The neurological biomarkers market is valued at $5.4 billion in 2021 and is estimated to reach $18.9 billion by 2031, growing at a CAGR of 13.6% from 2022 to 2031 . Solid growth of neurological biomarkers between these two applications. Moreover, the adoption of neurological biomarkers in drug development and validation has surged in recent years to improve the accuracy of clinical trials. Furthermore, the increasing shift to personalized medicine is expected to provide beneficial opportunities for the expansion of neurological biomarkers applied across Alzheimer’s and Parkinson’s diseases.
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However, strict government regulations hinder the sale of neurological biomarker products. Emerging ethical issues regarding early diagnosis of Alzheimer’s disease, Parkinson’s disease and multiple sclerosis are expected to hamper the market growth. On the contrary, a surge in public and private sector investment in healthcare, an increasing focus on developing cost-effective biomarker tests, an increasing number of patients, and an increasing demand for non-invasive diagnostic techniques for Alzheimer’s and Parkinson’s diseases. Road to Enlargement of Neurological Biomarkers Market Size During the New Forecast Period.
Depending on the product type, the genomic segment is expected to witness a significant CAGR during the forecast period of the neurological biomarkers market analysis. Major factors contributing to the growth of the genomic biomarker market include: increasing prevalence of neurological diseases, rising incidence of ischemic stroke, high demand for minimally invasive surgery, technological development in clinical laboratory, data infrastructure includes the huge development of Sharing and analysis such as bioinformatics, and growing awareness of genomics biomarker-based personalized medicine. Increasing development of personalized medicine based on an individual’s specific gene sequence is projected to help drive the growth of the genomic biomarker segment in the neurological biomarkers market.
Based on region, Asia-Pacific will witness the highest CAGR during the forecast period for neurological biomarker market forecast, owing to increasing geriatric population and various product launches in the region to meet rising demand. It is expected that Furthermore, the development of human induced pluripotent stem cells (iPS) for early diagnosis of Parkinson’s disease is a recent trend and is being followed in Japan. Furthermore, Japan’s population is on the rise, reaching 126.26 million as of 2019. Such an increase in the population susceptible to Parkinson’s disease is therefore expected to help supplement the growth of the neurological biomarker industry.
By product type, the proteomics segment accounted for the largest share of the neurological biomarkers market share in 2021.
By application, the Alzheimer’s disease segment accounted for the largest share of the neurological biomarker market trends in 2021 and is expected to remain dominant during the forecast period.
By region, North America held the largest market share in the neurological biomarkers industry in 2021.
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