Genotyping Assay Market worth $37.1 billion by 2029

The major players in this market are Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), Danaher Corporation (US), QIAGEN (Netherlands), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US)
The global genotyping assay market [https://www.marketsandmarkets.com/Market-Reports/genotyping-market-249958595.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr], valued at US$17.4 billion in 2023, is forecasted to grow at a robust CAGR of 13.8%, reaching US$19.4 billion in 2024 and an impressive US$37.1 billion by 2029. This growth is driven by advancements in DNA sequencing technology, rising prevalence of genetic disorders, and increased application in personalized medicine and drug development. Key market drivers include the growing use of genotyping in drug discovery and development, while high instrument costs act as a restraint. Opportunities lie in expanding applications in animal genetics and agricultural biotechnology. North America dominates the market, and major players include Thermo Fisher Scientific, Illumina, and QIAGEN. The market is segmented by product & services, technology, applications, end-users, and regions. Reagents & kits and PCR technologies lead in market share, with pharmacogenomics being the largest application segment.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=249958595 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=249958595&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

Browse in-depth TOC on "Genotyping Assay Market"

444 - Tables59 - Figures388 - Pages

"Reagents & Kits segment accounted for the highest CAGR"

By product & service, the market is primarily segmented into reagents and kits, instruments, GENOTYPING ASSAY services, and bioinformatics. The reagents & kits segment accounted for the largest share of the Genotyping assay in 2023. The significant portion of this market can be ascribed to the availability of a broad variety of reagents, the rising demand for reagents as a result of the global increase in GENOTYPING ASSAY test volumes, and the comparatively lower initial investment needed to implement reagents and kits for GENOTYPING Assay in pharmacies and diagnostic facilities.

" The polymerase chain reaction (PCR) segment accounted for the market share in the genotyping assay market, by technology, during the forecast period"

By technology, the market is primarily segmented into polymerase chain reaction (PCR), microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption ionization time-of-flight (MALDI-TOF), and other technologies (in situ hybridization and allele-specific oligonucleotides). The PCR segment accounted for the largest share of the GENOTYPING ASSAY technology market in 2023. The main factors propelling the growth of the PCR market are the introduction of new technologies like reverse transcriptase PCR, nested PCR, hot-start PCR, allele-specific PCR, and multiplex PCR; technological developments in PCR instruments and reagents; and the growing use of PCR technologies in the domains of genetics, prenatal testing, forensics, and personalized medicine.

"Pharmacogenomics segment accounted for the highest share"

By application, the market is primarily segmented into pharmacogenomics, diagnostics & personalized medicine, agricultural biotechnology, animal genetics, and other applications. The pharmacogenomics segment accounted for the largest share of the GENOTYPING ASSAY applications market in 2023. The need to lower the overall cost of medication development for pharmaceutical companies and the growing demand for pharmacogenomics to research adverse drug reactions (ADRs) in clinical trials are the primary drivers of growth in this market. The pharmacogenomics genetyping test is predicted to grow due to various factors, including the rising need for personalized medication, the rise in hereditary and life-threatening disorders, and ongoing research on effective and alternative drug delivery techniques.

"Biopharmaceutical & pharmaceutical companies segment accounted for the highest share"

By end user, the market is primarily segmented into biopharmaceutical & pharmaceutical companies, diagnostic laboratories, academic & research institutes, and other end users. The biopharmaceutical & pharmaceutical companies segment accounted for the largest share of the GENOTYPING ASSAY end-user market in 2023. The significant market share of this industry may be ascribed to the growing need for pharmacogenomics in the drug research and discovery process, the introduction of new products, and FDA recommendations to incorporate pharmacogenomics studies and GENOTYPING ASSAY in the drug discovery process. Furthermore, growing partnerships and funding for pharmacogenomics research further support the expansion of this market sector for GENOTYPING ASSAY.

"North America aimed for the largest share of the genotyping assay market".

The global genotyping assay market is segmented into six major regions-North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. North America is the largest regional market for genotyping assays. North America is the largest regional market for cancer biomarkers. This regional segment's dominance can be attributed to a number of factors, including the growing use of technologically sophisticated GENOTYPING ASSAY products, the availability of government and private funding for research projects based on GENOTYPING ASSAY, the expanding use of GENOTYPING ASSAY in pharmacogenomics, rising investments in DNA-based testing, the growing uptake of NGS, and the presence of major market players in the area.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=249958595 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=249958595&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

The major players in this market are Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), Danaher Corporation (US), QIAGEN (Netherlands), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Merck KGAA (Germany), Agilent Technologies (US), Revvity Inc. (US), Standard Bio Tools (US), PacBio (US), GENEWIZ Inc. (US), Luminex Corporation (Diasorin Company) (US), Oxford Nanopore Technologies Plc (UK), GenScript (US), Takara Bio Inc. (Japan), New England Biolabs (US), Promega Corporation (US), Tecan Trading AG (Switzerland), Genotypic Technology Pvt. Ltd. (India), BGI GROUP (China), Novogene Co., Ltd. (China), Paragon Genomics, Inc. (US), NeoGenomics Laboratories (US).

Thermo Fisher Scientific Inc. (US)

Thermo Fisher held the leading position in the genotyping assay market in 2023. The players's top position in this market is primarily due to its vast products range, which includes genomic profiling, PCR, microarray analysis, instruments and kits & reagents. Also, the company has a quite huge hold in terms of geographical presence which covers North America, Europe, Latin America, the Middle East, the Asia Pacific and Africa,. To maintain its top rank in the market, the company is always determined in launching new products and partnering and collaborating with other players existent in this market.

Illumina, Inc. (US)

Illumina grabbed the second position in the genotyping market in 2023. The company has been in lead with its flagship NGS platforms in the sequencing market. Reagents such as TruSeq sample preparation kits, TruSeq SBS sequencing kits, and various other sequencing reagents are provided by the company, along with services which include whole genome sequencing, human whole exome sequencing, de novo sequencing, custom-targeted resequencing, gene expression using random-primed RNA sampling, and others. To maintain its position in the market, the player is signing numerous agreements, partnerships with small scale players and launching new and innovative products to build a strong product portfolio.

For more information, inquire now! Inquire Now [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=249958595&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr]

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=genotyping-assay-market-worth-371-billion-by-2029]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/genotyping-market-249958595.html

Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com



This release was published on openPR.