The global genotyping
market is expected to reach USD 37.1 billion by 2024 according to a
new report by Grand View Research, Inc. The increasing demand for genotyping
tests to evaluate drug efficacy and safety is one of the major drivers for the
genotyping market. Genotyping tests are widely used in selecting a highly
responsive, patient population subset against a specific drug candidate before
initiating clinical trials. The rising need for affordable genotyping services
coupled with the high demand for personalized medicines is also expected to
propel the market growth.
Major pharmaceutical companies are collaborating with
diagnostic manufacturers for the development of novel biomarker-based
therapeutics. Significant opportunities for the growth of this market are
anticipated due to the above-mentioned collaborative initiatives.
The increasing awareness for prenatal genetic testing
pertaining to early detection of chromosomal abnormalities in the high-risk
population, the introduction of technological advancements, and the increasing
R&D funding are the other factors accentuating the market growth over the
forecast period.
Browse full research report on Global Genotyping Market: https://www.grandviewresearch.com/industry-analysis/genotyping-market
Further
key findings from the study suggest:
- The reagents and kits segment dominated the product segment in
2015. Extensive usage of reagents for research activities and the wide
applicability of the genotyping tests in disease diagnosis and validation
are the factors responsible for its large share
- The reagent and kits segment is also anticipated to witness the
highest growth over the forecast period. The major factors responsible for
the lucrative growth of this segment are a high amount of R&D
activities undertaken by research and academic institutes for the
development of novel genetic biomarkers.
- In 2015, the polymerase chain reaction technology captured a
significant market share owing to the higher acceptance levels by
researchers and the introduction of technologically advanced and
user-friendly products
- The diagnostic center was one of the largest segments with a market
share of over39.0% in 2015. The rising demand for genotyping tests coupled
with the high awareness for genetic disorders is a key driver for its
large market share. Personalized medicine is expected to grow at a
significant growth rate over the forecast period due to the increasing
demand for the efficient and fast-acting therapeutics under the precision
medicine category.
- North America held the largest share of thegenotyping market in
2015.The rising healthcare expenditure, established R&D
infrastructure, and the increasing awareness among doctors for hereditary
genetic disorders are the factors contributing to the large share.
- Asia Pacific is anticipated to be the fastest growing regional
segment during the forecast period. The introduction of favorable
government initiatives and programs, the geographical expansion of major
players in this area, and the growing target population base are some of
the factors expected to push forward the market growth.
- The key players include Affymetrix, Inc., Agilent Technologies,
Inc., Genewiz, Inc., Fluidigm Corporation, GE Healthcare GmbH, Illumina,
Inc., Thermo Fisher Scientific, Inc., Qiagen NV, and Roche Diagnostics
- In April 2016, Siemens Healthcare GmbH and Thermo Fisher
Scientific, Inc. declared a strategic collaboration for the development of
an advanced and integrated genotyping platform. This agreement aimed to
introduce enhanced flexibility and customizability to their molecular
testing solutions.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/biotechnology
Grand
View Research has segmented the genotyping market on the basis of product,
technology, application, and region:
Genotyping
Market Product Outlook, by Revenue (USD Million, 2013 - 2024)
- Instruments
- Reagents and
kits
- Services
Genotyping
Market Technology Outlook, by Revenue (USD Million, 2013 - 2024)
- Polymerase
Chain Reaction(PCR)
- Capillary
Electrophoresis
- Mass
Spectrometry
- Sequencing
- Microarray
- Other
Genotyping
Market Application Outlook, by Revenue (USD Million, 2013 - 2024)
- Diagnostics
- Drug
Discovery and Development
- Personalized
Medicine
- Academic
Research
- Agriculture
- Others
Genotyping
Market Regional Outlook, by Revenue (USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- MEA
- South Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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