According to the latest report by IMARC Group, titled “Genotyping Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global genotyping market trends.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global genotyping market size reached US$ 14.77 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 36.75 Billion by 2027, exhibiting a growth rate (CAGR) of 15.60% during 2022-2027.
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.
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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.
Market Trends
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.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the 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
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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