China Neurogenomics Market Size, Share, Forecast, & Trends Analysis by Offering, PCR, Microarrays, Application, 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.

Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities.

The growth of the China neurogenomics market is driven by the declining costs of sequencing, the increasing prevalence of neurological disorders, the rising 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 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 factors restraining the growth of this market.

Furthermore, 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 in the country, and the high capital investments required for sequencing setups are major challenges impacting the growth of the China neurogenomics market.

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry in the past three to four years (2021-2024). The key players operating in the China neurogenomics market 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).

Among all offerings studied in this report, in 2024, the next-generation sequencing (NGS) segment is expected to hold a significant share of 64.1% of the China neurogenomics market. This segment's large share is attributed to the rising demand for next-generation sequencing solutions from end users, the recurring use of sample preparation consumables in neurological research, increasing affordability, and the rise in genomic studies in the country.

Among all the applications studied in this report, in 2024, the research applications segment is expected to dominate the China neurogenomics market with a 61.4% share. This large market share is attributed to the decreasing cost of advanced solutions used in neurogenomics, increasing R&D by pharmaceutical and biotechnology companies for precision medicine and drug discovery, and the use of informatics solutions to find pharmacological targets, confirm therapeutic hypotheses, and predict the potential safety of inhibitory compounds aimed at molecular targets.

Among all the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is anticipated to hold a dominant share of 44.5% of the China neurogenomics market. The large market share of this segment is attributed to the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of neurological diseases, which drive the adoption of advanced products among pharmaceutical & biotechnology companies.