The Neurological Biomarkers Market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The neurological biomarkers market size comprises biomarkers for various neurological disorders including Alzheimer's disease, Parkinson's disease, Huntington disease, schizophrenia, depression, multiple sclerosis, and others. Neurological biomarkers help in non-invasive detection, diagnosis, and assessment of neurological disorders at molecular, histological, neuroimaging, and clinical levels. These biomarkers play a crucial role in monitoring disease progression and therapeutic response.

Market key trends:
The growing demand for non-invasive detection methods for various neurological disorders is a key trend fueling the growth of the neurological biomarkers market. The traditional methods for detection and diagnosis of neurological disorders such as lumbar puncture and brain scan are invasive in nature. Neurological biomarkers offer a safer alternative by enabling diagnosis using blood and CSF samples. For instance, biomarkers such as tau and beta-amyloid proteins are widely used for non-invasive diagnosis of Alzheimer's disease. Similarly, alpha-synuclein aggregations in blood and CSF can detect Parkinson's disease. The non-invasive nature of these biomarkers has increased their adoption over invasive diagnostic methods. Thus, the demand for reliable and non-invasive biomarkers is expected to drive the growth of the neurological biomarkers market during the forecast period.

Porter’s Analysis

Threat of new entrants: The neurological biomarkers market requires high R&D investments and regulations which make entry difficult for new players.
Bargaining power of buyers: Individual buyers have low bargaining power due to specialized products however group purchasing organizations have more negotiating power.
Bargaining power of suppliers: A few large companies dominates the supply of critical diagnostic tools and technologies giving them significant influence over pricing.
Threat of new substitutes: Potential substitutes include data-driven approaches and techniques however biomarkers are still considered the gold standard.
Competitive rivalry: The market is consolidated with key players differentiating by developing specialized diagnostic tests and platforms.

SWOT Analysis

Strength: Neurological biomarkers benefit from growing understanding of disease pathogenesis and availability of sensitive detection tools. Existing diagnostic tests lack precision.
Weakness: Biomarker discovery and validation is costly and time-consuming. Clinical adoption depends on demonstrating clinical utility over years of longitudinal studies.
Opportunity: Rising disease incidence, growing demand for personalized medicine, and ability to identify disease early as well as monitor treatments create opportunities.
Threats: technical challenges in biomarker discovery, biospecimen/data quality issues, regulatory hurdles and reimbursement challenges threaten commercialization.

Key Takeaways

The global neurological biomarkers market is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing prevalence of neurodegenerative diseases. North America dominates the market currently due to supportive regulatory environment and presence of key market players in the region.

Regional analysis: North America is anticipated to dominate the neurological biomarkers sector during the forecast period. Factors such as high prevalence of neurologic disorders, increasing geriatric population, strong government funding for R&D, and presence of dominant market players in the region are responsible for its large share.

Key players analysis: Key players operating in the neurological biomarkers market are 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.

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