Rising investments by public and private organizations in R&D and decreasing costs of DNA sequences are some major factors driving market revenue growth.
Rising investments by public and private organizations in R&D and decreasing costs of DNA sequences are some major factors driving market revenue growth
The global genotyping assay market size is expected to reach USD 87.9 Billion in 2028 and register a revenue CAGR of 22.4%, according to the latest report by Reports and Data. Some key factors such as reduction in prices of DNA sequencing and increasing awareness about personalized medicine are factors driving global market revenue growth.
Genotyping assay is a widely used method for determining DNA sequence and genetic composition by comparing it with other sequences. High efficiency, operational flexibility, and access to multiple parameters in a single testing are some essential features of modern genotyping assays. Market revenue growth is attributed to factors such as increasing funding by governments of various countries to support genotyping assay techniques, rising cases of chronic and genetic diseases across the globe, and high demand for these assays in research and educational institutes.
Moreover, increasing investments by major market players in R&D to develop more accurate and precise products is expected to create new lucrative revenue opportunities in the years to come.
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Some Key Highlights from the Report:
- Based on product and service, the reagents and kits segment accounted for largest revenue share in 2020 and is expected to continue to contribute major revenue share over the forecast period. High demand for reagents and analysis kits is attributed to increasing research activities in the field of genotyping assay techniques, rising number of genotyping testing, and availability of new products.
- Based on technology, sequencing segment is expected to account for substantially large revenue share during the forecast period, owing to factors such as advancements in genotyping assay technology, high demand for DNA sequencing, and growing adoption of NGS globally.
- On the basis of end-use, the academic institutes segment is expected to register robust revenue CAGR throughout the forecast period, owing to rising funds provided by governments for research and increasing collaborations between major players and academic organizations for drug development.
- North America is expected to account for largest revenue share in the global genotyping assay market during the forecast period, owing to presence of well-developed healthcare facilities, availability of funds for genotyping-based projects, and dominance of well-established market players.
- Asia Pacific is expected to register a robust revenue CAGR throughout the forecast period, owing to increasing prevalence of chronic and genetic diseases, and growing awareness regarding importance of genotyping testing among people. Additionally, increasing trials and clinical research activities conducted by various pharmaceutical companies in countries in the region is expected to market revenue growth.
- Some major companies profiled in the market report are Thermo Fisher Scientific, Illumina, QIAGEN (Netherlands), Agilent Technologies, Danaher Corporation, Roche Diagnostics (Switzerland), GE Healthcare, Fluidigm Corporation, PerkinElmer, Eurofins Scientific (Luxembourg), Bio-Rad Laboratories, Pacific Biosciences of California, GENEWIZ, and Integrated DNA Technologies.
- In February 2021, Novacyt S.A launched a new and innovative portfolio of assays called SNPsig to help diagnose new variants of SARS-CoV-2.
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For this study, Reports and Data has segmented the global genotyping assay market based on product and services, technology, application, end-use, and region:
Product & Service Outlook (Revenue, USD Billion, 2018 - 2028)
- Reagents & Kits
- Genotyping Services
- Instruments
- Sequencers & Amplifiers
- Analyzers
- Bioinformatics
- Software
- Services
Technology Outlook (Revenue, USD Billion, 2018 - 2028)
- PCR
- Real-time PCR
- Digital PCR
- Microarrays
- Sequencing
- NGS
- Pyrosequencing
- Sanger Sequencing
- Capillary Electrophoresis
- Amplified Fragment Length Polymorphism
- Restricted Fragment Length Polymorphism
- Single-stranded Conformation Polymorphism
- MALDI-TOF
- Other Technologies
- Allele-specific Oligonucleotide (ASO) Probes
- Fluorescence In Situ Hybridization (FISH))
Application Outlook (Revenue, USD Billion, 2018 - 2028)
- Pharmacogenomics
- Diagnostic & Personalized Medicine
- Agricultural Biotechnology
- Animal Genetics
- Other Applications
- Prenatal Testing
- Human Forensics
- Microbial Genomic Studies
- Aquaculture Breeding Studies
End-Use Outlook (Revenue, USD Billion, 2018 - 2028)
- Pharmaceutical and Biopharmaceutical Companies
- Diagnostic and Research Laboratories
- Academic Institutes
- Other End-use
- Animal and Aqua Genetics Companies
- Greenhouses
- Farms
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Regional Outlook: (Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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