neurological biomarker Market

The global neurological biomarker market is expected to reach US$ 5,501.8 million by 2027 from US$ 14,454.7 million in 2019; it is estimated to grow at a CAGR of 13.0% from 2020 to 2027.

The rising prevalence of neurological diseases and growing focus on neurological biomarker researchare the major factorsdriving the growth of the neurological biomarker market. However, the concerns associated with biomarker such as measurement errors and cost hindersthe growth of the market. 

Neurological diseases contribute to a significant burden on health systems in terms of disease diagnosis, treatment, and management. Epilepsy, Alzheimer's disease, multiple sclerosis, spinal muscular atrophy (SMA), and Duchenne muscular dystrophy are among the major neurological disorders. According to the Global Burden of Disease Study, in 2016, neurological disorders are the main cause of disability-adjusted life-years (DALYs) and the second major cause of deaths. Stroke (42.2%), migraine (16.3%), Alzheimer's, and other dementias (10.4%) are among the four most significant neurological diseases causing DALYs.As per the 2019 Alzheimer's disease Facts and Figures Report, in 2019, ~5.8 million Americans of all ages were suffering from Alzheimer’s dementia. Among 5.8 million patients, 81% of the patients were aged 75 years and above. Thus, the increasing prevalence of neurological diseases is a major factor driving the growth of the global neurological biomarker market during the forecast period.

The global neurological biomarker market is segmented on the basis of product, application, and end user. Based on product, the market is segmented into proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, and others. In 2019, genomics biomarker held the largest share of the market; moreover, the market for the same is expected to grow at the fastest CAGR during the forecast period.Based on application, the neurological biomarker marketis segmented into Alzheimer's disease, Parkinson's disease, schizophrenia, Huntington's disease, spinal muscular atrophy, and others.On the basis of enduser, the neurological biomarker markethas been segmented into pharmaceutical and biotechnology companies, clinical diagnostics, and research organizations.

The Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), European Federation of Pharmaceuticals Industries Associations, European Medical Association, Biomarkers Biospecimen and Data Repository, Global Burden of Disease,and Boston University School of Medicineare a few of the essential secondary sources referred to while preparing this report.