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 [https://www.transparencymarketresearch.com/genotyping-assay-market.html]. 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.
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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
-- Software
-- Services
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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