Genotyping Market Size to Worth Around USD 67.60 Billion by 2032

Ottawa, July 04, 2023 (GLOBE NEWSWIRE) -- The genotyping market size was valued at USD 16.9 billion in 2022. The global genotyping market growth is driven by the rising prevalence of target diseases, such as cancer, Alzheimer’s, and diabetes, rising R&D expenditure for precision medicine research, increasing investment by government and pharma & biotechnology firms, rising demand for genotyping of animal & plant livestock, increasing application areas for genotyping and the increasing importance of SNP Genotyping for the drug development process.

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Market Overview

Genotyping refers to the approach used to examine an individual's genetic variants by seeing an individual's DNA sequence. Genotype is the heritable information that is carried by all living organisms. Any minor changes in genotype can lead to major differences in phenotype, the observable traits resulting from the combination between genotype and environmental factors. Variation is used to define the features that are distinct within a population of different individuals or within a single species.

Genotyping is a technology used to find genetic variations among populations or individuals to comprehend the biological systems, know the risk for the disorder, or choose the appropriate treatment options. Both genetic and environmental differences play a vital role in phenotypic features. As environmental changes may not be heritable, many researchers are keen on studying genetic variations that result in physical differences. Genetic variation is usually passed to the next generation. Genotyping permits scientists to explore genetic variants including copy number variants, single nucleotide variants, and large structural changes in DNA. The high-throughput genomic technologies such as NGS and microarrays offer a better understanding of a disease’s etiology on a molecular level. With various genomic targets potentially contributing to disease, analysis requires accuracy as well as flexibility.

The rise in genetic diseases such as cancer, diabetes, and Alzheimer’s positively impacts the growth of the market. Delivering rapid sequencing and early diagnosis assists in the treatment of such diseases by healthcare professionals. Genotyping includes a comparison of the identified DNA sequence against a sequence from another sample or a reference sequence.  The advancement in technology helps in reducing errors and delivering effective results and it also helps to increase the penetration rates of the genotyping products. Additionally, the market has grown due to the decreasing prices of DNA sequencing due to technological advancement. Furthermore, the increasing prevalence of genetic disorders is projected to fuel the global genotyping market during the forecast period.

Regional Insights

North America is expected to dominate the market due to the increasing healthcare infrastructure, continuous technological advancements in genotyping products, increasing government support, increasing awareness regarding personalized medicines, presence of prominent market players, and rising investments in research and development projects focusing on genomic drug development.

On the other hand, Europe is expected to register a CAGR during the forecast period owing to the increasing adoption of advanced technology, increasing pharma and biopharma companies, and the rise in healthcare infrastructure and medical facilities.

Report Highlights

• By Product, the reagents & kits segment is expected to expand at a robust growth rate during the forecast period owing to the rising use of reagents & kits for genotyping, increasing investments in R&D projects, and growing demand for genetic testing.
• By Technology, in 2022, the Polymerase Chain Reaction (PCR) segment is predicted to hold the largest market share owing to the growing prevalence of genetic disorders, the growing need for advanced diagnostic techniques, and the increasing number of forensic & research laboratories.
• By Application, in 2022, the Pharmacogenomics segment is expected to dominate the global genotyping market and is expected to retain its dominance during the forecast period owing to the rising usage of genotyping in drug development. Pharmacogenomics is a field of research that studies indicate how he or she responds to medications. Using pharmacogenomics to enhance the benefits of medications and minimize health care costs. It assists doctors to choose the appropriate drugs as well as doses best suited for an individual. It is part of precision medicine that tends to treat and manage each patient’s disease individually.
• By End Users, the diagnostics and research laboratories segment is projected to register a considerable CAGR during the forecast period owing to the rising adoption of genotyping products and the rising prevalence of chronic disorders increasing the demand for diagnostic tests.

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Scope of this report

Market Dynamics

Drivers

Increasing prevalence of chronic diseases

The increasing prevalence of chronic diseases such as cancer and genetic disease is rapidly increasing across the globe and is projected to spur the demand for genotypic-based diagnostic testing. A genetic disorder is caused in whole or in part by a change in the DNA (deoxyribonucleic acid) sequence away from the normal sequence. Genetic disorders can be caused by mutations in multiple genes, by a mutation in one gene, by a combination of gene mutations and environmental factors, or by damage to chromosomes. For instance, According to the International Agency for Research on Cancer (IARC), the cancer burden across the globe is expected to have risen to 19.3 mn new cases and 10 mn deaths in 2020. 1 in 5 people globally develops cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. Cancer-causing viruses, such as human papillomavirus (HPV) and hepatitis, are also responsible for nearly 30% of cancer cases in low- and lower-middle-income countries. Thus, the increasing prevalence of cancer is projected to have a positive impact on this market.

Restraint

Lack of skilled professional

The lack of skilled professionals is projected to hamper the growth of the market. The lack of skilled professionals in developing countries is anticipated to slow down the growth of the market. As genotyping data analysis requires high levels of expertise. Presently, there are fewer experts and professionals in many developing nations. In addition, unfavorable reimbursement policies are likely to limit the expansion of the global genotyping market during the forecast period.

Opportunities

Increasing application areas for genotyping

Increasing application areas for genotyping including pharmacogenomics, personalized medicine, diagnostic research, and others, is expected to drive the growth of the genotyping market during the forecast period. This method is implemented in an extensive range of veterinary applications, food safety, and environmental testing in remote locations and industrial environments. Personalized medicine is a practice of medicine that uses an individual's genetic profile to offer decision-making regarding the prevention, diagnosis, and treatment of the disorder.

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Recent Developments:

• In December 2021, In countries that accept the CE Mark, Roche launched the first infectious disease tests and cobas omni utility channel for use on the Cobas 5800 system. With an aim to reduce the burden of infectious diseases. It is to support patient management of human immunodeficiency virus, Hepatitis B, and C virus as well as enable healthcare providers to deliver high-quality care to patients.
• In June 2021, NEOGEN Corporation collaborated with the Center for Aquaculture Technologies (CAT) to offer better quality genotyping services tailored to the specific demands of aquaculture producers. The expertise of CAT and NEOGEN is anticipated to implement modern sequencing and genotyping technologies for aquaculture species. The collaboration will enable organizations of any size to recognize the advantage of increased accuracy of selection as well as gains in performance by incorporating genetic markers into their selective breeding programs.

Market Segmentation

By Product

• Instruments
• Sequencers & Amplifiers
• Analyzers
• Reagents & Kits
• Software and Services
• Genotyping Services

By Application

• Pharmacogenomics
• Diagnostics and Personalized Medicine
• Agricultural Biotechnology
• Animal Genetics
• Others
  
  

By Technology

• PCR
  • Real-time PCR
  • Digital PCR
• Capillary Electrophoresis
  • Amplified Fragment Length Polymorphism
  • Restriction Fragment Length Polymorphism
  • Single-Strand Conformation Polymorphism
• Microarrays
  • DNA Microarrays
  • Peptide Microarrays
  • Others
• Sequencing
  • Next Generation Sequencing
  • Pyro Sequencing
  • Sanger Sequencing
• Matrix-Assisted Laser Desorption/Ionization-Time of Flight (Maldi-TOF) Mass Spectroscopy
• Others
  
  

By End Users

• Pharmaceutical And Biopharmaceutical Companies
• Diagnostics And Research Laboratories
• Academic Institutes
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
  
  

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