According to our new research study on "Genotyping Market Forecast to 2031 - Global Analysis - by Product Type, Technology, Application, End User, and Geography," the market is anticipated to grow from US$ 30.44 billion in 2023 and is projected to reach US$ 154.35 billion by 2031; it is expected to register a CAGR of 22.5% during 2023-2031. Use in the diagnosis of genetic and rare diseases, and technological advancements and rising R&D investments in the biotechnology and pharmaceutical industries are among the factors contributing to genotyping market growth. However, the high cost of equipment and shortage of skilled professionals hamper the market growth. Further, the increasing popularity of personalized medicine is expected to bring new genotyping market trends in the coming years.
Genotyping are among the most promising avenues in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The genotyping market is constantly growing because pharma and biotechnology companies enormously invest in improving their production facilities. The increasing number of cases and diagnoses of chronic diseases requires the availability of sophisticated diagnostic and treatment drugs, which has boosted the global genotyping market. Furthermore, rising demand, higher acceptance of innovative therapies, and increasing clinical trials are expected to drive market growth. However, approving biosimilars is one of the main aspects limiting the genotyping market expansion.
North America accounted for a major share of the global genotyping market in 2023. The North America genotyping market is segmented into the US, Canada, and Mexico. 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 are the key drivers of the market expansion across North America.
The ongoing "All of Us Research Program" led by the National Institutes of Health (NIH) provided US$ 28.6 million in funding to develop three genome centers across the US. This research program aims to accelerate precision medicine discoveries through genotyping services in different institutions in the US. Similarly, the "My Life, Our Future" project was initiated to carry out genotyping of hemophilia patients and to build a biorepository as a research resource for the future. Further, a rapid surge in healthcare expenditure reflects the increasing availability of new diagnostic tools for genetic diseases and cancer. The flourishing pharmaceutical and biopharmaceutical industry creates a conducive environment for the genotyping market in the US. Market players in this country have registered various patents for their innovations.
Governments and private agricultural associations are highly focused on advancements in crop genomics to improve the characteristics of crops. The Agricultural Genome to Phenome Initiative (AG2PI) of the National Institute of Food and Agriculture focuses on collaborative engagements to develop a community of researchers studying both crop and animal genetics, which would lay the foundation for expanding knowledge about genomes and phenomes that are important to the agriculture sector in the US. The initiative is likely to result in the development of approaches to understanding how variable weather, environments, and production systems impact genetic diversity in crops and animals. Thus, the rising number of initiatives taken to foster studies related to the genetic makeup of crops for yield and quality improvement are likely to favor the genotyping market in the US in the future.
In addition to its most frequent use in oncology research, it 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.
Genotyping-by-sequencing (GBS) is a new method to locate and genotype SNPs in crop genomes and human genome by using NGS methods. GBS is developed and deployed in sequencing multiple samples by incorporating molecular markers in the process to further enhance NGS applications in giant crop genome sequencing, such as maize and wheat. High-throughput SNPs detected by GBS are widely used in genetic diversity analysis, genome-wide association studies (GWAS), QTL mapping, and genome prediction (GP) in many plant species. NGS technology has transformed modern biology with high throughput and low cost. With remarkable advancements unlocked by NGS technologies, whole-genome sequencing provides ultra-throughput sequences that revolutionize plant genotyping and breeding. Sequencing by synthesis (SBS) and multiplexing greatly enhance the efficiency of the sequence.
Therefore, 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.
The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Organisation for Economic Co-operation and Development are among the primary and secondary sources referred to while preparing the genotyping market report.
Genotyping are among the most promising avenues in the pharmaceutical industry, offering a unique approach to treating various diseases and medical conditions. The genotyping market is constantly growing because pharma and biotechnology companies enormously invest in improving their production facilities. The increasing number of cases and diagnoses of chronic diseases requires the availability of sophisticated diagnostic and treatment drugs, which has boosted the global genotyping market. Furthermore, rising demand, higher acceptance of innovative therapies, and increasing clinical trials are expected to drive market growth. However, approving biosimilars is one of the main aspects limiting the genotyping market expansion.
North America accounted for a major share of the global genotyping market in 2023. The North America genotyping market is segmented into the US, Canada, and Mexico. 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 are the key drivers of the market expansion across North America.
The ongoing "All of Us Research Program" led by the National Institutes of Health (NIH) provided US$ 28.6 million in funding to develop three genome centers across the US. This research program aims to accelerate precision medicine discoveries through genotyping services in different institutions in the US. Similarly, the "My Life, Our Future" project was initiated to carry out genotyping of hemophilia patients and to build a biorepository as a research resource for the future. Further, a rapid surge in healthcare expenditure reflects the increasing availability of new diagnostic tools for genetic diseases and cancer. The flourishing pharmaceutical and biopharmaceutical industry creates a conducive environment for the genotyping market in the US. Market players in this country have registered various patents for their innovations.
Governments and private agricultural associations are highly focused on advancements in crop genomics to improve the characteristics of crops. The Agricultural Genome to Phenome Initiative (AG2PI) of the National Institute of Food and Agriculture focuses on collaborative engagements to develop a community of researchers studying both crop and animal genetics, which would lay the foundation for expanding knowledge about genomes and phenomes that are important to the agriculture sector in the US. The initiative is likely to result in the development of approaches to understanding how variable weather, environments, and production systems impact genetic diversity in crops and animals. Thus, the rising number of initiatives taken to foster studies related to the genetic makeup of crops for yield and quality improvement are likely to favor the genotyping market in the US in the future.
Expanding Range of Applications to Provide Market Opportunities in Future
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, it 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.
Genotyping-by-sequencing (GBS) is a new method to locate and genotype SNPs in crop genomes and human genome by using NGS methods. GBS is developed and deployed in sequencing multiple samples by incorporating molecular markers in the process to further enhance NGS applications in giant crop genome sequencing, such as maize and wheat. High-throughput SNPs detected by GBS are widely used in genetic diversity analysis, genome-wide association studies (GWAS), QTL mapping, and genome prediction (GP) in many plant species. NGS technology has transformed modern biology with high throughput and low cost. With remarkable advancements unlocked by NGS technologies, whole-genome sequencing provides ultra-throughput sequences that revolutionize plant genotyping and breeding. Sequencing by synthesis (SBS) and multiplexing greatly enhance the efficiency of the sequence.
Therefore, 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.
Genotyping Market: Competitive Landscape and Key Developments
F. Hoffmann-La Roche Ltd., Integrated DNA Technologies, Inc. (Danaher), Qiagen, Merck KGaA, Eurofins Genomics, Thermo Fisher Scientific Inc., BioTek Instruments, Inc., Xcelris Genomics, Trimgen Corporation, and Illumina, Inc. are among the key companies operating in the genotyping market.The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Organisation for Economic Co-operation and Development are among the primary and secondary sources referred to while preparing the genotyping market report.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the genotyping market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global genotyping market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the genotyping market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Genotyping Market Landscape
5. Genotyping Market - Key Market Dynamics
6. Genotyping Market - Global Market Analysis
7. Genotyping Market Analysis - by Product Type
8. Genotyping Market Analysis - by Technology
9. Genotyping Market Analysis - by Application
10. Genotyping Market Analysis - by End-user
11. Genotyping Market - Geographical Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Samples
LOADING...
Companies Mentioned
- KSA Industrial Design Market
- Autodesk Inc
- Accenture Plc
- Dassault Systemes SE
- Hilti Corp
- Adobe Inc
- Ansys Inc
- Siemens AG
- Transcend Software Inc
- ZWSOFT CO., LTD.
- Altair Engineering, Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | August 2024 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value in 2023 | 30.44 Billion |
| Forecasted Market Value by 2031 | 154.35 Billion |
| Compound Annual Growth Rate | 22.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
