How is the Genotyping Assay Market Poised for Growth: Trends and Opportunities Through 2034
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How has the Genotyping Assay market grown over the years?
The market size of the genotyping assay has seen massive growth lately. It’s projected to expand from a value of $33.98 billion in 2024 to about $41.6 billion in 2025, boasting a compound annual growth rate (CAGR) of 22.4%. The escalating growth seen during the past period can be linked to the utilization of conventional glassware, influences from culture and lifestyle patterns, economic conditions, expansion in the hospitality and foodservice sectors, along with the trends in gifts and decor.
What Is the forecasted market size and growth rate for the genotyping assay market?
In the coming years, the market size for genotyping assays is anticipated to witness massive expansion. It is projected to reach $95.5 billion by 2029, growing at a compound annual growth rate (CAGR) of 23.1%. The growth during the projected period can be ascribed to customisation and personalisation, health and wellness trends, the rise of e-commerce, advanced and functional glassware, as well as culinary and mixology trends. Key trends during this forecasted period include the innovation of materials, unique shapes and designs, intelligent glassware, dedicated glassware for beverages, alongside health and safety features.
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What are the major factors driving growth in the genotyping assay market?
The escalating occurrence of genetic disorders is anticipated to fuel the expansion of the genotyping assay market. These disorders refer to medical conditions triggered by abnormalities or mutations in an individual’s DNA. Genotyping assays facilitate comparison of the DNA of affected and healthy individuals to detect changes. They can identify distinct genetic mutations or variations related to a specific genetic disorder. For example, Gene People, a UK-based charity organization supporting individuals with genetic disorders, disclosed in June 2023 that one in every 25 children in the UK suffers from a genetic disorder. This impacts approximately 30,000 infants and young children as well as more than 2.4 million children and adults annually in the country. Consequently, the escalating incidence of genetic disorders is resulting in the growth of the genotyping assay market.
Genotyping Assay Market Driver: Ascending Demand For Customized Medicine Boosts Expansion In The Genotyping Assay Market
What key areas define the segmentation of the global genotyping assay Market?
The genotyping assay market covered in this report is segmented –
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
Subsegments:
1) By Reagents And Kits: DNA Extraction Kits, PCR Reagents, SNP Genotyping Kits, Genotyping Services, Genotyping by PCR, Whole Genome Sequencing Services, SNP Genotyping Services
2) By Instruments: PCR Machines, Sequencing Instruments, Microarrays
3) By Bioinformatics: Data Analysis Software, Genotyping Data Management Tools
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What are the top market players propelling the growth of the genotyping assay industry?
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
What are the key trends shaping the future of the genotyping assay market?
Significant players in the genotyping assay market, such as Thermo Fisher Scientific, are making strides in genomic research through advancements like the CE-IVD marked assay designed for identifying treatment-resistant HIV-1 strains. The CE-IVD marked Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit, a product of Thermo Fisher Scientific, uses Sanger sequencing-based assay to scrutinize positive human immunodeficiency virus (HIV) samples in order to detect any genetic differences that could resist typical antiretroviral treatments. Thermo Fisher Scientific, a firm based in the US, introduced this kit in January 2023. It incorporates unique characteristics including the capability to analyze genomic mutations utilizing HIV RNA, identify drug resistance mutations using a gold-standard Sanger sequencing technique, and is intended for clinical application. The introduction of the Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit has enhanced the detection of treatment-resistant HIV-1 strains, offered ready-to-use reagents and controls, met regulatory standards, demonstrated high-performance attributes and showed compatibility with existing sequencing platforms and workflows.
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What regions are dominating the genotyping assay market growth?
North America was the largest region in the genotyping assay market in 2024. 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.
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