PUBLISHER: The Business Research Company | PRODUCT CODE: 1350932
PUBLISHER: The Business Research Company | PRODUCT CODE: 1350932
“Genotyping Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on genotyping market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for genotyping? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The genotyping market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the genotyping market are: F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Eurofins Scientific SE, Agilent Technologies, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv, Takara Bio Inc., Integrated DNA Technologies Ltd., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies, Macrogen Inc., Pacific Biosciences of California, Standard BioTools Inc., GENEWIZ, Transnetyx, Agena Bioscience Inc., Genotypic Technology Pvt Ltd., BMG LABTECH GmbH, Bioline, Biofortuna Limited, and Xcelris Genomics.
The global genotyping market is expected to grow from $16.94 billion in 2022 to $19.71 billion in 2023 at a compound annual growth rate (CAGR) of 16.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The genotyping market is expected to reach $36.35 billion in 2027 at a CAGR of 16.5%.
The genotyping market consists of revenues earned by entities by providing services such as custom genotyping services, genetic counseling, genotyping assay services, Sanger sequencing, fragment length analysis, and genotyping data analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The genotyping market also includes sales of thermal cyclers, PCR (polymerase chain reaction) systems, fully integrated microarray instrument, which are used in providing genotyping services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Genotyping is a lab procedure examining a person's germline DNA for particular nucleotides or bases to see if certain variations are present. Researchers can explore genetic variants such as single nucleotide variations, copy number variations, and substantial structural alterations in DNA using genotyping. It is used in various fields, including agriculture, medicine, and basic science.
North America was the largest region in genotyping market in 2022. The regions covered in genotyping report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of genotyping products and services are instruments, reagents and kits, bioinformatics, and genotyping services. An instrument refers to a tool used to measure something like speed, height, or sound. Instruments in genotyping are used to investigate genetic variations such as significant structural alterations in DNA, copy number variations, and single nucleotide variations. The multiple types of technology are included, such as microarrays, capillary electrophoresis, sequencing, polymerase chain reaction, matrix-assisted laser desorption or ionization (maldi-tof) mass spectrometry, and other technologies, which are used in several applications, including pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and others. These are used by several end-users, such as pharmaceutical and biopharmaceutical companies, diagnostics and research laboratories, academic institutes, and others.
The rising prevalence of cancer and genetic disorders is expected to propel the growth of the genotyping market going forward. Cancer refers to a broad collection of illnesses that can begin in practically any organ or tissue of the body, while genetic disorders refer to a condition wholly or partially brought on by a deviation from the usual DNA sequence. Scientists can use genotyping to investigate genetic variances such as single nucleotide variations, copy number variations, and substantial structural changes in DNA. Genetic testing, or genotyping, looks for specific gene mutations (changes) that may raise a person's risk of acquiring certain cancers. For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based organization and branch of the National Institutes of Health, it's predicted that there will be 1,918,030 new cancer cases and 609,360 cancer deaths, with lung cancer accounting for the majority of those deaths with roughly 350 fatalities every day as compared to 1,898,160 new cancer cases and 608,570 cancer-related deaths in 2021. Furthermore, in February 2023, according to Gene People UK, a UK-based registered charity, it is estimated that 1 in every 25 children has a hereditary condition. This implies that 30,000 babies and children are newly diagnosed in the UK annually, and more than 2.4 million children and adults have a genetic disorder. Therefore, the increasing prevalence of cancer and genetic disorders is driving the growth of the genotyping market.
Product innovations are a key trend gaining popularity in the genotyping market. Companies operating in the genotyping market are adopting innovative solutions to sustain their position in the market. For instance, in May 2022, Neogen, a US-based food safety company, and Gencove Inc., a US-based provider of a sequencing platform for genome discovery, launched InfiniSEEK, an innovative and cost-effective solution for whole genome sequencing and targeted SNP (single nucleotide polymorphism) analysis. It is the first whole-genome and genotyping sequencing solution for cattle breeders. With InfiniSEEK, the industry now has a platform to reliably manage more than 400 bovine genetic characteristics and circumstances, discover new variables impacting desirable phenotypes, and decrease selection bias by sequencing more or all of a population. With the release of this unique service, consumers now have a data-rich, cost-effective method of profiling cattle worldwide by combining genome-wide sequencing data, specific genetic traits, and parentage markers.
In December 2021, Thermo Fisher Scientific Inc., a US-based manufacturer of scientific instruments, consumables, and chemicals, acquired PPD Inc. for approximately $17.4 billion. With this acquisition, Thermo Fisher Scientific Inc. seeks to offer a full range of clinical development services, including scientific research, evaluation of safety, efficacy, and healthcare outcomes, management of trial logistics, and development and manufacturing of pharmaceuticals. PPD Inc. is a US-based contract research organization that offers virology testing, including viral load, genotyping, and single nucleotide polymorphism analysis.
The countries covered in the genotyping market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The genotyping market research report is one of a series of new reports from The Business Research Company that provides genotyping market statistics, including genotyping industry global market size, regional shares, competitors with a genotyping market share, detailed genotyping market segments, market trends and opportunities, and any further data you may need to thrive in the genotyping industry. This genotyping market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.