Genotyping Market Size, Share, Growth, Opportunities And Global Forecast To 2033

Overview and Scope

Genotyping is a lab procedure examining a person’s germline DNA for nucleotides or bases to see if certain variations are present. Researchers can explore genetic variants such as single nucleotide variations, copy number variations, and substantial structural alterations in DNA using genotyping. It is used in various fields, including agriculture, medicine, and basic science.

Sizing and Forecast

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 in the historic period can be attributed to government initiatives and funding, rapid decline in genotyping costs, expansion of biobanks and genetic databases, increasing prevalence of genetic disorders, 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 growth in the forecast period can be attributed to increased adoption in clinical diagnostics, growing demand for personalized medicine, rise in research and development initiatives, expanding application in agriculture and livestock. Major trends in the forecast period include rise in demand for pharmacogenomics, advancements in next-generation sequencing (ngs), expansion in precision medicine initiatives, growth in direct-to-consumer (dtc) genetic testing, focus on cancer genomics and personalized therapies.

To access more details regarding this report, visit the link:

https://www.thebusinessresearchcompany.com/report/genotyping-global-market-report

Segmentation & Regional Insights

The genotyping market covered in this report is segmented
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

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.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=12059&type=smp

Major Driver Impacting Market Growth

The rising prevalence of cancer and genetic disorders is expected to propel the growth of the genotyping market going forward. Cancer refers to a broad collection of illnesses that can begin in practically any organ or tissue of the body, while genetic disorders refer to a condition wholly or partially brought on by a deviation from the usual DNA sequence. Scientists can use genotyping to investigate genetic variances such as single nucleotide variations, copy number variations, and substantial structural changes in DNA. Genetic testing, or genotyping, looks for specific gene mutations (changes) that may raise a persons risk of acquiring certain cancers. For instance, in January 2022, according to the National Centre for Biotechnology Information, a US-based organization and branch of the National Institutes of Health, its predicted that there will be 1,918,030 new cancer cases and 609,360 cancer deaths, with lung cancer accounting for most of those deaths with roughly 350 fatalities every day as compared to 1,898,160 new cancer cases and 608,570 cancer-related deaths in 2021. Furthermore, in February 2023, according to Gene People UK, a UK-based registered charity, it is estimated that 1 in every 25 children has a hereditary condition. This implies that 30,000 babies and children are newly diagnosed in the UK annually, and more than 2.4 million children and adults have a genetic disorder. Therefore, the increasing prevalence of cancer and genetic disorders is driving the growth of the genotyping market.

Key Industry Players

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.

The genotyping market report table of contents includes:
1. Executive Summary

2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis

………..

27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

    Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model