Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Neurological biomarkers are detectable substances majorly found in the cerebrospinal (CSF) fluid when there has been some damage to the brain. These biomarkers help in early diagnosis of neurological disorders, drug development, and for developing personalized medicine. However, the growing research and discovery in the field of neurology has enabled the introduction of novel methods for detection and better treatment of neurological disorders such as Alzheimer’s, Schizophrenia, Parkinson’s disease, and others. For instance, according to an article in Science Journal published by the American Association for the Advancement of Science in December 2017, researchers at the University Of Arizona College Of Medicine, Tucson, used neurological biomarkers to study the immunological response of the body to the dead brain tissue after stroke. The process of removal of dead brain tissue by the immune system is known as liquefactive necrosis. Neurological biomarkers play a crucial role in monitoring the progress of liquefactive necrosis to prevent neurotoxicity.
Global Neurological Biomarkers Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020.
According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 177,866,160 cases and 3,857,974 deaths due to coronavirus disease (COVID-19) were reported till June 20, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Neurological Biomarkers
The COVID-19 pandemic and the lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. Biotechnology industry is one such sector which has been majorly impacted by the pandemic.
The COVID-19 pandemic has impacted the entire supply chain of the biotechnology industry mainly due to strict lockdown in several regions. However, the demand for neurological biomarkers is expected to increase during the pandemic due to association of neurological conditions with COVID-19 infection.
According to an article published by Alzheimer's Research & Therapy journal in June 2021, a study by Cleveland Clinic, revealed a close relationship between coronavirus genes and neurological disorder such as Alzheimer’s disease. The study showed that SARS-CoV-2 infection led to several pathways related to neuroinflammation and brain microvascular injury, which may lead to cognitive impairment as well. Thus, impact of the coronavirus (COVID-19) pandemic is expected to fuel the growth of the global neurological biomarkers market during the forecast period, owing to rising neurological disorders as a result of COVID-19 infection during the pandemic.
The global neurological biomarkers market is estimated to be valued at US$ 8,979.6 Mn in 2021, and is expected to exhibit a CAGR of 14.7% over the forecast period (2021-2028).
Neurological Biomarkers Market Report Coverage
||Market Size in 2021:
||US$ 8,979.6 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 23,453.2 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Biomarker Type: Artificial tears, Imaging biomarkers, Metabolomics Biomarkers, Proteomic Biomarkers, Genomics Biomarkers
- By Application: Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Autism Spectrum Disorders, Others
- By End User: Hospital Laboratories, Clinical Diagnostic Centers, Research Organizations, Others
Abbott Laboratories, QIAGEN N.V., Myriad RBM, Thermo Fisher Scientific Inc., Athena Diagnostics, Bio-Rad Laboratories, Inc., AbaStar MDx, Inc., Acumen Pharmaceuticals, Banyan Biomarkers, Inc., Alseres Pharmaceuticals, Inc., Proteome Sciences, Immunarray Pvt. Ltd., Quanterix Corporation, Diagenic ASA, and Psynova Neurotech
- Increasing prevalence of neurological disorders
- Increasing Research and Development Activities by the Market Players
- Increasing Product Launches and Approvals
|Restraints & Challenges:
- Lack of specificity of some neurological biomarkers
- Inconsistent results related to use of some neurological biomarkers
Figure 1: Global Neurological Biomarkers Market Share (%) Analysis, By Biomarker Type, 2021
The rising cases of neurological and psychiatric disorders is the major factor that is expected to drive the neurological biomarkers market growth over the forecast period.
The rising number of neurological and psychiatric disorders cases is expected to drive growth of neurological biomarkers market over the forecast period. According to Alzheimer's Disease Facts and Figures Report, in 2019, more than 5.8 million people in America were suffering from dementia associated with Alzheimer’s disease, out of which most of the patients were above the age of 75 years.
Moreover, increasing number of research and development activities for improving the effectiveness of neurological biomarkers is expected to aid in the growth of the market over the forecast period. For instance, an observational research study was initiated by Massachusetts General Hospital, U.S., in 2018, and is expected to be completed by August 2022. This study aims to investigate neuroimaging biomarkers, which are linked to the prognosis of Functional Neurological Disorder (FND).
In addition, rising product launch and approval is expected to show exponential growth of neurological biomarkers over the forecast period. For instance, in 2017, Quanterix Corp., an American diagnostic tool company, launched its product Simoa N4PA assay, which can detect up to four neurological biomarkers- NF-L, Tau, GFAP, and UCH-L1. Moreover, in 2018, Abcam Plc., a global life sciences company that supplies protein research tools, launched its product FirePlex HT Immunoassay for rapid detection of neurological biomarkers.
Global Neurological Biomarkers Market – Restraints
However, growth of the neurological biomarkers market may be hampered, owing to lack of specificity and reliability of some neurological biomarkers. According to a study published in Future Medicine Journal in 2019, CSF DJ-1 that is used as a neurological biomarker for Parkinson’s disease, showed inconsistent results and lack of specificity.
Global Neurological Biomarkers Market – Regional Analysis
On the basis of region, the global neurological biomarkers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global neurological biomarkers market over the forecast period, owing to rising government initiatives for management of neurological disorders. This is expected to drive the growth of the global neurological biomarkers market over the forecast period. For instance, the global action plan on the public health response to dementia 2017-2025 was endorsed by the World Health Assembly (WHA) in 2017 to set up a framework for increasing awareness about dementia, support the research and innovation in neuroscience, and making treatments for dementia more accessible.
Moreover the rising focus of market players in business strategies such as acquisitions, partnerships, and others are expected to fuel the growth of neurological biomarkers market over the forecast period. For instance, in 2017, Abbott laboratories, an American medical device company, acquired Alere Inc., an American diagnostic kit manufacturer, to expand its diagnostic kits business portfolio. Such acquisitions would create opportunities for neurological biomarkers as these diagnostic kits are majorly based on biomarker analysis.
Figure 2: Global Neurological Biomarkers Market Value (US$ 8,979.6 Mn), by Region, 2021
Global Neurological Biomarkers Market – Competitive Landscape
Major players operating in the global neurological biomarkers market include Abbott Laboratories, QIAGEN N.V., Myriad RBM, Thermo Fisher Scientific Inc., Athena Diagnostics, Bio-Rad Laboratories, Inc., AbaStar MDx, Inc., Acumen Pharmaceuticals, Banyan Biomakers, Inc., Alseres Pharmaceuticals, Inc., Proteome Sciences, Immunarray Pvt. Ltd., Quanterix Corporation, Diagenic ASA, and Psynova Neurotech