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Genotyping Market Size Estimated to be Worth USD 154.35 Billion by 2031, at 22.5% CAGR: The Insight Partners

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The Insight Partners

10 Dec, 2024, 16:29 GMT

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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.

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

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