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Rising investments by public and private organizations in R&D and decreasing costs of DNA sequences are some major factors driving market revenue growth
NEW YORK , NY, UNITED STATES, April 18, 2022 /EINPresswire.com / -- The global genotyping assay market size is expected to reach USD 87.9 Billion in 2028 and register a revenue CAGR of 22.4%, according to the latest report by Reports and Data. Some key factors such as reduction in prices of DNA sequencing and increasing awareness about personalized medicine are factors driving global market revenue growth.
Genotyping assay is a widely used method for determining DNA sequence and genetic composition by comparing it with other sequences. High efficiency, operational flexibility, and access to multiple parameters in a single testing are some essential features of modern genotyping assays. Market revenue growth is attributed to factors such as increasing funding by governments of various countries to support genotyping assay techniques, rising cases of chronic and genetic diseases across the globe, and high demand for these assays in research and educational institutes.
Moreover, increasing investments by major market players in R&D to develop more accurate and precise products is expected to create new lucrative revenue opportunities in the years to come.
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Some Key Highlights from the Report:
Based on product and service, the reagents and kits segment accounted for largest revenue share in 2020 and is expected to continue to contribute major revenue share over the forecast period. High demand for reagents and analysis kits is attributed to increasing research activities in the field of genotyping assay techniques, rising number of genotyping testing, and availability of new products.
Based on technology, sequencing segment is expected to account for substantially large revenue share during the forecast period, owing to factors such as advancements in genotyping assay technology, high demand for DNA sequencing, and growing adoption of NGS globally.
On the basis of end-use, the academic institutes segment is expected to register robust revenue CAGR throughout the forecast period, owing to rising funds provided by governments for research and increasing collaborations between major players and academic organizations for drug development.
North America is expected to account for largest revenue share in the global genotyping assay market during the forecast period, owing to presence of well-developed healthcare facilities, availability of funds for genotyping-based projects, and dominance of well-established market players.
Asia Pacific is expected to register a robust revenue CAGR throughout the forecast period, owing to increasing prevalence of chronic and genetic diseases, and growing awareness regarding importance of genotyping testing among people. Additionally, increasing trials and clinical research activities conducted by various pharmaceutical companies in countries in the region is expected to market revenue growth.
Some major companies profiled in the market report are Thermo Fisher Scientific, Illumina, QIAGEN (Netherlands), Agilent Technologies, Danaher Corporation, Roche Diagnostics (Switzerland), GE Healthcare, Fluidigm Corporation, PerkinElmer, Eurofins Scientific (Luxembourg), Bio-Rad Laboratories, Pacific Biosciences of California, GENEWIZ, and Integrated DNA Technologies.
In February 2021, Novacyt S.A launched a new and innovative portfolio of assays called SNPsig to help diagnose new variants of SARS-CoV-2.
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Genotyping Assay Market Segmentation:
Product & Service Outlook (Revenue, USD Billion, 2018 - 2028)
Reagents & Kits
Sequencers & Amplifiers
Technology Outlook (Revenue, USD Billion, 2018 - 2028)
Amplified Fragment Length Polymorphism
Restricted Fragment Length Polymorphism
Single-stranded Conformation Polymorphism
Allele-specific Oligonucleotide (ASO) Probes
Fluorescence In Situ Hybridization (FISH))
Application Outlook (Revenue, USD Billion, 2018 - 2028)
Diagnostic & Personalized Medicine
Microbial Genomic Studies
Aquaculture Breeding Studies
End-Use Outlook (Revenue, USD Billion, 2018 - 2028)
Pharmaceutical and Biopharmaceutical Companies
Diagnostic and Research Laboratories
Animal and Aqua Genetics Companies
Global Genotyping Assay Market Report: Regional Segmentation
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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Global Genotyping Assay Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter's Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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Frequently Asked Questions Answered in the Report:
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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