Neurological biomarkers play a vital role in diagnosis, treatment, and clinical research of neurological disorders such as Alzheimer's disease, Parkinson's disease, traumatic brain injuries, and epilepsy. Biomarkers help identify biochemical indicators that measure and indicate the progression of disease, evaluate the effectiveness of treatment, and aid in drug discovery and development process.
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 key trends:
Growing adoption of neurological biomarkers in clinical trials for research and development of novel drugs presents one of the major trends fueling growth of the neurological biomarkers market. Biomarkers are playing a key role in reducing risks, time, and costs involved in drug development process. Biomarkers help enrich clinical trials with patients most likely to experience the effect of experimental therapies, thereby accelerating drug approval process. With rise in R&D investments aimed at developing advanced treatment options for neurological disorders, adoption of biomarkers is expected to increase significantly over the forecast period. This in turn will support rapid expansion of the neurological biomarkers market.
Segment Analysis
The global neurological biomarkers market is segmented into proteomics, genomics, imaging, and other types. Among these, the proteomics segment dominated the market and held the largest market share in 2022. Proteomics aids in identifying novel biomarkers related to various neurological diseases through modern techniques like mass spectrometry. This large share is attributed to the widespread use and acceptance of proteomic tools for biomarker discovery and validation.
Key Takeaways
The Global Neurological Biomarkers Market Demand is expected to witness high growth. 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.
The North America region dominated the global neurological biomarkers market with highest market share in 2022. This large share is attributed to growing geriatric population, rising prevalence of neurological disorders, increasing adoption of advanced diagnostic techniques, and strong presence of key market players in the region. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to growing healthcare infrastructure, surging disposable income, large population base, and increasing healthcare spending in emerging economies like China and India.
Key players related content comprises Key players related content
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. Knauf Gips KG and Saint-Gobain Group capture majority of the market share due to their extensive geographical presence and robust product portfolio. Other leading players are focusing on new product launches and strategic partnerships to strengthen their market positions.
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