Neurological biomarkers play an important role in diagnosing neurological disorders and diseases such as Alzheimer’s disease, Parkinson’s disease, traumatic brain injury, and multiple sclerosis among others. They help detect neurological disorders at an early stage and monitor treatment response. With increasing cases of neurological disorders worldwide due to lifestyle changes and growing geriatric population, the demand for neurological biomarkers is growing substantially.

The global neurological biomarkers market is estimated to be valued at US$ 11813.64 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing incidence of neurological disorders is one of the major drivers of the neurological biomarkers market. According to the World Health Organization (WHO) neurological disorders accounted for over 10% of the global disease burden. Increasing geriatric population which is more susceptible to these disorders will further drive the market growth. Additionally, growing adoption of companion diagnostics for treatment monitoring and increasing R&D investments in biomarker discovery will also promote the market growth over the forecast period. Growing prevalence of neurological disorders and increasing adoption of biomarker-based diagnostics and monitoring solutions are expected to propel the neurological biomarkers market.However, high cost associated with neurology research and development might impede the market growth.

SWOT Analysis
Strength: The neurological biomarkers market has strong growth potential driven by rising incidence of neurological disorders and growing geriatric population that is more prone to these conditions. Furthermore, advances in proteomics and genomic technologies have enabled development of novel classes of biomarkers. This is expected to drive their demand over the forecast period.

Weakness: However, high costs associated with biomarker discovery, validation and commercialization remains a major challenge. Additionally, lack of reimbursements and regulatory frameworks especially in developing nations can hamper market growth.

Opportunity: Key opportunities lies in increasing research funding for neurological disorders from private and public organizations. There is also scope for discovery of more specific biomarkers that allows early diagnosis and targeted therapies. Emerging economies in Asia Pacific and Latin America represent untapped markets.

Threats: Major threats include regulatory issues related to approval and commercialization of biomarkers. Intense competition from alternatives diagnostic tools and lack of patient awareness in developing countries also poses challenges.

Key Takeaways

The Global Neurological Biomarkers Market Share is expected to witness high growth over the forecast period from 2023 to 2030. Strong pipeline of novel biomarkers, rising neurological disorders and growing focus on personalized medicine will drive demand. The market was valued at US$ 11813.64 Mn in 2024 and is anticipated to grow at a CAGR of 5.9% through 2030.

Regional analysis indicates that North America currently dominates due to presence of leading biomarker companies, higher healthcare spending and growing geriatric population. However, Asia Pacific is poised to be the fastest growing market attributed to rising cases of Alzheimer's and Parkinson's disease, increasing investments by market players and improving healthcare infrastructure in countries like India and China.

Key players operating in the neurological biomarkers market are Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd., ACG Materials, Anhydritec, BNZ Materials Inc., American Gypsum, Gyptec Iberica. These companies are focusing on new product approvals and launches, partnerships, acquisitions and regional expansion strategies to consolidate their market position. For instance, in 2022 LafargeHolcim acquired Firestone Building Products to strengthen its solution and products portfolio for building and construction applications.

For more insights, Read- https://www.pressreleasebulletin.com/neurological-biomarkers-market-demand-share-analysis/

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