Global Genotyping Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- July 8, 2022
- HEALTHCARE, NEWS
- Genotyping Market, Genotyping Market growth, Genotyping Market Share, Genotyping Market Size.
- 0 Comments
Global genotyping market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 20% during the forecast period (2021-2027F). Genotyping is a process for the determination of the DNA sequence at a specific location in one’s genome. The variation in the sequence is marked as an indication of certain traits or diseases.
Currently, genetics is of extreme importance to medical practice as it provides a definitive diagnosis for many clinically heterogeneous diseases. Consequently, it enables a more precise disease prognosis and provides guidance towards the selection of the best therapeutic choices for the affected patients. Much of its current promise comes from its ability to examine the human genome at various stages, from chromosome to single-base changes. Furthermore, Genetic testing assists with developing preventative health plans, reducing health care costs for patients such as chronic disease detection and management in the long run. Health systems reduce health care costs while still providing high-quality care by utilizing resources like Genome Medical.
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Based on product/services, the market is fragmented into reagents & kits, genotyping services, instruments, and bioinformatics. The reagent & kits segment held significant growth in 2020 owing to the increasing demand for the reagents, sampling, and sequencing process of the genomes. However, during the forecast period, the bioinformatics segment is predicted to have lucrative growth due to the increasing demand for better and improved software in healthcare as well as in the diagnostic sector to store the genetic information of the patient.
Based on technology, the market is segmented into PCR, sequencing, electrophoresis, microarray, and others. The PCR grabbed a major market share in the genotyping market in 2020. This is mainly due to the rapidly increasing incidences of genetic diseases among the population and the continuously developing infrastructure for medical diagnostics owing to the growth of the PCR segment. Furthermore, during the forecast period, the sequencing segment is predicted to have a considerable share in genotyping market due to the continuous enhancement in the sequencing technology and increasing investment in biotechnology.
For a detailed analysis of the product of Genotyping browse through – https://univdatos.com/report/genotyping-market/
Based on end-users, the market is fragmented into pharmaceutical & biotechnology companies, hospitals and clinics, academic & government institutes, diagnostic & research institutions, and others. The pharmaceutical & biotechnology companies are held a significant share in the market in 2020. This is mainly due to increasing the need for pharmacogenomics in the drug development process and the increasing demand for specific medicines is responsible for the segmental growth in 2020. During the forecast period, the diagnostic & research institution segment is anticipated to have a significant market share in the genotyping market. The increasing cases of the diseases such as cancer induce the demand for the proper diagnostic tests along with advancements in genetics attributed to the significant market size of the segment in the future.
Additionally, the report provides detailed report also provides insights into the global genotyping market according to the regions such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the genotyping industry owing to the presence of well-established market players and frequent product launches along with the presence of advanced diagnostic infrastructure in the region.
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Illumina Inc., Thermo Fisher Scientific Inc., Qiagen Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, Danaher Corporation, Agilent Technologies, Eurofins Scientific Inc., GE Healthcare Inc., and Bio-Rad Laboratories Inc, are some of the key players operating in the global Genotyping market. Several M&As along with partnerships have been undertaken by these players to develop various types of Genotyping devices.
Global Genotyping Market Segmentation
Market Insight, by Product/ Service Type
- Reagents & Kits
- Genotyping Services
Market Insight, by Technology
Market Insight, by End-users
- Pharmaceutical & Biotechnology companies
- Hospitals and clinics
- Academic & government institutes
- Diagnostic & research institutions
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen Inc.
- F. Hoffmann-La Roche Ltd.
- Fluidigm Corporation
- Danaher Corporation
- Agilent Technologies
- Eurofins Scientific Inc.
- GE Healthcare Inc.
- Bio-Rad Laboratories Inc.