Genotyping Market: Software & Services Segment Is Also Anticipated To Expand At A Significant Rate

 Genotyping Industry Overview

The global genotyping market size is expected to reach USD 46.5 billion by 2030, expanding at a CAGR of 15.6%, according to a new report by Grand View Research Inc. Factors such as the rising prevalence of genetic diseases, rising awareness and research for personalized medicine, and increasing R&D funding for genomics research is expected to contribute to this growth.

 

Governments in multiple countries are taking various initiatives to provide support and funding to research organizations for personalized medicine, and genotyping research is anticipated to drive the market. For instance, in August 2019, NIH funded USD 4.6 million initial grants to Color, a health technology company, for precision medicine initiatives and development. Similarly, in 2018, the Government of Australia launched the Australian Genomics Health Futures Mission initiative. The government will provide USD 500 million over a period of 10 years for this mission, and the funding will be sourced from Medical Research Future Fund to improve the testing and diagnosis of genetic diseases and for the development of personalized medicine.

 

Genotyping Market Segmentation

Grand View Research has segmented the global genotyping market based on product, technology, application, end-use, and region:

Based on the Product Insights, the market is segmented into Instruments, Reagents and kits, and Services.

• The reagents & kits segment held the largest share in 2021. It is expected to expand at a CAGR of 15.8% during the forecast years. This is due to the increasing demand for genetic testing, rising investments in R&D, and increasing genotyping testing volumes.
• The software & services segment is also anticipated to expand at a significant rate due to the rise in the adoption of software-based services by research laboratories and academic institutions.
• Bioinformaticssolution improves the efficacy of sequencing methods and helps avoid errors that occur in traditional sequencing methods. These services find application in agrigenomics, human diseases, animal livestock, and microbes.

 

Based on the Technology Insights, the market is segmented into PCR, Capillary Electrophoresis, Microarray Sequencing, Mass Spectrometry, and Other.

• PCR segment dominated the market and accounted for the largest revenue share in 2021. This high market share is attributable to increasing demand for advanced diagnostic techniques, rising number of CROs, forensic & research laboratories, and growing prevalence of diseases such as chronic diseases & genetic disorders are major factors expected to drive market growth.
• Sequencing is expected to expand at a lucrative rate during the forecast period due to improved specificity and better ability to detect low expression & differentially expressed genes than other techniques. Genotyping by sequencing also helps perform comparative analysis across samples without the need for a reference genome.

 

Based on the Application Insights, the market is segmented into Diagnostics, Drug Discovery and Development, Personalized Medicine, Academic Research, Agriculture, and Others.

• Pharmacogenomics is expected to be the fastest-growing technology during the forecast period. Genotyping helps identify patients suitable for a particular drug based on the patients’ genetic makeup. Identifying population subsets that are responsive or non-responsive help deliver tailor-made treatment to these individuals with different genetic makeup and helps reduce clinical trial attrition.
• Diagnostics and personalized medicineaccount for the highest share in genotyping market, owing to the rising adoption of genotyping products for research and the increasing need for the diagnosis of genetic diseases. In addition, strategic collaborations among players are expected to boost the market growth. 

 

Based on the End-Use Insights, the market is segmented into Pharmaceutical And Biopharmaceutical Companies, Diagnostics And Research Laboratories, Academic Institutes, and Others.

• The diagnostics and research laboratories segment is expected to expand at the fastest CAGR rate during the forecast period, owing to the rising adoption of genotyping products for research and the increasing need for diagnosis of genetic diseases & cancer.
• The biopharmaceutical and pharmaceutical companies segment is expected to expand at a CAGR of 15.9% during the forecast period. The growing need for pharmacogenomics in the drug development process and FDA recommendations to include pharmacogenomics studies & genotyping in the drug discovery process are factors expected to drive market growth.

 

Genotyping Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Key players are adopting strategies, such as partnerships and new product launches to retain market share. For instance, in January 2020, Illumina and Roche collaborated to improve patient access to oncology genomic testing. Furthermore, in September 2021, Illumina under its Illumina Accelerator program invested in seven genomics companies across various countries.

Some of the prominent players in the global genotyping market include:

• Illumina Inc.
• Thermo Fisher Scientific Inc.
• Qiagen Inc.
• Hoffmann-La Roche Ltd.
• Fluidigm Corporation
• Danaher Corporation
• Agilent Technologies
• Eurofins Scientific Inc.
• GE Healthcare Inc.
• Bio-Rad Laboratories Inc.

 

Order a free sample PDF of the Genotyping Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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