Genotyping Market Overview, Challenges and Growth Opportunities Analysis till 2024

Posted on 2021-02-11 by researchinsights in Biotech, Healthcare // 0 Comments

Felton, Calif., USA, Feb. 11, 2021 — /EPR Network/ —

Global Genotyping Market is expected to reach USD 37.1 billion by 2024. Genotyping is termed as a technology that detects small genetic differences, which may lead to a major change in phenotype. It is exclusively used across basic scientific research, agriculture, and medicine. It examines differences in genetic complement by comparing DNA sequence to a sample sequence. It recognizes small variations in genetic sequence within populations like SNPs. The Genotyping Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.

Growing availability of several types of products, decreasing cost of DNA sequencing, rising awareness and occurrence of genetic diseases, increasing use of plant and animal livestock for genetic analysis, and growing demand for pharmacogenomics in drug discovery & development are documented as major factors of Genotyping Market that are estimated to enhance the growth in the years to come. However, lack of trained personnel’s may restrain overall market growth in the coming years. Genotyping Market is segmented based on product type, technology, application, end users, and region.

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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

The key players of Genotyping industry are Fluidigm Corporation, Affymetrix, Inc., GE Healthcare, Illumina, Inc., Roche, Thermo Fisher Scientific, Inc., Sequenom, Inc., QIAGEN N.V., Beckman Coulter, and Agilent Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

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Globally, North America accounted for the substantial market share of Genotyping and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be rising awareness among people regarding personalized medicines, developed healthcare infrastructure, and rising use of enhanced technology. The United States is a major consumer of Genotyping in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise availability of several untapped market opportunities, rising economic stability, high disposable income, and developing healthcare infrastructure.

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