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Neurogenetic Testing Market Insights 2024: Emerging Technologies and Global Expansion

Neurogenetic Testing Market Insights

Neurogenetic Testing Market Insights

"The Business Research Company recently released a comprehensive report on the Global Neurogenetic Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 growth in the historic period can be attributed to increased prevalence of neurological disease cases, increase research in life science domain, increasing prevalence of parkinson's disease, increased cases of cancer, and rising awareness among healthcare professionals.

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%. The growth in the forecast period can be attributed to expanding applications in personalized medicine, rise in chronic diseases, increased number of hospitals, increased number of diagnostic laboratories and growing demand for early disease detection. Major trends in the forecast period include technological advancement, greater adoption of non-invasive testing methods, new product development, strategic collaborations, and the emergence of novel biomarkers for neurological conditions.

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Market Drivers and Trends:

The rising cases of cardiovascular diseases are expected to propel the growth of the nuclear medicine radioisotope market going forward. Cardiovascular diseases refer to a group of diseases that affect the heart and blood vessels. The rising cases of cardiovascular diseases are due to sedentary lifestyles, poor dietary habits, increasing rates of obesity, and aging populations. The nuclear medicine radioisotopes are invaluable in diagnosing, evaluating, and managing cardiovascular diseases with detailed insights into cardiac function, perfusion, and tissue viability, which are essential for accurate diagnosis and effective treatment planning. For instance, in May 2022, according to the Centers for Disease Control and Prevention, a US-based governmental organization, the prevalence of coronary heart disease among adults aged 18 and over stood at 4.6% in 2020, experiencing a slight uptick to 4.9% in 2021. Therefore, the rising cases of cardiovascular diseases are driving the growth of the nuclear medicine radioisotope 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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

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

Neurogenetic Testing Market 2024 Key Insights:

• 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%.
• Rising Prevalence Of Neurological Disorders Fuels Demand For Neurogenetic Testing
• Innovative Products Driving Growth In The Neurogenetic Testing Market
• North America was the largest region in the neurogenetic testing market in 2023

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Contact Us:
The Business Research Company
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Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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