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IMARC Group, a leading market research company, has recently released a report titled “Neurological Biomarkers Market Report by End Use (Food Industry, Feed Industry, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is the CAGR of the neurological biomarker market?
The global neurological biomarkers market size reached US$ 8.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.0 Billion by 2032, exhibiting a growth rate (CAGR) of 11.3% during 2024-2032.
Global Neurological Biomarkers Market Trends:
The increasing utilization of liquid biopsies in neurology, which involves analyzing biomarkers in body fluids such as blood and cerebrospinal fluid, to offer a less invasive and more accessible alternative to traditional tissue biopsies, is strengthening the market growth. Moreover, the integration of neurological biomarkers into personalized treatment plans, allowing for tailored therapies based on an individual's unique biomarker profile, is catalyzing the market growth. Additionally, the increasing collaboration between biotechnology companies and academic institutions to foster innovation in biomarker discovery and validation is enhancing the market growth.
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Factors Affecting the Growth of the Neurological Biomarkers Industry:
The continuous advancements in diagnostic technologies are some of the major factors bolstering the market growth. In line with this, the development of more sensitive and specific biomarkers that help in the detection and monitoring of neurological disorders is fueling the market growth. Moreover, rapid innovations such as next-generation sequencing (NGS), advanced imaging techniques, and proteomics to enable the identification of novel biomarkers that can diagnose conditions at earlier stages are fostering the market growth. For example, biomarkers for Alzheimer's disease, such as amyloid-beta and tau proteins, can be detected with greater accuracy using positron emission tomography (PET) scans and cerebrospinal fluid analysis. Furthermore, the burgeoning integration of artificial intelligence (AI) and machine learning (ML) in biomarker discovery and analysis that accelerate the identification of potential biomarkers is expanding the market growth.
The increasing prevalence of neurological disorders across the globe, such as Alzheimer's disease, Parkinson's disease, multiple sclerosis, and stroke, is another significant driver catalyzing the market growth. Along with this, the rising burden on healthcare systems, creating a demand for early and accurate diagnostic tools provided by neurological biomarkers, is fostering the market growth. Moreover, the increasing realization of the importance of early diagnosis for effective management and treatment of these disorders, potentially slowing disease progression and improving patient outcomes, is anticipated to drive the market growth. Additionally, the rising awareness of these conditions, boosting the need for regular screening and monitoring, is propelling the market growth.
The substantial investment in research and development (R&D) by pharmaceutical companies, academic institutions, and government bodies to explore new biomarkers and improve existing ones for understanding neurological diseases is positively impacting the market growth. In line with this, pharmaceutical companies are interested in biomarkers for their potential to facilitate drug development. They can be used to identify patient subgroups that are more likely to respond to certain treatments, making clinical trials more efficient and cost-effective. Moreover, the growing recognition of the importance of biomarkers among regulatory agencies, which improves drug approval processes, thereby encouraging more investment, is fueling the market growth.
Top Companies Operating in Global Neurological Biomarkers Industry:
Neurological Biomarkers Market Report Segmentation:
By Type:
Proteomic biomarkers dominated the segment due to their ability to provide comprehensive insights into protein expression and function, crucial for understanding complex neurological disorders.
By Application:
Alzheimer's disease represented the largest segment as it is one of the most prevalent and researched neurological conditions, driving significant demand for early diagnostic and monitoring biomarkers.
By End Use:
Hospital laboratories accounted for the largest market share as they are primary centers for clinical diagnostics and biomarker testing, offering specialized facilities and expertise.
Regional Insights:
North America's dominance in the neurological biomarkers market is attributed to its advanced healthcare infrastructure, high investment in research and development (R&D), and substantial prevalence of neurological disorders.
Other Key Points Covered in the Report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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