Genotyping Global Market Report 2024

The genotyping market size has grown rapidly in recent years. It will grow from $19.71 billion in 2023 to $22.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth observed in the historical period can be ascribed to government initiatives and funding, a rapid decrease in genotyping costs, the expansion of biobanks and genetic databases, an increase in the prevalence of genetic disorders, and advancements in pharmacogenomics and drug development.

The genotyping market size is expected to see rapid growth in the next few years. It will grow to $42.84 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The anticipated growth in the forecast period can be attributed to an increased adoption in clinical diagnostics, a growing demand for personalized medicine, a rise in research and development initiatives, and an expanding application in agriculture and livestock. Major trends expected in the forecast period include a rise in demand for pharmacogenomics, advancements in next-generation sequencing (NGS), expansion in precision medicine initiatives, growth in direct-to-consumer (DTC) genetic testing, and a focus on cancer genomics and personalized therapies.

The expected growth in the genotyping market is driven by the rising prevalence of cancer and genetic disorders. Cancer, a diverse group of diseases that can originate in various organs or tissues, and genetic disorders, conditions caused by deviations from the typical DNA sequence, are subject to investigation through genotyping. Genotyping allows scientists to explore genetic variations, such as single nucleotide variations, copy number variations, and substantial structural changes in DNA. Genetic testing, a form of genotyping, focuses on identifying specific gene mutations associated with an individual's risk of developing certain cancers. For example, predictions from the National Centre for Biotechnology Information estimate an increase in new cancer cases and deaths in 2022 compared to 2021. In addition, Gene People UK reports that approximately 1 in every 25 children has a hereditary condition, indicating a significant impact on both children and adults. Hence, the growing prevalence of cancer and genetic disorders is a key driver of the genotyping market.

The increasing demand for genetic testing is also expected to contribute to the growth of the genotyping market. Genetic testing, involving the analysis of an individual's DNA to identify variations or mutations, relies on genotyping to provide specific information about genetic differences. The utilization of genetic testing witnessed a notable 15% increase in November 2022 compared to the previous year, constituting approximately 10% of all lab tests and indicating a growing trend. This surge in demand for genetic testing further propels the growth of the genotyping market.

Innovations in product offerings are a prominent trend gaining traction in the genotyping market. Companies within the genotyping sector are embracing inventive solutions to maintain their competitive positions. A notable example is the collaboration between Neogen, a US-based food safety company, and Gencove Inc., a US-based provider of a sequencing platform for genome discovery, leading to the introduction of InfiniSEEK in May 2022. This groundbreaking and cost-effective solution revolutionizes whole genome sequencing and targeted SNP (single nucleotide polymorphism) analysis, particularly catering to cattle breeders. InfiniSEEK provides a platform for managing over 400 bovine genetic characteristics, identifying new variables affecting desirable phenotypes, and mitigating selection bias by sequencing larger populations or the entire population. This unique service empowers consumers with a data-rich, cost-effective approach to globally profile cattle, integrating genome-wide sequencing data, specific genetic traits, and parentage markers.

Major players in the genotyping market are directing their focus toward the development of cutting-edge solutions, exemplified by the emphasis on high-coverage whole genome sequencing. This advanced genetic sequencing technique involves a comprehensive analysis of an individual's entire genome with high coverage. A notable initiative in this direction is the collaboration between Gencove, a US-based software company, and NEOGEN Corporation, a US-based food safety company, leading to the launch of InfiniSEEK in May 2022. This groundbreaking and cost-efficient solution enables the simultaneous execution of low-pass whole genome sequencing and high-coverage genotyping in specific regions of interest.

In December 2021, Thermo Fisher Scientific Inc., a US-based manufacturer of scientific instruments, consumables, and chemicals, acquired PPD Inc. for approximately $17.4 billion. This strategic acquisition positions Thermo Fisher Scientific Inc. to offer a comprehensive range of clinical development services, encompassing scientific research, safety and efficacy evaluations, healthcare outcomes assessments, trial logistics management, and pharmaceutical development and manufacturing. PPD Inc., a US-based contract research organization, brings expertise in virology testing, including viral load assessments, genotyping, and single nucleotide polymorphism analysis.

Major companies operating in the genotyping market report are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Eurofins Scientific SE, Agilent Technologies, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv, Takara Bio Inc., Integrated DNA Technologies Ltd., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies, Macrogen Inc., Pacific Biosciences of California, Standard BioTools Inc., GENEWIZ, Transnetyx, Agena Bioscience Inc., Genotypic Technology Pvt Ltd., BMG LABTECH GmbH, Bioline, Biofortuna Limited, Xcelris Genomics.

North America was the largest region in genotyping market in 2023. The regions covered in the genotyping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the genotyping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of genotyping products and services encompass instruments, reagents and kits, bioinformatics, and genotyping services. An instrument is a tool designed to measure various parameters, such as speed, height, or sound. In the context of genotyping, instruments are employed to investigate genetic variations such as significant structural alterations in DNA, copy number variations, and single nucleotide variations. Various technologies are incorporated, including microarrays, capillary electrophoresis, sequencing, polymerase chain reaction, matrix-assisted laser desorption or ionization (Maldi-TOF) mass spectrometry, and other technologies. These technologies serve multiple applications, including pharmacogenomics, diagnostics, personalized medicine, animal genetics, agricultural biotechnology, among others. The end-users of genotyping products and services include pharmaceutical and biopharmaceutical companies, diagnostics and research laboratories, academic institutes, and others.

The genotyping market research report is one of a series of new reports that provides genotyping market statistics, including genotyping industry global market size, regional shares, competitors with a genotyping market share, detailed genotyping market segments, market trends and opportunities, and any further data you may need to thrive in the genotyping industry. This genotyping market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The genotyping market consists of revenues earned by entities by providing services such as custom genotyping services, genetic counselling, genotyping assay services, Sanger sequencing, fragment length analysis, and genotyping data analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The genotyping market also includes sales of thermal cyclers, PCR (polymerase chain reaction) systems, fully integrated microarray instrument, which are used in providing genotyping services. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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