Neurological Biomarkers Global Market Like to Reach $17.18 million By 2028 at a CAGR of 12.7% | Pfizer Inc., Novartis AG, Grifols S.A., Eisai Co. Ltd., PerkinElmer Inc.

The neurological biomarkers market size has grown rapidly in recent years. It will grow from $9.46 billion in 2023 to $10.63 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to increasing prevalence of neurological disorders, aging population, drug development needs, increased funding for neurological research, personalized medicine.

The neurological biomarkers market size is expected to see rapid growth in the next few years. It will grow to $17.18 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to biomarkers for early detection, biosensors, wearable devices, global health initiatives, patient-centric approach. Major trends in the forecast period include technological innovation in imaging, rapid advances in omics technologies, integration of artificial intelligence (ai), real-world evidence in biomarker validation, advancements in diagnostic technologies, collaboration between industry and research institutions.

Market Overview -
A neurological biomarker is a substance that provides objective and quantifiable information about the presence, progression, or characteristics of a neurological disorder or condition. They are used in clinical practice during drug development.

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Rising Prevalence Of Neurological Diseases Fuels Momentum In Neurological Biomarker Market
The increasing prevalence of neurological diseases is expected to propel the growth of the neurological biomarker market going forward. Neurological illnesses affect the brain, spinal cord, and all of the body's other nerves. Parkinson's disease is a neurodegenerative disorder affecting the neurological system and the areas of the body that are under the control of the nerves. Neurological biomarkers help provide an early diagnosis of Parkinson's disease using pathological, biochemical, and genetic testing. For instance, in December 2022, according to the Parkinson's Foundation, a US-based non-profit organization, the number of new diagnoses of Parkinson's disease reached 90,000 in 2022, up from 60,000 per year in 2021. Therefore, the increasing prevalence of neurological diseases is driving the growth of the neurological biomarker market.

Competitive Landscape -
Major companies operating in the neurological biomarkers market report are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Novartis AG, Thermos Fisher Scientific Inc., AstraZeneca Plc, Abbott Laboratories, Boehringer Ingelheim International GmbH, Becton Dickinson and Company, Agilent Technologies Inc., Grifols S.A., Eisai Co. Ltd., PerkinElmer Inc., Illumina Inc., Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Mallinckrodt Plc, Qiagen N.V., Luminex Corporation, Siemens Healthineers, Olink Proteomics, Meso Scale Diagnostics, Quanterix Corp., Fujirebio, Cisbio Bioassays SAS, NeuroVision Imaging, Proteome Sciences Plc, Acumen Pharmaceuticals.

Strategic Collaborations Drive Innovation In Neurological Biomarkers Market
Major companies operating in the neurological biomarkers market are forming partnerships to develop new products and strengthen their positions in the market. Collaborations and partnerships in the neurological biomarkers market foster innovation, leverage complementary expertise, and accelerate the development and commercialization of advanced therapies by combining resources and capabilities. For instance, in July 2022, NeuroSense Therapeutics Ltd., an Israel-based company developing treatments for severe neurodegenerative diseases partnered with NeuraLight, an Israel-based company developing objective and sensitive biomarkers for neurological disorders. This collaboration is to identify oculometric indicators for Amyotrophic Lateral Sclerosis (ALS) through the application of AI (Artificial Intelligence) and ML (Machine Learning). The partnership, which comes after NeuraLight's $25 million Series A financing, is to enhance the discovery and application of ALS digital indicators in a parallel study. This will be the collaboration's first clinical trial. The partnership is centered on the application of oculometric digital indicators, which may allow for patient classification and boost clinical trial success rates.

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Key Segments -
The neurological biomarkers market covered in this report is segmented -
1) By Product: Proteomics Biomarker, Genomics Biomarker, Metabolomics Biomarker, Imaging Biomarker, Other Products
2) By Application: Alzheimer's Disease, Parkinson's Disease, Huntington's Disease, Schizophrenia, Depression, Multiple Sclerosis, Spinal Muscular Atrophy
3) By End-User: Hospital Laboratories, Clinical Diagnostic Centers, Research Organizations, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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