The global genotyping market size 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 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
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/genotyping-market/request/rs1
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.
For
more info visit @https://www.grandviewresearch.com
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