The global genotyping market is expected to reach USD 37.1 billion
by 2024 according to a new report by Grand View Research, Inc. The increasing
demand for genotyping tests to evaluate drug efficacy and safety is one of the
major drivers for the genotyping market. Genotyping tests are widely used in
selecting a highly responsive, patient population subset against a specific
drug candidate before initiating clinical trials. The rising need for
affordable genotyping services coupled with the high demand for personalized
medicines is also expected to propel the market growth.
Major pharmaceutical companies are
collaborating with diagnostic manufacturers for the development of novel
biomarker-based therapeutics. Significant opportunities for the growth of this
market are anticipated due to the above-mentioned collaborative
initiatives.
The increasing awareness for prenatal
genetic testing pertaining to early detection of chromosomal abnormalities in
the high-risk population, the introduction of technological advancements, and
the increasing R&D funding are the other factors accentuating the market
growth over the forecast period.
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Research : http://www.grandviewresearch.com/industry-analysis/genotyping-market
Further key findings from the study suggest:
·
The reagents and kits segment dominated the
product segment in 2015. Extensive usage of reagents for research activities
and the wide applicability of the genotyping tests in disease diagnosis and
validation are the factors responsible for its large share
·
The reagent and kits segment is also
anticipated to witness the highest growth over the forecast period. The major
factors responsible for the lucrative growth of this segment are a high amount
of R&D activities undertaken by research and academic institutes for the
development of novel genetic biomarkers.
·
In 2015, the polymerase chain reaction
technology captured a significant market share owing to the higher acceptance
levels by researchers and the introduction of technologically advanced and
user-friendly products
·
The diagnostic center was one of the
largest segments with a market share of over39.0% in 2015. The rising demand
for genotyping tests coupled with the high awareness for genetic disorders is a
key driver for its large market share. Personalized medicine is expected to
grow at a significant growth rate over the forecast period due to the
increasing demand for the efficient and fast-acting therapeutics under the
precision medicine category.
·
North America held the largest share of
thegenotyping market in 2015.The rising healthcare expenditure, established
R&D infrastructure, and the increasing awareness among doctors for
hereditary genetic disorders are the factors contributing to the large share.
·
Asia Pacific is anticipated to be the
fastest growing regional segment during the forecast period. The introduction
of favorable government initiatives and programs, the geographical expansion of
major players in this area, and the growing target population base are some of
the factors expected to push forward the market growth.
·
The key players include Affymetrix, Inc.,
Agilent Technologies, Inc., Genewiz, Inc., Fluidigm Corporation, GE Healthcare
GmbH, Illumina, Inc., Thermo Fisher Scientific, Inc., Qiagen NV, and Roche
Diagnostics
·
In April 2016, Siemens Healthcare GmbH and
Thermo Fisher Scientific, Inc. declared a strategic collaboration for the
development of an advanced and integrated genotyping platform. This agreement
aimed to introduce enhanced flexibility and customizability to their molecular
testing solutions.
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Research: https://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the
genotyping market on the basis of product, technology, application, and region:
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
Genotyping Market Regional Outlook, by Revenue (USD
Million, 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o Japan
o China
·
Latin America
o Brazil
·
MEA
o South Africa
View press release of this research
report by Grand View Research:
https://www.grandviewresearch.com/press-release/global-genotyping-marketAbout Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
