Press release
Genotyping Market to Reach $61.6 Billion, Globally, by 2033 at 13.8% CAGR | Illumina, Inc., Eurofins Genomics LLC, QIAGEN , Thermo Fisher Scientific Inc.
According to the report, the genotyping market was valued at $16.8 billion in 2023, and is estimated to reach $61.6 billion by 2033, growing at a CAGR of 13.8% from 2024 to 2033.Request Sample of the Report on -
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The increasing prevalence of genetic disorders worldwide, such as cancer, cardiovascular diseases, and neurological disorders, shift towards personalized medicine, and increasing demand for forensic DNA analysis are the major factors that drive the growth of the genotyping market growth. However, the high cost of genotyping technologies restricts market growth. Moreover, advancements in genomic research offers remunerative opportunities for the expansion of the global genotyping market.
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The diagnostics and research laboratories segment dominated the market share in 2023
By end user, the diagnostics and research laboratories segment dominated the market share in 2023. This is attributed to increasing demand for genotyping assays in clinical diagnostics, disease screening, and personalized medicine that drive the segment growth. Research laboratories continue to drive innovation in genomics research, drug discovery, and agricultural biotechnology, contributing to the expansion of the genotyping market. In addition, advancements in genotyping technologies and bioinformatics tools enhance the capabilities of diagnostics and research laboratories to analyze genetic data accurately and efficiently thereby propeling the segment growth.
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North America to maintain its dominance by 2033
North America is poised to maintain its leadership status in the genotyping market during the forecast period owing to robust investments in research and development, advanced healthcare infrastructure, and a strong regulatory framework supporting genetic technologies. In addition, the region benefits from a highly skilled workforce and a thriving biotechnology industry. The presence of major market players and academic institutions further solidifies North America's position as a hub for genotyping innovation and adoption. With increasing demand for personalized medicine and genetic diagnostics, North America is expected to continue driving advancements in genotyping technologies and maintaining its dominance in the global market.
Key Players
Illumina Inc.
Thermo Fisher Scientific Inc.
QIAGEN
F. Hoffmann-La Roche Ltd
Danaher Corporation
Agilent Technologies Inc
Eurofins Genomics LLC
Bio-Rad Laboratories Inc.
PacBio
Integrated DNA Technologies Inc.
The report provides a detailed analysis of these key players in the global genotyping market. These players have adopted different strategies such as expansion, product launch, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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