Genotyping Market Expected To Reach $37.1 Billion By 2024 Due To Rising Occurrence of Genetic Diseases And Growing Demand For Pharmacogenomics in Drug Discovery | Million Insights

July 29 06:37 2021
Genotyping Market Expected To Reach $37.1 Billion By 2024 Due To Rising Occurrence of Genetic Diseases And Growing Demand For Pharmacogenomics in Drug Discovery | Million Insights

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According to new report available with Million Insights, the global genotyping industry report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

Global Genotyping Market is expected to reach USD 37.1 billion by 2024. Genotyping is termed as a technology that detects small genetic differences, which may lead to a major change in phenotype. It is exclusively used across basic scientific research, agriculture, and medicine. It examines differences in genetic complement by comparing DNA sequence to a sample sequence. It recognizes small variations in genetic sequence within populations like SNPs. The Genotyping Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

Growing availability of several types of products, decreasing cost of DNA sequencing, rising awareness and occurrence of genetic diseases, increasing use of plant and animal livestock for genetic analysis, and growing demand for pharmacogenomics in drug discovery & development are documented as major factors of Genotyping Market that are estimated to enhance the growth in the years to come. However, lack of trained personnel’s may restrain overall market growth in the coming years. Genotyping Market is segmented based on product type, technology, application, end users, and region.

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Genotyping Services, Instruments, Bioinformatics Software, and Reagents & Kits are the product types that could be explored in Genotyping in the forecast period. Instruments sector comprises of analyzers and sequencer & amplifiers. Reagents and kits sector is estimated to grow at highest CAGR in the coming years.

MALDI-TOF, Microarrays, Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Sequencing, and other technologies may be explored in Genotyping in the forecast period. Polymerase Chain Reaction sector comprises Digital PCR and Real-Time PCR. Capillary Electrophoresis sector comprises Single Strand Conformation Polymorphism (SSCP), Restriction Fragment Length Polymorphism (RFLP), and Amplified Fragment Length Polymorphisms (AFLP). On the other hand, sequencing sector includes Pyrosequencing, Next-generation Sequencing (NGS), and Sanger Sequencing. Others may include allele specific oligonucleotide (ASO) probes and in situ hybridization.

The market may be categorized based on applications like Agricultural Genotyping, Pharmacogenomics, Animal Genetics, Diagnostic research, and others that could be explored in Genotyping in the forecast period. Others may include microbial genotyping, prenatal testing, forensics, and parental testing. Academic institutions, pharmaceutical & biopharmaceutical companies, diagnostic & research laboratories, and others are the end users that could be explored in Genotyping in the forecast period.

Globally, North America accounted for the substantial market share of Genotyping and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be rising awareness among people regarding personalized medicines, developed healthcare infrastructure, and rising use of enhanced technology. The United States is a major consumer of Genotyping in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise availability of several untapped market opportunities, rising economic stability, high disposable income, and developing healthcare infrastructure.

The key players of Genotyping industry are Fluidigm Corporation, Affymetrix, Inc., GE Healthcare, Illumina, Inc., Roche, Thermo Fisher Scientific, Inc., Sequenom, Inc., QIAGEN N.V., Beckman Coulter, and Agilent Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

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Market Segment:

Genotyping Market Product Outlook, by Revenue (USD Million, 2013 – 2024)
    • Instruments
    • Reagents and kits
    • Services

Genotyping Market Technology Outlook, by Revenue (USD Million, 2013 – 2024)
    • Polymerase Chain Reaction(PCR)
    • Capillary Electrophoresis
    • Mass Spectrometry
    • Sequencing
    • Microarray
    • Other

Genotyping Market Application Outlook, by Revenue (USD Million, 2013 – 2024)
    • Diagnostics
    • Drug Discovery and Development
    • Personalized Medicine
    • Academic Research
    • Agriculture
    • Others

Genotyping Market Regional Outlook, by Revenue (USD Million, 2013 – 2024)
    • North America
        • U.S.
        • Canada
    • Europe
        • UK
        • Germany
    • Asia Pacific
        • Japan
        • China
    • Latin America
        • Brazil
    • MEA
        • South Africa

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