The Genotyping Assay Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 in the historic period can be attributed to traditional glassware usage, cultural and lifestyle influences, economic factors, hospitality and foodservice industry growth, gift and decor trends.
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 23.0%. The growth in the forecast period can be attributed to customization and personalization, health and wellness trends, e-commerce growth, smart and functional glassware, culinary and mixology trends. Major trends in the forecast period include material innovation, innovative shapes and designs, smart glassware, specialized glassware for beverages, health and safety features.
The increasing prevalence of genetic disorders is expected to propel the growth of the genotyping assay market going forward. Genetic disorders are a group of medical conditions that are caused by abnormalities or mutations in an individual’s deoxyribonucleic acid (DNA). Genotyping assays compare the DNA of affected people to that of healthy people to spot changes and can reveal specific genetic mutations or variations linked to a particular genetic disorder. For instance, in June 2023, Gene People, a UK-based registered charity organization supporting individuals with genetic conditions, reported that one in every 25 children in the UK had a genetic disorder, affecting approximately 30,000 newborns and young children in the country as well as more than 2.4 million children and adults annually. Therefore, the increasing prevalence of genetic disorders is driving the growth of the genotyping assay market.
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The genotyping assay market covered in this report is segmented –
1) By Product And Service: Reagents And Kits, Genotyping Services, Instruments, Bioinformatics
2) By Technology: Microarrays, Polymerase Chain Reaction, Sequencing, Capillary Electrophoresis, Matrix-assisted Laser Desorption Or Ionization-Time Of Flight Mass Spectrometry, Other Technologies
3) By End-User: Pharmacogenomics, Personalized Medicine And Diagnostics, Animal Genetics, Agricultural Biotechnology, Research And Diagnostic Laboratories, Academic Institutes
Major companies operating in the genotyping assay market are developing advancements in genomic research such as CE-IVD marked assay to detect treatment-resistant strains of HIV-1. CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit refers to a Sanger sequencing-based assay that examines positive samples of human immunodeficiency virus (HIV) to identify genetic variants that may resist common antiretroviral therapeutics. For instance, in January 2023, Thermo Fisher Scientific, a US-based company launched CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit. This system detects treatment-resistant strains of HIV-1 and has unique features that include assessing genomic mutations, using HIV RNA, detecting drug resistance mutations, using gold-standard Sanger sequencing technology, and is designed for clinical use. The launch of the Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit has added value by improving the detection of treatment-resistant HIV-1 strains, providing ready-to-use reagents and controls, meeting regulatory requirements, having high-performance characteristics, and being compatible with existing sequencing platforms and workflows.
The genotyping assay market report table of contents includes:
1. Executive Summary
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