Neuroscience Antibodies and Assays Market Size

Neuroscience Antibodies & Assays Market Analysis

The neuroscience antibodies and assays market is expected to register a CAGR of around 10.2% during the forecast period.

• COVID-19 had a significant impact on the neuroscience antibodies and assays market in the initial phases since the market faced a decline in growth due to the lockdown, which caused the temporary closing of many laboratory facilities conducting neuroscience assays. For instance, according to an article published in April 2022 by PubMed, researchers faced decreased neuroscience research funding, resource limitations, laboratory and hospital access restrictions, and reductions in available personnel during the pandemic. 
• The market will likely witness growth in the coming years due to the high prevalence of neurological diseases, research and developments, and technological advances in the neuroscience antibodies and assay market. Moreover, patients infected with COVID-19 have developed long-term neurological complications, which can drive market growth. Future market expansion is anticipated to be driven by the increasing demand for neuroscience assays and antibodies due to the surge in neuroscience advancements following the pandemic.
• The high prevalence of neurological diseases is one of the major driving factors for market growth, as these are likely to lead to the increased use of immunoassays to detect neurological diseases accurately. For instance, according to Parkinson's Foundation, as of 2022, nearly one million people in the United States are living with Parkinson's disease (PD). This number is expected to rise to 1.2 million by 2030. Parkinson's is the second-most common neurodegenerative disease after Alzheimer's disease. More than 10 million individuals worldwide also have Parkinson's disease. Hence, the high prevalence of neurological diseases will likely boost the market growth. 
• Furthermore, growth in the pharmaceutical and biotechnology industries will likely boost market growth over the forecast period. For instance, according to the Indian Economic Survey 2021, the domestic market is expected to triple in the next decade. India's domestic pharmaceutical market stood at USD 42 billion in 2021 and is likely to reach USD 65 billion by 2024 and increase to USD 120-130 billion by 2030. 
• Furthermore, neuroscience research relies heavily on antibodies that help identify and elucidate cellular, molecular, and biochemical reactions, which may lead to a better understanding of various neuroscience processes and neuronal diseases. This could increase the growth of the market over the forecast period. 
• According to an article published in December 2021 by Oxford Academic, antibody-based treatments are increasingly common in treating neuroinflammatory illnesses. The specificity-conferring antigen-binding fragment (Fab) and the crystallizable fragment (Fc) driving antibody function affect the efficiency of antibody-based therapeutic platforms. Hence, increased research activities relating to neurology antibodies and assays will likely boost market growth over the forecast period.
• Hence, due to the rising incidence of neurological diseases and increasing research and development activities, the neuroscience antibodies and assays market is anticipated to witness growth over the forecast period. However, the high cost associated with the production of antibodies restrains the market growth.