In-Depth Insights into the Single Nucleotide Polymorphism (SNP) Genotyping Market: Growth, Trends, and Opportunities for 2025-2034
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What key factors are powering the surge in the single nucleotide polymorphism (snp) genotyping market right now?
The market size for single nucleotide polymorphism (SNP) genotyping has witnessed a remarkable expansion in the recent years. Forecasts indicate that it will surge from a value of $10.3 billion in 2024 to a whopping $12.37 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 20.1%. The observed growth during the historical period can be traced back to factors like an upswing in genomics research, an increasing incidence of genetic disorders, advancement in personalized medicine, expansion of the pharmaceutical sector, and an escalating demand for molecular diagnostics.
How fast Is the single nucleotide polymorphism (snp) genotyping market expected to grow, and what’s its future value?
There’s expected to be significant expansion in the single nucleotide polymorphism (SNP) genotyping market in the coming years. By 2029, it’s projected to reach a value of $24.95 billion, growing at a compound annual growth rate (CAGR) of 19.2%. Factors contributing to this growth during the estimation period include the increasing use in disease research, the heightened need for precise medication, broadened biobanking initiatives, a boost in genetic testing, and augmented use in agriculture for the enhancement of crops. The forecast period is likely to see trends such as the amplified use of next-generation sequencing (NGS), heightened demand for SNP genotyping in pharmacogenomics, the rise of direct-to-consumer genetic testing, an emphasis on automation, and the proliferation of high-output genotyping platforms.
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What are the leading drivers of growth in the single nucleotide polymorphism (snp) genotyping market?
The growth of the single nucleotide polymorphism (SNP) genotyping market is expected to be driven by the rising incidence of chronic conditions. These conditions, which can last for a year or more, require ongoing medical care and can limit daily activities. SNP genotyping is crucial in determining genetic predispositions and fostering personalized medicine, given the increasing occurrence of such chronic diseases. For example, the Australian Institute of Health and Welfare, a government agency based in Australia, reported in June 2024 that the mortality rate associated with chronic conditions increased from 459 deaths per 100,000 individuals in 2021 to 490 deaths per 100,000 individuals in 2022. As such, it’s clear that the escalating issue of chronic conditions is spurring the expansion of the single nucleotide polymorphism (SNP) genotyping systems market.
What are the key segments defining the single nucleotide polymorphism (snp) genotyping market?
The single nucleotide polymorphism (SNP) genotyping market covered in this report is segmented –
1) By Product: Consumables, Instruments, Services
2) By Technology: TaqMan SNP Genotyping, Mass Array SNP Genotyping, SNP Gene Chip Arrays, Other Technologies
3) By Application: Animal Genetics, Plant Improvement, Diagnostic Research, Pharmaceuticals And Pharmacogenomics, Agricultural Biotechnology, Other Applications
Subsegments:
1) By Consumables: Reagents And Kits, DNA Probes, Microarrays
2) By Instruments: SNP Genotyping Platforms, Sequencers, PCR Machines
3) By Services: SNP Genotyping Services, Data Analysis Services, Consultation Services
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Who are the key players steering the development of the single nucleotide polymorphism (snp) genotyping market?
Major companies operating in the single nucleotide polymorphism (SNP) genotyping market include Thermo Fischer Scientific Inc., Danaher Corporation, Roche Diagnostics Corporation, GE HealthCare Technologies Inc., Eurofins Genomics LLC, Beckman Coulter Inc., Bio-Rad Laboratories Inc., Qiagen N.V., Sigma-Aldrich Corporation, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., Promega Corporation, GenScript Biotech Corporation, Integrated DNA Technologies Inc., LGC Ltd., Sequenom Inc., Fluidigm Corporation, Agendia Inc., Nugen Technologies Inc., BioChain Institute Inc., Standard BioTools Inc., Oxford Gene Technology, Affymetrix Inc., PREMIER Biosoft International Inc., GenoLogics, Rubicon Genomics Inc., Xcelris Genomics, Douglas Scientific LLC, Golden Helix Inc.
What emerging trends are influencing the growth of the single nucleotide polymorphism (snp) genotyping market?
Emerging as a significant trend in the single nucleotide polymorphism (SNP) genotyping market is the embrace of technology-driven solutions. To sustain their market dominance, major companies in the SNP genotyping sector are rolling out advanced technological solutions. A notable example from May 2022 is the launch of InfiniSEEK, a first-of-its-kind complete genome and genotyping tool specifically developed for cattle breeders. The launch comes from a collaboration between Neogen Corporation, a food safety firm in the US servicing sectors such as agriculture, animal protein, food, and beverages, and Gencove, a US-based sequencing solutions provider. Validation of InfiniSEEK confirms over 99% agreement between its low-pass genome-wide sequencing and deep whole-genome sequencing, with some areas of interest presenting even higher clinical-grade accuracy.
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Which regions are most influential in expanding the single nucleotide polymorphism (snp) genotyping market?
North America was the largest region in the single nucleotide polymorphism (SNP) genotyping market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the single nucleotide polymorphism (SNP) genotyping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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