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As per The Business Research Company’s Genotyping Global Market Report 2023, The global genotyping market is expected to grow from $16.94 billion in 2022 to $19.71 billion in 2023 at a compound annual growth rate (CAGR) of 16.3%. The size of genotyping market is expected to reach $36.35 billion in 2027 at a CAGR of 16.5%.

What was the major driver in the genotyping market?
The rising prevalence of cancer and genetic disorders is expected to propel the growth of the genotyping market going forward. Cancer refers to a broad collection of illnesses that can begin in practically any organ or tissue of the body, while genetic disorders refer to a condition wholly or partially brought on by a deviation from the usual DNA sequence. Scientists can use genotyping to investigate genetic variances such as single nucleotide variations, copy number variations, and substantial structural changes in DNA. Genetic testing, or genotyping, looks for specific gene mutations (changes) that may raise a person’s risk of acquiring certain cancers. For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based organization and branch of the National Institutes of Health, it’s predicted that there will be 1,918,030 new cancer cases and 609,360 cancer deaths, with lung cancer accounting for the majority of those deaths with roughly 350 fatalities every day as compared to 1,898,160 new cancer cases and 608,570 cancer-related deaths in 2021. Furthermore, in February 2023, according to Gene People UK, a UK-based registered charity, it is estimated that 1 in every 25 children has a hereditary condition. This implies that 30,000 babies and children are newly diagnosed in the UK annually, and more than 2.4 million children and adults have a genetic disorder. Therefore, the increasing prevalence of cancer and genetic disorders is driving the growth of the genotyping market.

View More On The Genotyping Market Report 2023 – https://www.thebusinessresearchcompany.com/report/genotyping-global-market-report

What was the key trend in the genotyping market?
Product innovations are a key trend gaining popularity in the genotyping market. Companies operating in the genotyping market are adopting innovative solutions to sustain their position in the market. For instance, in May 2022, Neogen, a US-based food safety company, and Gencove Inc., a US-based provider of a sequencing platform for genome discovery, launched InfiniSEEK, an innovative and cost-effective solution for whole genome sequencing and targeted SNP (single nucleotide polymorphism) analysis. It is the first whole-genome and genotyping sequencing solution for cattle breeders. With InfiniSEEK, the industry now has a platform to reliably manage more than 400 bovine genetic characteristics and circumstances, discover new variables impacting desirable phenotypes, and decrease selection bias by sequencing more or all of a population. With the release of this unique service, consumers now have a data-rich, cost-effective method of profiling cattle worldwide by combining genome-wide sequencing data, specific genetic traits, and parentage markers.

Which was the largest region in the genotyping market?
North America was the largest region in genotyping market in 2022. The regions covered in genotyping report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the genotyping market prominent players?
Major players in the genotyping market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Eurofins Scientific SE, Agilent Technologies, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN NV, BGI Genomics, LGC Biosearch Technologies, GenScript Biotech, Inotiv, Takara Bio Inc., Integrated DNA Technologies Ltd., 23andMe Inc., Novogene Corporation, Oxford Nanopore Technologies, Macrogen Inc., Pacific Biosciences of California, Standard BioTools Inc., GENEWIZ, Transnetyx, Agena Bioscience Inc., Genotypic Technology Pvt Ltd., BMG LABTECH GmbH, Bioline, Biofortuna Limited, and Xcelris Genomics.

Key genotyping market segments
The global genotyping market is segmented –
1) By Product And Services: Instruments, Reagents And Kits, Bioinformatics, Genotyping Service
2) By Technology: Microarrays, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction, Matrix-Assisted Laser Desorption Or Ionization (Maldi-Tof) Mass Spectrometry, Other Technologies
3) By Application: Pharmacogenomics, Diagnostics and Personalized Medicine, Animal Genetics, Agricultural Biotechnology, Other Applications
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Diagnostics And Research Laboratories, Academic Institutes, Other End-Users

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The Genotyping Global Market Report 2023  provides a comprehensive overview on the genotyping market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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