Neurological Biomarkers Market Projected 13.0% CAGR, to Reach USD 24.83 Billion By 2032
According to analysts at Zion Market Research, The global neurological biomarkers market size was valued at USD 7.39 billion in 2022 and is predicted to reach USD 24.83 billion by 2032. Also, the study states that the market reveals a robust 13.0% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023–2032.. The surging incidence of neurological diseases and augmenting prominence on early identification & treatment are likely to propel the growth of market. The high occurrence of neurological disorders is a prime driving factor for this market. According to the WHO estimates issued in 2018, more than 300 million people of all ages experience clinical depression globally. In addition, the lack of competent diagnostics in undeveloped and developing countries might augment the mortality rate of neurological disorders.
Rising Funding For Neurological Diagnostics Will Boost Global Neurological Biomarkers Market
The proactive administrative initiatives and rising funding for neurological analysis are likely to drive higher development in this market. For example, the NINDS (National Institute of Neurological Disorders and Stroke) is focused on decreasing the global concerns of neurological diseases by implementing regulatory tactics, evaluating therapeutic & diagnostic methods in neurology, and generating job opportunities for neuroscience research & development.
The global neurological biomarkers market is bifurcated on the basis of application, type, end-use, and regional analysis. Based on the application, the market is divided into Alzheimer’s disease, Parkinson’s disease, autism spectrum disorders, multiple sclerosis, and others. Based on the type, the market is divided into proteomic, genomic, imaging, metabolomic, and others. Based on the end-user, the market is divided into independent clinical diagnostic centers, hospital laboratories, research organizations, and others.
The Asia Pacific Region Expected To Register Massive Growth In The Global Neurological Biomarkers Market
Based on the geographical analysis, the global neurological biomarkers market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The North America region contributed for over 36.5% market share during 2018, due to robust commercial performances of neurological diagnostics across the U.S. Some of the other aspects accounted for the development included proactive administrative initiatives, surge in healthcare spending, and regional presence of major manufacturers. The Asia Pacific region is estimated to witness the fastest development during the forecasted period. The overall improvement in healthcare infrastructure, economic development, a surge in disposable earnings, and a rise in consumer consciousness are projected to contribute to the provincial growth rate.
Some of the leading players in the market are -
- QIAGEN
- Abbott
- Thermo Fisher Scientific Inc.
- Myriad RBM
- Bio-Rad Laboratories, Inc.
- Athena Diagnostics
- Acumen Pharmaceuticals
- AbaStar MDx, Inc.
- Alseres Pharmaceuticals, Inc.
- BANYAN BIOMARKERS, INC.
The global neurological biomarkers market is segmented as follows:
By application:
- Multiple Sclerosis
- Alzheimer’s Disease
- Parkinson’s Disease
- Autism Spectrum Disorders
- Others
By type:
- Metabolomic
- Genomic
- Proteomic
- Imaging
- Others
By end-user:
- Research Organizations
- Hospital Laboratories
- Independent Clinical Diagnostic Centers
- Others
By region:
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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