Neurogenetic Testing Global Market Report 2024

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 an increased prevalence of neurological disease cases, increased research in the life science domain, the rising 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, the rise in chronic diseases, an increased number of hospitals, a growing number of diagnostic laboratories, and a growing demand for early disease detection. Major trends in this period include technological advancements, greater adoption of non-invasive testing methods, new product development, strategic collaborations, and the emergence of novel biomarkers for neurological conditions.

The increase in neurological disorders is expected to drive the growth of the neurogenetic testing market. Neurological disorders encompass conditions affecting the nervous system, including the brain, spinal cord, and nerves. These disorders can arise from genetic predisposition, infections, trauma, toxins, autoimmune responses, or degeneration. Neurogenetic testing plays a crucial role in enhancing the diagnosis, treatment, and management of neurological disorders. It provides personalized insights into genetic risk factors, guides treatment decisions, and empowers patients and families to make informed healthcare choices, thereby improving patient care and outcomes. For example, as reported by the European Brain Council in April 2022, millions globally suffer from over 600 neurological diseases and nearly 300 psychiatric conditions, including 65 million with epilepsy. In Europe, 10.5 million people have dementia, with projections indicating a rise to 18.7 million by 2050. Hence, the increasing prevalence of neurological disorders is expected to fuel the growth of the neurogenetic testing market.

The rising prevalence of cancer is also expected to boost the neurogenetic testing market. Cancer, characterized by uncontrolled cell division and tissue destruction, is on the rise due to factors such as the obesity epidemic, inherited genetic abnormalities, and viral infections such as hepatitis B and C, Epstein-Barr virus (EBV), and human papillomavirus (HPV). Neurogenetic testing is crucial for cancer management as it aids in selecting the most effective treatment, assessing prognoses, identifying high-risk patients, and providing personalized care based on individual genetic profiles and family history. For instance, the American Society of Clinical Oncology reported in May 2024 that an estimated 20 million new cancer cases were identified in 2022, with projections of 35 million new cases globally by 2050, leading to 9.7 million deaths from the disease. Consequently, the increasing prevalence of cancer is propelling the growth of the neurogenetic testing market.

Major companies are focusing on developing innovative products such as whole-genome sequencing to improve genetic analysis accuracy and scope. Whole-genome sequencing (WGS) is a comprehensive genetic testing method that involves determining an individual's entire genome DNA sequence. For instance, Nucleus Genomics, a US-based company specializing in genetic analysis, launched a DNA analysis product in March 2024. This platform provides people with a deeper understanding of their genetic predispositions, enabling informed decisions about health and well-being. Nucleus Genomics aims to redefine genetic testing by offering cutting-edge technology and expert genetic counseling services, making whole-genome sequencing accessible and revolutionizing genomic medicine.

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.

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.

The countries covered in the neurogenetic testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Neurogenetic testing is a form of genetic testing that focuses on identifying genetic variations linked to neurological disorders or conditions impacting the nervous system. It aids in diagnosis, prediction, and management of neurological disorders, supports research, and helps develop personalized treatment strategies in neurology and genetics.

The main types of neurogenetic testing in the market include microarray analysis, whole-exome sequencing (WES), multiplex ligation-dependent probe amplification (MLPA), polymerase chain reaction (PCR) tests, and others. Microarray analysis is a technique in neurogenetic testing that simultaneously assesses the expression levels of thousands of genes. These tests are used for various diseases such as rare genetic disorders, cancer, cystic fibrosis, sickle cell anemia, Duchenne muscular dystrophy, thalassemia, Huntington’s disease, fragile X syndrome, and others. They are utilized by hospitals, specialty clinics, research institutes, and diagnostics laboratories.

The neurogenetic testing market research report is one of a series of new reports that provides neurogenetic testing market statistics, including neurogenetic testing industry global market size, regional shares, competitors with a neurogenetic testing market share, detailed neurogenetic testing market segments, market trends, and opportunities, and any further data you may need to thrive in the neurogenetic testing industry. This neurogenetic testing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The neurogenetic testing market includes revenues earned by entities by providing services such as diagnostic testing, predictive testing, carrier screening, and prenatal testing and related products such as genetic testing kits, DNA sequencing platforms, and bioinformatics software. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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