Genotyping Market Forecasts to 2028 - Global Analysis By Product & Service, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Genotyping Market is accounted for $27.89 billion in 2022 and is expected to reach $101.41 billion by 2028 growing at a CAGR of 24.0% during the forecast period. Genotyping is a method that uses an individual's DNA sequence to examine genetic make-up variations using biological experiments. This method aids scientists in examining genetic anomalies such significant DNA structural variations and single nucleotide polymorphisms. The advent of innovative technologies that significantly reduce mistakes and produce effective findings, as well as the rising prevalence of target diseases including cancer, diabetes, and Alzheimer's, fuel the market's growth.

According to WHO, 19.1 million new cancer cases were diagnosed using genotyping globally in 2020. Cancer-causing viruses such as Human Papilloma Virus (HPV) and Hepatitis B Virus (HBV)/Hepatitis C Virus (HCV) are also responsible for about 20% of cancer deaths worldwide.

Market Dynamics:

Driver:

Technological advances and falling DNA sequencing costs

Miniaturisation, automation, lower overall costs, operational flexibility, and the inclusion of multi-parameter testing have all been made possible by technological breakthroughs. All of them have significantly improved the versatility and uses of DNA sequencing, freeing doctors to concentrate on important choices like selecting and prioritising therapeutic targets through diverse genotyping research. As a result, technologies like capillary electrophoresis, microarrays, PCR, sequencing, and sequencing have seen an increase in use in areas like clinical research and drug development.

Restraint:

High cost of equipment

The equipment needed to conduct genotyping testing is quite expensive, and a significant financial expenditure is needed to install it. Genotyping equipment is expensive since it has sophisticated features and capabilities. Such systems are needed by pharmaceutical corporations and research facilities in large quantities, necessitating considerable investments to buy numerous, expensive genotyping devices. The overall rise in the total cost of ownership of these instruments is brought on by maintenance costs as well as a number of other indirect costs, including sample and labour costs. As a result, academic and research institutions struggle to install and expand cutting-edge research facilities like NGS technology which are hindering the growth of the market.

Opportunity:

Expanding application fields

Applications for genotyping systems include pharmacogenomics, diagnostic research, individualised medicine, and forensics. Additionally, this technology is suitable for various veterinary requirements, testing for food safety and quality, and environmental conditions in rural and industrial settings. Currently, the demand for better treatment choices and the high frequency of disease make human diagnostics and pharmacogenomics segments that have great marker potential. These segments also require quick genotyping analysis on a wide scale creating a wide range of opportunities for the growth of the market.

Threat:

Research using genotyping data management

Genotyping investigations both quantitatively and qualitatively provide enormous amounts of data. Previously, this data was manually saved, but this posed a significant issue because up to terabytes of data may be created in only a few hours. Through the development of databases to store genotyping data, technological improvements have made it possible to automate the data storage procedure.

COVID-19 Impact:

Technology advances, an increase in the frequency of cancer and genetic abnormalities, and increased R&D investment for precision medicine research are all factors contributing to the expansion. The pandemic raised demand for COVID-19 genotyping kits, which has had a favourable effect on the genotyping business. The genetic variations of COVID-19 have been found using SNP genotyping. The genotyping industry is anticipated to be driven by an increase in government financing, particularly for genomic research, by governmental organisations and pharmaceutical and biotechnology firms to speed up research.

The product & service segment is expected to be the largest during the forecast period

The product & service segment is estimated to have a lucrative growth, due to the availability of a wide variety of reagents, the rising demand for reagents as a result of the increased volume of genotyping tests performed globally, and the relatively low capital expenditure needed to adopt reagents and kits for genotyping in hospitals and diagnostic labs are the factors contributing to the high growth.

The pharmacogenomics segment is expected to have the highest CAGR during the forecast period

The pharmacogenomics segment is anticipated to witness the highest CAGR growth during the forecast period. Pharmacogenomics is the study of how genes impact how an individual reacts to medications. This area integrates the study of genes and their roles with the science of pharmaceuticals to create effective, secure treatments that may be provided depending on a person's genetic profile. Pharmacogenomics will be utilised in the future to create custom medications to address a variety of health issues, such as cardiovascular disease, Alzheimer's disease, cancer, and asthma thus propelling the growth of the market.

Region with highest share:

North America is projected to hold the highest market share during the forecast period owing to the growing use of technologically sophisticated goods, the existence of significant pharmaceutical and biopharmaceutical businesses, pro-active government policies, and improvements in healthcare infrastructure. Another important element contributing to the high market share in this area is the existence of big companies. Growing demand from pharmaceutical companies for genotyping products, rising government investment, increasing adoption of technologically advanced genotyping products, high healthcare expenditures

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the vast untapped potential and rising number of clinical trials being carried out in this area. Growth in the market is anticipated as a result of factors such as the FDA's recommendations to incorporate pharmacogenomics research & genotyping in the drug discovery process and the expanding demand for pharmacogenomics in the drug development process. Other causes, such as technical developments and the expanding pharma and biopharma industries in the area, might also be blamed for this expansion.

Key players in the market:

Some of the key players profiled in the Genotyping Market include Illumina Inc., QIAGEN, Fluidigm Corporation, Agilent Technologies, Danaher Corporation, Thermo Fisher Scientific Inc., Eurofins Scientific Inc., Bio-Rad Laboratories Inc., GE Healthcare Inc., Thermo Fisher Scientific, PerkinElmer, Pacific Biosciences of California, Integrated DNA Technologies, GENEWIZ, Biofortuna Limited, Precision Biomarker Resources, Inc. and TrimGen Corporation

Key Developments:

In April 2023, Agilent and Theragen Bio Partner to Advance Bioinformatic Solutions for Cancer Genomic Profiling in South Korea, New collaboration combines Agilent's SureSelect Cancer CGP assay and Theragen Bio's localized analysis software to transform translational research and enhance precision oncology

In April 2023, Agilent and PathAI Partner to Deliver AI-Powered Assay Development Solutions for Biopharma Research and Clinical Applications, By incorporating AI into CDx development, the partnership enables Agilent and PathAI to build integrated solutions with assays and machine learning analysis algorithms.

In Nov 2023, Danaher launches beacon initiative and its first partnership focused on gene therapy innovation, the program invests in product innovation to advance external R&D strategies with a focus on genomic medicines, precision diagnostics, next generation biomanufacturing, human systems, and data sciences.

Product & Services Covered:

• Genotyping Services
• Bioinformatics
• Instruments
• Reagents & Kit

Technologies Covered:

• Sequencing
• Microarrays
• PCR
• MALDI-TOF
• Capillary Electrophoresis
• Other Technologies

Applications Covered:

• Diagnostic & Personalized Medicine
• Animal Genetics
• Pharmacogenomics
• Other Applications

End Users Covered:

• Pharmaceutical & Biopharmaceutical Companies
• Academic Institutes
• Research & Diagnostic Laboratories
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances