Coherent Market Insights

Neurological Biomarkers Market to Surpass US$ 20.10 Bn by 2031

Neurological Biomarkers Market to Surpass US$ 20.10 Bn by 2031 - Coherent Market Insights

Publish In: Jun 12, 2024

Neurological biomarkers market is estimated to witness high growth owing to increasing incidences of neurological disorders and rising R&D investments

Neurological biomarkers market is estimated to be valued at USD 8.51 Bn in 2024, exhibiting a CAGR of 13.1% over the forecast period 2024-2031. Technological advancements in biomarker development can drive the market growth.

Market Dynamics:

Increasing incidences of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, and others have boosted demand for neurological biomarkers for early diagnosis and treatment. It is estimated that around 50 million people globally are affected by Alzheimer's disease. With growing geriatric population, there has been increase in cases of neurological disorders, thus, boosting need for effective diagnosis through biomarkers. Rising R&D investments by pharmaceutical companies and research institutes for development of novel biomarkers can drive the market growth. Significant funds are granted for biomarker research to develop objective tools for accurate diagnosis, drug development and monitoring treatment response. This has prompted many biomarker companies to enter the market with innovative offerings.

Major Driver:

Increasing prevalence of neurological disorders

Rising prevalence of neurological disorders such as Alzheimer's disease, Parkinson's disease, multiple sclerosis, and other dementia can drive the global neurological biomarkers market growth. According to the Alzheimer's Association, an estimated 6.2 million Americans of all ages lived with Alzheimer's dementia in 2021. This number is projected to rise to around 13 million by 2050. Parkinson's disease affects over 10 million people worldwide, according to Parkinson's Foundation. With limited treatment options available, diagnosis of these disorders is crucial, and this boosts demand for reliable and accurate biomarkers. Neurological biomarkers help in early and accurate diagnosis which can allow doctors to start treatment sooner and monitor the effectiveness of therapies.

Advancements in biofluid analysis and brain imaging techniques

Continuous technological advancements in biofluid analysis techniques such as proteomics, metabolomics, and cerebrospinal fluid analysis as well as improvements in brain imaging methods including MRI, CT and PET scans have enabled discovery and validation of novel biomarkers. Biofluid analysis provides less invasive method for biomarker detection. Brain imaging techniques allow visualization of brain pathology progression. Integration of imaging and fluid biomarkers has enhanced detection of neurological changes associated with disorders. This has expanded clinical applications of biomarkers and is driving the market growth.

Lack of biomarker validation and standardization

One of the factors hampering the neurological biomarkers market is lack of validation and standardization of the discovered biomarkers. Currently, there is no validated and standardized biomarkers available for majority of neurological conditions. Biomarkers need to pass extensive validation studies to prove their reliability and reproducibility. The standard procedures and assay methods are required for consistent measurement of biomarker levels. This variability and lack of validation pose challenges to clinical adoption of biomarkers. Biomarker discovery is an expensive process and requires huge investments which deters many companies.

Reimbursement issues

Unavailability of insurance coverage and medical reimbursement for biomarker tests acts as a financial restraint especially in developing nations. Biomarker tests carry a high price tag which most patients cannot afford to pay out-of-pocket. Unless reimbursement policies are formed, hospitals and healthcare facilities will be reluctant to adopt expensive biomarker tests. Reimbursement developments are needed to make these important diagnostic tools accessible to patients worldwide.

Biomarker-based drug development and clinical trial applications

Neurological biomarker market is witnessing lucrative opportunities in drug development and clinical trials sector. Biomarkers can facilitate drug discovery process by aiding target identification and validation. During clinical development, biomarkers help establish proof-of-concept, optimize dosing regimens and evaluate target engagement and response prediction. Biomarkers are also used in clinical trials for patient selection, trial enrichment and monitoring treatment responses objectively. Pharmaceutical companies are increasingly incorporating qualified biomarker endpoints in clinical trials to accelerate trials. This expands the scope of biomarkers.

Personalized medicine approach

Advancement in personalized medicine approaches tailored to individual patient's condition, severity and phenotype offers tremendous opportunities for the market growth. With further validation and standardization, biomarkers can enable personalized diagnosis, prognosis and selection of optimal therapies. Combining biomarkers with clinical and genetic information can help characterize disease subtypes for personalized treatment planning. This shift towards precision medicine will foster higher adoption of biomarkers.

Link: https://www.coherentmarketinsights.com/market-insight/neurological-biomarkers-market-4586

Key Developments

  • In October 2023, C2N Diagnostics, a molecular diagnostic company, introduced an advanced fluid biomarker targeting neurofibrillary "Tau" tangle pathology in Alzheimer's Disease, offering researchers a crucial tool for monitoring disease progression by detecting Tau protein abnormalities. This breakthrough test marks significant progress in understanding and tracking Alzheimer's disease.
  • In July 2023, Quanterix Corporation, a life sciences company, launched LucentAD, a blood test utilizing biomarkers to aid in diagnosing Alzheimer’s disease in individuals
  • In November 2021, Eisai Co. Ltd, a Japan-based pharmaceutical company, and Biogen Inc., a global biotechnology company, announced plans to present findings on the examination of plasma-based biomarkers in the Phase 3 AHEAD 3-45 trial of lecanemab (BAN2401), an experimental anti-amyloid beta (Aβ) protofibril antibody for Alzheimer's disease
  • In October 2021, Diadem, a web hosting service provider, announced the release of clinical data demonstrating that its AlzoSure biomarker test can forecast the advancement of Alzheimer's disease several years before symptoms manifest

Key Players: Thermo Fisher Scientific Inc., Merck & Co., Inc., Bio-Rad Laboratories, Inc., AbbVie Inc., QIAGEN N.V.,F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Myriad RBM, Quanterix Corporation, PerkinElmer Inc., Fujirebio, Alzheon, Inc., Diagenic ASA, Psynova Neurotech Ltd, Banyan Biomarkers, Inc., Cisbio Bioassays, Athena Diagnostics, Immuno-Biological Laboratories Co., Ltd.

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