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What Is the Forecast for the Single Nucleotide Polymorphism (SNP) Genotyping Market from 2024 to 2025?

In recent years, the market size for single nucleotide polymorphism (SNP) genotyping has seen rapid expansion. Increases are projected from $10.3 billion in 2024 to $12.37 billion in 2025 with a compound annual growth rate (CAGR) of 20.1%. The historic growth in this market has been driven by factors such as intensified genomics research, increased occurrence of genetic disorders, the popularity of personalized medicine, the burgeoning pharmaceutical industry, and heightened demand for molecular diagnostics.

What Is the Projected Market Size of the Single Nucleotide Polymorphism (SNP) Genotyping Market?

The market for single nucleotide polymorphism (SNP) genotyping is predicted to experience substantial expansion in the near future, with an expectation to reach $24.95 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 19.2%. The projected growth during this period can be linked to the increasing use in disease research, the heightened demand for precision medicine, and expanded biobanking initiatives. Additionally, it’s spurred by the proliferation of genetic testing and its widespread use in agriculture for crop modification. Notable market trends for the forecast period consist of the growing utilization of next-generation sequencing (NGS), the surge in SNP genotyping demand in pharmacogenomics, the arrival of direct-to-consumer genetic testing, emphasis on automation, and the prevalence of high-throughput genotyping platforms.

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Who are the Major Competitors in the Single Nucleotide Polymorphism (SNP) Genotyping Market Outlook?

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 Is Fueling Growth in the Single Nucleotide Polymorphism (SNP) Genotyping Market?

The growth of the single nucleotide polymorphism (SNP) genotyping market is seen to be driven by the rising prevalence of chronic ailments. These are issues that persist for over a year, requiring ongoing medical attention, limiting everyday tasks, or both. SNP genotyping becomes crucial in detecting genetic susceptibilities and facilitating personalized medication due to the increased incidence of chronic diseases. For instance, data from the Australian Institute of Health and Welfare, a government agency based in Australia, indicated that by June 2024, the mortality rate related to chronic conditions climbed from 459 fatalities per 100,000 individuals in 2021 to 490 in 2022. Hence, the escalating prevalence of chronic disorders is fuelling the expansion of the SNP genotyping systems market.

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Which Single Nucleotide Polymorphism (SNP) Genotyping Market Segments Are Growing the Fastest?

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

Which Industry Trends Are Shaping the Future of the Single Nucleotide Polymorphism (SNP) Genotyping Market?

A prevailing trend in the single nucleotide polymorphism (SNP) genotyping market is the rise of technological strategies. Significant players within this market are unveiling cutting-edge technological interventions to maintain their market standing. For example, in May 2022, the US company Neogen Corporation–a provider of solutions for the agriculture, animal protein, food, and drink sectors–and Gencove, a US-based sequencing solution provider, launched InfiniSEEK. This tool is the first all-encompassing genome and genotyping instrument for cattle breeders. Extensive validation for InfiniSEEK reveals that low-pass genome-wide sequencing bears an over 99% concordance with deep whole-genome sequencing and may deliver superior clinical-grade accuracy in certain focus areas.

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Which Countries Are Leading 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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This Report Delivers Insight On:

1. How big is the single nucleotide polymorphism (snp) genotyping market, and how is it changing globally?

2. Who are the major companies in the single nucleotide polymorphism (snp) genotyping market, and how are they performing?

3. What are the key opportunities and risks in the single nucleotide polymorphism (snp) genotyping market right now?

4. Which products or customer segments are growing the most in the single nucleotide polymorphism (snp) genotyping market?

5. What factors are helping or slowing down the growth of the single nucleotide polymorphism (snp) genotyping market?

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