(MENAFN- Straits Research) The global market for genotyping was valued at USD 12.33 billion in 2021, and it is anticipated to reach USD 44.93 billion by 2030 at a CAGR of 15.45%.
Genotyping involves analyzing DNA sequences to ascertain the genetic make-up of the genotypes of living things, such as people, plants, animals, and microorganisms. Human genotyping aids in establishing paternity or maternal status. The genotyping of microorganisms, such as viruses and bacteria, helps to prevent pathogen spread by finding the source of an outbreak. Historically, only a tiny portion of the genotype could be determined by doctors and scientists due to technological restrictions. However, the development of whole-genome genotyping in recent years has opened up new possibilities for genotyping.
The global genotyping market is growing due to factors such as falling DNA sequencing costs, rising genetic disease incidence, growing significance of SNP genotyping in drug development, awareness of personalized medicine, and rising demand for genotyping of livestock from both animal and plant sources. A lack of qualified specialists and ambiguity in the reimbursement for these products limit this market's growth.
Market Dynamics
As a result of technological advancements, DNA sequencing costs are declining hence driving the market growth.
Technological advancements have made it possible to miniaturize, automate, and lower the overall costs of DNA sequencing, as well as to be more flexible and use multi-parameter testing. It has helped increase the applications and availability of DNA sequencing, freeing doctors to focus on more critical choices like choosing and prioritizing therapeutic targets through various genotyping investigations. It has improved the application of PCR, sequencing, capillary electrophoresis, and microarrays in clinical research and medication development. Due to their ability to discover many SNP markers, researchers have been able to use the most recent technological advancements in SNP identification.
Governments' support in genotyping research is driving market growth.
Genotyping research is predicted to be the market driver, and governments in many nations are implementing various steps to encourage and fund research institutions. For instance, in August 2019, the NIH provided Color, a health technology startup, with the first grant of USD 4.6 million for advancing precision medicine. Similarly, the Australian government unveiled its Australian Genomics Health Futures Mission initiative in 2018. To advance genetic illness testing and diagnosis and the creation of personalized medication, the government will invest USD 500 million over ten years in this mission through the Medical Research Future Fund.
Another factor projected to raise demand for genotyping-based diagnostic testing is an increase in the prevalence of diseases including cancer, Alzheimer's disease, and Parkinson's disease.
Growth opportunities for the global genotyping market
Increased application areas for genotyping are creating growth opportunities for the market
Genotyping platforms may be used in pharmacogenomics, diagnostic research, customized medicine, and forensics. This method is also appropriate for various veterinary applications, food safety, and atmospheric testing in remote locations and commercial settings. As a result of the high frequency of the disease and the requirement for large-scale genotyping analysis, human diagnostics and pharmacogenomics now have significant market potential. This goal is being met through adapting NGS, with companies like QIAGEN and Freenome (US) working together to develop NGS-based assays for precision medicine.
Regional analysis of the global genotyping market
The global market for genotyping is divided into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.
Due to the rising popularity of technologically advanced goods, sizable pharmaceutical and biopharmaceutical businesses, proactive government policies, and improvements in healthcare infrastructure, North America held the most significant market share in 2021. Another essential element contributing to the high market share in this area is the existence of big players.
During the forecast period, Europe is anticipated to display the fastest CAGR rate. Numerous variables, including technical developments and the expanding pharma and biopharma business in the area, can be blamed for the vast latent growth. The Asia-Pacific segment is expected to have the highest CAGR rate because more clinical trials are being conducted there.
Key Highlights
The global market for genotyping was valued at USD 12.33 billion in 2021, and it is anticipated to reach USD 44.93 billion by 2030 at a CAGR of 15.45%.
The global market for genotyping is segmented into five parts based on product, technology, application, end-use and region. Further, based on product, the market is broken down into Reagents & Kits, Instruments and Software & Services. In 2021, the segment with the largest share was reagents & kits.
The market is divided into Diagnostics and Personalized Medicine, Agricultural Biotechnology, Pharmacogenomics, Animal Genetics and Others based on application. The diagnostics and personalized medicine segment held the most significant proportion of the genotyping market.
Based on technology, the market is broken down into Microarray, Sequencing, PCR, Mass Spectrometry, Capillary Electrophoresis and Others. In 2021, the PCR segment dominated the market and had the most significant revenue share.
The market is classified into Diagnostics and Research Laboratories, Pharmaceutical and Biopharmaceutical Companies, Academic Institutes and Others according to end-use. The pharmaceutical and biopharmaceutical category dominated the market.
The market is broken down into Asia-Pacific, North America, Europe, Latin America and the Middle East & Africa. North America accounted for the largest market share.
Competitive analysis of the global genotyping market
Some key players contributing majorly to the global genotyping market are Qiagen Inc.; Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd.; Fluidigm Corporation; Agilent Technologies Inc.; Eurofins Scientific Inc.; Illumina, Inc.; Thermo Fisher Scientific Inc.; GE Healthcare Inc.; and Danaher Corporation.
Recent developments in some of the key players:
December 2021,
in nations that accept the CE mark, Roche announced the introduction of the first infectious illness tests on the cobas® 5800 System, a new molecular laboratory apparatus.
December 2021,
the validation of BDI Prime Seq TM as a sequencing-based method for assessing maize breeding populations was announced by Eurofins BioDiagnostics, Inc., a world leader in agriculture and genomics testing, from its River Falls, Wisconsin, site.
In January 2022,
to integrate the SomaScan® Proteomics Assay onto Illumina's current and upcoming high throughput next-generation sequencing (NGS) technologies, Illumina, Inc. engaged in a binding co-development agreement with SomaLogic.
Segmentation
By Product
Reagents & Kits
Instruments
Software & Services
By Technology
Microarray
Sequencing
PCR
Mass Spectrometry
Capillary Electrophoresis
Others
By Application
Diagnostics and Personalized Medicine
Agricultural Biotechnology
Pharmacogenomics
Animal Genetics
Others
By End-Use
Diagnostics and Research Laboratories
Pharmaceutical and Biopharmaceutical Companies
Academic Institutes
Others
By Region
North America
Europe
Asia-Pacific
Latin America
The Middle East & Africa
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