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“The global genotyping market is projected to grow at a CAGR of 22.0%.”
The genotyping market is expected to reach USD 31.9 billion by 2023 from an estimated USD 11.8 billion in 2018, at a CAGR of 22.0%. Technological advancements, the decreasing prices of DNA sequencing, and the increasing incidence of genetic diseases are expected to drive the growth of the global genotyping market. However, the high cost of equipment is expected to restrain market growth to a certain extent during the forecast period.
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“Pharmacogenomics application segment to witness the highest growth during the forecast period.”
On the basis of application, the genotyping market is segmented into pharmacogenomics, diagnostic & personalized medicine, agricultural biotechnology, animal genetics, and other applications. The pharmacogenomics segment is expected to register the highest CAGR during the forecast period. The increased use of genotyping to predict the efficiency of drugs during drug development and the growing need to understand the adverse effects of drugs are the major factors driving the growth of this market segment.
“Pharmaceutical and biopharmaceutical companies end-user segment is expected to grow at the highest CAGR during the forecast period.”
On the basis of end user, the genotyping market is segmented into pharmaceutical & biopharmaceutical companies, diagnostic & research institutes, academic institutes, and other end users. The pharmaceutical & biopharmaceutical companies segment is expected to witness the highest CAGR owing to the growing importance of biomarkers in genotyping used among these end users, given their applications in drug development which, in turn, will support the growth of this segment.
“APAC is projected to witness the highest growth during the forecast period.”
North America is expected to account for the largest share of the global genotyping market in 2018. On the other hand, the APAC region is expected to witness the highest CAGR during the forecast period, owing to the increasing incidence of chronic diseases and growing awareness on the use of genotyping tests to control the inheritance of genetic diseases & the spread of infectious and microbial diseases in APAC countries. The increasing outsourcing of clinical research and trials by pharmaceutical and biopharmaceutical companies to organizations in the APAC has driven the demand for genotyping products for drug profile assessment, drug efficacy, safety assessment, dosing determination, and drug response evaluation.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1 –46%, Tier 2–33%, and Tier 3–21%
- By Designation: C-level –43%, Director Level–35%, and Others–22%
- By Region: North America –34%, Europe–26%, Asia Pacific–19%, Latin America–11%, and the Middle East & Africa–10%
The prominent players in the global genotyping market are Thermo Fisher Scientific (US), Illumina (US), QIAGEN (Netherlands), Agilent Technologies (US), Danaher Corporation (US), Roche Diagnostics (Switzerland), GE Healthcare (US), Fluidigm Corporation (US), PerkinElmer (US), Eurofins Scientific (Luxembourg), Bio-Rad Laboratories (US), Pacific Biosciences of California (US), GENEWIZ (US), and Integrated DNA Technologies (US).
The report analyzes the market for various genotyping products and their adoption pattern. It aims at estimating the market size and future growth potential of the global genotyping market and different segments such as products, technology, applications, end users, and regions. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, and recent developments.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global genotyping market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the global genotyping market
- Market Development: Comprehensive information on the lucrative emerging regions by product, technology, application, end user, and region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global genotyping market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of leading players in the global genotyping market