NEW YORK, June 11, 2015 /PRNewswire/ -- Genotyping is used to study genetic variation in the genotypes of living organisms, including humans, animals, plants, and microorganisms. The genotyping market is mainly driven by technological advancements, increasing incidence of genetic diseases and awareness on personalized medicine, decreasing prices of DNA sequencing, growing importance of SNP genotyping in drug development, and the growing demand for genotyping of animal and plant livestock. However, ambiguity in the reimbursement for these products and a lack of well-trained lab technicians are drivers expected to restrain the growth of this market in the forecast period.
The market in this report is broadly segmented based on products and services, technology, applications, and end users. The market, by technology, is segmented into microarrays, capillary electrophoresis, polymerase chain reaction (PCR), sequencing, MALDI-TOF, allele specific oligonucleotide (ASO) probes, and others (in situ hybridization). Sequencing market is forecasted to grow at a highest CAGR 27.7% over the forecast period of 2015-2020, owing to its high speed, accuracy, flexibility, and increasing application areas.
Based on application, the market is segmented into pharmacogenomics, diagnostic research, animal genetics, agricultural biotechnology, and others (prenatal testing, parental testing, forensics, and microbial genotyping). The pharmacogenomics segment is expected to grow at a highest CAGR of 23.4% during the forecast period. The high growth in this segment is attributed to increasing use of genotyping in drug development process & to analyze the effects of drug.
The global genotyping market is expected to grow at a CAGR of 22.3% during the forecast period of 2015 to 2020 to reach $17.0 billion in 2020. Genotyping tests are increasingly being used in drug discovery and development process and to provide personalized therapy, factors that are driving market growth. In addition to this, heavy investments by key manufacturers to offer advanced and innovative products for wider applications are also propelling market growth.
Developed regions like North America and Europe will grow comparatively slower than emerging markets like Asia-Pacific and RoW (Latin America). Emerging countries are expected to record strong growth. Growth will be centered on countries like India, China, and Brazil owing to rising investments by public and private players in these countries, improving healthcare infrastructure, increase in the number of clinical research organizations and clinical trials in these countries, and the focus of leading players to capture growth opportunities in these markets.
Some prominent players in this market include Affymetrix, Inc. (U.S.), Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies (U.S.), Beckman Coulter (U.S.), Sequenom, Inc. (U.S.), Roche (Switzerland), GE Healthcare (U.K.), and Fluidigm Corporation (U.S.). Various strategies such as collaborations, expansions, and new product launches helped these companies to maintain their market share and grow in this competitive market.
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The report will enrich both established firms as well as new entrants/smaller firms, and allow them to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use one or a combination of the below mentioned strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by top players in the genotyping market. The report analyzes the genotyping market by products and applications.
- Product Development/Innovation: Detailed insights on upcoming trends, research and development activities, and new product launches in the genotyping market.
- Market Development: Comprehensive information about lucrative emerging markets by product & services, technology, application, end user, and region.
- Market Diversification: Exhaustive information about new products, geographies, recent developments, and investments in the genotyping market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, manufacturing capabilities, and SWOT analyses of leading players in the genotyping market.
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