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Genotyping Assay Market Set for Rapid Expansion, Forecast to Reach $77.77 Billion by 2028 with a 22.7% CAGR

07-10-2024 01:37 PM CET | Health & Medicine

Press release from: The Business Research Company

Genotyping Assay Market Report

Genotyping Assay Market Report

The new report published by The Business Research Company, titled "Genotyping Assay Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the genotyping assay market size has grown exponentially in recent years. It will grow from $27.7 billion in 2023 to $33.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The genotyping assay market size is expected to see exponential growth in the next few years. It will grow to $77.77 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%.

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Rising Genetic Disorder Prevalence Drives Growth in the Genotyping Assay Market
The increasing prevalence of genetic disorders is expected to propel the growth of the genotyping assay market going forward. Genetic disorders are a group of medical conditions that are caused by abnormalities or mutations in an individual's deoxyribonucleic acid (DNA). Genotyping assays compare the DNA of affected people to that of healthy people to spot changes and can reveal specific genetic mutations or variations linked to a particular genetic disorder. For instance, in June 2023, Gene People, a UK-based registered charity organization supporting individuals with genetic conditions, reported that one in every 25 children in the UK had a genetic disorder, affecting approximately 30,000 newborns and young children in the country as well as more than 2.4 million children and adults annually. Therefore, the increasing prevalence of genetic disorders is driving the growth of the genotyping assay market.

CE-IVD Marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit For Treatment-Resistant Strains Of HIV-1
Major companies operating in the genotyping assay market are developing advancements in genomic research such as CE-IVD marked assay to detect treatment-resistant strains of HIV-1. CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit refers to a Sanger sequencing-based assay that examines positive samples of human immunodeficiency virus (HIV) to identify genetic variants that may resist common antiretroviral therapeutics. For instance, in January 2023, Thermo Fisher Scientific, a US-based company launched CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit. This system detects treatment-resistant strains of HIV-1 and has unique features that include assessing genomic mutations, using HIV RNA, detecting drug resistance mutations, using gold-standard Sanger sequencing technology, and is designed for clinical use. The launch of the Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit has added value by improving the detection of treatment-resistant HIV-1 strains, providing ready-to-use reagents and controls, meeting regulatory requirements, having high-performance characteristics, and being compatible with existing sequencing platforms and workflows.

The genotyping assay market covered in this report is segmented -
1) By Product And Service: Reagents And Kits, Genotyping Services, Instruments, Bioinformatics
2) By Technology: Microarrays, Polymerase Chain Reaction, Sequencing, Capillary Electrophoresis, Matrix-assisted Laser Desorption Or Ionization-Time Of Flight Mass Spectrometry, Other Technologies
3) By End-User: Pharmacogenomics, Personalized Medicine And Diagnostics, Animal Genetics, Agricultural Biotechnology, Research And Diagnostic Laboratories, Academic Institutes

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Major companies operating in the genotyping assay market report are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Danaher Corporation, Eurofins Scientific SE, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Qiagen NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv Inc., Promega Corporation, Luminex Corporation, Integrated DNA Technologies Inc., Integrated DNA Technologies Ltd., Sequenom Inc., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies plc, GenMark Diagnostics Inc., Macrogen Inc., Pacific Biosciences of California Inc., Standard BioTools Inc., Genewiz Inc., New England Biolabs, TrimGen Corporation, Xcelris Genomics

Contents of the report:
1. Executive Summary
2. Genotyping Assay Market Report Structure
3. Genotyping Assay Market Trends And Strategies
4. Genotyping Assay Market - Macro Economic Scenario
5. Genotyping Assay Market Size And Growth
…..
27. Genotyping Assay Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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