Press release
Single Nucleotide Polymorphism (SNP) Genotyping Market Set to Reach $24.95 Billion by 2029 with 19% Yearly Growth
Single Nucleotide Polymorphism (SNP) Genotyping Market
The rise in chronic illnesses is anticipated to bolster the growth of the single nucleotide polymorphism (SNP) genotyping market. These are ailments that persist for at least a year, requiring ongoing medical treatment, inhibiting regular tasks, or both. SNP genotyping plays a critical role in pinpointing genetic propensities and endorsing individualized medicine as chronic diseases become more widespread. In 2024, the Australian Institute of Health and Welfare, a governmental agency in Australia, reported that the mortality rate associated with chronic illnesses escalated from 459 deaths per 100,000 individuals in 2021 to 490 deaths per 100,000 individuals in 2022. Consequently, the escalating incidence of chronic diseases is fuelling the expansion of the SNP genotyping systems market.
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How will the growth rate of the single nucleotide polymorphism (snp) genotyping market shape industry trends by 2034?
There has been an exponential increase in the market size of single nucleotide polymorphism (SNP) genotyping in the previous years. Starting at $10.3 billion in 2024, it's expected to balloon to $12.37 billion in 2025, boasting a compound annual growth rate (CAGR) of 20.1%. Various factors such as an elevation in genomics research, a rise in genetic disorders, the surge in personalized medicine, the expanding pharmaceutical industry, and an increasing need for molecular diagnostics are responsible for this historical growth.
The market size for single nucleotide polymorphism (SNP) genotyping is projected to experience a significant upturn in the approaching years. The forecast growth rate for this market, calculated as a compound annual growth rate (CAGR), is 19.2%, taking the market value to $24.95 billion by 2029. This expansion over the projected period is credited to the increase in its use in disease research, heightened demand for precision medicine, extended biobanking programs, increased genetic testing, and its proliferating use in agriculture for crop enhancement. Key trends to expect within the forecasted period include wider adoption of next-generation sequencing (NGS), boosted demand for SNP genotyping in pharmacogenomics, the rise of direct-to-consumer genetic testing, emphasis on automation, and the prevalence of high-throughput genotyping platforms.
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What new trends are reshaping the single nucleotide polymorphism (snp) genotyping market and its opportunities?
The single nucleotide polymorphism (SNP) genotyping market is trending towards the adoption of advanced technological solutions. To maintain their prominence in this market, leading companies are launching innovative and technologically enhanced offerings. An illustration of this trend can be seen in the May 2022 launch of InfiniSEEK by Neogen Corporation, a company from the United States offering solutions for animal protein, agriculture, beverage, and food industries, and Gencove, a US-based sequencing solutions provider. Touted to be the first comprehensive genome and genotyping tool for cattle breeders, InfiniSEEK has been thoroughly validated, confirming that low-pass genome-wide sequencing concurs over 99% with deep whole-genome sequencing. Notably, it can sometimes offer higher clinical-grade accuracy in certain areas.
Which primary segments of the single nucleotide polymorphism (snp) genotyping market are driving growth and industry transformations?
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
Subsegments:
1) By Consumables: Reagents And Kits, DNA Probes, Microarrays
2) By Instruments: SNP Genotyping Platforms, Sequencers, PCR Machines
3) By Services: SNP Genotyping Services, Data Analysis Services, Consultation Services
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Which geographical regions are pioneering growth in the single nucleotide polymorphism (snp) genotyping market?
North America was the largest region in the single nucleotide polymorphism (SNP) genotyping market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the single nucleotide polymorphism (SNP) genotyping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the single nucleotide polymorphism (snp) genotyping market landscape?
Major companies operating in the single nucleotide polymorphism (SNP) genotyping market include 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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What Is Covered In The Single Nucleotide Polymorphism (SNP) Genotyping Global Market Report?
• Market Size Forecast: Examine the single nucleotide polymorphism (snp) genotyping market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the single nucleotide polymorphism (snp) genotyping market for a structured understanding.
• Key Players Overview: Analyze major players in the single nucleotide polymorphism (snp) genotyping market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the single nucleotide polymorphism (snp) genotyping market.
• Segment Contributions: Evaluate how different segments drive overall growth in the single nucleotide polymorphism (snp) genotyping market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the single nucleotide polymorphism (snp) genotyping market.
• Industry Challenges: Identify potential risks and obstacles affecting the single nucleotide polymorphism (snp) genotyping market.
• Competitive Landscape: Review strategic developments in the single nucleotide polymorphism (snp) genotyping market, including expansions, agreements, and new product launches.
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