Decoding Brain Mysteries: Neurogenetic Testing Market Explores Advanced Diagnostics, Market Segments, Driving Factors, and Competitive Insights for Unprecedented Growth

The new report published by The Business Research Company, titled "Neurogenetic Testing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the neurogenetic testing market size has grown rapidly in recent years. It will grow from $0.54 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The neurogenetic testing market size is expected to see rapid growth in the next few years. It will grow to $1.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%.

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Rising Prevalence Of Neurological Disorders Fuels Demand For Neurogenetic Testing
The rising prevalence of neurological disorders is expected to propel the growth of the neurogenetic testing market. Neurological disorders refer to any conditions that affect the nervous system, which includes the brain, spinal cord, and nerves. The prevalence of neurological disorders are the cause of genetic predisposition, infections, trauma, toxins, autoimmune responses, and degeneration. Neurogenetic testing significantly enhances the diagnosis, treatment, and management of neurological disorders by offering personalized insights into genetic risk factors, guiding treatment decisions, and empowering individuals and families to make informed healthcare choices, thereby improving patient care and outcomes. For instance, in April 2022, according to the European Brain Council, a Belgium-based non-profit organization, over 600 neurological diseases and nearly 300 psychiatric conditions afflict millions globally, including 65 million with epilepsy. In Europe, 10.5 million people have dementia, with projections indicating a rise to 18.7 million by 2050. Therefore, the rising prevalence of neurological disorders is expected to drive the growth of the neurogenetic testing market.

Increasing Cancer Prevalence Fuels Growth in Neurogenetic Testing Market

The rising prevalence of cancer is expected to propel the growth of the neurogenetic testing market. Cancer refers to a disease in which abnormal cells divide uncontrollably and destroy body tissue. Cancer cases are increasing due to several factors, including the obesity epidemic, inherited genetic abnormalities, hepatitis B and C viruses, Epstein-Barr virus (EBV), and human papillomavirus (HPV). Neurogenetic testing is essential to the management of cancer, as it assists in choosing the most effective course of treatment, evaluates prognoses, identifies high-risk patients, and provides individualized care based on the particular genetic profile and family history of each patient. For instance, in May 2024, according to the American Society of Clinical Oncology, a US-based professional organization, an estimated 20 million new cases of cancer were found in 2022, and by 2050, there would be 35 million new cases globally, accounting for 9.7 million deaths from the disease. Therefore, the rising prevalence of cancer is driving the growth of the neurogenetic testing market.

Innovative Products Driving Growth In The Neurogenetic Testing Market
Major companies operating in the neurogenetic testing market are developing innovative products, such as whole-genome sequencing, to enhance the accuracy and scope of genetic analysis, enabling more comprehensive and personalized testing for neurological disorders. Whole-genome sequencing (WGS) is a comprehensive genetic testing method that involves determining the complete DNA sequence of an individual's entire genome. For instance, in March 2024, Nucleus Genomics, a US-based company that provides genetic analysis, launched a DNA analysis product. Through this platform empower people with a deeper understanding of their genetic predispositions, facilitating informed decisions about their health and well-being. With cutting-edge technology and expert genetic counseling services, Nucleus Genomics is set to redefine the landscape of genetic testing, bringing the power of whole-genome sequencing directly into the hands of individuals and revolutionizing the field of genomic medicine.

The neurogenetic testing market covered in this report is segmented -

1) By Types: 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

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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

Contents of the report:
1. Executive Summary
2. Neurogenetic Testing Market Report Structure
3. Neurogenetic Testing Market Trends And Strategies
4. Neurogenetic Testing Market - Macro Economic Scenario
5. Neurogenetic Testing Market Size And Growth
…..
27. Neurogenetic Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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