Genotyping Assay Global Market Report 2024

A genotyping assay is a laboratory technique or method employed to determine an individual's genetic makeup at specific genetic loci or positions within their DNA. It involves the identification and analysis of genetic variations, such as single nucleotide polymorphisms (SNPs) or insertions and deletions, present in an individual's genome.

The primary products and services in the genotyping assay market include reagents and kits, genotyping services, instruments, and bioinformatics. Reagents and kits serve as crucial components in various scientific and laboratory processes, especially in fields such as molecular biology, chemistry, and diagnostics. Various technologies are employed in genotyping assays, including microarrays, polymerase chain reaction, sequencing, capillary electrophoresis, matrix-assisted laser desorption or ionization-time of flight mass spectrometry, and others. These technologies cater to diverse end-users such as pharmacogenomics, personalized medicine and diagnostics, animal genetics, agricultural biotechnology, research and diagnostic laboratories, and academic institutes.

The genotyping assay market research report is one of a series of new reports from The Business Research Company that provides genotyping assay market statistics, including genotyping assay industry global market size, regional shares, competitors with a genotyping assay market share, detailed genotyping assay market segments, market trends and opportunities, and any further data you may need to thrive in the genotyping assay industry. This genotyping assay market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The genotyping assay market size has grown exponentially in recent years. It will grow from $27.7 billion in 2023 to $33.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth observed in the historical period can be attributed to the traditional usage of glassware, cultural and lifestyle influences, economic factors, the growth of the hospitality and foodservice industry, and trends in gifts and decor.

The genotyping assay market size is expected to see exponential growth in the next few years. It will grow to $77.77 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The anticipated growth in the forecast period can be attributed to the trends of customization and personalization, the focus on health and wellness, the growth of e-commerce, the popularity of smart and functional glassware, and the influence of culinary and mixology trends. Major trends expected in the forecast period include material innovation, the introduction of innovative shapes and designs, the development of smart glassware, the creation of specialized glassware for specific beverages, and the incorporation of health and safety features.

The increasing prevalence of genetic disorders is expected to drive the growth of the genotyping assay market. Genetic disorders result from abnormalities or mutations in an individual's DNA. Genotyping assays play a crucial role in identifying and analyzing these genetic variations, enabling the detection of specific mutations or variations associated with particular genetic disorders. For example, Gene People, a UK-based charity organization, reported in June 2023 that approximately one in every 25 children in the UK had a genetic disorder, affecting around 30,000 newborns and young children annually, along with more than 2.4 million children and adults. Hence, the growing prevalence of genetic disorders is a significant factor contributing to the expansion of the genotyping assay market.

The rising demand for personalized medicine is another key driver for the growth of the genotyping assay market. Personalized medicine involves tailoring medical treatment to an individual's unique genetic makeup, offering more precise and effective healthcare interventions. Genotyping assays are essential in personalized medicine to analyze an individual's genetic profile, enabling customized drug selection and dosage. In January 2023, the Food and Drug Administration (FDA) reported that out of the 35 therapeutic new molecular entities (NMEs) approved in 2022, approximately 34% (12 of them) were classified as personalized medicines by the Personalized Medicine Coalition (PMC). This highlights the increasing demand for personalized medicine, which, in turn, is propelling the growth of the genotyping assay market.

The growth of the genotyping assay market faces a significant challenge due to the high cost of equipment, which pertains to specialized devices used in genetic analysis to determine an individual's genotype. This cost obstacle hinders market expansion by limiting smaller laboratories' access, creating budgetary constraints, reducing adoption rates, diverting resources, influencing ROI considerations, facing competitive pressures, and establishing barriers to market entry. For example, Illumina, Inc., a US-based biotechnology company, states that basic PCR machines can start at $5,000, while advanced RT-PCR or qPCR systems range from $15,000 to over $90,000. Moreover, the latest DNA sequencing machines have a base machine priced at $985,000, with a more advanced version available for $1.25 million, thereby restraining the genotyping assay market's growth.

Key players in the genotyping assay market are actively advancing genomic research, such as the development of CE-IVD marked assays to detect treatment-resistant strains of HIV-1. An example is the CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit by Thermo Fisher Scientific, launched in January 2023. This Sanger sequencing-based assay examines HIV-positive samples to identify genetic variants resistant to common antiretroviral therapeutics. The kit's unique features include assessing genomic mutations, utilizing HIV RNA, detecting drug resistance mutations through gold-standard Sanger sequencing technology, and being designed for clinical use. This product launch adds value by enhancing the detection of treatment-resistant HIV-1 strains, providing ready-to-use reagents and controls, meeting regulatory requirements, exhibiting high-performance characteristics, and being compatible with existing sequencing platforms and workflows.

In August 2023, Transnetyx Inc., a US-based biotechnology company, acquired Laragen Inc. for an undisclosed sum. Through this acquisition, Transnetyx aims to broaden its solutions by incorporating sequencing and next-generation sequencing (NGS) services, offering large research institutes improved access to cutting-edge genetic services. Laragen Inc., also based in the US, specializes in providing sequencing and genotyping assay services for DNA.

Major companies operating in the genotyping assay market report are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Danaher Corporation, Eurofins Scientific SE, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Qiagen NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv Inc., Promega Corporation, Luminex Corporation, Integrated DNA Technologies Inc., Integrated DNA Technologies Ltd., Sequenom Inc., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies PLC, GenMark Diagnostics Inc., Macrogen Inc., Pacific Biosciences of California Inc., Standard BioTools Inc., Genewiz Inc., New England Biolabs, TrimGen Corporation, Xcelris Genomics

North America was the largest region in the genotyping assay market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genotyping assay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the genotyping assay market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The genotyping assay market includes revenues earned by entities that provide genotyping assay services such as single nucleotide polymorphisms (SNPs) genotyping, short tandem repeats (STRs) genotyping, whole genome genotyping, and clinical genotyping services. The market value includes the value of related goods sold by the service provider or included within the service offering. The genotyping assay market consists of sales of products such as polymerase chain reaction (PCR) primers, SNP genotyping kits, DNA extraction kits, and microarray chips. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Genotyping Assay Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on genotyping assay market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for genotyping assay ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The genotyping assay market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product And Service: Reagents And Kits; Genotyping Services; Instruments; Bioinformatics
• 2) By Technology: Microarrays; Polymerase Chain Reaction; Sequencing; Capillary Electrophoresis; Matrix-assisted Laser Desorption Or Ionization-Time Of Flight Mass Spectrometry; Other Technologies
• 3) By End-User: Pharmacogenomics; Personalized Medicine And Diagnostics; Animal Genetics; Agricultural Biotechnology; Research And Diagnostic Laboratories; Academic Institutes
• Companies Mentioned: F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific; Danaher Corporation; Eurofins Scientific SE; Agilent Technologies Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.