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What Is The Expected Total Market Size Of The Single Nucleotide Polymorphism (SNP) Genotyping Industry By The Forecast Year 2029?
The single nucleotide polymorphism (snp) genotyping market size has seen substantial growth in recent years. It is forecast to increase from $10.3 billion in 2024 to $12.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 19.8%. The expansion witnessed in the past can be attributed to factors such as increased research in genomics, a rise in genetic disorders, the development of personalized medicine, a burgeoning pharmaceutical industry, and a growing need for molecular diagnostics.
The single nucleotide polymorphism (snp) genotyping market is projected to experience substantial expansion over the coming years. By 2029, this market is anticipated to reach a valuation of $24.89 billion, demonstrating a compound annual growth rate (CAGR) of 19.2%. This forecasted growth is primarily driven by an increasing number of applications in disease research, heightened demand for precision medicine, the expansion of biobanking initiatives, a significant increase in genetic testing, and greater utilization in agriculture for enhancing crop quality. Key trends projected for this period encompass the growing adoption of next-generation sequencing (NGS), increasing interest in SNP genotyping within pharmacogenomics, the rise of direct-to-consumer genetic testing, an emphasis on automation, and the development of high-throughput genotyping platforms.
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Which Drivers Are Supporting Growth Of The Single Nucleotide Polymorphism (SNP) Genotyping Market?
The future expansion of the single nucleotide polymorphism (SNP) genotyping market is anticipated to be driven by the rising prevalence of chronic conditions. These are health issues persisting for at least a year, requiring ongoing medical attention, limiting daily functions, or a combination thereof. With the surge in chronic diseases, single-nucleotide polymorphism (SNP) genotyping plays a crucial role in uncovering genetic susceptibilities and advancing personalized medical treatments. A notable example is data from June 2024 by the Australian Institute of Health and Welfare, an Australia-based government agency, which reported an increase in the chronic condition-related death rate, moving from 459 deaths per 100,000 people in 2021 to 490 deaths per 100,000 people in 2022. Consequently, the growing impact of chronic conditions serves as a key driver for the expansion of the single nucleotide polymorphism (SNP) genotyping systems market.
How Is The Single Nucleotide Polymorphism (SNP) Genotyping Market Segmented?
The single nucleotide polymorphism (snp) genotypingmarket 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
Which Market Trends Are Creating New Opportunities In The Single Nucleotide Polymorphism (SNP) Genotyping Industry?
Technological solutions are becoming a significant trend within the single nucleotide polymorphism (SNP) genotyping market. Leading companies operating in the single nucleotide polymorphism (SNP) genotyping market are rolling out technologically advanced solutions to maintain their competitive position. For instance, in May 2022, InfiniSEEK was launched by Neogen Corporation, a US-based food safety company providing solutions for the agriculture, animal protein, food, and beverage industries, and Gencove, a US-based provider of sequencing solutions. This product serves as the first complete genome and genotyping tool available for cattle breeders. Thorough validation of InfiniSEEK reveals that low-pass genome-wide sequencing shows more than 99% concordance with deep whole-genome sequencing and can achieve even higher clinical-grade accuracy in specific areas of interest.
Which Major Firms Are Strengthening Their Position In The Single Nucleotide Polymorphism (SNP) Genotyping Industry?
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.
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How Is Single Nucleotide Polymorphism (SNP) Genotyping Market Demand Varying Across Different Regions?
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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