Global Genotyping Market Overview 2024, Forecast To 2033
8 Mar, 2024
The genotyping market has experienced rapid expansion, set to grow from $19.71 billion in 2023 to $22.9 billion in 2024, representing a CAGR of 16.2%. This growth is driven by government initiatives, declining genotyping costs, and increasing prevalence of genetic disorders. Looking ahead, the market is expected to continue its rapid growth, reaching $42.84 billion by 2028 at a CAGR of 17.0%. Factors such as increased adoption in clinical diagnostics, demand for personalized medicine, and expanding applications in agriculture contribute to this growth. Major trends in the forecast period include the rise of pharmacogenomics, advancements in next-generation sequencing, and the expansion of precision medicine initiatives across various sectors, including oncology and rare diseases.
Global Genotyping Market Key Driver
The rising prevalence of cancer and genetic disorders is expected to propel the growth of the genotyping market going forward. Cancer refers to a broad collection of illnesses that can begin in practically any organ or tissue of the body, while genetic disorders refer to a condition wholly or partially brought on by a deviation from the usual DNA sequence. Scientists can use genotyping to investigate genetic variances such as single nucleotide variations, copy number variations, and substantial structural changes in DNA. Genetic testing, or genotyping, looks for specific gene mutations (changes) that may raise a persons risk of acquiring certain cancers. For instance, in January 2022, according to the National Centre for Biotechnology Information, a US-based organization and branch of the National Institutes of Health, its predicted that there will be 1,918,030 new cancer cases and 609,360 cancer deaths, with lung cancer accounting for most of those deaths with roughly 350 fatalities every day as compared to 1,898,160 new cancer cases and 608,570 cancer-related deaths in 2021. Furthermore, in February 2023, according to Gene People UK, a UK-based registered charity, it is estimated that 1 in every 25 children has a hereditary condition. This implies that 30,000 babies and children are newly diagnosed in the UK annually, and more than 2.4 million children and adults have a genetic disorder. Therefore, the increasing prevalence of cancer and genetic disorders is driving the growth of the genotyping market.
Get A Free Sample Of The Global Genotyping Market ReportGlobal Genotyping Market Segments
The genotyping market covered in this report is segmented –
1) Product And Services:Instruments, Reagents And Kits, Bioinformatics, Genotyping Service
2) Technology:Microarrays, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction, Matrix-Assisted Laser Desorption Or Ionization (Maldi-Tof) Mass Spectrometry, Other Technologies
3) Application:Pharmacogenomics, Diagnostics and Personalized Medicine, Animal Genetics, Agricultural Biotechnology, Other Applications
4) End-User:Pharmaceutical And Biopharmaceutical Companies, Diagnostics And Research Laboratories, Academic Institutes, Other End-Users
By Geography: The countries covered in the genotyping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in genotyping market in 2023. The regions covered in the genotyping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Genotyping Industry Players
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; LGC Biosearch Technologies; GenScript Biotech; Inotiv; Takara Bio Inc.; Integrated DNA Technologies Ltd.; 23andMe Inc.; Novogene Corporation; Oxford Nanopore Technologies; Macrogen Inc.; Pacific Biosciences of California; Standard BioTools Inc.; GENEWIZ; Transnetyx; Agena Bioscience Inc.; Genotypic Technology Pvt Ltd.; BMG LABTECH GmbH; Bioline; Biofortuna Limited; Xcelris Genomics.
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Genotyping Market Overview
Genotyping is a lab procedure examining a persons germline DNA for nucleotides or bases to see if certain variations are present. Researchers can explore genetic variants such as single nucleotide variations, copy number variations, and substantial structural alterations in DNA using genotyping. It is used in various fields, including agriculture, medicine, and basic science.