Neurological Biomarkers Market Driver, Restraint, Challenges and Opportunities Study

Neurological Biomarkers Industry Overview

The global neurological biomarkers market size is expected to reach USD 16.14 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 12.9% from 2020 to 2028. 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. For instance, the University of North Texas Health Science Center (HSC) was awarded around USD 45.5 million funds from the National Institutes of Health (NIH) to support research regarding health disparities in Alzheimer’s and brain aging. NIH is offering additional funds for biomarkers research for the ongoing Health and Aging Brain Among Latino Elders (HABLE) study.

Neurological Biomarkers Market Segmentation

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

Based on the Type Insights, the market is segmented into Genomic, Proteomic, Metabolomic, Imaging, and Others

• The proteomic segment accounted for the highest revenue share of over 32% in 2020. Genomic biomarkers accounted for the second-largest market share in 2020.
• 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.

Based on the Applications Insights, the market is segmented into Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Autism Spectrum Disorder, and Others

• The Alzheimer’s disease application segment accounted for the largest market share of over 34% in 2020 and is expected to remain dominant during the forecast period.
• The Parkinson’s disease application segment is expected to grow at a CAGR of 13.2% during the forecast period owing to the growing prevalence of the disease and an increasing number of clinical trials for the disease drugs.

Based on the End-use Insights, the market is segmented into Hospital & Hospital Laboratories, Independent Clinical Diagnostic Centers, and Research Organizations & Others

• 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.
• The research organizations & others segment is expected to grow at the fastest CAGR of more than 13% over the forecast years owing to the increased adoption of biomarkers by pharmaceutical companies and Ambulatory Surgery Centers (ASCs) for drug discovery & development.

Neurological Biomarkers Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Companies are adopting strategies that allow them to use their resources to aid in the development of new products and enhance their supply chain.

Some prominent players in the global Neurological Biomarkers market include:

• 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
• Quanterix

Order a free sample PDF of the Neurological Biomarkers Market Intelligence Study, published by Grand View Research.