SNP Genotyping Research Report 2024: Global Market To Grow By Over $205 Billion By 2034 - Shift Towards Whole-Genome Sequencing, Integration Of AI And ML, Expansion Of Population Genomics Initiatives

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The "Snp Genotyping Market by Product, by Application, by Technology, by End-user, and by Region" report has been added to ResearchAndMarkets.com's offering.
The global SNP genotyping market accounted for USD 31.66 billion in 2023 and is expected to reach at USD 238.25 billion by 2034 with a CAGR of 20.14% during the forecast period 2024-2034. The market will grow as a result of developments in genotyping technologies, an increase in the prevalence of genetic disorders, growth in pharmacogenomics, regulatory support and initiatives, and clever alliances and collaborations.

Doctors can customize treatment regimens based on a patient's unique genetic composition thanks to SNP genotyping. This may result in less harmful treatments that are also more effective. SNP genotyping is used in pharmacogenomics to study how people react to certain drugs. It helps to create individualized medications and treatments. For instance, Thermo Fisher Scientific introduced the Applied BiosystemsTM AxiomTM Microbiome Array in April 2023, a novel genotyping tool intended for the study of the human microbiome.

North American region is anticipated to have the highest revenue share during the forecast period owing to its advanced healthcare infrastructure, supportive regulatory framework, and high adoption rate of genomic technologies.

Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing investments in healthcare infrastructure, rising awareness about genetic testing, and expanding research and development activities in the region. For instance, Luminex announced the release of the highly multiplexed Verigene II Respiratory Flex Assay, a molecular diagnostic test for respiratory infections, in January 2023.
By product, the consumables segment accounted for the highest revenue-grossing segment in the global SNP genotyping market in 2023 owing to the increasing demand for reagents and kits used in high-throughput genotyping processes. For instance, in January 2023, Illumina successfully acquired GRAIL, Inc., a healthcare organization that specializes in early cancer diagnosis. Additionally, the software and services segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for advanced data analysis tools and comprehensive genotyping services.
By application, the pharmaceuticals segment accounted for the highest revenue-grossing segment in the global SNP genotyping market in 2023 owing to the extensive use of SNP genotyping in drug development and personalized medicine. For instance, Agilent announced the release of the Agilent AriaMx Real-Time PCR System in December 2022, a new platform for precise gene expression analysis and SNP genotyping. Additionally, the diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for precision medicine and early disease detection.
By technology, the TaqMan SNP genotyping segment accounted for the highest revenue-grossing segment in the global SNP genotyping market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the high accuracy, specificity, and widespread adoption of TaqMan assays in various genotyping applications. For instance, QIAGEN introduced the QIAseq FX Single Cell DNA Library Kit in November 2022 as a solution for SNP genotyping and single-cell DNA sequencing.
By end-user, the pharmaceutical and biotechnology companies segment accounted for the highest revenue-grossing segment in the global SNP genotyping market in 2023 owing to the global SNP genotyping market in 2023 owing to the extensive use of SNP genotyping in drug discovery and development processes. For instance, Bio-Rad announced in February 2023 that it was launching the Bio-Rad S3TM NGS Library Construction Kit to expand its SNP genotyping offering. Additionally, the diagnostic centers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for genetic testing and personalized medicine services.

Key Attributes:

Report Attribute	Details
No. of Pages	200
Forecast Period	2023 - 2034
Estimated Market Value (USD) in 2023	$31.66 Billion
Forecasted Market Value (USD) by 2034	$238.25 Billion
Compound Annual Growth Rate	20.1%
Regions Covered	Global

Market Dynamics

Drivers Analysis

• Advancements in Genotyping Technologies
• Rise in Genetic Diseases
• Pharmacogenomics and Precision Medicine
• Rising Research Investments

Restraints Analysis

• High Cost of Genotyping
• Regulatory Challenges
• Ethical Concerns and Genetic Discrimination

Opportunities Analysis

• Expansion in Emerging Markets
• Integration with Healthcare Systems
• Development of Novel Applications

Threats Analysis

• Data Security and Privacy Concerns
• Intellectual Property Rights Issues
• Public Perception and Acceptance

Trend Analysis

• Shift towards Whole-Genome Sequencing
• Integration of AI and Machine Learning
• Expansion of Population Genomics Initiatives

Competitor Analysis

• Thermo Fisher Scientific Inc.
• Illumina Inc.
• Agilent Technologies Inc.
• QIAGEN N.V.
• Bio-Rad Laboratories Inc.
• Fluidigm Corporation
• Affymetrix Inc. (a subsidiary of Thermo Fisher Scientific)
• Luminex Corporation
• Roche Diagnostics (a division of F. Hoffmann-La Roche Ltd)
• Applied Biosystems (a brand of Thermo Fisher Scientific)
• Takara Bio Inc.
• PerkinElmer Inc.
• Agena Bioscience Inc.
• Eurofins Scientific
• GenScript Biotech Corporation

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034
• Study Coverage
• Market Forecast by Product, Application, Technology, and End-User
• Market Forecast for 5 Regions and 17+ Countries
• North America (U.S. and Canada)
• Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
• MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Major Market Players
• 20% Free Customization Available to Meet Your Exact Requirement

Market Environment Analysis

• Porter's 5 Forces Analysis
• PESTEL Analysis
• SWOT Analysis

SNP Genotyping Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)

• Consumables
• Instruments
• Service

SNP Genotyping Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)

• Pharmaceuticals
• Diagnostics
• Animal Livestock
• Biotechnology

SNP Genotyping Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)

• TaqMan SNP Genotyping
• Massarray SNP Genotyping
• SNP GeneChip Micro Arrays

SNP Genotyping Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)

• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutions
• Contract Research Organizations (CROs)
• Diagnostic Centers
• Agricultural Companies

SNP Genotyping Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA

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Attachment

• Global SNP Genotyping Market

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