The global genotyping market size reached US$ 17.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 39.0 Billion by 2028, exhibiting a growth rate (CAGR) of 15.60% during 2023-2028.
What is a 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 Key Factors Driving In The Genotyping Market?
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 Alzheimer’s, 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 (R&D) activities focusing on genomic drug development and precision medicine research is creating a favorable market outlook across the globe.
Who Are The Key Players/Companies In The Global Genotyping Market?
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.
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
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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