What Is The Current and Historic Market Size Analysis Of The Neurogenetic Testing Market?
The neurogenetic testing market has seen considerable growth due to a variety of factors.
• The neurogenetic testing market has grown rapidly in recent years. It will expand from $0.61 billion in 2024 to $0.7 billion in 2025, at a CAGR of 13.9%.
The growth is driven by the rising prevalence of neurological diseases, increasing research in life sciences, more cases of Parkinson's disease and cancer, and greater awareness among healthcare professionals.
What Are The Predictions for The Neurogenetic Testing Market in the Coming Years?
The neurogenetic testing market is expected to maintain its strong growth trajectory in upcoming years.
• The neurogenetic testing market is expected to grow to $1.16 billion by 2029 at a CAGR of 13.5%.
Growth is driven by expanding personalized medicine applications, a rise in chronic diseases, and more diagnostic laboratories. Key trends include technological advancements, non-invasive testing, and strategic collaborations to develop new biomarkers for neurological conditions.
Which Drivers Are Accelerating Growth In The Neurogenetic Testing Market?
The increasing prevalence of neurological disorders is expected to drive the growth of the neurogenetic testing market. Neurogenetic testing offers insights into genetic risk factors for neurological conditions, assisting in diagnosis and treatment decisions. It plays a key role in managing conditions such as Alzheimer's, Parkinson's, and epilepsy. For instance, in April 2022, the European Brain Council reported over 600 neurological diseases affecting millions globally, with projections indicating significant growth in conditions like dementia. This increasing prevalence of neurological disorders is driving the neurogenetic testing market.
What Are The Core Segments Of The Global Neurogenetic Testing Market?
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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How Are New Trends Impacting The Size 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.
Who Are the Key Players 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 Are The Regional Insights Into 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.
