China Neurogenomics Market to Reach $562.1 Million by 2031 - Exclusive Report by Meticulous Research®

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The growth of this 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 diseases, 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 expected to restrain the growth of this market.

The increasing adoption of targeted therapies, emerging economies, and rising awareness regarding neurological disorders are expected to create market growth opportunities. Moreover, 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 prominent trends in the China Neurogenomics Market.

Declining Cost of Sequencing is Driving the Market Growth

Various pharmaceutical and biotechnology companies have been focusing on genomic research since 2003. This has led to the emergence of the full sequence of the entire human genome. Additionally, rising funding for genomic research activities, the development of advanced sequencing technologies and bioinformatics tools, and the reduced cost of genomic studies provide great opportunities for companies to increasingly engage in the R&D of personalized/precision medicine, targeted therapeutics, and vaccines. This has also been helping companies providing neurogenomics solutions, as well as academic and research institutes, to conduct more studies to map and identify variants and the mechanism of various rare and genetic diseases in neurology.

The pharmaceutical industry is increasingly investing in genomic data-sharing initiatives to accelerate the R&D of novel personalized therapies. Research and academic institutes are conducting various genomic studies and collaborating with key pharmaceutical companies to exchange genomic data and find personalized therapies for various rare and genetic diseases.

Increasing Prevalence of Neurological Disorders: A Significant Driver in the China Neurogenomics Market

China accounts for approximately 17% of the global disease burden related to neurological, mental, and substance use disorders. The country is rapidly undergoing a societal change, facing challenges in reducing the disease burden of psychiatric disorders. The rising cases of neurological disorders pose a high burden on the country's healthcare system, further boosting the demand for advanced diagnostic solutions. For instance, China has a high incidence of brain stroke worldwide. According to the Global Burden of Disease Study 2019, there were 3.94 million new stroke cases, 28.76 million prevalent stroke cases, and 2.19 million deaths due to stroke in China in 2019 (Source: Data Management and Sharing System of the China National Clinical Research Center for Neurological Diseases).

Furthermore, the incidence of Alzheimer's disease is adding to the growing burden of neurological diseases in the country. According to a recent national cross-sectional study, China has 15.07 million individuals aged 60 years and over with dementia, which includes 9.83 million individuals with Alzheimer's disease, 3.92 million individuals with vascular dementia, and nearly 1.32 million individuals with other forms of dementia. Additionally, the prevalence of Mild Cognitive Impairment (MCI) in individuals over 60 years of age is 15.5%, with 38.77 million individuals affected by the condition (Source: The China Alzheimer Report 2022). This steady increase in the prevalence of neurological disorders is expected to boost the demand for advanced clinical and research solutions in the country.

Increasing Adoption of Targeted Therapies

Targeted therapies are increasingly adopted in neurogenomics studies for several factors, such as their ability to target specific cells, the increasing number of targeted therapies being approved by the FDA, and their efficacy and safety. Also, targeted therapies in neurogenomics can restrict the disease progression in the early phases. NGS has a major application in cancer diagnosis and targeted therapy based on biomarkers. The use of targeted therapy is expected to boost the growth of the market for neurogenomics solutions in the future.

China Neurogenomics Market Analysis: Key Segmental Findings

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China Neurogenomics Market: Competition Analysis

This report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios, geographic presence, and key growth strategies adopted over the past three to four years. Major companies in the China neurogenomics market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the China Neurogenomics Market were product launches, expansions, agreements, collaborations, and partnerships. The key players operating in the China Neurogenomics Market 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.), and MGI Tech Co., Ltd. (China).

The report provides a competitive dashboard that summarizes the market positionings of the 21 market players in four quadrants, namely industry leaders, differentiators, emerging companies, and vanguards. These companies are positioned based on various parameters, including revenue, depth of offerings, brand equity, geographic presence, innovation, and organic & inorganic growth strategies. Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), and MGI Tech Co Ltd. (China) were positioned in the industry leader's quadrant.

China Neurogenomics Industry Overview: Latest Strategic Developments from Key Industry Players

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Scope of the Report:

China Neurogenomics Market Assessment—by Offering

China Neurogenomics MarketAssessment—by Application

China Neurogenomics Market Assessment—by End User

China Neurogenomics Market Research Summary – 

Systems

Kits & Reagents

DNA Extraction and Amplification Kits & Reagents

Library Preparation and Target Enrichment Kits & Reagents

Quality Control Kits & Reagents

Other NGS Kits & Reagents

Polymerase Chain Reaction (PCR)

Systems

Kits & Reagents

Microarray

Readers & Scanners

Kits & Reagents

DNA and RNA Microarray Kits & Reagents

Protein Microarray Kits & Reagents

Tissue Microarray Kits & Reagents

Software & Services

By Application

Research Applications

Target identification

Functional Studies

Variant Discovery

Transcription Factor Binding Analysis

Clinical Applications

By End User

Pharmaceutical & Biotechnology Companies

Academic & Research Institutes

Hospitals & Diagnostic Laboratories

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