Meticulous Research® has published an extensive research report titled “Neurogenomics Market—Global Opportunity Analysis & Industry Forecast to 2031.” As outlined in this publication, the neurogenomics market is expected to achieve a value of $4.68 Billion by 2031 , reflecting a CAGR of 16.6% from 2024 to 2031 .

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Several key factors are driving the growth of the neurogenomics market, including the reduction in sequencing costs , the increasing prevalence of neurological disorders , and the rising adoption of advanced sequencing technologies in diagnostics and precision medicine . Moreover, rising pharmaceutical R&D investments , improvements in regulatory and reimbursement frameworks for gene sequencing, increased healthcare spending , greater funding for research activities , and the growing demand for early detection and prevention of neurological disorders all contribute to this growth. Technological advancements in neurogenomics products and government initiatives promoting sequencing applications in clinical and research settings further support market expansion.

However, there are significant challenges to market growth, including the high costs associated with neurogenomics products, low potential for identifying actionable mutations for precision medicine, and ethical and legal issues concerning sequencing-based diagnostics.

Additionally, the increasing adoption of targeted therapies , growth in emerging economies , and rising awareness of neurological disorders offer substantial opportunities for market stakeholders. Conversely, challenges such as the dynamic regulatory landscape , limited expertise and sequencing capabilities of smaller laboratories, a shortage of qualified sequencing professionals , and substantial capital investments needed for sequencing setups pose risks to market expansion.

Key Players

The neurogenomics market is characterized by moderate competition, comprising a variety of large and small regional and local players. Key players include:

• 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)

The market can be segmented based on offerings , applications , end users , and geographic regions .

Offerings

Among the offerings evaluated in this report, the next-generation sequencing (NGS) segment is projected to hold a dominant position, with a 63.9% market share in 2024 . This segment's dominance is largely driven by the high prevalence of neurological disorders , rising healthcare costs , and substantial initiatives focused on improving diagnostic and treatment methods through NGS.

Applications

In the applications category, the research applications segment is expected to capture a leading position with a 61.6% market share in 2024 . The swift integration of advanced solutions like next-generation sequencing (NGS) , PCR , and microarrays in academic and research institutions, along with significant investments in genomics research and the growing demand for personalized medicine , drive this segment's growth.

End Users

Among the end users assessed, the pharmaceutical and biotechnology companies segment is projected to maintain a dominant position with a 44.6% market share in 2024 . Increased R&D expenditures by pharmaceutical and biotechnology firms facilitate the adoption of advanced solutions like next-generation sequencing , microarrays , and PCR technologies , while the high prevalence of neurological disorders contributes to this segment's success.

Geography

Geographically, North America is projected to dominate the market, holding an estimated 47.2% market share in 2024 . This growth is primarily driven by rising R&D expenditures in the pharmaceutical and biotechnology sectors, the presence of key market players, supportive government initiatives for genomics research, expanding applications of sequencing in research, a growing prevalence of neurological diseases, and a favorable reimbursement landscape .

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/neurogenomics-market-6019

Key Questions Answered in the Report:

• What is the revenue generated from the neurogenomics market globally, based on offering, application, and end user?
• At what rate is the demand for neurogenomics solutions projected to grow globally for the next five to seven years?
• What are the historical market size and growth rate for the neurogenomics market?
• What are the major factors impacting the growth of this market?
• What are the major opportunities for existing players and new entrants in the market?
• Which offering, application, and end-user segments are expected to create major traction for the players in this market?
• Who are the major players in the neurogenomics market? What are their specific product offerings in this market?
• What are the recent developments in the neurogenomics market? What are the impacts of these strategic developments?

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