novel biomarkers and bring them to clinical use. Significant investments are also needed to build diagnostic capabilities.
Bargaining power of buyers: The bargaining power of buyers is moderate as customized diagnostic tests are required for individual patients. However, the presence of several market players provides options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials like biomolecules and equipment are readily available. Suppliers have limited control over pricing.
Threat of new substitutes: The threat of new substitutes is high as research is ongoing to identify novel biomarkers with better diagnostic accuracy. New techniques like omics technologies also pose a threat.
Competitive rivalry: The competitive rivalry is high among existing players due to their global presence and expansion into newer diagnostic domains.

Key Takeaways

The Global Neurological Biomarkers Market Demand is expected to witness high growth over 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 5.9% over the forecast period 2023 to 2030.

Regional analysis: North America accounted for the largest share of the global market in 2024 due to rapid adoption of advanced diagnostic methods and strong government support for R&D activities. However, Asia Pacific is expected to witness the fastest growth during the forecast period supported by rising healthcare investments, increasing awareness and improving diagnostic infrastructures in densely populated countries like China and India.

Key players: Key players operating in the Neurological Biomarkers market are Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd. They are focusing on expanding their product portfolio through collaborations and strengthening their regional presence through strategic acquisitions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it