The neurogenetic testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neurogenetic Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The neurogenetic testing market size has grown rapidly in recent years. It will grow from $0.54 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to increased prevalence of neurological disease cases, increase research in life science domain, increasing prevalence of parkinson’s disease, increased cases of cancer, and rising awareness among healthcare professionals.
The neurogenetic testing market size is expected to see rapid growth in the next few years. It will grow to $1.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to expanding applications in personalized medicine, rise in chronic diseases, increased number of hospitals, increased number of diagnostic laboratories and growing demand for early disease detection. Major trends in the forecast period include technological advancement, greater adoption of non-invasive testing methods, new product development, strategic collaborations, and the emergence of novel biomarkers for neurological conditions.
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Scope Of Neurogenetic Testing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Neurogenetic Testing Market Overview
Market Drivers –
The rising prevalence of neurological disorders is expected to propel the growth of the neurogenetic testing market. Neurological disorders refer to any conditions that affect the nervous system, which includes the brain, spinal cord, and nerves. The prevalence of neurological disorders are the cause of genetic predisposition, infections, trauma, toxins, autoimmune responses, and degeneration. Neurogenetic testing significantly enhances the diagnosis, treatment, and management of neurological disorders by offering personalized insights into genetic risk factors, guiding treatment decisions, and empowering individuals and families to make informed healthcare choices, thereby improving patient care and outcomes. For instance, in April 2022, according to the European Brain Council, a Belgium-based non-profit organization, over 600 neurological diseases and nearly 300 psychiatric conditions afflict millions globally, including 65 million with epilepsy. In Europe, 10.5 million people have dementia, with projections indicating a rise to 18.7 million by 2050. Therefore, the rising prevalence of neurological disorders is expected to drive the growth of the neurogenetic testing market.
Market Trends –
Major companies operating in the neurogenetic testing market are developing innovative products, such as whole-genome sequencing, to enhance the accuracy and scope of genetic analysis, enabling more comprehensive and personalized testing for neurological disorders. Whole-genome sequencing (WGS) is a comprehensive genetic testing method that involves determining the complete DNA sequence of an individual’s entire genome. For instance, in March 2024, Nucleus Genomics, a US-based company that provides genetic analysis, launched a DNA analysis product. Through this platform empower people with a deeper understanding of their genetic predispositions, facilitating informed decisions about their health and well-being. With cutting-edge technology and expert genetic counseling services, Nucleus Genomics is set to redefine the landscape of genetic testing, bringing the power of whole-genome sequencing directly into the hands of individuals and revolutionizing the field of genomic medicine.
The neurogenetic testing market covered in this report is segmented –
1) By Types: Microarray Analysis, Whole-Exome Sequencing (WES), Multiplex Ligation Dependent Probe Amplification (MLPA), Polymerase Chain Reaction (PCR) Tests, Other Types
2) By Disease: Rare Genetic Disorder, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease, Fragile X Syndrome, Other Diseases
3) By End-Users: Hospitals, Specialty Clinics, Research Institutes, Diagnostics Laboratories
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Regional Insights –
North America was the largest region in the neurogenetic testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurogenetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neurogenetic testing market are Thermo Fisher Scientific Inc., Mayo Clinic, Roche Diagnostics Corporation, Laboratory Corporation, Quest Diagnostics Incorporated, Eurofins Scientific Inc., Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Exact Sciences Corporation, Myriad Genetics Inc., BioReference Laboratories Inc., Connecticut Children’s, Invitae Corp., Ambry Genetics Corporation, Fulgent Genetics Inc., Blueprint Genetics Inc., GeneDx LLC, Pacific Biosciences of California Inc., MedGenome Labs, CENTOGENE, Baylor Genetics, Victorian Clinical Genetics Services
Table of Contents
1. Executive Summary
2. Neurogenetic Testing Market Report Structure
3. Neurogenetic Testing Market Trends And Strategies
4. Neurogenetic Testing Market – Macro Economic Scenario
5. Global Neurogenetic Testing Market Size and Growth
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32. Global Neurogenetic Testing Market Competitive Benchmarking
33. Global Neurogenetic Testing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Neurogenetic Testing Market
35. Neurogenetic Testing Market Future Outlook and Potential Analysis
36. Appendix
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