CHICAGO, June 19,
2024 /PRNewswire/ -- The genotyping assay market
is poised for substantial growth, projected to rise from
USD 19.4 Billion in 2024 to
USD 37.1 Billion by 2029, at a CAGR
of 13.8%. Key drivers include advancements in technology, declining
costs of DNA sequencing, and increased prevalence of genetic
diseases. Genotyping's pivotal role in drug discovery, development,
and personalized medicine further fuels market expansion.
Opportunities abound with burgeoning demands in plant and animal
genome analysis, national sequencing initiatives, and expanding
application areas. However, cost constraints related to equipment
may hinder growth to some extent. Leading market players include
Thermo Fisher Scientific Inc., Illumina, Inc., Danaher Corporation,
QIAGEN, and others, distinguished by their extensive product
portfolios, global presence, and strategic collaborations to
maintain competitive edge and drive innovation in the market.
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Browse in-depth TOC on "Genotyping Assay
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The May 2024 edition of the
genotyping assay market report introduces significant enhancements
and updates to provide a comprehensive view of the market:
- Recession Impact Analysis: This edition includes an
analysis of how economic recessions impact the genotyping assay
market, offering insights into market dynamics during periods of
economic downturn.
- Expanded Market Scope: The report now offers
detailed market size and forecasts for specific regions and
countries. Notably, Latin America
is segmented into Brazil,
Mexico, and the Rest of
Latin America, while market data
for GCC countries is also provided.
- Improved Financial Representation: Financial
information for each listed company is presented graphically in a
single diagram, facilitating clear analysis of financial strength,
profitability, and key revenue-generating segments up to 2023.
- Recent Market Developments: Updates on recent
market developments, including acquisitions, agreements,
expansions, and collaborations, provide a current view of growth
strategies adopted by market players.
- Updated Product Portfolios: The report includes an
updated overview of product portfolios for profiled companies,
reflecting the latest advancements and offerings in genotyping
technologies and services.
- Enhanced Competitive Landscape: The competitive
landscape chapter features a market evaluation matrix with updated
market share analysis for 2023, competitive leadership mapping, and
a vendor dive matrix for a detailed study of key vendors, including
start-ups and SMEs.
These enhancements in the May
2024 edition aim to deliver deeper insights and a more
comprehensive understanding of the genotyping assay market, aiding
stakeholders in strategic decision-making and market
evaluation.
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Market Segmentation by Product & Service
The genotyping assay market is segmented into reagents and kits,
instruments, genotyping assay services, and bioinformatics. In
2023, the reagents & kits segment held the largest market
share. This dominance is driven by the accessibility of a wide
range of reagents, increasing demand due to rising genotyping assay
test volumes globally, and the relatively lower capital investment
needed for adoption in pharmaceuticals and diagnostic centers.
Market Segmentation by Technology
The market is segmented into polymerase chain reaction (PCR),
microarrays, capillary electrophoresis, sequencing, MALDI-TOF, and
other technologies. PCR emerged as the largest segment in 2023,
propelled by advancements like real-time PCR, reverse transcriptase
PCR, and applications in personalized medicine, genetics, prenatal
testing, and forensics. Technological enhancements in PCR
instruments and reagents further bolstered its market growth.
Market Segmentation by Application
Segmented into pharmacogenomics, diagnostics & personalized
medicine, agricultural biotechnology, animal genetics, and other
applications, pharmacogenomics led the market in 2023. This
segment's growth is fueled by increasing demand to study adverse
drug reactions in clinical trials, reduce drug development costs,
and advancements in personalized medicine and genetic research.
Market Segmentation by End User
The market includes biopharmaceutical & pharmaceutical
companies, diagnostic laboratories, academic & research
institutes, and other end users. Biopharmaceutical &
pharmaceutical companies dominated in 2023, driven by rising demand
for pharmacogenomics in drug discovery, FDA recommendations for
genotyping assay studies, new product launches, and increased
investments in pharmacogenomics research.
Regional Segmentation
The global market spans North
America, Europe,
Asia Pacific, Latin America, Middle East & Africa, and GCC Countries. North America leads, supported by widespread
adoption of advanced genotyping assay products, government funding
for research, growing pharmacogenomics applications, investments in
DNA-based testing, adoption of NGS, and presence of key market
players.
These segments reflect the dynamic landscape of the
genotyping assay market, highlighting key drivers and trends
shaping its evolution across regions and industries.
Recent developments in the genotyping assay industry
include:
- Agilent introduced an On-deck thermal cycler in February 2023, integrating thermal cycling into
automated workflows for NGS, end-point PCR, and cell-based
applications.
- In May 2023, Illumina launched
Illumina Connected Insights, a new cloud-based software
facilitating tertiary analysis of clinical next-generation
sequencing data. This software supports genomic profiling for
advanced tumors and whole-genome sequencing for rare diseases.
- QIAGEN debuted the QIAseq Targeted DNA Pro Panels and QIAseq
UPXome RNA Library Kits in January
2023, enhancing capabilities in targeted DNA and RNA
sequencing.
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Related Reports:
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Single cell Analysis Market
Molecular Diagnostics Market
Mass Spectrometry Market
Animal Genetics Market
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Companies and Genotyping Assay Market Share
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