REDDING, Calif., Oct. 15, 2024 /PRNewswire/ -- According to a new market research report titled, '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-Global Forecast to 2031.
The neurogenomics market is expected to reach $4.68 billion by 2031, at a CAGR of 16.6% from 2024 to 2031.
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Neurogenomics is a multidisciplinary field that integrates genome sciences and neurobiology. It examines the genome's impact on the structure, evolution, development, and functionality of the nervous system. This research encompasses genetic analyses, including the assessment of genome sequencing outputs like proteomics and transcriptomics.
The growth of the neurogenomics 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 disorders, 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 factors restraining the growth of this market.
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In addition, the increasing adoption of targeted therapies, emerging economies, and rising awareness regarding neurological disorders are expected to generate growth opportunities for market stakeholders. However, the dynamic regulatory landscape, the limited expertise & sequencing capabilities of small & medium-sized laboratories, the shortage of sequencing professionals, and the high capital investments required for sequencing setups are major challenges impacting the growth of the neurogenomics market.
Key Players:
The major market players studied in this report are 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 neurogenomics market is segmented by offering (Next-generation Sequencing {Systems, Kits & Reagents [DNA Extraction & Amplification Kits & Reagents, Library Preparation & Target Enrichment Kits & Reagents, Quality Control Kits & Reagents, Other NGS Kits & Reagents]}, Polymerase Chain Reaction {Systems, Kits & Reagents}, Microarray {Readers & Scanners, Kits & Reagents [DNA & RNA Microarray Kits & Reagents, Protein Microarray Kits & Reagents, Tissue Microarray Kits & Reagents]}, Software & Services), Application (Research Applications {Target Identification, Transcription Factor Binding Analysis, Functional Studies, Variant Discovery}, Clinical Applications), and End User (Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes).
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Key Findings in the Neurogenomics Market Study:
By offering, the next-generation sequencing (NGS) segment is slated to register the highest CAGR of 19.6% during the forecast period. The growing demand for NGS consumables and instruments, the increasing adoption of NGS by pharmaceutical and biotechnology companies, and the high accuracy of NGS technology are anticipated to drive rapid growth in the segment.
By application, the research applications segment is slated to register a higher CAGR of 18.4% during the forecast period. The growing focus on treatments for neurological disorders, the rising demand for advanced research solutions, and the increasing need for biomarker discovery are expected to drive rapid growth in the segment.
By end user, the academic & research institutes segment is slated to register the highest CAGR of 17.9% during the forecast period. The rising incidence of neurological disorders, the expansion of research activities, and increased funding for academic and research projects are expected to drive rapid growth in the segment.
By geography, the Asia-Pacific segment is slated to register the highest CAGR of 17.9% during the forecast period. This growth is driven by the rising demand for advanced solutions, the increasing prevalence of neurological disorders, the expansion of medical tourism, and government initiatives that support precision medicine.
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Scope of the Report:
Global Neurogenomics Market Assessment-by Offering
Next-generation Sequencing
Systems
Kits & Reagents
DNA Extraction & Amplification Kits & Reagents
Library Preparation & 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 & RNA Microarray Kits & Reagents
Protein Microarray Kits & Reagents
Tissue Microarray Kits & Reagents
Software & Services
Global Neurogenomics Market Assessment-by Application
Research Applications
Target identification
Functional Studies
Variant Discovery
Transcription Factor Binding Analysis
Clinical Applications
Global Neurogenomics Market Assessment-by End User
Pharmaceutical & Biotechnology Companies
Academic & Research Institutes
Hospitals & Diagnostic Laboratories
Global Neurogenomics Market Assessment-by Geography
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Spain
Rest of Europe (RoE)
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific (RoAPAC)
Latin America
Middle East & Africa
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China Neurogenomics Market is expected to reach $562.1 million by 2031 from an estimated $162.1 million in 2024, at a CAGR of 19.4% during the forecast period from 2024 to 2031 - https://www.meticulousresearch.com/product/china-neurogenomics-market-6003
Neurogenomics Market Research Summary:
Particulars | Details |
Number of Pages | ~250 |
Format | |
Forecast Period | 2024-2031 |
Base Year | 2023 |
CAGR (Value) | 16.6 % |
Market Size (Value) | $4.68 Billion by 2031 |
Segments Covered | By Offering • Next-generation Sequencing o Systems o Kits & Reagents § DNA Extraction and Amplification Kits & Reagents § Library Preparation and Target Enrichment Kits & Reagents § Quality Control Kits & Reagents o Other NGS Kits & Reagents • Polymerase Chain Reaction (PCR) o Systems o Kits & Reagents • Microarray o Readers & Scanners o Kits & Reagents § DNA and RNA Microarray Kits & Reagents § Protein Microarray Kits & Reagents § Tissue Microarray Kits & Reagents • Software & Services By Application • Research Applications o Target identification o Functional Studies o Variant Discovery o Transcription Factor Binding Analysis • Clinical Applications By End User • Pharmaceutical & Biotechnology Companies • Academic & Research Institutes • Hospitals & Diagnostic Laboratories |
Countries Covered | North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America and Middle East & Africa |
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) |
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