Asia Pacific Neurological Biomarker Market is expected to reach US$ 2,620.63 million by 2027

According to a new market research study of “Asia Pacific Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Application, End User and Country.” 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 report highlights trends prevailing in the Asia Pacific neurological biomarker market and the factors driving market along with those that act as hindrances.

The Asia Pacific neurological biomarker market, based on product is segmented into, proteomics biomarker, genomics biomarker, metabolomics biomarker, imaging biomarker, others. In 2019, the genomics biomarker segment held the largest share of the market, by product. Moreover, the same segment is expected to grow at the fastest rate during the forecast period. 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 growth of the market is attributed to some 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 one of the major factors likely to hinder the market growth during the forecast period.

Thermo Fisher Scientific Inc., Abbott and Bio-Rad Laboratories Inc. are among the leading companies operating in the Asia Pacific neurological biomarker market.

The report segments in Asia Pacific Neurological Biomarker Market as follows:

By Product

• Proteomics Biomarker
• Genomics Biomarker
• Metabolomics Biomarker
• Imaging Biomarker
• Others

By Application

• Alzheimer’s Disease
• Parkinson's Disease
• Schizophrenia
• Huntington's Disease
• Spinal Muscular Atrophy
• Others

By End User

• Pharmaceutical and Biotechnology Companies
• Clinical Diagnostics
• Research Organizations

By Country

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific