Genotyping Market
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Genotyping Market size was valued at USD 18.2 billion in 2022 and is estimated to grow at a CAGR of 15.9% between 2023 and 2032. The market is experiencing robust growth, propelled by several key drivers that are shaping the landscape of genetic analysis.
The advent of high-throughput genotyping platforms have significantly enhanced the speed and accuracy of genetic testing, thereby fostering increased adoption across various research and clinical applications. Also, expanding scope of precision medicine and the growing significance of genomics in disease diagnostics and treatment planning are pivotal drivers fuelling the market growth. Additionally, surging interest in understanding genetic variations and their correlation with disease susceptibility, treatment response, and overall health outcomes is another key factor propelling the market forward.
Genotyping is the process of determining the genetic makeup of an individual or organism. It involves analysing an organism's DNA to identify variations in specific genes or genetic markers. These genetic variations can include single nucleotide polymorphisms (SNPs), insertions, deletions, or other type of mutations. Further, genotyping is widely used in various fields including genetics research, medicine, and forensics.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Genotyping Market size in 2022: | USD 18.2 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 15.9 |
| 2023 Value Projection: | USD 78 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 280 |
| Tables, Charts & Figures: | 482 |
| Segments Covered: | Products & Services, Technology, Application, End-use, & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The COVID-19 pandemic had a significant impact on the genotyping market. The demand for genotyping services witnessed both challenges and opportunities during the pandemic. The disruptions in supply chains, workforce limitations, and diversion of resources towards pandemic-related activities hampered the smooth functioning of genotyping laboratories in the early 2020. However, in the latter half, the increased focus on personalized medicine and understanding genetic predispositions to diseases fuelled the demand for genotyping, driving innovation and research in the field, therefore augmenting the market growth.
Based on products & services, the market is segmented into reagents & kits, instruments, and software & services. The reagents & kits segment dominated the market in 2022 with a revenue of USD 8.3 billion.
Based on technology, the genotyping market is segmented into PCR, sequencing, microarrays, capillary electrophoresis, Matrix-Assisted Laser Desorption/Ionization-Time of Flight (Maldi-TOF) mass spectroscopy, and other technologies. The PCR segment is further segmented into real-time PCR, digital PCR, and other PCR technologies. The PCR segment dominated the market in 2022 with a business share of 34.6%.
By application, the genotyping market is categorized into diagnostics & personalized medicine, pharmacogenomics, animal genetics, and other applications. The diagnostics & personalized medicine segment is poised for high growth and is anticipated to reach USD 28.7 billion by 2032.
By end-use, the genotyping market is segmented into academic & research institute, pharmaceutical & biotechnology companies, diagnostic centers, and other end-users. Wide application of genotyping data in research is anticipated to propel the growth of academic & research organizations.
North America accounted for the largest business share of 41.4% of the genotyping market in 2022.
The market is characterized by diverse players competing in the industry. Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., and Danaher Corporation account for significant market share. These prominent players thrive through a combination of strategic initiatives, investing in research and development, geographical expansion, strategic approaches, product diversification, and regulatory compliance.
The foremost market players operating in the genotyping industry is as mentioned below:
By Product & Services, 2018 – 2032 (USD Million)
By Technology, 2018 – 2032 (USD Million)
By Application, 2018 – 2032 (USD Million)
By End-use, 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries:
North America held 41.4% revenue share of the genotyping market in 2022 and is estimated to expand at a notable CAGR attributed to the technological advancements, increasing R&D activities, and the growing demand for personalized medicine.
Some of the major genotyping firms are Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN N.V, F. Hoffmann-La Roche Ltd., Danaher Corporation, Agilent Technologies, Inc., GE Healthcare Technologies Inc., and Bio-Rad Laboratories Inc., among others.
Genotyping industry size reached USD 18.2 billion in 2022 and is set to exhibit 15.9% CAGR from 2023 to 2032 driven by the advent of high-throughput genotyping platforms to offer enhanced speed and accuracy of genetic testing.
Genotyping industry from the reagents & kits segment generated USD 8.3 billion in revenue in 2022 and is estimated to record substantial growth through 2032 due to surging demand to facilitate accurate and high-throughput genotyping processes.