REDDING, Calif., Oct. 01, 2024 /PRNewswire/ -- According to a new market research report titled, 'China Neurogenomics Market Size, Share, Forecast, & Trends Analysis by Offering (NGS [Kits {Library Prep, QC, DNA Extraction}, Systems], PCR, Microarrays {Protein, DNA, RNA, Tissue}, Software) Application (Research, Clinical), End User-Forecast to 2031.
The China Neurogenomics Market is projected to reach $562.1 million by 2031, at a CAGR of 19.4% from 2024 to 2031.
Download FREE PDF Brochure Of China Neurogenomics Market -https://www.meticulousresearch.com/product/china-neurogenomics-market-6003
The growth of this market is driven by the declining costs of sequencing, the increasing prevalence of neurological disorders, the growing utilization of advanced sequencing technologies in disease diagnostics & precision medicine, increasing pharmaceutical R&D expenditures, improvements in regulatory & reimbursement scenarios for gene sequencing, rising healthcare expenditures, increasing funding for research activities, the growing need for the early detection & prevention of neurological diseases, technological advancements in neurogenomics products, and government initiatives promoting the use of sequencing in clinical & research applications. However, the high prices of neurogenomics products, the low chances of identifying positive, actionable mutations for precision medicine, and ethical & legal issues related to sequencing-based diagnosis are expected to restrain the growth of this market.
The increasing adoption of targeted therapies, emerging economies, and rising awareness regarding neurological disorders are expected to create market growth opportunities. Moreover, the dynamic regulatory landscape, the limited expertise & sequencing capabilities of small & medium-sized laboratories, the shortage of sequencing professionals in the country, and the high capital investments required for sequencing setups are prominent trends in the China Neurogenomics Market.
Declining Cost of Sequencing is Driving the Market Growth
Various pharmaceutical and biotechnology companies have been focusing on genomic research since 2003. This has led to the emergence of the full sequence of the entire human genome. Additionally, rising funding for genomic research activities, the development of advanced sequencing technologies and bioinformatics tools, and the reduced cost of genomic studies provide great opportunities for companies to increasingly engage in the R&D of personalized/precision medicine, targeted therapeutics, and vaccines. This has also been helping companies providing neurogenomics solutions, as well as academic and research institutes, to conduct more studies to map and identify variants and the mechanism of various rare and genetic diseases in neurology.
The pharmaceutical industry is increasingly investing in genomic data-sharing initiatives to accelerate the R&D of novel personalized therapies. Research and academic institutes are conducting various genomic studies and collaborating with key pharmaceutical companies to exchange genomic data and find personalized therapies for various rare and genetic diseases.
Increasing Prevalence of Neurological Disorders: A Significant Driver in the China Neurogenomics Market
China accounts for approximately 17% of the global disease burden related to neurological, mental, and substance use disorders. The country is rapidly undergoing a societal change, facing challenges in reducing the disease burden of psychiatric disorders. The rising cases of neurological disorders pose a high burden on the country's healthcare system, further boosting the demand for advanced diagnostic solutions. For instance, China has a high incidence of brain stroke worldwide. According to the Global Burden of Disease Study 2019, there were 3.94 million new stroke cases, 28.76 million prevalent stroke cases, and 2.19 million deaths due to stroke in China in 2019 (Source: Data Management and Sharing System of the China National Clinical Research Center for Neurological Diseases).
Furthermore, the incidence of Alzheimer's disease is adding to the growing burden of neurological diseases in the country. According to a recent national cross-sectional study, China has 15.07 million individuals aged 60 years and over with dementia, which includes 9.83 million individuals with Alzheimer's disease, 3.92 million individuals with vascular dementia, and nearly 1.32 million individuals with other forms of dementia. Additionally, the prevalence of Mild Cognitive Impairment (MCI) in individuals over 60 years of age is 15.5%, with 38.77 million individuals affected by the condition (Source: The China Alzheimer Report 2022). This steady increase in the prevalence of neurological disorders is expected to boost the demand for advanced clinical and research solutions in the country.
Increasing Adoption of Targeted Therapies
Targeted therapies are increasingly adopted in neurogenomics studies for several factors, such as their ability to target specific cells, the increasing number of targeted therapies being approved by the FDA, and their efficacy and safety. Also, targeted therapies in neurogenomics can restrict the disease progression in the early phases. NGS has a major application in cancer diagnosis and targeted therapy based on biomarkers. The use of targeted therapy is expected to boost the growth of the market for neurogenomics solutions in the future.
China Neurogenomics Market Analysis: Key Segmental Findings
- By offering: In terms of value, in 2024, the next-generation sequencing (NGS) segment is expected to account for the largest share of 72.5% of the China Neurogenomics Market. The segment's large market share can be attributed to the increasing demand for consumables due to the growing number of neurogenomic tests, recurring purchases of consumables over instruments, and the increasing prevalence of neurological diseases.
- By Application: The sequencing is expected to register the highest CAGR of 21.2% during the forecast period 2024-2031. The high growth of this segment is due to the rising demand for personalized medicine, the increasing demand for technologically advanced research solutions among end users for developing treatments for neurological conditions, and research studies for the identification of specific gene mutations in complex neurological diseases such as Parkinson's disease and Alzheimer's disease.
Have specific research needs? Request a customized research report - https://www.meticulousresearch.com/request-customization/cp_id=6003
China Neurogenomics Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios, geographic presence, and key growth strategies adopted over the past three to four years. Major companies in the China neurogenomics market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the China Neurogenomics Market were product launches, expansions, agreements, collaborations, and partnerships. The key players operating in the China Neurogenomics Market include Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Revvity, Inc. (U.S.), Pacific Biosciences of California Inc. (U.S.), Danaher Corporation (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and MGI Tech Co., Ltd. (China).
The report provides a competitive dashboard that summarizes the market positionings of the 21 market players in four quadrants, namely industry leaders, differentiators, emerging companies, and vanguards. These companies are positioned based on various parameters, including revenue, depth of offerings, brand equity, geographic presence, innovation, and organic & inorganic growth strategies. Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), and MGI Tech Co Ltd. (China) were positioned in the industry leader's quadrant.
China Neurogenomics Industry Overview: Latest Strategic Developments from Key Industry Players
- In June 2024, QIAGEN N.V. (Netherlands) launched an updated version of its clinical decision support software, QIAGEN Clinical Insight Interpret (QCI Interpret). This new version offers improved scalability and performance, specifically designed to meet the needs of high-throughput NGS laboratories.
- In May 2024, QIAGEN N.V. (Netherlands) launched the QIAseq Multimodal DNA/RNA Library Kit. This new kit facilitates the preparation of RNA and DNA libraries for next-generation sequencing (NGS), which encompasses both whole transcriptome sequencing (WTS) and whole genome sequencing (WGS).
- In February 2024, Pacific Biosciences Inc. (U.S.) launched HiFi Prep Kit 96 and HiFi Plex Prep Kit 96 Library Preparation Solutions. These kits include 384 validated barcode adapters. They offer automated, scalable, and high-performance library preparation solutions with 40% lower costs and 60% reduced workflow time.
- In January 2024, Illumina, Inc. (U.S.) partnered with Haplox, officially known as Shenzhen Hipros Biotechnology Co., Ltd (China), to develop and launch the NextSeq 2000 Dx CN-HAP, the first benchtop genetic sequencing technology of its kind.
- In October 2023, Thermo Fisher Scientific, Inc. (U.S.) expanded its manufacturing capacity in St. Louis to enhance support for biological therapies targeting a range of diseases, including cancer, autoimmune conditions, and rare genetic disorders.
- In July 2023, Illumina launched DRAGEN 4.2 software, designed for analyzing next-generation sequencing data. This software enhances efficiency and accuracy while offering increased flexibility and scalability.
- In April 2023, Agilent Technologies, Inc. (U.S.) launched the Agilent SureSelect Cancer CGP Assay, designed for comprehensive somatic variant profiling across a wide array of solid tumor types. The assay is based on an NGS panel that includes 679 genes curated from cancer databases and in collaboration with leading clinical cancer researchers.
- In June 2022, PerkinElmer, Inc. (U.S.) launched new library preparation kits: the NEXTFLEX Small RNA-Seq Kit v4, NEXTFLEX Rapid XP V2 DNA-Seq Kit, and PG-Seq Rapid Kit v2. These kits are engineered to enhance scientific outcomes and reduce the time required for quantification and pooling preparation for sequencing by up to 3 hours per 96 samples.
- In March 2022, Thermo Fisher Scientific, Inc. (U.S.) launched the Ion Torrent Genexus Dx Integrated Sequencer, an automated next-generation sequencing (NGS) platform capable of delivering results within a single day. This device is tailored for clinical laboratory use, enabling both diagnostic testing and clinical research to be conducted on a single instrument.
- In December 2021, F. Hoffmann-La Roche Ltd (Switzerland) launched the Avenio Tumor Tissue Comprehensive Genomic Profiling Kit (for research purposes only), which complements the comprehensive genomic profiling (CGP) portfolio offered by Roche and Foundation Medicine (U.S.).
- In August 2021, Agilent Technologies, Inc. (U.S.) established a manufacturing facility in China for its SureSelect portfolio. This facility aims to shorten the time from design to customer delivery, enable rapid development and iteration on custom panel optimization, and expedite supply for routine sequencing applications.
IMMEDIATE DELIVERY AVAILABLE | BUY THIS RESEARCH REPORT (Insights, Charts, Tables, Figures and More) - https://www.meticulousresearch.com/Checkout/89039050
Scope of the Report:
China Neurogenomics Market Assessment-by Offering
- Next-generation Sequencing
- Systems
- Kits & Reagents
- DNA Extraction and Amplification Kits & Reagents
- Library Preparation & Target Enrichment Kits & Reagents
- Quality Control Kits & Reagents
- Other Kits & Reagents
- Polymerase Chain Reaction (PCR)
- Systems
- Kits & Reagents
- Microarray
- Readers & Scanners
- Kits & Reagents
- DNA & RNA Microarray Kits & Reagents
- Protein Microarray Kits & Reagents
- Tissue Microarray Kits & Reagents
- Software & Services
China Neurogenomics MarketAssessment-by Application
- Research Applications
- Target identification
- Functional Studies
- Variant Discovery
- Transcription Factor Binding Analysis
- Clinical Applications
China Neurogenomics Market Assessment-by End User
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Hospitals & Diagnostic Laboratories
China Neurogenomics Market Research Summary -
Particulars | Details |
Number of Pages | 140 |
Format | |
Forecast Period | 2024-2031 |
Base Year | 2023 |
CAGR (Value) | 19.4 % |
Market Size (Value) | $562.1 Million by 2031 |
Segments Covered | By Offering Next-generation Sequencing Systems Kits & Reagents DNA Extraction and Amplification Kits & Reagents Library Preparation and Target Enrichment Kits & Reagents Quality Control Kits & Reagents Other NGS Kits & Reagents Polymerase Chain Reaction (PCR) Systems Kits & Reagents Microarray Readers & Scanners Kits & Reagents DNA and RNA Microarray Kits & Reagents Protein Microarray Kits & Reagents Tissue Microarray Kits & Reagents Software & Services By Application Research Applications Target identification Functional Studies Variant Discovery Transcription Factor Binding Analysis Clinical Applications By End User Pharmaceutical & Biotechnology Companies Academic & Research Institutes Hospitals & Diagnostic Laboratories |
Key Companies Profiled | Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Revvity, Inc. (U.S.), Pacific Biosciences of California Inc. (U.S.), Danaher Corporation (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and MGI Tech Co., Ltd. (China) |
Hot Industry Reports: Emerging Trends and Market Forecasts -
Smart Water Management Market Size, Industry, & Trends 2030 -
https://www.meticulousresearch.com/product/smart-water-management-market-5198
North America Electric Car Market by Size, Share, Forecasts, & Trends Analysis - https://www.meticulousresearch.com/product/north-america-electric-car-market-5216
North America EV Battery Market Trends & Forecasts to 2031 -
https://www.meticulousresearch.com/product/north-america-ev-battery-market-5219
Smart Transportation Market Size, Share & Trends to 2031 -
https://www.meticulousresearch.com/product/smart-transportation-market-5199
Europe EV Battery Market by Size, Share, Forecasts, & Trends Analysis -
https://www.meticulousresearch.com/product/europe-ev-battery-market-5221
North America EV Charging Stations Market by Size, Share, Forecasts, & Trends Analysis - https://www.meticulousresearch.com/product/north-america-electric-vehicle-charging-stations-market-5222
Contact:
Mr. Khushal Bombe
Meticulous Market Research Pvt.Ltd.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe: +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/1235/china-neurogenomics-market
Photo: https://mma.prnewswire.com/media/2516780/Neurogenomics_METICULOUS.jpg
Logo: https://mma.prnewswire.com/media/1757980/Meticulous_Research_Logo_1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/china-neurogenomics-market-to-reach-562-1-million-by-2031---exclusive-report-by-meticulous-research-302263840.html
