Neurological Biomarkers Market Foreseen to Grow Exponentially Over 2018-2025
The major companies profiled in this report include Abbott Laboratories, Myriad RBM, Proteome Sciences, Thermo Fisher Scientific, Athena Diagnostics, Immunarray Pvt. Ltd.,
Quanterix Corporation, Diagenic ASA, Psynova Neurotech, and Bio-Rad Laboratories. Other prominent players in the value chain include Qiagen, AbaStar MDx, Acumen Pharmaceuticals, Abiant, Alseres Pharmaceuticals, Athena Diagnostics, Banyan Biomarkers, and ProteoSys AG.
Increase in demand for noninvasive neurological biomarkers is expected to supplement the market growth. Furthermore, rise in number of research activities focused towards developing efficient biomarkers that can aid in early diagnosis of Alzheimer‐™s and Parkinson‐™s diseases is expected to drive the market growth in the near future. For instance, MSDx, Inc. is developing cost-effective and reliable blood-based neurological biomarkers that can aid in detecting the onset of disease before excessive damage occurs. The company has patented the blood test and has named it as the ‐Window into The Brain
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The neurological biomarkers market for Alzheimers disease generated a revenue of $2,636.7 million in 2017, and is expected to reach $6,122.5 million by 2025, registering a CAGR of 11.1% from 2018 to 2025. Conversely, neurological biomarkers market for Parkinsons disease generated a revenue of $1,321.8 million in 2017, and is expected to reach $2,457.4 million by 2025 registering a CAGR of 8.0%.
Upsurge in the incidence of Alzheimers and Parkinsons diseases is anticipated to contribute to the robust growth of neurological biomarkers. In addition, increase in adoption of neurological biomarkers in drug development and validation has been witnessed over the years to improve the accuracy of clinical trials. Furthermore, rise in preference towards personalized medicine is expected to offer profitable opportunities for the expansion of neurological biomarkers applied across Alzheimers and Parkinsons.
Based on the region, the neurological biomarkers market for Alzheimers and Parkinsons diseases is studied across the U.S., EU5, rest of Europe, China, Asia-Pacific, and rest of the world (ROW). The U.S. dominated the market for Alzheimers and Parkinsons in 2017, and is expected to continue this trend throughout the forecast period. In addition, Asia-Pacific is anticipated to grow at the fastest pace in Alzheimers neurological biomarkers market during the forecast period, whereas China is expected to register highest growth rate from 2018 to 2025 in the Parkinsons neurological biomarkers market.
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