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.
This product will be delivered within 3-5 business days.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Genotyping Market Characteristics3. Genotyping Market Trends and Strategies32. Global Genotyping Market Competitive Benchmarking33. Global Genotyping Market Competitive Dashboard34. Key Mergers and Acquisitions in the Genotyping Market
4. Genotyping Market - Macro Economic Scenario
5. Global Genotyping Market Size and Growth
6. Genotyping Market Segmentation
7. Genotyping Market Regional and Country Analysis
8. Asia-Pacific Genotyping Market
9. China Genotyping Market
10. India Genotyping Market
11. Japan Genotyping Market
12. Australia Genotyping Market
13. Indonesia Genotyping Market
14. South Korea Genotyping Market
15. Western Europe Genotyping Market
16. UK Genotyping Market
17. Germany Genotyping Market
18. France Genotyping Market
19. Italy Genotyping Market
20. Spain Genotyping Market
21. Eastern Europe Genotyping Market
22. Russia Genotyping Market
23. North America Genotyping Market
24. USA Genotyping Market
25. Canada Genotyping Market
26. South America Genotyping Market
27. Brazil Genotyping Market
28. Middle East Genotyping Market
29. Africa Genotyping Market
30. Genotyping Market Competitive Landscape and Company Profiles
31. Genotyping Market Other Major and Innovative Companies
35. Genotyping Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Genotyping Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on genotyping market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for genotyping? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product and Services: Instruments; Reagents and Kits; Bioinformatics; Genotyping Service
2) By Technology: Microarrays; Capillary Electrophoresis; Sequencing; Polymerase Chain Reaction; Matrix-Assisted Laser Desorption Or Ionization (Maldi-TOF) Mass Spectrometry; Other Technologies
3) By Application: Pharmacogenomics; Diagnostics and Personalized Medicine; Animal Genetics; Agricultural Biotechnology; Other Applications
4) By End-user: Pharmaceutical and Biopharmaceutical Companies; Diagnostics and Research Laboratories; Academic Institutes; Other End-Users
Key Companies Mentioned: F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; Laboratory Corporation of America Holdings; Eurofins Scientific SE; Agilent Technologies
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 22.9 Billion |
| Forecasted Market Value ( USD | $ 42.84 Billion |
| Compound Annual Growth Rate | 17.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 29 |
