Global Genotyping Market to Reach US$ 57.4 Billion by 2032, Propelled by Increasing Demand for Genotypic-based Diagnostics

According to the latest report by IMARC Group, titled "Genotyping Market Report by Product and Service (Instruments, Reagents and Kits, Software and Services), Technology (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, Microarray, Sequencing, Mass Spectrometry, and Others), Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Agricultural Biotechnology, Animal Genetics, and Others), End User (Pharmaceutical and Biopharmaceutical Companies, Diagnostics and Research Laboratories, Academic Institutes, and Others), and Region 2024-2032," the global genotyping market reached a value of US$ 19.4 Billion in 2023. Genotyping is a laboratory-based analytical approach that analyzes deoxyribonucleic acid (DNA) sequences to determine the genetic composition in genotypes of various living organisms, such as plants, animals, and microorganisms. It uses a set of biological tests that assists in comparing a single sample with the other sequences and noting the differences between individuals by using genetic history data of an individual, determining the fatherhood and motherhood, and preventing the spread of pathogens by tracking the origin of the outbreak. Genetic evaluations allow examiners to assess genetic make-up and several deviations, including significant structural changes in DNA and single nucleotide polymorphisms, by identifying genetic differences through biological assays. Apart from this, genotyping offers high efficiency, operational flexibility, and access to multiple parameters in single testing; thus, it finds extensive applications in agricultural biotechnology, diagnostics, and research institutes.

Global Genotyping Market Trends:

The increasing demand for genotypic-based diagnostic testing and bioinformatics solutions in data analysis and the increasing prevalence of various genetic disorders are primarily driving the market growth. The adoption of genotyping in the healthcare industry helps practitioners make point-of-care decisions and develop personalized medicines by analyzing multiple markers and probes, detecting sample outliers, and identifying relevant genetic variations for implementation. In line with this, the extensive utilization of genotyping in pharmacogenomics, animal genetics, food hygiene determination, and atmospheric testing in distant places or industrial settings, forensics, and drug development to provide information for the practice of personalized medicine regarding the proper medication and dosage is acting as another growth-inducing factor. Additionally, the rising health concerns and the sudden outbreak of the COVID-19 pandemic across the globe prompted pharmaceutical companies to introduce genotyping kits to detect SARS-CoV-2 variants, which is contributing to the market growth. Moreover, the advent of technologies that offer superior accuracy in disease diagnosis and the uptake of single nucleotide polymorphisms (SNP) genotyping for formulating effective medications are positively stimulating the market growth. Furthermore, significant improvements in the healthcare infrastructure have augmented the need for reagents in genotyping tests, which is impelling the market growth. Other factors, such as the escalating consumer awareness regarding the availability of personalized medicines and ongoing research and development (R&D) activities in the precision medicine research field, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 57.4 Billion by 2032, growing at a CAGR of 12.5% during 2024-2032.

Market Summary:

• Based on the product and service, the market has been classified into instruments, reagents and kits, and software and services.
• On the basis of technology, the market has been segregated into polymerase chain reaction (PCR), capillary electrophoresis, microarray, sequencing, mass spectrometry, and others.
• Based on the application, the market has been segmented into pharmacogenomics, diagnostics and personalized medicine, agricultural biotechnology, animal genetics, and others.
• On the basis of the end user, the market has been categorized into pharmaceutical and biopharmaceutical companies, diagnostics and research laboratories, academic institutes, and others.
• On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
• The competitive landscape of the industry has also been examined, with some of the key players being Agilent Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Eurofins Scientific SE, F. Hoffmann-La Roche AG, Illumina Inc., Laboratory Corporation of America Holdings, Qiagen N.V, Standard BioTools Inc. and Thermo Fisher Scientific Inc.

Report Scope:

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