Home > Healthcare > Biotechnology > Bioservices > Genotyping Market

Genotyping Market Trends

Report ID: GMI7567
Published Date: Dec 2023
Report Format: PDF

Download Free Sample

Genotyping Market Trends

The rising incidence of genetic disorders has emerged as a significant driver for the growth of the market. Genetic disorders, ranging from rare diseases to more common conditions, often have a hereditary component that can be traced through genetic variations.
As advancements in genomics and molecular biology along with rising funding has continued to unfold, there is an increasing awareness regarding the role of genetic factors in the manifestation of various health conditions. This has fueled the demand for genotyping technologies that enable the identification and analysis of genetic variations.
For instance, Genomics Health Futures Mission launched by Australian government, is investing USD 500.1 million in genomic medicine research. Thus, rising investments and funding in genomic research has paved the way for innovative technologies and methodologies in genotyping, thereby supplementing the market growth. However, stringent regulatory requirements may pose a threat to the market expansion.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Genotyping industry size reached USD 18.2 billion in 2022 and is set to exhibit 15.9% CAGR from 2023 to 2032 driven by the advent of high-throughput genotyping platforms to offer enhanced speed and accuracy of genetic testing.

Genotyping industry from the reagents & kits segment generated USD 8.3 billion in revenue in 2022 and is estimated to record substantial growth through 2032 due to surging demand to facilitate accurate and high-throughput genotyping processes.

North America held 41.4% revenue share of the genotyping market in 2022 and is estimated to expand at a notable CAGR attributed to the technological advancements, increasing R&D activities, and the growing demand for personalized medicine.

Some of the major genotyping firms are Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN N.V, F. Hoffmann-La Roche Ltd., Danaher Corporation, Agilent Technologies, Inc., GE Healthcare Technologies Inc., and Bio-Rad Laboratories Inc., among others.