Genotyping Market Size Estimated to be Worth USD 154.35 Billion by 2031, at 22.5% CAGR: The Insight Partners

The genotyping market in North America is expected to grow from US$ 11,734.10 million in 2022 to US$ 37,599.28 million by 2028. It is estimated to grow at a CAGR of 21.4% from 2022 to 2028.

NEW YORK, Dec. 10, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, Global Genotyping Market value is expected to reach US$ 154.35 billion by 2031 from US$ 30.44 billion in 2023 at a CAGR of 22.5%. Genotyping involves determining an individual's genetic makeup by analyzing their DNA sequence. It identifies minor genetic differences that can lead to variations in physical traits and reveal predispositions to certain diseases. By comparing DNA to reference sequences or other individuals, genotyping enhances the understanding of inherited traits. This technique is vital in clinical research, diagnostics, and agriculture, as it is employed in determining the risk of genetic disorders or diagnosing them, developing personalized medicine, and improving crop resilience.

The List of Companies - Genotyping Market –

• F. Hoffmann-La Roche Ltd
• QIAGEN NV
• Merck KGaA
• Eurofins Genomics
• Thermo Fisher Scientific Inc
• BioTek Instruments Inc
• Xcelris
• Trimgen Corporation
• Illumina Inc
• Danaher Corp

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1. Introduction of Advanced Technologies: Ongoing advancements in genotyping technologies are driving market growth. Innovations including next-generation sequencing (NGS) and CRISPR-based techniques improve the accuracy and efficiency of genetic analysis, lower costs and turnaround times, thereby making genotyping more attractive to both healthcare providers and researchers. As these technologies progress, they allow for more comprehensive genetic profiling, broadening the applications of genotyping across various fields. For instance, in January 2024, Thermo Fisher Scientific launched Axiom PangenomiX Array, offering optimal genetic coverage for pharmacogenomic research and population-scale disease studies. This array is currently the only solution that can run four assays in one test: SNP genotyping, complete genome copies number variant detection, fixed copy number discovery, and blood and HLA typing.
2. Increasing Prevalence of Genetic Disorders: The prevalence of genetic disorders is rising worldwide, resulting in a growing demand for genetic testing and genotyping services. The demand for genetic testing rises with the awareness of hereditary conditions, and this type of testing utilizes genotyping techniques to identify predispositions and inform treatment options. This trend is evident in both clinical settings and direct-to-consumer testing, making genetic data more accessible. Improved screening and early diagnosis are among other benefits that contribute to the rising need for genotyping services.
3. Geographical Insights: In 2023, North America led the genotyping market with a substantial revenue share, followed by Europe and APAC, respectively. Asia Pacific is projected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on product type, the genotyping market is segmented into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment is likely to hold the largest share of the market in 2023.
• Based on technology, the genotyping market is segmented into polymerase chain reaction (PCR), capillary electrophoresis, sequencing, microarrays, matrix-assisted laser desorption/ionization-time of flight (MALDI-ToF), mass spectrometry, and Others. The polymerase chain reaction (PCR) segment held the largest share of the market in 2023.
• In terms of application, the genotyping market is segmented into diagnostics and personalized medicine, pharmacogenomics, animal genetics, agricultural biotechnology, and Others. The diagnostics and personalized medicine segment held the largest share of the market in 2023.
• Based on end user, the genotyping market is segmented into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. The pharmaceutical and biopharmaceutical companies segment held the largest share of the market in 2023.
• The genotyping market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

Segments Covered   

By Product Type

• Instruments
• Reagents and Kits
• Bioinformatics
• Genotyping Services

By Technology 

• Microarray
• Capillary Electrophoresis
• Sequencing
• Polymerase Chain Reaction
• Matrix-Assisted Laser Desorption/MALDI-TOF
• Other Technologies

By Application

• Pharmacogenomics
• Diagnostics and Personalized Medicine
• Animal Genetics
• Agricultural Biotechnology
• Other Applications

By End User

• Pharmaceutical and Biopharmaceutical Companies
• Diagnostic and Research Laboratories
• Academic Institutes
• Other End Users

Competitive Strategy and Development

• Key Players: A few of the major companies operating in the genotyping market include Hoffmann-La Roche Ltd, QIAGEN NV, Merck KGaA, EUROFINS GENOMICS, Thermo Fisher Scientific Inc, BioTek Instruments, Inc, XCELRIS GENOMICS, TRIMGEN CORPORATION, Illumina Inc, Danaher Corp, Danaher Corp, GE HealthCare Technologies Inc, Standard BioTools Inc, Laboratory Corp of America Holdings, and Beckman Coulter Inc.
• Trending Topics: DNA Microarray, Next-Generation Sequencing (NGS), Genetic Testing, Polymerase Chain Reaction (PCR), Biobanking, Clinical Diagnostics, Pharmacogenomics, Genomics, Molecular Diagnostics, and Agrigenomics

Global Headlines on Genotyping

• Bio-Rad Laboratories, Inc. launched PTC Tempo 48/48 and PTC Tempo 384 Thermal Cyclers, developed to support PCR applications in basic and translational research, quality control,  and process development.
• TIB Molbiol, a subsidiary of Roche, rapidly developed additional testing options to differentiate mutations in the Omicron SARS-CoV-2 variant as it continues to offer new and accurate detection solutions.
• Thermo Fisher Scientific Inc. introduced new-generation mass spectrometry instruments, workflows, and software.
• Standard BioTools Inc. launched NGS library preparation functionality on the X9 High-Throughput Genomics System.

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Conclusion

The rising demand for genotyping technologies for the diagnosis of prevalent genetic disorders, including cystic fibrosis, alpha- and beta-thalassemias, and sickle cell anemia, drives the genotyping market growth. R&D activities and investments lead to a significant focus on reagents and kit formulation development for genotyping technologies, which contributes substantially to the launch of rapid and reliable diagnostics solutions for the treatment of genetic and rare diseases. Further, technological advancements in DNA sequencing, such as NGS, have enabled speedy, accurate sequencing, allowing for great productivity. Such technological breakthroughs have the potential to enable miniaturization, automation, and cost reduction. They can also aid in operational flexibility and multiparameter testing. All these benefits add to the convenience of DNA sequencing, allowing clinicians to concentrate on higher-level decisions such as selecting and prioritizing therapeutic targets through various genotyping studies.

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