Genotyping Market To Reach $61.6 Billion, Globally, By 2033 At 13.8% CAGR: Allied Market Research

WILMINGTON, Del., Aug. 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled,
" Genotyping Market by Product (Instruments, Reagents and Kits and Software and Services), technology (PCR, Capillary Electrophoresis, Microarrays, Sequencing, Mass Spectrometry, and Others), Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Agricultural Biotechnology, Animal Genetics and Others), and End User (Pharmaceutical and Biopharmaceutical Companies, Diagnostics and Research Laboratories, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033" . 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.

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Prime determinants of growth

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.

Report coverage & details

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Segment Highlights

The reagents and kits segment dominated the market share in 2023

By product, the reagents and kits segment dominated the market share in 2023. This is attributed to increase in adoption of genotyping technologies across various applications, including research, diagnostics, agriculture, and forensic science, which drives the demand for reagents and kits used in genotyping assays. In addition, advancements in genotyping platforms and techniques require specialized reagents and kits tailored to specific applications, enhancing segment demand.

The sequencing segment dominated the market share in 2023

By technology, the sequencing segment dominated the market share in 2023. This is attributed to continuous advancements in sequencing technologies, including next-generation sequencing (NGS) , which offer high-throughput, accuracy, and scalability for genotyping applications which drive the segment growth. NGS enables comprehensive analysis of genetic variations, including single nucleotide polymorphisms (SNPs) and structural variants, across the entire genome, providing valuable insights into disease mechanisms, drug responses, and population genetics. In addition, the expanding application of NGS in clinical diagnostics, research, and agriculture further drive the adoption of sequencing-based genotyping solutions.

The diagnostics and personalized medicine segment dominated the market share in 2023

By application, the diagnostics and personalized medicine segment dominated the market share in 2023. This is attributed to increase in demand for genetic testing and tailored treatment approaches and the shift towards personalized medicine which drives the adoption of genotyping in clinical practice. In addition, the rising prevalence of genetic disorders and the growing emphasis on preventive healthcare contribute to the segment's growth. With ongoing technological advancements and expanding applications in healthcare, the diagnostics and personalized medicine segment is expected to continue driving innovation and market expansion in the genotyping industry.

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.

Recent Development

• In July 2023, QIAGEN announced the launch of the QIAseq Normalizer Kits that give researchers a fast, convenient and cost-effective method to pool different DNA libraries for best-quality results from next-generation sequencing (NGS) runs.
  
• In June 2022, Roche announced the launch of a human papillomavirus (HPV) self-sampling solution in countries accepting the CE mark. This new solution enables a patient to privately collect her sample for HPV screening while at a healthcare facility, following instructions provided by a healthcare worker. The clinically-validated vaginal sample is analyzed with the Roche cobas HPV test on a Roche molecular instrument.
  

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