Top Growth Trends in the Neurogenetic Testing Market: Key Insights and Opportunities for 2025-2034
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How Does the Projected Growth of the Neurogenetic Testing Market Compare Over the Forecast Period?
There has been substantial growth recently in the neurogenetic testing market. The current forecast indicates an expansion from $0.61 billion in 2024 to $0.7 billion in 2025, maintaining a compound annual growth rate (CAGR) of 13.9%. This considerable growth during the historic period can be linked to factors such as the escalating prevalence of neurological illnesses, amplified research in the sphere of life sciences, mounting cases of Parkinson’s disease, an upsurge in cancer incidents, and heightened awareness among healthcare practitioners.
Forecasted to expand rapidly in the coming years, the neurogenetic testing market is predicted to reach a staggering $1.16 billion in 2029, growing at a compound annual rate (CAGR) of 13.5%. The reasons for this growth span a range of factors, from the increased uses in personalized medicine to the growing prevalence of chronic diseases. The rising number of hospitals and diagnostic labs, as well as a growing interest in early disease detection, also contribute to this growth. Key trends for the forecast period include technological advancements, the increasing preference for non-invasive testing methods, the development of new products, strategic collaborations, and the arrival of innovative biomarkers for neurological conditions.
Which Factors Are Enhancing the Growth of the Neurogenetic Testing Market?
The increase in cases of neurological disorders is predicted to fuel the expansion of the neurogenetic testing market. Neurological disorders encompass conditions that impact the brain, spinal cord, and nerves of the nervous system. These disorders can arise due to genetic predisposition, trauma, infections, toxins, autoimmune reactions, and degeneration. Neurogenetic testing greatly improves the diagnosis, treatment, and management of these disorders by providing personalized understanding of genetic risk factors, assisting in treatment choices, and enabling individuals and their families to make educated healthcare decisions, subsequently enhancing patient care and outcomes. In April 2022, the Belgium-based non-profit organization, the European Brain Council confirmed that worldwide, over 600 neurological diseases and nearly 300 psychiatric conditions affect millions, including 65 million epilepsy sufferers. Within Europe, dementia affects 10.5 million people and is forecasted to reach 18.7 million by 2050. Thus, the escalating prevalence of neurological disorders will trigger a growth in the neurogenetic testing market. The upsurge in instances of cancer is anticipated to fuel the expansion of the neurogenetic testing market. Cancer is known as a disease that causes abnormal cells to divide uncontrollably, which leads to the destruction of body tissue. The increase in cancer cases are due to factors such as the obesity crisis, inherited genetic abnormalities, viruses like hepatitis B and C, Epstein-Barr virus (EBV), and human papillomavirus (HPV). Neurogenetic testing plays a crucial role in the management of cancer by aiding in the selection of the most effective treatment course, evaluating prognoses, singling out high-risk patients and supplying individualized care based on each patient’s unique genetic profile and family history. For example, the US-based professional organization, the American Society of Clinical Oncology reported in May 2024 that there were an estimated 20 million new cancer cases in 2022, with predictions of 35 million new cases worldwide by 2050 accounting for 9.7 million deaths from the disease. Therefore, the surge in cancer incidence is steering the growth of the neurogenetic testing market.
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Who Are the Key Players Steering the Development of the Neurogenetic Testing Market?
Major companies operating in the neurogenetic testing market are:
• Thermo Fisher Scientific Inc._x000D_
• Mayo Clinic_x000D_
• Roche Diagnostics Corporation_x000D_
• Laboratory Corporation_x000D_
• Quest Diagnostics Incorporated_x000D_
How Are Consumer Trends Shaping the Current and Future Landscape of the Neurogenetic Testing Market?
Leading corporations in the neurogenetic testing market are introducing cutting-edge products like whole-genome sequencing to improve the precision and breadth of genetic analysis, thereby allowing more thorough and individualized testing for neurological conditions. Whole-genome sequencing (WGS) is an exhaustive genetic analysis approach that deciphers the full DNA sequence of a person’s entire genome. For example, in March 2024, Nucleus Genomics, a firm based in the US that specialises in genetic analysis, unveiled a DNA analysis product. This platform equips individuals with an in-depth comprehension of their genetic tendencies, aiding them in making informed choices about their health and wellness. Through advanced technology and skilled genetic counseling services, Nucleus Genomics is poised to transform the genetic testing sector, making whole-genome sequencing readily accessible to individuals and revolutionising genomic medicine.
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What Are the Strategic Segments Comprising the Neurogenetic Testing Market and Their Growth Contributions?
The neurogenetic testing market covered in this report is segmented –
1) By Type: 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
Subsegments:
1) By Microarray Analysis: Comparative Genomic Hybridization (CGH) Microarray, Single Nucleotide Polymorphism (SNP) Microarray, Gene Expression Microarray
2) By Whole-Exome Sequencing (WES): Targeted Exome Sequencing, Clinical Exome Sequencing, Research-Grade Exome Sequencing
3) By Multiplex Ligation Dependent Probe Amplification (MLPA): MLPA For Copy Number Variation, MLPA For Methylation Analysis, MLPA For Specific Disease Detection
4) By Polymerase Chain Reaction (PCR) Tests: Quantitative PCR (qPCR), Reverse Transcription PCR (RT-PCR), Digital PCR (dPCR)
5) By Other Types: Next-Generation Sequencing (NGS), Southern Blotting, Fluorescence In Situ Hybridization (FISH), Sanger Sequencing
Which Geographical Regions Are Shaping the Neurogenetic Testing Market Growth?
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.
What Are the Key Characteristics That Define the Neurogenetic Testing Market?
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.
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