Redding, California - September 16, 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 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’. 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.
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 diseases, technological advancements in neurogenomics products, and government initiatives promoting the use of sequencing in clinical & research applications are factors driving the growth of the China neurogenomics market. However, market growth is restrained by 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.
In addition, the increasing adoption of targeted therapies, emerging economies, and rising awareness regarding neurological disorders provide considerable potential opportunities for market players. 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.
Key Players:
The China Neurogenomics Market is characterized by a moderately competitive scenario 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. The report also evaluates industry competitors and analyzes the China neurogenomics market at the regional and country levels.
Among the offering 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 the diagnosis and treatment approach using NGS, and rising healthcare expenditures are factors contributing to the segment’s dominant position in the Chine neurogenomics market.
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, growing demand for personalized medicine are factors contributing to the segment’s dominant position in the China neurogenomics market.
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 among pharmaceutical & biotechnology companies in the country which drive 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.
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale 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 is the historical market size and growth rate for the China Neurogenomics Market?
- What are the major factors impacting the growth of this market in the country?
- What are the major opportunities for existing players and new entrants in the market?
- Which offering, application and end user segments create major traction for the manufacturers in this market?
- Who are the major players in the China Neurogenomics Market? What are their specific product offerings in this market?
- What recent developments have taken place in the China Neurogenomics Market? What impact have these strategic developments created on the market?
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