Genotyping Assay Global Market Report 2024

The genotyping assay market size has grown exponentially in recent years. It will grow from $27.7 billion in 2023 to $33.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth observed in the historical period can be attributed to the traditional usage of glassware, cultural and lifestyle influences, economic factors, the growth of the hospitality and foodservice industry, and trends in gifts and decor.

The genotyping assay market size is expected to see exponential growth in the next few years. It will grow to $77.77 billion in 2028 at a compound annual growth rate (CAGR) of 23%. The anticipated growth in the forecast period can be attributed to the trends of customization and personalization, the focus on health and wellness, the growth of e-commerce, the popularity of smart and functional glassware, and the influence of culinary and mixology trends. Major trends expected in the forecast period include material innovation, the introduction of innovative shapes and designs, the development of smart glassware, the creation of specialized glassware for specific beverages, and the incorporation of health and safety features.

The increasing prevalence of genetic disorders is expected to drive the growth of the genotyping assay market. Genetic disorders result from abnormalities or mutations in an individual's DNA. Genotyping assays play a crucial role in identifying and analyzing these genetic variations, enabling the detection of specific mutations or variations associated with particular genetic disorders. For example, Gene People, a UK-based charity organization, reported in June 2023 that approximately one in every 25 children in the UK had a genetic disorder, affecting around 30,000 newborns and young children annually, along with more than 2.4 million children and adults. Hence, the growing prevalence of genetic disorders is a significant factor contributing to the expansion of the genotyping assay market.

The rising demand for personalized medicine is another key driver for the growth of the genotyping assay market. Personalized medicine involves tailoring medical treatment to an individual's unique genetic makeup, offering more precise and effective healthcare interventions. Genotyping assays are essential in personalized medicine to analyze an individual's genetic profile, enabling customized drug selection and dosage. In January 2023, the Food and Drug Administration (FDA) reported that out of the 35 therapeutic new molecular entities (NMEs) approved in 2022, approximately 34% (12 of them) were classified as personalized medicines by the Personalized Medicine Coalition (PMC). This highlights the increasing demand for personalized medicine, which, in turn, is propelling the growth of the genotyping assay market.

The growth of the genotyping assay market faces a significant challenge due to the high cost of equipment, which pertains to specialized devices used in genetic analysis to determine an individual's genotype. This cost obstacle hinders market expansion by limiting smaller laboratories' access, creating budgetary constraints, reducing adoption rates, diverting resources, influencing ROI considerations, facing competitive pressures, and establishing barriers to market entry. For example, Illumina, Inc., a US-based biotechnology company, states that basic PCR machines can start at $5,000, while advanced RT-PCR or qPCR systems range from $15,000 to over $90,000. Moreover, the latest DNA sequencing machines have a base machine priced at $985,000, with a more advanced version available for $1.25 million, thereby restraining the genotyping assay market's growth.

Key players in the genotyping assay market are actively advancing genomic research, such as the development of CE-IVD marked assays to detect treatment-resistant strains of HIV-1. An example is the CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit by Thermo Fisher Scientific, launched in January 2023. This Sanger sequencing-based assay examines HIV-positive samples to identify genetic variants resistant to common antiretroviral therapeutics. The kit's unique features include assessing genomic mutations, utilizing HIV RNA, detecting drug resistance mutations through gold-standard Sanger sequencing technology, and being designed for clinical use. This product launch adds value by enhancing the detection of treatment-resistant HIV-1 strains, providing ready-to-use reagents and controls, meeting regulatory requirements, exhibiting high-performance characteristics, and being compatible with existing sequencing platforms and workflows.

In August 2023, Transnetyx Inc., a US-based biotechnology company, acquired Laragen Inc. for an undisclosed sum. Through this acquisition, Transnetyx aims to broaden its solutions by incorporating sequencing and next-generation sequencing (NGS) services, offering large research institutes improved access to cutting-edge genetic services. Laragen Inc., also based in the US, specializes in providing sequencing and genotyping assay services for DNA.

Major companies operating in the genotyping assay market report are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Danaher Corporation, Eurofins Scientific SE, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Qiagen NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv Inc., Promega Corporation, Luminex Corporation, Integrated DNA Technologies Inc., Integrated DNA Technologies Ltd., Sequenom Inc., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies PLC, GenMark Diagnostics Inc., Macrogen Inc., Pacific Biosciences of California Inc., Standard BioTools Inc., Genewiz Inc., New England Biolabs, TrimGen Corporation, Xcelris Genomics.

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

A genotyping assay is a laboratory technique or method employed to determine an individual's genetic makeup at specific genetic loci or positions within their DNA. It involves the identification and analysis of genetic variations, such as single nucleotide polymorphisms (SNPs) or insertions and deletions, present in an individual's genome.

The primary products and services in the genotyping assay market include reagents and kits, genotyping services, instruments, and bioinformatics. Reagents and kits serve as crucial components in various scientific and laboratory processes, especially in fields such as molecular biology, chemistry, and diagnostics. Various technologies are employed in genotyping assays, including microarrays, polymerase chain reaction, sequencing, capillary electrophoresis, matrix-assisted laser desorption or ionization-time of flight mass spectrometry, and others. These technologies cater to diverse end-users such as pharmacogenomics, personalized medicine and diagnostics, animal genetics, agricultural biotechnology, research and diagnostic laboratories, and academic institutes.

The genotyping assay market research report is one of a series of new reports that provides genotyping assay market statistics, including genotyping assay industry global market size, regional shares, competitors with a genotyping assay market share, detailed genotyping assay market segments, market trends and opportunities, and any further data you may need to thrive in the genotyping assay industry. This genotyping assay 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 assay market includes revenues earned by entities that provide genotyping assay services such as single nucleotide polymorphisms (SNPs) genotyping, short tandem repeats (STRs) genotyping, whole genome genotyping, and clinical genotyping services. The market value includes the value of related goods sold by the service provider or included within the service offering. The genotyping assay market consists of sales of products such as polymerase chain reaction (PCR) primers, SNP genotyping kits, DNA extraction kits, and microarray chips. 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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