New York, June 30, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Genotyping Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Service (Instruments, Reagents and Kits, Bioinformatics, and Genotyping Services), Technology (Microarrays, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction (PCR), Matrix-Assisted Laser Desorption/Ionization-Time of Flight (Maldi-Tof) Mass Spectrometry, and Others), Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Animal Genetics, Agricultural Biotechnology, and Others), End-User (Pharmaceutical and Biopharmaceutical Companies, Diagnostic and Research Laboratories, Academic Institutes, and Other), and Geography”, in 2021, the reagents and kits segment accounted for the largest share of the market owing to the wide range of genotyping kits is available from several major companies and these products make it easy to observe genetic variation in people, animals, organisms, and individual genes.
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Genotyping Market Report Scope & Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 25.19 Billion in 2022 |
| Market Size Value by | US$ 79.40 Billion by 2028 |
| Growth rate | CAGR of 20.1% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 240 |
| No. Tables | 112 |
| No. of Charts & Figures | 88 |
| Historical data available | Yes |
| Segments covered | Product and Service, Technology, Application, End-User and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Genotyping Market Analysis: Competitive Landscape and Key Developments
F. Hoffmann-La Roche Ltd., Integrated DNA Technologies, Inc. (Danaher), Qiagen, Merck KGaA, Eurofins Genomics, Thermo Fisher Scientific Inc., BioTek Instruments, Inc., Xcelris Genomics, Trimgen Corporation, and Illumina, Inc. are among the key companies operating in the genotyping market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.
In May 2022, Qiagen launched QIAstat-Dx Rise syndromic testing platform that provides automated, comprehensive pathogen testing for higher-demand medical institutions. QIAstat-Dx Rise and its test cartridges are a closed system for hands-off sample preparation and processing. With a random-access capacity of up to 18 different tests, it can provide diagnostic results for up to 56 tests in an eight-hour shift and 160 tests per day by using eight analytical modules. Building on the existing QIAstat-Dx Analyzer with up to four analytical modules, QIAstat-Dx Rise is a flexible new option for increased testing capacity.
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In Dec 2021, QIAGEN announced that its blood-based test would help identify patients with Diffuse Large B-Cell Lymphoma (DLBCL) likely to respond to Denovo’s new investigational cancer treatment DB102TM. The partners seek FDA premarket approval (PMA) of the companion diagnostic test in tandem with the new drug application (NDA) approval. A new master collaboration agreement adds to QIAGEN’s oncology testing portfolio, strengthening its leading position in precision medicine.
In Nov 2021, Illumina, Inc. and Sequoia Capital China, a leading investment firm, jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. Located in Zhangjiang Cell Industrial Park, Shanghai, the incubator will serve as a company creation engine focused on supporting life sciences startup companies poised to deliver breakthrough applications in genomics and multiomics.
In Nov 2021, Roche launched the Cobas 5800 System, a compact new addition to the Roche Molecular portfolio, providing efficiency, simplicity, and timely results to laboratories of all sizes so clinicians can quickly determine the best treatment strategies for their patients.
In Oct 2021, Merck, a leading science and technology company, announced opening its second Carlsbad, California-based facility, significantly expanding its global CDMO footprint. This new €100 million, 140,000square-foot facility will more than double the company’s existing capacity to support large-scale commercial and industrial manufacturing for viral gene therapy in a market expected to grow to $10 billion by 2026.
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North America dominated the genotyping market in 2021. The US holds the largest share of the genotyping market in this region due to growing healthcare and research expenditure, increasing pharmaceutical and biopharmaceutical companies, and growing government support to enhance the research and academic institutes. According to US Centers for Medicare & Medicaid Services, the national healthcare expenditure in the US increased by 9.7% in 2019 to reach US$ 4.1 trillion in 2020. National health spending is expected to grow at a 5.4% annual rate from 2019 to 2028, and it is expected to reach US$6.2 trillion by 2028. The US government initiated various research programs to boost the genotyping market, including the ‘All of Us Research Program’ led by NIH, which provided US$ 28.6 million in funding to develop three genome centers across the US. This research program will accelerate the precision medicine discoveries through genotyping services in different institutions in the US. Further, rapid healthcare expenditure growth results in new diagnostic tools for evaluating various genetic diseases and cancer studies for potential medical treatments. Likewise, the pharmaceutical & biopharmaceutical industry's growth significantly contributes to the US genotyping market growth. The supportive environment in the US accelerates the growth of the development and commercialization of pharmaceutical and biopharmaceutical products. The market players in the country received various patents for their innovations. Thus, the growing genotyping services and product launches for various genetic diseases and cancer studies in the pharmaceutical & biopharmaceutical industries will boost the genotyping market growth and opportunities.
Use of Genotyping in Drug Development for Genetic and Rare Diseases Influence Overall Market Size and Growth during the Forecast Period:
Over the last decade, next-generation sequencing (NGS) technology has enabled simultaneous testing of multiple disease genes, from targeted gene panels to exome sequencing (ES) and genomic sequencing (GS). GS is quickly becoming a practical first-stage test as costs decrease and performance improves. More and more studies show that GS can detect an unprecedented range of pathogenic abnormalities in a single laboratory. GS has the potential to provide patients with unbiased, rapid, and accurate molecular diagnostics that transcend diverse clinical indications and complex conditions. Therefore, the use in drug development for genetic and rare diseases across the globe will act as one of the key factors driving the growth of the genotyping markets.
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Genotyping Market: Segmental Overview
Based on the product and services, the genotyping market is segmented into instruments, reagents and kits, bioinformatics, and genotyping services. In 2022, the reagent and kits segment is expected to account for the largest share of the market. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period due to the high demand by the consumers and the rising initiatives of market players in the launch and product expansion. Based on technology, the genotyping market is segmented into microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption/ionization-time of flight (maldi-tof), mass spectrometry, polymerase chain reaction (PCR), and others. In 2022, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the market. Further, the sequencing segment is expected to witness growth in demand at the fastest CAGR from 2022 to 2028, owing to its higher specificity and capacity to detect the low expression and differentially expressed genes. Based on application, the genotyping market is segmented into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and others. In 2022, the diagnostics and personalized medicine segment is likely to hold the largest share of the market. Moreover, the pharmacogenomics segment is also expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to more comprehensive, time- and cost-effective methods available and similar launches across the globe. Based on end-user, the genotyping market is segmented into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. In 2022, the diagnostic and research laboratories segment is likely to hold the largest share of the market. Moreover, the pharmaceutical and biopharmaceutical companies’ segment is expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to the rise in the number of products by Pharmaceutical and Biopharmaceutical Companies across the globe.
Genotyping Market: COVID-19 Analysis
There has been a rising demand for genotyping services amid the COVID-19 pandemic, stimulating market growth. The market is highly equipped with a highly technological and advanced research industry, due to which the genotyping market witnessed a positive impact due to increased demand for COVID-19 genotyping kits during the pandemic. Polymerase Chain Reaction (RT-PCR) was utilized at a large scale by various diagnostics centers and research laboratories to identify the virus, further escalating the market growth.
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Moreover, there has been an increase in the use of synthetic gene-based technologies for studying SAR-CoV-2 virulence and facilitating vaccine development. The rising incorporation of genetic methodologies and technology into many areas of the worldwide response to the COVID-19 pandemic is yet another crucial and visible evidence of genomics' essential role in modern science and medicine. For instance, in March 2020, BioNTech collaborated with Pfizer, a New York-based pharmaceutical corporation, to perform clinical studies that advanced rapidly, with the first human testing to emergency approval in less than 8 months. Furthermore, this innovative production of vaccines through various gene-based technologies along with COVID-19 testing using RT-PCR fueled the genotyping market during the COVID-19 pandemic.
Browse Adjoining Reports:
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Microbial Identification Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Consumables and Instruments), Technique (Proteomics-Based Methods, Genotypic Methods and Phenotypic Methods), Application (Diagnostic Applications, Pharmaceutical Applications, Environmental Applications, Cosmetics & Personal Care Products Testing and Others), End User (Hospitals, Diagnostic Laboratories, Academic Research Institutes, Blood Banks, Pharmaceutical & Biotechnology Companies and Others), and Geography
DNA Microarray Chips Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (cDNA Microarrays, Oligo DNA Microarrays, BAC Microarrays, SNP Microarrays); Application (Gene Expression, Cancer Diagnosis and Treatment, Genotyping, Genomics, Drug Discovery, Others); End-User (Academic and Government Research Institutes, Hospitals and Diagnostics Centers, Biotechnology and Pharmaceutical Companies, Others)
Microarray Analysis Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments, Consumables, Software and Services); Type (DNA Microarrays, Protein Microarrays, Others); Application (Research Applications, Drug Discovery, Disease Diagnostics, Others); End User (Research and Academic Institutes, Pharmaceutical and Biotechnology Companies, Diagnostic Laboratories, Other End Users)
DNA Sequencing Electrophoresis System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Consumable, Instrument); Application (Research, Diagnostics, Quality Control and Process Validation); End-User (Academic and Government Research Institutes, Hospitals and Diagnostics Centers, Biotechnology and Pharmaceutical Companies)
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