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Redding, California - October 30, 2024

China Neurogenomics Market to Reach $562.1 Million by 2031

China Neurogenomics Market Size, Share, Forecast, & Trends Analysis by Offering (NGS [Kits {Library Prep, QC, DNA Extraction}, Systems], PCR, Microarrays [Protein, DNA, RNA, Tissue], Software), Application (Research, Clinical), End User - Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘China Neurogenomics Market—Opportunity Analysis & Industry Forecasts to 2031’. According to this latest publication from Meticulous Research^®, the China neurogenomics market is expected to reach $562.1 million by 2031, at a CAGR of 19.4% from 2024 to 2031.

Reducing sequencing costs, the rising prevalence of neurological conditions, the increasing use of advanced sequencing technologies in disease diagnostics & precision medicine, growing pharmaceutical R&D spending, improving regulatory & reimbursement scenarios for gene sequencing, growing healthcare spending, increasing research funding, the rising need to promptly detect & prevent neurological diseases, advances in neurogenomics products, and government initiatives encouraging the utilization of sequencing in clinical & research applications are factors driving the growth of the China neurogenomics market. However, market growth is restrained by the high costs of neurogenomics products, low chances for the identification of positive actionable mutations for precision medicine, and legal and ethical issues related to sequencing-based diagnoses.

In addition, the growing adoption of targeted therapies, emerging countries, and growing awareness about neurological conditions are expected to generate growth opportunities for market players. However, the changing regulatory landscape, the limited sequencing capabilities & expertise of small & medium-sized labs, the lack of sequencing professionals in the country, and the high capital investment requirements of sequencing setups are prominent challenges impacting the growth of the China neurogenomics market.

Key Players:

The China neurogenomics market is moderately competitive due to the presence of many large and small-sized global, regional, and local players. 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). The China neurogenomics market is segmented based on offering, application, and end user.

Among the offerings studied in this report, in 2024, the Next-generation Sequencing (NGS) segment is anticipated to dominate the China neurogenomics market, with a share of 64.1%. The high prevalence of neurological disorders, large-scale initiatives to advance diagnosis and treatment approaches using NGS, and rising healthcare expenditures are factors contributing to the segment’s dominant position in the China neurogenomics market. Moreover, this segment is also expected to witness the fastest growth during the forecast period.

Among the applications studied in this report, in 2024, the research applications segment is anticipated to dominate the China neurogenomics market, with a share of 61.4%. High investments in genomics research, rapid adoption of advanced solutions, including NGS, PCR, and microarrays among academic & research institutes, and the growing demand for personalized medicine are factors contributing to the segment’s dominant position in the China neurogenomics market. Moreover, this segment is also expected to witness the fastest growth during the forecast period.

Among the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is anticipated to dominate the China neurogenomics market, with a share of 44.5%. High R&D spending of pharmaceutical & biotechnology companies, which drives the adoption of advanced solutions such as next-generation sequencing solutions, microarrays, and PCR solutions, and the high incidence of neurological disorders are factors contributing to the segment’s dominant position in the China neurogenomics market. However, the academic & research institutes segment is expected to witness the fastest growth during the forecast period.

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Key Questions Answered in the Report:

What is the revenue generated from the sales of neurogenomics solutions in China?
At what rate is the demand for neurogenomics solutions projected to grow in China for the next five to seven years?
What are the historical market size and growth rate for the China 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 China neurogenomics market? What are their specific product offerings in this market?
What are the recent developments in the China neurogenomics market? What are the impacts of these strategic developments?

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Redding, California - October 30, 2024

China Neurogenomics Market to Reach $562.1 Million by 2031

China Neurogenomics Market Size, Share, Forecast, & Trends Analysis by Offering (NGS [Kits {Library Prep, QC, DNA Extraction}, Systems], PCR, Microarrays [Protein, DNA, RNA, Tissue], Software), Application (Research, Clinical), End User - Forecast to 2031

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