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The genotyping market size is projected to reach US$ 154.35 billion by 2031 from US$ 30.44 billion in 2023. The market is expected to register a CAGR of 22.5% during 2023–2031. A diverse range of applications of genotyping, including personalized medicine, agriculture, and animal breeding, owing to growing awareness efforts and campaigns would continue to be key trends in the market.
Genotyping Market Analysis
The development of high-throughput genotyping technologies as next-generation sequencing and microarray analysis has benefitted the genotyping market. The subsequently increasing use of genotyping in agriculture and animal breeding to improve crop yields, develop disease-resistant crops, and enhance livestock production is one of the key drivers for the genotyping market growth. The ongoing R&D activities in genomics, genetics, and related fields, leading to the discovery of new genetic markers and associations with diseases, are also contributing to the market progress.
Genotyping Market Overview
India has a relatively high prevalence of genetic disorders due to its vast population, high birth rate, and the preference for consanguineous marriage in some communities. Research and development (R&D) work is being carried out on human genetics, genome analysis, and precision medicine to potentially reduce the burden of such diseases by comprehending the mutation spectrum of diseases. These R&D programs are focused on implementing prenatal and newborn screening programs, developing cost-effective diagnostic methods for genetic diseases and affordable therapies for these diseases, and creating personalized medicine regimens.
Genetic disorders such as cancer are prevalent in India. According to the WHO, ~1.41 million people in India were suffering from cancer in 2022. The article titled "Breast Cancer Survival in India Across 11 Geographic Areas Under the National Cancer Registry Programme" lists breast cancer as the most common cancer in the country, as it accounts for ~28.2% of all cancer cases in females; ~ 216,108 breast cancer cases were reported in women in 2022.
Major programs and initiatives in the genomic research in India are mentioned below:
- DBT – Unique Methods of Management of Inherited Disorders (UMMID) Initiative
- GenomeIndia
- Human Microbiome Initiative of select endogamous populations of India
- Program on Monogenic disorders
- National Genomics Core
Thus, a surging number of programs and initiatives in genomic research would offer significant opportunities for the genotyping market growth in India in the coming years.
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Genotyping Market: Strategic Insights
Market Size Value in US$ 25,191.28 million in 2022 Market Size Value by US$ 79,407.14 million by 2028 Growth rate CAGR of 20.1% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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Genotyping Market: Strategic Insights
| Market Size Value in | US$ 25,191.28 million in 2022 |
| Market Size Value by | US$ 79,407.14 million by 2028 |
| Growth rate | CAGR of 20.1% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Genotyping Market Drivers and Opportunities
Use in Diagnosis of Genetic and Rare Diseases to Favor Market
According to the World Health Organization (WHO), ~35 million new cancer cases are likely to occur by 2050, a 77% increase from the corresponding 20 million cases in 2022. In 2022, the Alzheimer's Association stated that the number of people living with Alzheimer's in the US is rapidly increasing. The disease affects more than 6 million Americans from all age groups. As per the association's estimates, 6.5 million Americans aged more than 65 suffered from Alzheimer's as of 2022, and 73% of this population was aged 75 or older. As per a study published in the Journal of Health Monitoring, up to 300 million people worldwide suffer from rare diseases. Although individual diseases are rare, they collectively pose significant challenges to the global healthcare system.
Since cancer, Alzheimer's disease, and rare diseases are challenging to identify clinically, genotyping stands as the backbone of diagnostic testing in the population. DNA sequences obtained from genotyping can be compared to sample or reference sequences to determine variations. Genotyping is also employed to detect single-nucleotide polymorphisms (SNPs), which are minor variations in genetic complement within the population. The human genome has nearly 660 million SNPs, which makes them the most widespread genetic variation. Moreover, by comparing polymorphisms in healthy and diseased populations, genome-wide association studies (GWAS) can uncover links between common illnesses and SNPs. GWAS can untangle the molecular mechanisms in underlying disease states by finding probable causes. SNPs are even present in single-celled organisms, such as bacteria. SNP genotyping can differentiate between microbial isolates and could even be accustomed to identifying antibiotic-resistant strains. SNP-based strain detection has a significant impact on each pharmaceutical and clinical analysis, and it has also been used in infectious disease epidemiology.
Thus, the use of genotyping techniques in the diagnosis of genetic and rare diseases bolsters the genotyping market.
Expanding Range of Applications to Offer Opportunity for Market
Genotyping holds potential applications in diagnostic research, pharmacogenomics, and agricultural biotechnology. Moreover, this technique is suitable for a variety of plant breeding, forensic, and environmental testing procedures. Pharmaceutical companies are profiting from the availability of polygenic risk scores, substantial genetic databases linked to patient health information, and the sequencing data of clinical trial participants, among other advancements. The Industry Pharmacogenomics Working Group (I-PWG), an association of pharmaceutical companies, is actively involved in pharmacogenomic research. The I-PWG comprises 26 member companies that undertake numerous clinical trials annually, collecting DNA samples of study subjects as part of the protocol. With its focus on clinical pharmacogenomics, the I-PWG aims to generate opportunities for pharmaceutical companies in the coming years. In addition to its most frequent use in oncology research, clinical pharmacogenomics is also used for PGx studies conducted in non-oncology therapeutic areas such as rare diseases, immunology, and cardiology. A more comprehensive study involving the NGS of clinical trial samples allows for an elaborate genomic evaluation of trial participants, revealing both common and rare genetic variations. PGx includes the study of polymorphic differences in the determination of genomic-level drug/xenobiotic effects, drug response and disease susceptibility, and genotype/phenotype relationships. Therefore, the greater adoption of genotyping in various research areas would eventually lead to a rise in the demand for these techniques, creating significant opportunities in the market in the coming years.
Genotyping Market Report Segmentation Analysis
Key segments that contributed to the derivation of the genotyping market analysis are product type, technology, application, and end user.
- Based on product type, the genotyping market is divided into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held the largest market share in 2023.
- Based on technology, the genotyping market is divided into microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption/ionization-time of flight (MALDI-ToF) mass spectrometry, polymerase chain reaction (PCR), and others. The PCR segment held the largest market share in 2023.
- By application, the genotyping market is segmented into pharmacogenomics, diagnostics and personalized medicine, 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 divided into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. The pharmaceutical and biopharmaceutical companies segment held the largest market share in 2023.
Genotyping Market Share Analysis by Geography
The geographic scope of the genotyping market report is mainly divided into five regions: North America, Asia Pacific, Europe, and the Middle East & Africa. North America dominated the market in 2023. Increasing adoption of technologically advanced products and solutions, and surging research and development activities are the factors benefiting the genotyping market in this region. Moreover, government-led programs such as the "All of Us Research Program," initiatives by various genomic communities, and the increasing awareness of genotyping services propel the market expansion across North America. Asia Pacific is anticipated to register the highest CAGR during the forecast period.
Genotyping Market Report Scope
Genotyping Market News and Recent Developments
The genotyping market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
- Standard BioTools Inc. launched NGS library preparation functionality on the X9 High-Throughput Genomics System. With this launch, customers can now perform real-time PCR and next-generation sequencing (NGS) library prep applications on a single benchtop system for the first time to support discovery through screening. (Source: Standard BioTools Inc., Company Website, May 2023)
- Bio-Rad Laboratories, Inc. launched PTC Tempo 48/48 and PTC Tempo 384 Thermal Cyclers, designed to support PCR applications in basic and translational research, process development, and quality control. The PTC Tempo 48/48 and PTC Tempo 384 Thermal Cyclers are the latest additions to the Bio-Rad portfolio of conventional PCR thermal cyclers. (Source: Bio-Rad Laboratories, Inc., Company Website, September 2022)
Genotyping Market Report Coverage and Deliverables
The "Genotyping Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Genotyping market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Genotyping market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Genotyping market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the genotyping market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and Service, Technology, Application, End-User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The increasing popularity of personalized medicine would persist as a prime trend in the market in the coming years.
North America dominated the market in 2023.
The use in the diagnosis of genetic and rare diseases, and technological advancements and rising R&D investments in the biotechnology and pharmaceutical industry are among the most significant factors fueling the market growth.
The genotyping market value is expected to reach US$ 154.35 billion by 2031.
The market is expected to register a CAGR of 22.5% during 2023–2031.
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, Bio-Rad Laboratories, HE Healthcare Technologies, Standard Biotools Inc, Laboratory Corp of America Holdings, Beckmann Coulter, BGI, Takara Bio, and Diasorin Spa are among the key players in the market.
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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