Immunoassay for Neurological Biomarkers Market Size, Share & Trends Analysis Report By Product, By Disease (Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis), By Application, By Region, And Segment Forecasts, 2023 - 2030

Immunoassay for Neurological Biomarkers Market Size, Share & Trends Analysis Report By Product, By Disease (Alzheimer's Disease, Parkinson's Disease, Multiple Sclerosis), By Application, By Region, And Segment Forecasts, 2023 - 2030

Immunoassay for Neurological Biomarkers Market Growth & Trends

The global immunoassay for neurological biomarkers market size is expected to reach USD 2.24 billion by 2030, registering a CAGR of 17.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Usage of immunoassays for neurological biomarker testing is likely to witness significant growth during the forecast period owing to increasing prevalence of neurological diseases, growing awareness regarding biomarker usage, and extensive R&D activities as well as ongoing advancements to improve the sensitivity of kits & instruments to measure diagnostic biomarkers.

Biomarkers play a crucial role in selecting appropriate therapies and tracking disease progression. This can be evidenced by research initiatives and clinical studies that are being conducted in hospitals for developing biomarker tests, which, in turn, is anticipated to fuel market growth. For instance, Fundació Institut de Recerca de l’Hospital de la Santa Creu i Sant Pau is studying circulating microparticles to develop new biomarkers for neurological prognosis of patients.

Moreover, advancements in technologies help in the identification of early signs related to neurological disorders by detecting biomarkers in serum and blood. Some of the multiplexed immunoassay technologies include Olink's Proximity Extension Assay (PEA) and Quanterix's Simoa. Simoa is based on digitizing ELISA, which allows quantifying biomarkers in both blood and CSF, whereas PEA is based on nucleic acid technologies, helps prevent antibody cross-reactivity with immunoassay.

The rising number of disease-modifying therapies for neurological disorders is boosting the demand for immunoassays for biomarker testing in the market. For instance, in June 2021, the FDA granted accelerated approval to Aduhelm indicated for Alzheimer’s disease. Similarly, in January 2023, the FDA approved Alzheimer’s drug Leqembi (lecanemab). In addition, there are a number of disease-modifying therapies under clinical investigation, which are expected to be launched in the coming years, thereby creating lucrative growth opportunities for market players. For instance, as of November 2022, Roche’s RO7046015, indicated for Parkinson’s disease, is under phase II trial.

Furthermore, the government is undertaking various initiatives to provide better facilities, such as reimbursement for neurological diagnostic tests, which is likely to drive the market. Many healthcare institutions are working with laboratories to integrate different tests. High awareness about blood-based biomarker tests, a rise in the demand for affordable services, and technological advancements are some of the key factors expected to boost the market growth.

On the other hand, technological advancements are leading to an increase in the adoption of molecular diagnostics. Molecular diagnostics are based on the detection and amplification of nucleic acids, and these tests are more sensitive & provide specific results. As a result, the introduction of various quantitative and qualitative molecular assays, such as real-time PCR, LAMP-PCR, multiplex PCR, & digital PCR, that are capable of detecting low levels of analytes are expected to limit the demand of immunoassays for neurological biomarkers during the forecast period.

Immunoassay for Neurological Biomarkers Market Report Highlights

• Reagents segment held the largest share of 66.78% in 2022. This can be attributed to the increasing demand of immunoassay reagents for the diagnosis of neurological conditions and the growing disease burden
• By disease, the Alzheimer’s disease segment accounted for the largest share of 38.04% in 2022. The large share is due to the higher number of approved biomarkers, rise in prevalence of Alzheimer’s disease globally, and growing funding for the biomarker discovery
• By application, research application segment dominated the market in 2022 with a share of 68.17%, owing to the increasing applications of immunoassays in neurological R&D for biomarker discovery, validation, and qualification of various neurological disorders
• North America held the largest market share of 48.81% in 2022. The large share can be attributed to established healthcare infrastructure, increased per capita healthcare expenditure, in addition to rising funding and investments for neurological biomarker research in the region

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