The Asia Pacific neurological biomarker market is expected to reach US$ 2,620.63 million by 2027 from US$ 927.05 million in 2019; it is estimated to grow at a CAGR of 14.1% from 2020 to 2027. The growth of the market is attributed to key driving factors such as rising prevalence of neurological diseases and growing focus on neurological biomarker research. On the other hand, concerns associated with use of biomarkers such as the absence of pre-analytical tests are among the major factors hindering the market growth.
Neurological biomarkers are molecules present in the cerebral spinal fluid (CSF) or blood that support the diagnosis of brain disorders and monitor disease progression. These biomarkers' primary sources are genetic mutations, metabolite levels, brain imaging, and changes in protein expression or post-translational modifications. This helps in the earlier detection of disease, with less invasive diagnostics and also allows faster drug development. Currently, research activities focused on biomarkers in neurodegenerative diseases are significantly increasing due to the surging incidence of Alzheimer’s and Parkinson’s diseases across Asia Pacific. As per the estimates by Mindgardens Neuroscience Network 2019, from 2010 to 2017, about 15.6% of Australian population suffered from some type of neurological disorder. Also, introduction of digital biomarkers and the growing focus on neurological biomarker research are anticipated to propel the growth of the Asia Pacific neurological biomarker market in the coming years.
The COVID-19 outbreak pandemic has adversely affected the countries in Asia Pacific. Patients suffering from severe health conditions such as neurological diseases have been witnessing delays in chronic disease treatment. However, many companies and research institutes are taking initiatives to accelerate research in the diagnosis, treatment, and prevention of the neurological complications that may be caused by COVID-19. Thus, the Asia Pacific neurological biomarker market is facing challenges due to the COVID-19 outbreak.
The Asia Pacific neurological biomarker market, based on product, is segmented into proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, and others. In 2019, the genomics biomarker segment held the largest share of the market. Moreover, the market for the same segment is expected to grow at the fastest rate during the forecast period.
Based on application, the Asia Pacific neurological biomarker market is segmented into Alzheimer’s disease, Parkinson's disease, schizophrenia, Huntington's disease, spinal muscular atrophy, and others. The Alzheimer’s disease segment held the largest market share in 2019, and the market for the same segment is anticipated to grow at a significant rate during 2020 –2027.
The Asia Pacific neurological biomarker market, by end user, is segmented into pharmaceutical and biotechnology companies, clinical diagnostics, and research organizations. In 2019, the pharmaceutical and biotechnology companies segment held the largest share of the market. In addition, the market for the same segment is expected to grow at the fastest rate from 2020 to 2027.
A few of the primary and secondary sources referred to while preparing the report on the Asia Pacific neurological biomarkers market are the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), and Biomarkers Across Neurodegenerative Diseases (BAND).