The global neurobiomarker market size is expected to reach USD 12.9 billion by 2028, with the market growing at a CAGR of 14.2% during the forecast period

NEW YORK, November 24, 2022 /PRNewswire/ — The global market size for neurological biomarkers is expected to reach $12.9 billion by 2028, growing the market at 14.2% CAGR during the forecast period.

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The term “biomarker”, a portmanteau of “biological marker”, refers to a large subclass of medical signs or objective indicators of the state of health seen from outside the patient, which can be quantified with precision and consistency. Medical symptoms, on the other hand, are only the markers of health or disease that patients themselves can perceive. The literature contains several more detailed definitions of biomarkers, and they have a lot in common.

A biomarker is “a characteristic that is objectively measured and assessed as an indicator of normal biochemical functions, pathogenic processes, or pharmacological responses to therapeutic intervention,” as defined by the National Institutes of Health Biomarker Definitions Task Force. from 1998.

The World Health Organization (WHO), together with the United Nations and the International Labor Organization, has established the International Program on Chemical Safety, which defines a biomarker as “any substance, structure or procedure that can be assessed in the organization or its product lines and influence or predict the incidence of outcomes or disease.

A definition that goes even further considers not only the onset and course of a disease, but also its treatment, interventions, and even inadvertent environmental exposure to substances such as toxins or nutrients. Before the invention of better technology, it was difficult for researchers to monitor brain health by analyzing molecules because there were so few biomarkers for neurological diseases. This means less invasive tests, faster drug development, earlier diagnosis and hopefully more effective therapies.

COVID-19 Impact Analysis

Almost every business has been impacted by the unprecedented global public health emergency known as COVID-19, and the long-term impacts are expected to influence industry growth throughout the forecast period. According to a study conducted by Diaceutics PLC (UK) on rates of diagnosis and testing of biomarkers for various types of cancer, the number of newly diagnosed patients with metastatic non-small cell lung cancer decreased between February 2020 and March 2020. KRAS, BRAF and EGFR test rates, which are important indicators supporting the optimal choice of precision medicine drugs that benefit particular patients, were also significantly impacted by this sharp drop in just one month.

Market growth factor

Companion diagnostics become more important

In the practice of medicine, companion diagnostics and biomarkers are becoming increasingly important, which has improved disease-specific diagnosis, therapy and monitoring. It can be used to identify patients who are likely to respond well to specific treatments or medications. These diagnoses often go hand in hand with certain medications.

The growing concept of individual medicine

In personalized medicine, biomarkers are crucial because they can be used for diagnosis, prognosis and the choice of specific treatments. Personalized medicine has gained popularity over time due to the various drawbacks of conventional diagnostic and treatment methods. Many medical specialties ranging from cancer to immunological disorders are moving towards individualized care of patients based on their genetic profiles and phenotypic traits.

Market restraining factor

High start-up costs and long biomarker development cycles

Due to the variability in their performance in detecting disease, the evaluation of biomarkers is a time-consuming process. As a result, the validation procedure becomes costly and time-consuming. The process and timeline for biomarker development and validation is therefore comparable across biomarker categories, with some exceptions, as different biomarker categories frequently share common development and validation process phases.

Type Outlook

On the basis of type, the neurological biomarker market is segmented into genomics, proteomics, metabolomics, and others. The genomics segment has acquired a major revenue share in the neurological biomarker market in 2021. Increased prevalence of neurological disorders, increase in the estimated incidence of ischemic strokes, increased demand for minimal procedures, technological advancements in clinical laboratory tests and Growing public awareness of genomics and personalized biomarker-based medicines are all contributing factors to the expanding genomic biomarker market.

Application Outlook

Based on application, the neurological biomarker market is divided into Parkinson’s disease, Alzheimer’s disease, and multiple sclerosis. Alzheimer’s disease segment procured the largest revenue share in the neurological biomarker market in 2021. owing to an increase in clinical trials, drug research and development as well as an increase in the prevalence of Alzheimer’s disease. Drug development for Alzheimer’s disease (AD) relies heavily on biomarkers.

Regional outlook

Regionally, the Neurological Biomarkers market is analyzed through North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered the highest revenue share in the neurological biomarker market in 2021. Rising US studies suggest decreased age-specific risk of Alzheimer’s disease and other forms of dementia in United States and other high-income Western nations over the past 25 years.

The market research report covers the analysis of major market players. Key companies profiled in the report include F. HOFFMANN-LA ROCHE LTD., Bio-Rad Laboratories, Inc., Merck Group, PERKINELMER INC., Shimadzu corporation, Thermo Fisher Scientific, Inc., Quanterix Corporation, Neuro-Bio Ltd. , BioMérieux SA and Myriad Genetics, Inc.

Scope of the study

Market Segments Covered in the Report:

By type

• Proteomics

• Genomics

• Metabolomics

• Others

By request

• Alzheimer’s disease

• Parkinson’s disease

• Multiple sclerosis

By geography

• North America

o United States

oh Canada

oh Mexico

o Rest of North America

• Europe

oh Germany

Great Britain

oh France

oh Russia

oh Spain

oh Italy

o Rest of Europe

• Asia Pacific

oh China

oh Japan

oh India

oh South Korea

oh Singapore

oh Australia

o Rest of Asia Pacific

• BREAK

oh Brazil

oh Argentina

of the UAE

oh Saudi Arabia

oh South Africa

oh Nigeria

of the Rest of LAMEA

Profiled companies

• F. HOFFMANN-LA ROCHE LTÉE.

• Bio-Rad Laboratories, Inc.

• Merck Group

• PERKINELMER INC.

• Shimadzu Corporation

• Thermo Fisher Scientific, Inc.

• Quanterix Corporation

• Neuro-Bio Ltd.

• BioMérieux SA

• Myriad Genetics, Inc.

Unique offers

• Comprehensive coverage

• The largest number of tables and figures on the market

• Subscription-based model available

• Best Price Guaranteed

• After-sales research support provided with 10% free customization

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The global neurobiomarker market size is expected to reach USD 12.9 billion by 2028, with the market growing at a CAGR of 14.2% during the forecast period

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