New York, United States, Nov. 07, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global SNP Genotyping and Analysis Market size to grow from USD 11,553.0 million in 2021 to USD 69,172 million by 2030, at a Compound Annual Growth Rate (CAGR) of 22% during the forecast period. The SNP genotyping and analysis market has grown due to the rising prevalence of fatal diseases such as cancer, diabetes and others. In addition, the growing demand for genetic analysis in animal and plant feedstock increasing the market growth.
Global SNP Genotyping and Analysis Market Size, Share, and COVID-19 Impact Analysis, By Technology (Microarrays and GeneChips, Taqman Allelic Discrimination, SNP Pyrosequencing, Applied Biosciences SNPlex, Sequemon MassArray Maldi-TOF, and Other), By Application (Diagnostic Research, Pharmacogenomics, Agricultural Biotechnology, Breeding and Animal Livestock), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030. “in detail along with the table of contents. https://www.sphericalinsights.com/reports/snp-genotyping-and-analysis-market
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The SNP pyrosequencing segment accounts for the largest market size during the forecast period
Based on the technology, the global SNP genotyping and analysis market is categorized into Microarrays and GeneChips, Taqman Allelic Discrimination, SNP Pyrosequencing, Applied Biosciences SNPlex, Sequenom MassArray Maldi-TOF, and Other. The SNP pyrosequencing segment accounts for the largest market size during the forecast period. Based on the idea of sequencing by synthesis, pyrosequencing is another way to figure out the order of small pieces of DNA. When compared to the Sanger method, Pyrosequencing works better and takes less time. But this method can't always be used in the same ways as the traditional method.
The pharmacogenomics segment to hold a higher CAGR during the forecast period
Based on application, the SNP genotyping and analysis market is categorized into Diagnostic Research, Pharmacogenomics, Agricultural Biotechnology, Breeding and Animal Livestock. The pharmacogenomics segment to hold a higher CAGR during the forecast period. A big part of the pharmacogenomics market can be attributed to the growing industry for personalized medicine. For drug development purposes, SNPs in genetic materials are used a lot. Because of this, it is expected that the need for pharmacogenomics will increase, which will make the growth in the SNP Genotyping market.
Report Scope
| Report Metric | Details |
| Market Size 2030 | USD 69.17 Billion |
| CAGR | 22% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | By Technology, By Application, By Region, COVID-19 Impact Analysis |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | Sequenom, Inc., Douglas Scientific LLC, PREMIER Biosoft, Sequenom Inc., Luminex Corp., |
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Key Insights
- The global SNP genotyping and analysis market was valued at USD 11,553.0 Million in 2021.
- The market is growing at a CAGR of 22% from 2021 to 2030
- The global SNP genotyping and analysis market is expected to reach USD 69,172 Million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
Market Segment
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global SNP genotyping and analysis market based on the below-mentioned segments:
Global SNP Genotyping and Analysis Market, By Technology
- Microarrays and GeneChips
- Taqman Allelic Discrimination
- SNP Pyrosequencing
- Applied Biosciences SNPlex
- Sequemon MassArray Maldi-TOF
- Other
Global SNP Genotyping and Analysis Market, By Application
- Diagnostic Research
- Pharmacogenomics
- Agricultural Biotechnology
- Breeding
- Animal Livestock
North America is estimated to account for the highest market share in 2021.
The Global SNP genotyping and analysis market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. In the context of North America, the United States is expected to grow and change a lot. Because of the steadily rising number of chronic illnesses in the United States, it is likely that there will be more demand for genotyping tools and services.
Regions Covered
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
List of Key Market Players:
- Sequenom, Inc.
- Douglas Scientific LLC
- PREMIER Biosoft
- Sequenom Inc.
- Luminex Corp.
- Life Technologies Corp.
- Fluidigm
- Illumina, Inc.
- Affymetrix, Inc.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
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Market News
- In February 2021, Novacyt put out its SNPsig portfolio of PCR genotyping assays. These tests can be used to help figure out if a new type of the SARS-CoV-2 virus is present.
- In August 2021, Thermo Fisher Scientific made changes to its products that made them better. The business's Applied Biosystems TaqMan SARS-CoV-2 mutation panel, which is used to diagnose the Delta and Lambda strains of the virus, has been updated.
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