Genotyping Market – Global Industry Analysis and Forecast (2023-2029)

Genotyping Market is expected to reach USD 40.34 billion by 2029, with a CAGR of 15.6 % between 2022 and 2029.

Genotyping is a technique for determining a person's genetic make-up differences by studying the individual's DNA sequence using biological tests and comparing it to the sequence of another individual.By integrating qualitative and quantitative data, the research provides a holistic view of the market. It explores the global Genotyping market and anticipates important divisions. For the years 2022 to 2029, it also contains market size and forecast estimations for five important regions: North America, Europe, Asia-Pacific, the Middle East, and South America.To know about the Research Methodology :- Request Free Sample Report
Genotyping Market Dynamics
Chronic illnesses such as cancer and genetic disease are becoming more common throughout the world, which is expected to increase the demand for genotypic-based diagnostic testing. According to the World Health Organization, 19.1 million new cancer cases will be reported globally by the year 2022. Viruses that cause cancer, such as the Human Papilloma Virus (HPV) and Hepatitis B Virus (HBV)/Hepatitis C Virus (HCV), account for around 20% of cancer deaths globally. Based on population growth and aging, the number of cancer cases is expected to rise by roughly 70% over the next two decades. As a result, the increased prevalence of cancer is likely to be a significant market driver.

Reduced DNA sequencing prices, rising frequency of genetic illnesses, increasing relevance of SNP genotyping in drug development, increased awareness of personalized medicine, and rising demand for genotyping of animal and plant husbandry are all drivers driving the global genotyping market.

However, ambiguity in reimbursement for these items and a scarcity of skilled professionals are limiting factors in this market's growth. Growing genotyping application areas and increased investments by leading manufacturers generate market opportunities.
Genotyping Market Segmentation

By Technology, the PCR segment accounted for the largest market share in 2022. The increasing demand for advanced diagnostic techniques, forensic & research laboratories, and the growing prevalence of diseases like chronic & genetic disorders are the factors, which are driving the growth of the segment.

By Product, in 2022, the reagents and kits sector had the largest market share. During the forecast years, it is expected to grow at a CAGR of 15.8%. This is owing to expanding genetic testing demand, increased R&D spending, and increased genotyping testing volumes. Additionally, due to the increased usage of software-based services by research laboratories and academic institutions, the software & services segment is expected to grow at a high rate. Bioinformatics enhances the efficacy of sequencing procedures and aids in the avoidance of mistakes that might arise with standard sequencing methods. Agrigenomics, human illnesses, animal livestock, and microorganisms all benefit from these services. Over the projected period, all of the aforementioned reasons are expected to drive market growth.
Genotyping Market Regional Insight
In 2022, North America accounted for a 32.12 % share of the global Genotyping market. North America held the biggest market share in 2022, primarily due to the rising acceptance of technologically advanced goods, and the presence of major pharmaceutical and bio pharmaceutical businesses, government policies, and advancements in healthcare infrastructure. Another important aspect contributing to this region's high market share in the presence of big firms.

Europe is expected to grow at a CAGR of 16.5% during the forecast period. The availability of tremendous untapped development may be ascribed to a variety of causes, including technical improvements and the region's expanding pharma and biopharma sector. The Asia Pacific area is expected to have the most prospects, and a rising number of clinical trials are being done there.

Report Objectives:

Landscape analysis of the Genotyping Market
Competitive benchmarking
Past and current status of the industry with the forecasted market size and trends
Evaluation of potential key players that include market leaders, followers, and new entrants
Technology trends
The potential impact of micro-economic factors on the market
External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Genotyping Market dynamics, and structure by analysing the market segments to project the Genotyping Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Genotyping Market make the report investor’s guide.
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Genotyping Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 14.62 Bn


Forecast Period 2023 to 2029 CAGR:
15.6 %
Market Size in 2029:
US $ 40.34 Bn.


 Segments Covered:
by Product
PCR
Capillary Electrophoresis
Microarray
Sequencing
Mass Spectrometry
Others


by Type
Instruments
Reagents & Kits
Software & Services


by Application
Pharmacogenomics
Diagnostics And Personalized Medicine
Agricultural Biotechnology
Animal Genetics
Others



Genotyping Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Genotyping Market Key Players
1. Illumina, Inc
2. Thermo Fisher Scientific Inc.
3. Qiagen Inc.
4. F. Hoffmann-La Roche Ltd.
5. Fluidigm Corporation
6. Danaher Corporation
7. Agilent Technologies Inc.
8. Eurofins Scientific Inc.
9. GE Healthcare Inc.
10. Bio-Rad Laboratories Inc

Frequently Asked Questions

1. What is the projected market size & growth rate of the Genotyping Market?
Ans- The Genotyping Market was valued at USD 14.62 billion in 2022 and is projected to reach USD 40.34 billion by 2029, growing at a CAGR of 15.6 % during the forecast period.

2. What is the key driving factor for the growth of the Genotyping Market?
Ans- the increased prevalence of cancer is likely to be a significant market driver.

3. Which Region accounted for the largest Genotyping Market share?
Ans- In 2022, North America accounted for 32.3 % share of the global Genotyping market.

4. What makes North America a Lucrative Market for Genotyping Market?
Ans- North America held the biggest market share in 2022, primarily due to the rising acceptance of technologically advanced goods, and the presence of major pharmaceutical and biopharmaceutical businesses.

5. What are the top players operating in the Genotyping Market?
Ans- Illumina, Inc, Thermo Fisher Scientific Inc., Qiagen Inc., and F. Hoffmann-La Roche Ltd.