Genotyping Market Share 2022 COVID-19 Impact and Regional Outlook 2030

Oklahoma, Perkins, 2022-Oct-06 — /EPR Network/ —

Description

According to the Market Statsville Group, the global genotyping market size was valued at USD 19,952.6 million in 2021 and is projected to grow at a CAGR of 27.3% to reach USD 137,602.6 million by 2030. The rise in the prevalence of genetic diseases such as turner syndrome and Alzheimer’s is expected to boost the market. Moreover, increasing preference for parents to test and identify genomic abnormalities and various companies offering affordable genetic testing and sequencing services is expected to boost the market.

The introduction of technologically advanced products based on accuracy, efficiency, and cost-effectiveness is expected to serve this market as a high-impact rendering driver. Key market players introduce novel technologies that are better, efficient, rapid, and cost-effective to withstand their market position. The growing number of automated instruments and their easy availability are factors expected to drive the market. Improvement in technology and the consequent introduction of affordable and high-efficacy products also drive the market. Most of the companies provide genotyping services for DNA/RNA sequencing. These services are reliable, personalized, and affordable.

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Global Genotyping Market Definition

Genotyping is the study of DNA sequences to determine the genetic makeup of living organisms such as humans, plants, animals, and micro-organisms. Human genotyping can help determine whether or not a person is a father or a mother. Genotyping of micro-organisms, including viruses and bacteria, helps in prevention of the spreading of pathogens by tracking down the origin of the outbreak.

Global Genotyping Market Dynamics

Drivers: Rise in prevalence of genetic diseases

The rising prevalence of genetic diseases, such as Alzheimer’s, turner syndrome, and Parkinson’s, is one of the major factors that will drive the market growth. According to an article published by National Center for Biotechnology Information in 2017, Parkinson’s disease affects 1-2 per 1000 population and 1% of the population above 60 years of age. As per the World Health Organization, cancer was responsible for 8.8 million deaths in 2015. They are changing lifestyles, and environmental impact on living triggers the incidences of genetic diseases. The incidences of breast cancer and ovarian cancer are increasing at a higher rate in many regions. Early detection of genetic variations by prenatal testing helps to robust disease diagnosis, prevention, and suitable treatment. High incidences of diseases foster the growth of genotyping market.

Restraints: Lack of skilled labor

Genotyping about data analysis and management requires high technical know-how. Currently, there are relatively less number of professionals and experts working in this field. Moreover, few institutes and universities offer courses and training for healthcare information technology in developing economies. Hence, the lack of skilled professionals is anticipated to act as a restraining factor for genotyping and associated industry growth. However, companies are now collaborating with various universities and offering on-site training, online workshops, and sponsored projects to develop the right professionals. This is expected to generate interest among research professionals and fellows by helping them realize the potential of this field and, therefore, significantly reducing the impact of the restraint.

Scope of the Global Genotyping Market Research Report

The study categorizes the genotyping market based on product, technology, and application at the regional and global levels.

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By Products Outlook (Revenue, USD Million, 2017–2030)

• Reagents & Kits
• Instruments
• Services

By Technology Outlook (Revenue, USD Million, 2017–2030)

• Polymerase Chain Reaction (PCR)
• Capillary Electrophoresis
• Mass Spectrometry
• Sequencing
• Microarray
• Others

By Application Outlook (Sales, USD Million, 2017–2030)

• Diagnostics
• Drug Discovery & Development
•  Personalized Medicine
• Academic Institutes
• Agriculture
• Others

By Region Outlook (Sales, USD Million, 2017–2030)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The reagents & kits segment, by product, accounts for the largest market share

Based on the product, the market is divided into reagents & kits, instruments, and services. In 2021, the reagents & kits segment accounted for the largest market share of 55.2% in the global genotyping market. In 2021, Reagents and kits held the largest share and is the fastest-growing market owing to its high adoption in research and clinical settings. Kits and reagents are available for DNA sequencing, cloning, cellular manipulation, PCR, electrophoresis, and gene regulation. Standard reagents are helping to achieve efficient and accurate results. Standardized results, improved efficiency, and cost-effectiveness are anticipated to support the growth of this market. The key market players providing reagents and kits are Affymetrix, Inc.; Thermo Fisher Scientific; Fluidigm Corp; and Agilent Technologies.

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Asia Pacific accounts for the highest CAGR during the forecast period

By regions, the global genotyping market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 28.2% in the global genotyping market during the forecast period. The Asia Pacific region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia–Pacific.

High unmet clinical needs, untapped market opportunities, and improving healthcare expenditure are key factors responsible for regional growth. Technology advancements coupled with the rising prevalence of various target diseases increase the demand for genotyping products. Furthermore, the rising demand for healthcare products and initiatives undertaken by governments to improve the population’s health status are expected to drive market growth during the forecast period.

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Key Market Players

The genotyping market is mildly concentrated in nature with few numbers of global players operating in the market such as Illumina, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Danaher Corporation, Roche Diagnostics, GE Healthcare, Fluidigm Corporation, PerkinElmer, Eurofins Scientific, Bio-Rad Laboratories, Pacific Biosciences of California, GENEWIZ, and Integrated DNA Technologies. Every company follows its own business strategy to attain the maximum market share.