Press release
Global Genotyping Market: Projected Growth, Key Drivers, and Emerging Trends
What Is The Projected Market Size Of The Global Genotyping Market And Its Growth Rate?
• 2024 Market Size: $23.04 billion
• 2025 Market Size: $26.63 billion (15.6% CAGR)
• 2029 Market Size: $51.43 billion (17.9% CAGR)
The growth of the genotyping market can be attributed to government initiatives and funding, decline in genotyping costs, expansion of biobanks and genetic databases, increasing prevalence of genetic disorders, pharmacogenomics and drug development. Future growth is expected from increased adoption in clinical diagnostics, growing demand for personalized medicine, research and development initiatives, and expanding application in agriculture and livestock.
What Is Driving The Growth In The Genotyping Market?
The rising prevalence of cancer and genetic disorders is fuelling the growth of the genotyping market. Cancer, a broad spectrum of diseases, and genetic disorders are conditions triggered majorly or partly by a variation in the DNA sequence. Genotyping is used in probing genetic variances like single nucleotide variations, copy number variations, and significant structural changes in DNA. According to the World Health Organization in February 2024, approximately 20 million new cases of cancer were reported in 2022, resulting in 9.7 million deaths, while Gene People UK noted in February 2023 that it's estimated that 1 in 25 children has a genetic disorder. This means about 30,000 babies and children are diagnosed annually in the UK. Consequently, the rising prevalence of cancer and genetic disorders is a significant driver of the genotyping market.
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Who Are the Key Players Driving Genotyping Market Growth?
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Laboratory Corporation of America Holdings
• Eurofins Scientific SE
• Agilent Technologies
• PerkinElmer Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN NV
• BGI Genomics
What Are The Key Trends In The Genotyping Market?
• Rise in demand for pharmacogenomics
• Advances in next-generation sequencing
• Expansion in precision medicine initiatives
• Growth in Direct-to-Consumer (DTC) genetic testing
• Focus on cancer genomics and personalized therapies
What Are The Segments Of The Global Genotyping Market?
1) By Product And Services: Instruments, Reagents And Kits, Bioinformatics, Genotyping Service
2) By Technology: Microarrays, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction, Matrix-Assisted Laser Desorption Or Ionization (Maldi-Tof) Mass Spectrometry, Other Technologies
3) By Application: Pharmacogenomics, Diagnostics And Personalized Medicine, Animal Genetics, Agricultural Biotechnology, Other Applications
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Diagnostics And Research Laboratories, Academic Institutes, Other End-Users
Which Region Leads The Genotyping Market?
North America was the largest region in the genotyping market in 2024. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Genotyping Market Global Market Report?
- Market Size Analysis: Analyze the Genotyping Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genotyping Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genotyping Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genotyping Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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QIAGEN
MERCK KGaA
Eurofins Genomics
Thermo Fisher Scientific Inc
BioTek Instruments, Inc.
Xcelris Genomics
TrimGen Corporation
Illumina, Inc.
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