South and Central America Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Application, and End User

The South and Central America neurological biomarker market is expected to reach US$ 1,185.28 million by 2027 from US$ 502.07 million in 2019; it is estimated to grow at a CAGR of 11.5% from 2020 to 2027. The growth of the market is attributed to a few key driving factors such as rising prevalence of neurological diseases and growing focus on neurological biomarker research. On the other hand, concerns associated with the use of biomarkers such as the absence of pre-analytical tests are among the major factors that hinder 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 early detection of disease and less invasive diagnostics. It also allows faster drug development and is expected to be the effective treatment for neurological disorders. 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 South and Central America. According to the latest report from Alzheimer’s Disease International 2020, in Brazil, it was estimated that 6% of the 15 million people aged 60 years and above have Alzheimer’s Disease. Also, the introduction of digital biomarkers and the growing focus on neurological biomarker research are anticipated to propel the growth of the South and Central America neurological biomarker market in the coming years.

The COVID-19 outbreak pandemic has adversely affected the countries in the South and Central America. 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 South and Central America neurological biomarker market is facing challenges due to the COVID-19 outbreak.

The South and Central America 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 South and Central America 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 South and Central America 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 South and Central America neurological biomarker market are Alzheimer’s Disease International (ADI), Brazilian Academy of Neurology, and Brazilian Institute of Neuroscience and Neurotechnology (BRAINN).