Expansion of personalized medicine approaches that require
detailed genetic information to tailor treatments to individual
patients, thereby driving the demand for genotyping assays.
WILMINGTON, Del., July 15,
2024 /PRNewswire/ -- The genotyping assays
market was projected to attain US$ 30.5
billion in 2023. It is likely to garner a 22.5% CAGR from
2024 to 2034, and by 2034, the market is expected to attain
US$ 285.3 billion. Broadened
applications of genotyping in areas such as drug discovery,
agriculture, forensic science, and animal breeding. Adoption of AI
and machine learning in data analysis, improving the efficiency and
accuracy of genotyping assays.
Rising popularity of DTC genetic testing kits that allow
consumers to access genetic information without the need for a
healthcare provider, driving market growth. Development of
automated and miniaturized genotyping platforms that offer high
throughput and ease of use. Growing research focus on rare
diseases, leading to the development of specialized genotyping
assays for their detection and study. Expanding applications in
agriculture for crop and livestock improvement, which could open
new revenue streams.
Increased focus on cancer genotyping for precision oncology,
enabling better-targeted therapies and improving patient outcomes.
Growth in non-invasive prenatal testing, which uses genotyping
assays to detect fetal genetic abnormalities. Advancements in
regenerative medicine and stem cell research requiring detailed
genetic analysis, thereby boosting demand for genotyping assays.
The rising number of infectious diseases and pandemics (e.g.,
COVID-19) has highlighted the need for genotyping assays in
tracking pathogen evolution and transmission.
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Decreasing costs of sequencing technologies making genotyping
more accessible and affordable for research and clinical
applications. Expansion of biobanks and genetic databases providing
extensive genetic information that can be leveraged for genotyping
research and development.
Key Findings of Market Report
- Integration of genotyping data with other omics data (e.g.,
proteomics, metabolomics) for a more comprehensive understanding of
disease mechanisms and personalized treatment strategies.
- Growth of platforms facilitating the sharing of genetic data
and collaboration among researchers and clinicians to accelerate
discoveries and clinical applications.
- Trends towards sustainable and regenerative agricultural
practices driving the demand for genotyping to optimize crop traits
and resistance.
- The rise of digital health platforms and telemedicine
incorporating genotyping information to provide remote and
personalized healthcare services.
Market Trends for Genotyping Assays
- By product and service, the reagents & kits segment is
expected to propel the growth of the genotyping assays market.
- Reagents and kits are essential for a wide range of genotyping
applications, including PCR, sequencing, and SNP genotyping, making
them indispensable in both research and clinical settings.
- Innovations in reagent and kit formulations are enhancing the
efficiency, accuracy, and speed of genotyping assays, which drives
their adoption.
- On the basis of technology, the next-generation sequencing sub
segment of the sequencing segment is anticipated to accelerate the
market growth.
- NGS technologies can sequence millions of DNA fragments
simultaneously, providing comprehensive genetic information quickly
and efficiently compared to traditional methods.
- Continuous advancements in NGS technologies have significantly
reduced the cost of sequencing, making it more accessible for both
research and clinical applications.
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Genotyping Assays Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 30.5 Bn
|
Forecast (Value) in
2034
|
US$ 285.3 Bn
|
Growth Rate
(CAGR)
|
22.5 %
|
No. of
Pages
|
198
Pages
|
Segments
covered
|
By Product &
Service, By Technology, By Application,
By End-user, By
Region
|
Global Market for Genotyping Assays: Regional
Outlook
North America
- North America has a
well-developed healthcare infrastructure with a high adoption rate
of advanced medical technologies, facilitating the integration of
genotyping assays in clinical practice.
- Extensive research and development activities in genomics and
biotechnology, driven by both public and private sectors, are
enhancing the capabilities and applications of genotyping
assays.
Asia Pacific
- Increased awareness about the benefits of personalized medicine
and its adoption in clinical practice are driving the demand for
genotyping assays to tailor treatments based on individual genetic
profiles.
- The rise in popularity of direct-to-consumer genetic testing
services in countries like China,
Japan, and South Korea is expanding the market. Companies
offering these services are making genetic testing more accessible
to the general public.
Genotyping Assays Market: Key Players
The competitive landscape of the genotyping assays market is
characterized by a diverse array of companies ranging from large
multinational corporations to specialized biotechnology firms.
These companies compete based on technological advancements,
product offerings, geographical presence, pricing strategies, and
strategic collaborations. The following companies are well known
participants in the genotyping assays market:
- Illumina, Inc.
- Thermo Fisher Scientific
- QIAGEN N.V.
- Agilent
- Danaher Corporation
- Roche
- GE HealthCare
- Standard BioTools Inc.
- PerkinElmer
- Eurofins Scientific SE
- Bio-Rad Laboratories
- Pacific Biosciences of California Inc.
- GENEWIZ Inc.
- Integrated DNA Technologies Inc.
Key Developments
- In March 2024, Bio-Rad
Laboratories, Inc. achieved a significant milestone with the
approval of its dd-Check STEC Solution by AOAC INTERNATIONAL. This
marks the first instance of a Droplet Digital PCR method receiving
AOAC approval.
- In the same year, Thermo Fisher Scientific and Bayer announced
a collaboration to develop companion diagnostic assays using
next-generation sequencing (NGS). These assays aim to identify
patients who may benefit from Bayer's expanding lineup of precision
cancer therapies. The partnership focuses on decentralized genomic
testing to ensure rapid test results for effective patient
care.
Genotyping Assays Market Segmentation
Product & Service
- Reagents & Kits
- Genotyping Services
- Instruments
- Sequences & Amplifiers
- Analyzers
- Bioinformatics
Technology
- PCR
- Real-time PCR
- Digital PCR
- Microarrays
- Sequencing
- NGS
- Pyrosequencing
- Sanger Sequencing
- Capillary Electrophoresis
- Amplified Fragment Length Polymorphism
- Restricted Fragment Length Polymorphism
- Single-Stranded Conformation Polymorphism
- MALDI-TOF
- Others (Allele-specific Oligonucleotide (ASO) Probes,
Fluorescence in Situ Hybridization (FISH), etc.)
Application
- Pharmacogenomics
- Diagnostic & Personalized Medicine
- Agricultural Biotechnology
- Animal Genetics
- Others (Prenatal Testing, Human Forensics, Microbial Genomic
Studies, Aquaculture Breeding Studies, etc.)
End User
- Pharmaceutical & Biopharmaceutical Companies
- Diagnostic & Research Laboratories
- Academic Institutes
- Others (Animal and Aquagenetics Companies, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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