Analyzing the Future of Neurogenetic Testing Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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How has the neurogenetic testing market size evolved in recent years?
The scale of the neurogenetic testing market has experienced rapid expansion lately. Its growth is anticipated to increase from $0.61 billion in 2024 to $0.7 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 13.9%. The significant development during the historic period is a result of the rise in the occurrence of neurological ailments, expanded research in the life science sector, a growing number of Parkinson’s disease patients, elevated cancer cases, and heightened awareness among healthcare experts.
What are the predictions for the neurogenetic testing market size in the coming years?
The market size for neurogenetic testing is projected to experience a swift expansion in the coming years, reaching $1.16 billion in 2029 with a 13.5% compound annual growth rate (CAGR). This growth during the forecast period is likely due to a variety of factors including an increase in personalized medicine, a rise in chronic illnesses, a higher number of hospitals and diagnostic laboratories, and a surge in demand for early disease detection. Notable trends for the forecast period comprise technological progression, an escalation in non-invasive testing preference, development of new products, strategic partnerships, and the emergence of innovative biomarkers for neurological disorders.
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What key factors are fueling the growth of the neurogenetic testing market?
The escalating incidence of neurological disorders is anticipated to boost the growth of the neurogenetic testing market. These disorders pertain to any complications that impair the nervous system, comprising the brain, spinal cord, and nerves. Genetic predisposition, infections, trauma, toxins, autoimmune reactions, and degeneration are the main causes of these neurological disorders. Neurogenetic testing plays a significant role in diagnosing, treating, and managing neurological disorders by providing a customized understanding of genetic risk factors, guiding treatment options, and enabling the individuals and their families to make educated healthcare decisions thus enhancing patient care and results. For example, in April 2022, the European Brain Council, a non-profit organization based in Belgium, reported that over 600 neurological diseases and close to 300 psychiatric conditions are causing suffering to millions across the world, including 65 million individuals with epilepsy. In Europe, 10.5 million individuals are dealing with dementia, and the number is projected to increase to 18.7 million by 2050. Therefore, this escalating incidence of neurological disorders is anticipated to spur the growth of the neurogenetic testing market.
Neurogenetic Testing Market Driver: Surge in Cancer Incidence Boosts Growth in Neurogenetic Testing Market
How is the global neurogenetic testing market divided into key segments?
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
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Who are the key firms paving the way for growth in the neurogenetic testing market?
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
What emerging trends are influencing the growth of the neurogenetic testing market?
Leading firms in the neurogenetic testing market, like Nucleus Genomics, are producing cutting-edge products such as whole-genome sequencing (WGS), which significantly expands the precision and reach of genetic assessments, enabling more detailed and personalized evaluations for neurological conditions. WGS is an extensive genomic assessment technique that involves identifying the full DNA sequence of a person’s total genome. For instance, in March 2024, Nucleus Genomics, a firm based in the US that offers genetic assessments, introduced a product for DNA evaluation. This platform empowers individuals with a deeper comprehension of their genetic traits, aiding them in making informed judgments about their health and overall well-being. Nucleus Genomics, with its advanced technology and professional genetic counseling services, is poised to transform the genetic testing landscape. By delivering the ability to perform whole-genome sequencing directly to the public, it’s revolutionizing genomic medicine.
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What regions are contributing significantly to the growth of the neurogenetic testing market?
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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