Genotyping Market Size Estimated to be Worth USD 154.35 Billion by 2031, at 22.5% CAGR: The Insight Partners
The genotyping market in North America is expected to grow from US$ 11,734.10 million in 2022 to US$ 37,599.28 million by 2028. It is estimated to grow at a CAGR of 21.4% from 2022 to 2028.
NEW YORK, Dec. 10, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, Global Genotyping Market value is expected to reach US$ 154.35 billion by 2031 from US$ 30.44 billion in 2023 at a CAGR of 22.5%. Genotyping involves determining an individual's genetic makeup by analyzing their DNA sequence. It identifies minor genetic differences that can lead to variations in physical traits and reveal predispositions to certain diseases. By comparing DNA to reference sequences or other individuals, genotyping enhances the understanding of inherited traits. This technique is vital in clinical research, diagnostics, and agriculture, as it is employed in determining the risk of genetic disorders or diagnosing them, developing personalized medicine, and improving crop resilience.
https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg
The List of Companies - Genotyping Market -
-- F. Hoffmann-La Roche Ltd
-- QIAGEN NV
-- Merck KGaA
-- Eurofins Genomics
-- Thermo Fisher Scientific Inc
-- BioTek Instruments Inc
-- Xcelris
-- Trimgen Corporation
-- Illumina Inc
-- Danaher Corp
Request a Customized Copy of the Genotyping Market Report @ https://www.theinsightpartners.com/reports/genotyping-market
1. Introduction of Advanced Technologies: Ongoing advancements in genotyping
technologies are driving market growth. Innovations including
next-generation sequencing (NGS) and CRISPR-based techniques improve the
accuracy and efficiency of genetic analysis, lower costs and turnaround
times, thereby making genotyping more attractive to both healthcare
providers and researchers. As these technologies progress, they allow for
more comprehensive genetic profiling, broadening the applications of
genotyping across various fields. For instance, in January 2024, Thermo
Fisher Scientific launched Axiom PangenomiX Array, offering optimal
genetic coverage for pharmacogenomic research and population-scale
disease studies. This array is currently the only solution that can run
four assays in one test: SNP genotyping, complete genome copies number
variant detection, fixed copy number discovery, and blood and HLA typing.
2. Increasing Prevalence of Genetic Disorders: The prevalence of genetic
disorders is rising worldwide, resulting in a growing demand for genetic
testing and genotyping services. The demand for genetic testing rises
with the awareness of hereditary conditions, and this type of testing
utilizes genotyping techniques to identify predispositions and inform
treatment options. This trend is evident in both clinical settings and
direct-to-consumer testing, making genetic data more accessible. Improved
screening and early diagnosis are among other benefits that contribute to
the rising need for genotyping services.
3. Geographical Insights: In 2023, North America led the genotyping market
with a substantial revenue share, followed by Europe and APAC,
respectively. Asia Pacific is projected to register the highest CAGR
during the forecast period.
Report Attributes
Details
Market Size in 2023
US$ 30.44 billion in 2023
Market Size by 2031
US$154.35 billion by 2031
CAGR
CAGR of 22.5% during 2023-2031
Base Year 2023
Forecast Period
2024-2031
Historical Data
2021-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe -[UK, Germany, France, Russia,
Italy, Rest of Europe]
Asia-Pacific - [China, India, Japan, Australia, Rest of Asia-Pacific]
South and Central America [Brazil, Argentina, Rest of South and Central America]
Middle East and Africa [South Africa, Saudi Arabia, UAE and Rest of Middle East
and Africa]
Get Sample Pages of Research analysis: https://www.theinsightpartners.com/sample/TIPHE100001166/
Market Segmentation
-- Based on product type, the genotyping market is segmented into
instruments, reagents and kits, bioinformatics, and genotyping services.
The reagents and kits segment is likely to hold the largest share of the
market in 2023.
-- Based on technology, the genotyping market is segmented into polymerase
chain reaction (PCR), capillary electrophoresis, sequencing,
microarrays, matrix-assisted laser desorption/ionization-time of flight
(MALDI-ToF), mass spectrometry, and Others. The polymerase chain
reaction (PCR) segment held the largest share of the market in 2023.
-- In terms of application, the genotyping market is segmented into
diagnostics and personalized medicine, pharmacogenomics, animal
genetics, agricultural biotechnology, and Others. The diagnostics and
personalized medicine segment held the largest share of the market in
2023.
-- Based on end user, the genotyping market is segmented into
pharmaceutical and biopharmaceutical companies, diagnostic and research
laboratories, academic institutes, and others. The pharmaceutical and
biopharmaceutical companies segment held the largest share of the market
in 2023.
-- The genotyping market is segmented into five major regions: North
America, Europe, APAC, Middle East and Africa, and South and Central
America.
Segments Covered
By Product Type
-- Instruments
-- Reagents and Kits
-- Bioinformatics
-- Genotyping Services
By Technology
-- Microarray
-- Capillary Electrophoresis
-- Sequencing
-- Polymerase Chain Reaction
-- Matrix-Assisted Laser Desorption/MALDI-TOF
-- Other Technologies
By Application
-- Pharmacogenomics
-- Diagnostics and Personalized Medicine
-- Animal Genetics
-- Agricultural Biotechnology
-- Other Applications
By End User
-- Pharmaceutical and Biopharmaceutical Companies
-- Diagnostic and Research Laboratories
-- Academic Institutes
-- Other End Users
Competitive Strategy and Development
-- Key Players: A few of the major companies operating in the genotyping
market include Hoffmann-La Roche Ltd, QIAGEN NV, Merck KGaA, EUROFINS
GENOMICS, Thermo Fisher Scientific Inc, BioTek Instruments, Inc, XCELRIS
GENOMICS, TRIMGEN CORPORATION, Illumina Inc, Danaher Corp, Danaher Corp,
GE HealthCare Technologies Inc, Standard BioTools Inc, Laboratory Corp
of America Holdings, and Beckman Coulter Inc.
-- Trending Topics: DNA Microarray, Next-Generation Sequencing (NGS),
Genetic Testing, Polymerase Chain Reaction (PCR), Biobanking, Clinical
Diagnostics, Pharmacogenomics, Genomics, Molecular Diagnostics, and
Agrigenomics
Global Headlines on Genotyping
-- Bio-Rad Laboratories, Inc. launched PTC Tempo 48/48 and PTC Tempo 384
Thermal Cyclers, developed to support PCR applications in basic and
translational research, quality control, and process development.
-- TIB Molbiol, a subsidiary of Roche, rapidly developed additional testing
options to differentiate mutations in the Omicron SARS-CoV-2 variant as
it continues to offer new and accurate detection solutions.
-- Thermo Fisher Scientific Inc. introduced new-generation mass
spectrometry instruments, workflows, and software.
-- Standard BioTools Inc. launched NGS library preparation functionality on
the X9 High-Throughput Genomics System.
Get Flat 30% Discount on purchase of Genotyping Market Research Report With Free 10% extra customization: https://www.theinsightpartners.com/buy/TIPHE100001166/
Conclusion
The rising demand for genotyping technologies for the diagnosis of prevalent genetic disorders, including cystic fibrosis, alpha- and beta-thalassemias, and sickle cell anemia, drives the genotyping market growth. R&D activities and investments lead to a significant focus on reagents and kit formulation development for genotyping technologies, which contributes substantially to the launch of rapid and reliable diagnostics solutions for the treatment of genetic and rare diseases. Further, technological advancements in DNA sequencing, such as NGS, have enabled speedy, accurate sequencing, allowing for great productivity. Such technological breakthroughs have the potential to enable miniaturization, automation, and cost reduction. They can also aid in operational flexibility and multiparameter testing. All these benefits add to the convenience of DNA sequencing, allowing clinicians to concentrate on higher-level decisions such as selecting and prioritizing therapeutic targets through various genotyping studies.
More Trending Latest Research Reports by The Insight Partners -
Bioinformatics Market Size, Share, Trends | Global Forecast 2028
Bioinformatics Platforms Market Size and Forecasts 2021 - 2031
Genotyping Assay Market Size and Forecasts 2021 - 2031
Microarray Scanners Market Size and Forecasts 2021 - 2031
DNA Microarray Chips Market Size and Forecasts 2021 - 2031
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person:
Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/genotyping-market
Logo: https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/genotyping-market-size-estimated-to-be-worth-usd-154-35-billion-by-2031--at-22-5-cagr-the-insight-partners-302327835.html
SOURCE The Insight Partners
