Global SNP Genotyping and Analysis Market to Expand at 21.8% CAGR owing to Surging Demand from Diagnostic Research

SNP genotyping and analysis is mostly applied as a research tool for identifying variations in genomes that lead to varying morphological traits and also help in determining the ancestry and health of animals and plants. The main factors driving the global SNP genotyping and analysis market are growing demand from the areas of pharmacogenomics, animal breeding, and diagnostic research.

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The technological factors fueling this market are the introduction of innovative technologies and lower costs of sequencing. Expanding at a CAGR of 21.8% from 2013 to 2019, the global SNP genotyping and analysis market is projected to reach USD 9,485.2 million by the end of the forecast period from USD 2,385.2 million in 2012. Ongoing trends suggest that the expanding SNP genotyping and analysis market in developed and developing economies will make genotyping services more accessible to people in these regions.

In-Depth Research to Drive the Market during the Forecast Period

The global SNP genotyping and analysis market is segmented on the basis of technology, applications, and geography. On the basis of technology, this market is segmented into sequenom massARRAY MALDI-TOF, applied biosciences SNPlex, SNP pyrosequencing, taqman allelic discrimination, SNP genotyping by microarrays and GeneChips, and others. The segment for genotyping by microarrays and GeneChips is further categorized into Fluidigm, Affymetrix, Illumina, and others.

Application-wise, the global SNP genotyping and analysis market is segmented into breeding and animal livestock, agricultural biotechnology, pharmaceuticals and pharmacogenomics, and diagnostic research. A major chunk of the earnings of the global SNP genotyping and analysis market are channelized towards the development of diagnostic products that have similarities with companion diagnostics. This will give a preview of the unfolding of a genome as a person ages.

SNP genotyping first received its acceptance in the area of agriculture and then in the other fields. In-depth research is being carried out in in food crops such as maize, corn, oats, wheat, rice, and other different types of grasses to study the effectiveness of SNP genotyping.

Asia Pacific SNP Genotyping and Analysis Market to Expand Robustly in the Forthcoming Years

Geographically, the global SNP genotyping and analysis market is segmented into Asia Pacific, North America, Europe, and Rest of the World. North America holds the largest share of the overall SNP genotyping and analysis market because of growing awareness and surging demand from animal breeding and pharmacogenomics sectors. Another key factor that makes North America the leading player in the global SNP genotyping and analysis market is the origination of most SNP technologies in this region.

Owing to better healthcare infrastructure, potential research facilities, and greater investments by major companies in India and China, the Asia Pacific SNP genotyping and analysis market is anticipated to expand robustly during the forecast period. The Asia Pacific SNP genotyping and analysis market is expected to expand at a remarkable CAGR of 23.10% in the forecasting horizon. Imperfect protocols that lead to large redundant data and the issues pertaining to reimbursements are the glaring restraints in the global SNP genotyping and analysis market. However, surging demand for affordable genotyping services is anticipated to create several opportunities in the global SNP genotyping and analysis market for further expansion.

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The prominent companies operating in the global SNP genotyping and analysis market are Roche, Sequenom, Fluidigm, Affymetrix Inc., Illumina Inc., and Life Technologies Corporation amongst others.

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