Genotyping Market at a CAGR of 27.3% during the forecast period

The Market Statsville Group (MSG) publishes the new report on the "Genotyping Market by Products (Reagents & Kits, Instruments, and Services), by Technology (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Mass Spectrometry, Sequencing, Microarray, and Others), by Application (Diagnostics, Drug Discovery & Development, Personalized Medicine, Academic Institutes, Agriculture, and Others), by Region - Global Share and Forecast to 2030". The global genotyping market size is expected to grow from USD 19,952.6 million in 2021 to USD 137,602.6 million by 2030, at a CAGR of 27.3% during the forecast period. Government bodies, such as the FTC (Federal Trade Commission), CMS (Centers for Medicaid & Medicare Services), and the FDA (Food and Drug Administration), have played a key role in the success of genomics as they have been involved in monitoring safe, appropriate, and accurate application of genomics & genetic tests.

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One of the most significant factors anticipated to impact the genomics market is how much and to what extent the medical community will use available genomic information in personalized medicine. Furthermore, the decrease in sequencing costs supports an increase in the adoption of whole-genome sequencing. Scientists are combining the data generated from sequencing with diagnostics, which has proven effective in enhancing the personalized treatment landscape.

Global Genotyping Market Research Report Segmentation
The genotyping market has been segmented as products, technology, application, and region.

By Products (Reagents & Kits, Instruments, and Services)
By Technology (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Mass Spectrometry, Sequencing, Microarray, and Others)
By Application (Diagnostics, Drug Discovery & Development, Personalized Medicine, Academic Institutes, Agriculture, and Others)
By Region (North America, Europe, Asia-Pacific, South America, and Middle & Africa)
PCR, by technology, hold the largest market share in 2021

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Based on technology, the global genotyping market is segmented into polymerase chain reaction (PCR), capillary electrophoresis, mass spectrometry, sequencing, microarray, and others. The PCR segment generated the highest revenue of 25.1% of the total global genotyping market in 2021, and it is expected to register a significant CAGR from 2022 to 2030.

PCR is the simplest and foremost procedure conducted prior to the commencement of any tests involving genetic material. The increase in the application of genotyping in the fields of pharmacogenomics, drug discovery & development, acquired immunodeficiency syndrome, and cancer research directly influences the demand for PCR technologies. Some of the techniques categorized under PCR are quantitative, reverse transcription, inverse, assembly, and multiplex. The significant share held by the PCR market is due to the associated benefits and varied applications of multiplex PCR over conventional PCR methodologies.

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North America accounts for the largest market share in genotyping market

Based on the regions, the global genotyping market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America had the largest market share of 31.2% in the global genotyping market. Genetic diseases are one of the major causes of deaths in this region and are expected to drive the growth of genotyping market over the forecast period. High demand for genotyping products is one of the factors contributing to the growth of this market. In addition, high awareness and rising healthcare expenditure levels are expected to present this market with future growth opportunities. Genotyping is widely used in the U.S. for various purposes such as drug discovery, personalized medicine, diagnostic research, agriculture, and others.

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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the genotyping market. It also consists of the profiles of leading companies such as Illumina, QIAGEN, Agilent Technologies, Danaher Corporation, Thermo Fisher Scientific, Roche Diagnostics, Fluidigm Corporation, PerkinElmer, Eurofins Scientific, Bio-Rad Laboratories, GE Healthcare, Pacific Biosciences of California, GENEWIZ, and Integrated DNA Technologies. These market players have focused on acquisitions and expansion to gain a larger market share in the genotyping market.

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