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.
In depth research report
on adhesives and 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
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
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
Japan
·
China
·
Latin America
·
Brazil
·
MEA
·
South Africa
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About 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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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