Neurological Biomarkers Market Size to Grow by USD 6.00 billion, Increasing Incidences of Neurological Disorders to Drive Growth – Technavio – Press Release

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NEW YORK, Aug. 30, 2022 /PRNewswire/ — The neurological biomarkers market will be driven by factors such as the increasing incidences of neurological disorders. Patients with severe neurological disorders such as epilepsy, Parkinson's disease, stroke, and brain tumors, are at a high risk of disability. These disorders can also be fatal. They can occur due to factors such as bacterial and viral infections, genetic factors, and the lack of immune response. Parkinson's disease is one of the most common types of neurological diseases. The prevalence of the disease is more common among the geriatric population. According to The World Bank Group, the percentage of the population aged 65 and above in the US increased from 14.26% in 2014 to 16.20% in 2020. Therefore, factors such as the increasing prevalence of various neurological disorders and the growing demand for the treatment of such disorders will contribute to the growth of the global neurological biomarkers during the forecast period.

The neurological biomarkers market size is expected to grow by USD 6.00 bn from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 12.43% during the forecast period.

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The increasing focus on accurate neurological diagnostics is a trend in the market. CT scans can be used to check bleeding or swelling in the brain, but they may not be accurate in some cases. As a result, many brain injuries are unrecognized and undiagnosed. Therefore, in recent years, there has been a trend of blood tests for detecting neurological biomarkers. Vendors are starting clinical trials and R&D of biomarkers, which can give accurate results for neurological disorders. Such developments will contribute to the neurological biomarkers market growth during the forecast period.

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This market has been segmented by indication (AD, PD, ASD, MS, and Others), end-user (hospitals, clinical diagnostic centers, research organizations, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

North America will lead the neurological biomarkers market during the forecast period. This growth is driven by factors such as the increasing demand for the diagnosis of neurological disorders. However, market growth in this region will be slower than the growth of the market in other regions. The US and Canada are the key countries for the neurological biomarkers market in North America.

The AD segment will be the largest revenue-generating indication segment during the forecast period. AD is a brain disorder that can destroy memory, thinking skills, and the ability to carry out simple tasks. Neurobiological biomarkers can be used for the early detection of AD. They indicate progressive development before the main manifestations of the disease. Such factors will fuel the neurological biomarkers market growth during the forecast period.

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