Press release
Spotlight on the Single Nucleotide Polymorphism (SNP) Genotyping Market: Exploring Market Dynamics, Segments, and Future Outlook
Single Nucleotide Polymorphism SNP Genotyping Market
The Business Research Company offers in-depth market insights through Single Nucleotide Polymorphism SNP Genotyping Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The single nucleotide polymorphism (snp) genotyping market size has grown exponentially in recent years. It will grow from $8.48 billion in 2023 to $10.24 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to increasing research in genomics, rise in genetic disorders, growth in personalized medicine, expanding pharmaceutical industry, rising demand for molecular diagnostics.
The single nucleotide polymorphism (snp) genotyping market size is expected to see rapid growth in the next few years. It will grow to $20.6 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to growing applications in disease research, rise in demand for precision medicine, expanding biobanking initiatives, surge in genetic testing, rising adoption in agriculture for crop improvement. Major trends in the forecast period include increasing use of next-generation sequencing (ngs), rising demand for snp genotyping in pharmacogenomics, emergence of direct-to-consumer genetic testing, focus on automation and high-throughput genotyping platforms.
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Market Segmentation:
The single nucleotide polymorphism (snp) genotyping market covered in this report is segmented -
1) By Product: Consumables, Instruments, services
2) By Technology: TaqMan SNP Genotyping, Mass Array SNP Genotyping, SNP Gene Chip Arrays, Other Technologies
3) By Application: Animal Genetics, Plant Improvement, Diagnostic Research, Pharmaceuticals And Pharmacogenomics, Agricultural Biotechnology, Other Applications
Major Driver - The Rising Role Of Snp Genotyping In Chronic Disease Management
The increasing burden of chronic conditions is expected to propel the growth of the single nucleotide polymorphism (SNP) genotyping market going forward. Chronic conditions are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Single Nucleotide Polymorphism (SNP) genotyping is essential for identifying genetic predispositions and promoting personalized medicine due to the increased prevalence of chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there will be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the increasing burden of chronic conditions drives the growth of the single nucleotide polymorphism (SNP) genotyping systems market.
Competitive Landscape:
Major companies operating in the single nucleotide polymorphism (snp) genotyping market report are Thermo Fischer Scientific Inc., Danaher Corporation, Roche Diagnostics Corporation, GE HealthCare Technologies Inc., Eurofins Genomics LLC, Beckman Coulter Inc., Bio-Rad Laboratories Inc., Qiagen N.V., Sigma-Aldrich Corporation, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Promega Corporation, GenScript Biotech Corporation, Integrated DNA Technologies Inc., LGC Ltd., Sequenom Inc., Fluidigm Corporation, Agendia Inc., Nugen Technologies Inc., BioChain Institute Inc., Standard BioTools Inc., Oxford Gene Technology, Affymetrix Inc., PREMIER Biosoft International Inc., GenoLogics, Rubicon Genomics Inc., Xcelris Genomics, Douglas Scientific LLC, Golden Helix Inc.
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Top Trend - Neogen Corporation And Gencove Transforming Snp Genotyping With Infiniseek
Technological solutions are a key trend gaining popularity in the single nucleotide polymorphism (SNP) genotyping market. Major companies operating in the single nucleotide polymorphism (SNP) genotyping market are introducing technologically advanced solutions to sustain their position in the market. For instance, in May 2022, Neogen Corporation, a US-based food safety company that provides solutions for the agriculture, animal protein, food, and beverage industries, and Gencove, a US-based provider of sequencing solutions, launched InfiniSEEK. It is the first complete genome and genotyping tool for cattle breeders. InfiniSEEK's thorough validation shows that low-pass genome-wide sequencing is more than 99% concordant with deep whole-genome sequencing and can provide even higher clinical-grade accuracy in some areas of interest.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Single Nucleotide Polymorphism SNP Genotyping Market Characteristics
3. Single Nucleotide Polymorphism SNP Genotyping Market Trends And Strategies
4. Single Nucleotide Polymorphism SNP Genotyping Market - Macro Economic Scenario
5. Single Nucleotide Polymorphism SNP Genotyping Market Size And Growth
…..
27. Single Nucleotide Polymorphism SNP Genotyping Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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