The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Genotyping Assay Global Market Report 2024, the genotyping assay market is expected to show promising growth in the forecast period.

Market Overview: Explosive Growth

• Rapid Expansion: From $27.7 billion in 2023 to $33.98 billion in 2024, with a staggering CAGR of 22.7%.
• Future Projections: Expected to reach $77.77 billion in 2028, with a continued robust CAGR of 23.0%.
• Driving Factors: Customization, health trends, e-commerce, and innovation in smart glassware are key growth drivers.

Rising Genetic Disorder Prevalence Drives Market Growth

• Understanding Genetic Disorders: Abnormalities in DNA lead to genetic disorders, spurring demand for genotyping assays.
• Global Impact: Reports from the UK highlight the prevalence, affecting thousands annually.
• Market Response: Increased demand for genotyping assays to identify genetic mutations associated with disorders.

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Major Players in the Market

• Key Companies: F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Danaher Corporation, and more.
• Innovative Solutions: CE-IVD marked assays targeting treatment-resistant strains of HIV-1 demonstrate advancements in genomic research.
• Market Expansion: Acquisitions, like Transnetyx Inc.’s acquisition of Laragen Inc., broaden service portfolios and access to genetic services.

Market Segmentation and Regional Insights

• Segmentation Overview: By product and service, technology, and end-user.
• Regional Trends: North America leads the market, with Asia-Pacific expected to witness rapid growth.

Conclusion

The genotyping assay market experiences remarkable growth, fueled by technological advancements and increasing awareness of genetic disorders. As major players innovate and expand their offerings, coupled with rising demand for personalized medicine and diagnostics, the market is poised for substantial expansion in the coming years. With ongoing trends in customization, health consciousness, and innovation, the future of the genotyping assay market looks promising.

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