Unlocking Opportunities in the Genotyping Assay Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Genotyping Assay Market, and How Will It Perform by 2034?
The market size for genotyping assays has seen enormous growth in recent times. Its size is set to rise from $33.98 billion in 2024 to $41.6 billion in 2025, with a compound annual growth rate (CAGR) of 22.4%. Factors such as the use of traditional glassware, cultural and lifestyle shifts, economic elements, the expansion of the hospitality and foodservice industry, and trends in gifts and decor have contributed to the growth during the historic period.
The genotyping assay market is forecasted to witness tremendous expansion in the coming years, with its worth expected to reach $95.5 billion by 2029, growing at a compound annual growth rate (CAGR) of 23.1%. The surge in growth during this projected period can be linked to factors such as customization and personalization, health and wellness trends, the boom in e-commerce, the rise of smart and functional glassware, along with culinary and mixology trends. Pivotal trends projected for this period include advancements in material, innovative shapes and designs, smart glass tech, specialized beverage glassware, and health and safety features.
What Strategic Factors Are Influencing the Accelerated Growth of the genotyping assay Market?
The surge in genetic disorders is projected to boost the development of the genotyping assay market. Genetic disorders refer to health issues resulting from irregularities or mutations in a person’s deoxyribonucleic acid (DNA). Genotyping assays analyze the DNA of people with these disorders and compare it to the DNA of healthy individuals, enabling them to detect changes and discover distinctive genetic mutations or variations associated with specific genetic disorders. For example, in June 2023, Gene People, a charity based in the UK that supports people with genetic conditions, revealed that one out of every 25 children in the UK suffers from a genetic disorder. This impacts roughly 30,000 newborns and young kids in the nation and over 2.4 million children and adults annually. Thus, the escalating frequency of genetic disorders is fuelling the expansion of the genotyping assay market. The demand for personalized medicine, which provides healthcare interventions designed for an individual’s unique genetic structure, is on the rise and is predicted to accelerate the genotyping assay market growth. Genotype assays play a crucial role in personalized medicine by evaluating an individual’s genetic structure to customize medical treatments, select apt drugs, and decide on dosages based on their unique genetic profile. In January 2023, the Food and Drug Administration, a federal agency in the US, reported that the Center for Drug Evaluation and Research (CDER) granted approval to 37 new molecular entities (NMEs) in 2022. About 34% of the 35 therapeutic NMEs, equal to 12 NMEs, are identified as personalized medicines by the Personalized Medicine Coalition (PMC). Thus, the burgeoning demand for personalized medicine is propelling the growth of the genotyping assay market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Genotyping Assay Market?
Major companies operating in the genotyping assay market report are:
• F. Hoffmann-La Roche Ltd._x000D_
• Thermo Fisher Scientific_x000D_
• Danaher Corporation_x000D_
• Eurofins Scientific SE_x000D_
• Agilent Technologies Inc._x000D_
What Are the Key Emerging Trends in the Genotyping Assay Market for the Next Decade?
Key players in the genotyping assay market are pioneering advancements in genomic studies, such as the CE-IVD marked assay for identifying treatment-resistant HIV-1 strains. This is made possible through the Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit, a Sanger sequencing-based test that analyses positive HIV samples for genetic variations that could resist standard antiretroviral treatments. For example, in January 2023, Thermo Fisher Scientific, a US-based firm, launched the aforementioned kit. It detects HIV-1 strains resistant to current treatments and contains several unique features. These include the ability to identify genomic mutations using HIV RNA, detect drug resistance mutations, leverage gold-standard Sanger sequencing technology, and its design for clinical purposes. The introduction of the Applied Biosystems TaqPath Seq HIV-1 Genotyping Kit enhances the ability to detect treatment-resistant HIV-1 strains, includes ready-to-use reagents and controls, fulfils regulatory standards, delivers high-performance and complements existing sequencing platforms and processes.
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Which Segments Play a Crucial Role in the Expansion of the 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
Which Regions Are Making a Mark in 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.
How Is the Genotyping Assay Market Categorized and Defined in the Industry?
A genotyping assay is a laboratory technique or method used to determine an individual’s genetic makeup at specific genetic loci or positions within their DNA. It identifies and analyzes genetic variations, such as single nucleotide polymorphisms (SNPs) or insertions or deletions, that exist in an individual’s genome.
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