According to the globalgenotyping market research reportby IMARC Group, the market reached a value of US$ 17.0 Billion in 2022, and it is projected to reach a value of US$ 39.0 Billion by 2028, exhibiting a CAGR of 14.2% during 2023-2028.
What are Genotyping?
Genotyping is an analytical procedure to examine deoxyribonucleic acid (DNA) sequences and genetic constitution in the genotypes of living organisms such as animals, microorganisms, humans, and plants. It allows scientists to examine a variety of genetic deviations, such as changes in single nucleotide polymorphisms (SNPs) and DNA, by discovering genetic differences through biological assays.
It also prevents the spread of pathogens by pinpointing the source of bacterial and viral diseases, avoids unnecessary checkups, provides superior accuracy, encourages informative treatment options, and is cost-effective, flexible, reliable, and simple. As a result, genotyping is widely adopted in academic institutes, diagnostics and research laboratories, and pharmaceutical and biopharmaceutical sectors across the globe.
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What Are The Growth Prospects And Trends In The Genotyping Industry?
The market is primarily driven by the expanding healthcare sector and the rising prevalence of genetic disorders and cancers. Besides this, the growing geriatric population susceptible to developing several medical conditions is also augmenting the market growth. In addition, the sudden outbreak of the coronavirus (COVID-19) disease has escalated the demand for genotyping kits, thus, contributing to the market growth.
Moreover, the incorporation of single nucleotide polymorphisms (SNPs) to detect and assist in the etiology of various human diseases, such as asthma, cancer, cardiovascular, and Alzheimers, represents another major growth-inducing factor. Besides this, the widespread adoption of bioinformatic solutions in data analysis and pharmacogenomics for drug discovery processes is providing a positive thrust to market growth. Furthermore, the rising awareness regarding personalized medicines among individuals and the extensive investments in research and development (RD) activities focusing on genomic drug development and precision medicine research is creating a favorable market outlook across the globe.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Product and Service:
- Instruments
- Reagents and Kits
- Software and Services
Breakup by Technology:
- Polymerase Chain Reaction (PCR)
- Capillary Electrophoresis
- Microarray
- Sequencing
- Mass Spectrometry
- Others
Breakup by Application:
- Pharmacogenomics
- Diagnostics and Personalized Medicine
- Agricultural Biotechnology
- Animal Genetics
- Others
Breakup by End User:
- Pharmaceutical and Biopharmaceutical Companies
- Diagnostics and Research Laboratories
- Academic Institutes
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Eurofins Scientific SE, F. Hoffmann-La Roche AG
- Illumina Inc.
- Laboratory Corporation of America Holdings
- Qiagen N.V
- Standard BioTools Inc.
- and Thermo Fisher Scientific Inc.
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