Neurogenetic Testing Market Poised for 13.5 % Growth, Set to Hit $21 Billion by 2029

How Is the Neurogenetic Testing Market Projected to Grow, and What Is Its Market Size?
The market size for neurogenetic testing has expanded considerably in the last few years. Its expansion will continue, with an increase from $0.61 billion in 2024 to $0.7 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.9%. Factors contributing to the growth during the historic period include a surge in neurological disease cases, more intensive research in the life science sector, a rise in the occurrence of Parkinson's disease and cancer cases, and heightened awareness among healthcare practitioners.

The neurogenetic testing market is anticipated to experience significant expansion in the upcoming years, predicted to reach $1.16 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%. This surge during the forecast period is due in part to a variety of factors including the broadening scope of applications in personalized medicine, an escalating prevalence of chronic ailments, a rising number of hospitals and diagnostic labs, and an increased interest in early disease identification. Key foreseeable trends for this period include advancements in technology, increased acceptance of non-invasive testing procedures, innovations in product development, strategic partnerships, and the introduction of new biomarkers for neurological disorders.

What Are the Forces Behind the Rapid Growth of the Neurogenetic Testing Market?
The neurogenetic testing market's growth is anticipated to be fueled by the increasing occurrence of neurological disorders. These disorders, defining any condition impacting the nervous system including the brain, spinal cord, and nerves, proliferate due to genetic predisposition, infections, trauma, toxins, autoimmune responses, and degeneration. Neurogenetic testing plays a crucial role in improving the detection, therapy, and management of neurological disorders by providing tailored insights into genetic risk factors, guiding therapeutic choices, and allowing individuals and families to make knowledgeable healthcare decisions, thus enhancing patient care and outcomes. As an illustration, the European Brain Council, a non-profit organization based in Belgium, reported in April 2022 that over 600 neurological diseases and approximately 300 psychiatric conditions globally affect millions, including 65 million suffering from epilepsy. In Europe, there are 10.5 million dementia patients, with forecasts showing an increase to 18.7 million by 2050. Consequently, the growing incidence of neurological disorders is predicted to stimulate the neurogenetic testing market's expansion.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16131&type=smp

Who Are the Major Industry Players Fueling Neurogenetic Testing Market Expansion?
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

Which Key Developments Are Influencing the Neurogenetic Testing Market?
Premier enterprises in the neurogenetic testing market are introducing inventive products like whole-genome sequencing to elevate the precision and breadth of genetic analysis. This enables a more exhaustive and tailored testing process for neurological conditions. Whole-genome sequencing (WGS) is an extensive method of genetic testing that dedicates to finding the entire DNA sequence of a person's full genome. For example, Nucleus Genomics, a company based in the US and specializes in genetic analysis, unveiled a DNA analysis product in March 2024. This platform equips individuals with a more in-depth insight into their genetic tendencies, helping them to make informed decisions about their health and wellness. By employing state-of-the-art technology and professional genetic consulting services, Nucleus Genomics is geared to transform the sphere of genetic testing comprehensively. The power of whole-genome sequencing is now made easily accessible to individuals, which is seen as a significant revolution in the area of genomic medicine.

How Is the Segmentation of the Neurogenetic Testing Market Defined?
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

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/neurogenetic-testing-global-market-report

What Is the Leading Region in 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.

What Is Covered In The Neurogenetic Testing Global Market Report?

- Market Size Analysis: Analyze the Neurogenetic Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Neurogenetic Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Neurogenetic Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Neurogenetic Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16131

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.