Neurogenetic Testing Market Growth Outlook Through 2024-2033

Overview and Scope
Neurogenetic testing is a type of genetic testing that focuses on identifying genetic variations associated with neurological disorders or conditions affecting the nervous system. It is used for diagnosing, predicting, and managing neurological disorders, as well as facilitating research and the development of personalized treatment approaches in the field of neurology and genetics.

Sizing and Forecast
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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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

<h4 class=reporthtag>Increasing Cancer Prevalence Fuels Growth in Neurogenetic Testing Market</h4>

The rising prevalence of cancer is expected to propel the growth of the neurogenetic testing market. Cancer refers to a disease in which abnormal cells divide uncontrollably and destroy body tissue. Cancer cases are increasing due to several factors, including the obesity epidemic, inherited genetic abnormalities, hepatitis B and C viruses, Epstein-Barr virus (EBV), and human papillomavirus (HPV). Neurogenetic testing is essential to the management of cancer, as it assists in choosing the most effective course of treatment, evaluates prognoses, identifies high-risk patients, and provides individualized care based on the particular genetic profile and family history of each patient. For instance, in May 2024, according to the American Society of Clinical Oncology, a US-based professional organization, an estimated 20 million new cases of cancer were found in 2022, and by 2050, there would be 35 million new cases globally, accounting for 9.7 million deaths from the disease. Therefore, the rising prevalence of cancer is driving the growth of the neurogenetic testing market.

Key Industry Players
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

The neurogenetic testing market report table of contents includes:

1. Executive Summary
2. Neurogenetic Testing Market Characteristics
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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