Neurogenomics Market Trends Analysis and Global Forecasts Report 2024-2031: Emerging Markets and Increased Awareness Create Opportunities, Declining Sequencing Costs Boost Adoption - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Neurogenomics Market Size, Share, Forecast, & Trends Analysis by Offering Application End User - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.

The neurogenomics market is projected to reach $4.68 billion by 2031 at a CAGR of 16.6% from 2024 to 2031.

The growth of the neurogenomics market is driven by the declining costs of sequencing, the increasing prevalence of neurological disorders, the growing 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 the early detection & prevention of neurological disorders, 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, and the high capital investments required for sequencing setups are major challenges impacting the growth of the neurogenomics market.

The report includes a competitive landscape based on an extensive assessment of the product portfolios, geographic presence, and key strategic developments of leading market players during the four years (2021-2024). The key players operating in the 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 the offerings studied in this report, in 2024, the Next-generation Sequencing (NGS) segment is expected to account for the largest share of 63.9% of the neurogenomics market.

The large share of this segment is attributed to the rising demand for next-generation sequencing solutions from end users, the recurring use of sample preparation consumables in neurological research, the increasing affordability of NGS, and the growth in genomic studies.

Among the applications studied in this report, in 2024, the research segment is expected to account for the larger share of 61.6% of the neurogenomics market.

The large share of this segment is attributed to the decreasing costs of advanced solutions used in neurogenomics, increasing R&D efforts of pharmaceutical and biotechnology companies for advancing precision medicine & 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 the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of 44.6% of the neurogenomics market.

The large market share of this segment is attributed to pharmaceutical & biotechnology companies' increasing R&D spending and the rising incidence of neurological diseases, which drives the adoption of advanced products among pharmaceutical & biotechnology companies.

Market Insights

Factors Affecting Market Growth

Pricing Analysis

Technology Trends

• Development of Portable Sequencing Technologies

Regulatory Analysis

• Neurogenomics Instruments & Consumables
• North America
• U.S.
• Canada
• Europe
• Asia-Pacific
• China
• Japan
• India
• Latin America
• Middle East
• Neurogenomics Software

Porter's Five Forces Analysis

Companies Featured

• 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.)
• MGI Tech Co. Ltd. (China)

Scope of the Report:

Neurogenomics Market Assessment - by Offering

• Next-generation Sequencing
• Systems
• Kits & Reagents
• DNA Extraction & Amplification Kits & Reagents
• Library Preparation & Target Enrichment Kits & Reagents
• Quality Control Kits & Reagents
• Other Kits & Reagents
• Polymerase Chain Reaction (PCR)
• Systems
• Kits & Reagents
• Microarray
• Readers & Scanners
• Kits & Reagents
• DNA & RNA Microarray Kits & Reagents
• Protein Microarray Kits & Reagents
• Tissue Microarray Kits & Reagents
• Software & Services

Neurogenomics Market Assessment - by Application

• Research Applications
• Target Identification
• Functional Studies
• Variant Discovery
• Transcription Factor Binding Analysis
• Clinical Applications

Neurogenomics Market Assessment - by End User

• Pharmaceutical & Biotechnology Companies
• Academic & Research Institutes
• Hospitals & Diagnostic Laboratories

Neurogenomics Market Assessment - by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• Italy
• U.K.
• Spain
• Rest of Europe (RoE)
• Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/97rpl

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.