Neurological Biomarkers Market Size, Share, Growth Analysis, By Service(Sample preparation, assay development), By End user(Clinical diagnostics, pharmaceutical and biotechnology companies) - Industry Forecast 2024-2031

Neurological Biomarkers Market size was valued at USD 5.4 Billion in 2021 and is poised to grow from USD 6.13 Billion in 2022 to USD 17.01 Billion by 2030, at a CAGR of 13.6% during the forecast period (2023-2030).

The neurological biomarkers market features a competitive landscape characterised by a diverse array of players, including technology developers, diagnostic companies, research institutions, and pharmaceutical firms. These entities engage in extensive research and development activities to discover and validate novel neurological biomarkers, aiming to establish a strong market presence. The competition is driven by the increasing demand for reliable and accurate biomarkers to aid in the diagnosis and management of neurological disorders. Companies are investing in cutting-edge technologies and strategic partnerships to stay at the forefront of biomarker research and development. Additionally, regulatory approvals and clinical validations play a vital role in determining the market success of neurological biomarkers, leading to intense competition among companies to achieve these milestones. The focus on personalised medicine and targeted therapies further amplifies the competition, as companies strive to identify patient-specific biomarkers that can guide precise treatment selection. While established players leverage their experience and market reputation to maintain their positions, newer entrants often focus on niche applications and disruptive technologies to gain traction in the dynamic neurological biomarkers market. The continuous evolution of biomarker research, technological advancements, and the identification of novel biomarkers will shape the competitive landscape, providing opportunities for companies to differentiate themselves and contribute to advancements in neurological care. 'Quanterix Corporation (US)', 'Thermo Fisher Scientific Inc. (US)', 'Myriad Genetics, Inc. (US)', 'QIAGEN N.V. (Germany)', 'Bio-Rad Laboratories, Inc. (US)', 'Merck KGaA (Germany)', 'F. Hoffmann-La Roche Ltd (Switzerland)', 'Siemens Healthineers AG (Germany)', 'Johnson & Johnson (US)', 'Bio-Techne Corporation (US)', 'Alector Inc. (US)', 'Banyan Biomarkers, Inc. (US)', 'Charles River Laboratories International, Inc. (US)', 'Cisbio (France)', 'C2N Diagnostics (US)', 'ImmunArray (US)', 'Noldus Information Technology (Netherlands)', 'Euroimmun AG (Germany)', 'Cerebrospinal Fluid Diagnostics (US)', 'EKF Diagnostics Holdings plc (UK)'

The increasing prevalence of neurological disorders, such as Alzheimer's disease, Parkinson's disease, multiple sclerosis, and others, is a significant driver of the neurological biomarkers market. As the incidence of these disorders continues to rise, there is a growing demand for accurate and early diagnostic tools to enable timely intervention and effective disease management.

Integration of Artificial Intelligence (AI) and Machine Learning (ML): The incorporation of AI and ML algorithms in biomarker research and data analysis gained prominence. These advanced technologies helped in automating data interpretation, identifying patterns, and predicting disease outcomes, enhancing the efficiency and accuracy of neurological biomarker discovery and validation.

North America stands as the dominant market for neurological biomarkers. North America's dominance can be attributed to the presence of well-established healthcare infrastructure, extensive research and development activities, and a high prevalence of neurological disorders in the region. Additionally, strong support from government and private organisations for innovative biomarker research and adoption further contributes to North America's leading position in the market.