Genotyping Market Worth $17.0 Billion by 2020
DALLAS, May 15, 2015 /PRNewswire/ --
According to a new market research report "Genotyping Market by Technology (Polymerase Chain Reaction, Sequencing, Microarray, Electrophoresis, MALDI_TOF), by Application (Pharmacogenomics, Diagnostic Research, Animal Genetics, Agricultural Biotechnology), by Products - Global Forecast to 2020", published by MarketsandMarkets, the global Genotyping Market is expected to reach $17.0 Billion in 2020 from $ 6.2 Billion in 2015, at a healthy CAGR of 22.3% from 2015 to 2020.
Browse 113 market data Tables and 37 Figures spread through 200 Pages and in-depth TOC on "Genotyping Market"
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Growth in this market is attributed to the increasing incidence of genetic diseases & increasing awareness about personalized medicine, technological advancements, decreasing prices of DNA sequencing, growing importance of SNP genotyping in drug development, and the increasing demand for genetic analysis in animal & plant livestock. However, the lack of appropriate reimbursement policies and a lack of technical know-how are curbing market growth to a certain extent.
The global Genotyping Market is segmented by products & services, technology, applications, end users, and region. This report also discusses the key market drivers, restraints, opportunities, and challenges for this market and submarkets. The market, by products & services, is segmented into instruments (sequencers & amplifiers, and analyzers), reagents & kits, bioinformatics software and genotyping services. The reagents & kits market segment accounted for the largest share of 49% of the global Genotyping Market in 2014. The accessibility of a wide range of reagents and increasing need for genotyping for assessing drug efficacy and safety, to personalize the treatment for chronic diseases, to develop good breeds of animals & plants are some of the factors that are expected to drive the genotyping reagents market.
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North America, a major market for global genotyping, occupied a major share in this market, closely followed by Europe. However, emerging countries in the Asia-Pacific region and the Rest of the World (Latin America) are expected to record strong growth during the forecast period. The Asia-Pacific market is expected to grow at a CAGR of 25.4% during the forecast period of 2015-2020. Countries like India, China, and Brazil will majorly drive market growth owing to the introduction of healthcare reforms, rising investments by public and private players to provide improved healthcare services in these countries, and the unmet medical needs of patients suffering from diseases such as cancer, diabetes and cardiovascular disease.
Key players in Genotyping 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.).
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