Neurological Biomarkers Market Is Driven By Rising Prevalence Of Neurological Disorders
The neurological biomarkers market involves products and technologies used to accurately measure and analyze biomarkers in biological fluids and tissues to detect neurological conditions. Neurological biomarkers find widespread application in diagnosis, treatment monitoring and drug development for central nervous system disorders. Types of biomarkers include protein, genetic and imaging biomarkers for conditions such as traumatic brain injury, Alzheimer's disease, Parkinson's disease and epilepsy.
The Global neurological biomarkers market is estimated to be valued at US$ 13609.32 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2030.
Key Takeaways
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. The growing prevalence of neurological disorders worldwide is fueling the demand for diagnostic and monitoring biomarkers. Technological advancements in omics technologies and imaging modalities have enabled more accurate detection of biomarkers indicative of neurodegenerative changes. Rising research funding and public-private partnerships for biomarker development are enabling rapid global expansion of the neurological biomarkers market.
Market drivers
The increasing incidence and economic burden of neurological disorders is a major factor driving the neurological biomarkers market. According to WHO statistics, over 1 billion people worldwide suffer from neurological diseases with Alzheimer's and other dementias affecting over 55 million people globally. Neurological conditions pose a significant healthcare challenge with a projected cost of $2 trillion annually by 2030. Biomarkers offer solutions for improved diagnosis, prognosis and targeted treatment response monitoring driving their increased adoption.
Impact of geopolitical situation on Neurological Biomarkers Market growth
The Neurological Biomarkers Size is witnessing steady growth owing to rising incidence of neurological disorders worldwide. However, geopolitical tensions among some countries could hamper cross-border collaboration and data sharing efforts in biomarker research. Ongoing conflicts and political instability in certain regions also disrupt healthcare infrastructure and financing. This poses challenges for market players in effectively addressing the unmet needs in those areas. To sustain progress, companies must consider diversifying supplier and manufacturer networks to mitigate supply chain risks. Partnerships with local stakeholders can help ensure continuity of patient care services. Adopting remote and virtual R&D models may facilitate collaboration even during tough political climates. Looking ahead, as geopolitics becomes increasingly complex, neurological biomarker firms need to devise adaptive long-term strategies to navigate such hurdles and maximize opportunities across diverse geographies.
Geographical regions where Neurological Biomarkers Market value is concentrated
Currently, North America dominates the neurological biomarkers market in terms of revenue, owing to presence of advanced healthcare infrastructure and favorable reimbursement policies. The US alone contributes over 40% of global market value. Presence of major pharmaceutical companies and growing research funding also drives the regional market. Europe is another lucrative regional market, supported by increasing healthcare expenditure and R&D investments by governments as well as industry players. However, Asia Pacific is fast emerging as a high-growth geographical area for neurological biomarkers. This can be attributed to rising neurological disorders incidence, growing healthcare penetration, and improving diagnostic capabilities in developing Asian countries.
Fastest growing region for Neurological Biomarkers Market
The Asia Pacific region is poised to witness the fastest growth in the global neurological biomarkers market during the forecast period. This promising outlook can be credited to rapidly expanding medical tourism industry, growing consumer affordability, and improving awareness about disease management. China, Japan and India especially offer massive untapped market potential and are actively working to enhance local biomarker research infrastructure. In addition, availability of large patient pools and ongoing deregulation initiatives will attract more global investments. Leveraging the opportunities in Asia Pacific requires catering to the unique requirements through appropriate partnerships and affordable solutions. As diagnostic capabilities enhancing in the region, the demand for neurological biomarkers is expected to rise exponentially in the coming years.
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