COVID-19 Impact ON Genotyping Assay market | Country Level Analysis, Current Trade Size And Future Prospective
What the Genotyping Assay Market Looks Like?
MarketsandMarkets forecasts the Genotyping Assay market to grow from USD 11.8 billion in 2018 to USD 31.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period. North America is the largest regional market for glycomics
On the basis of application, the genotyping market is segmented into pharmacogenomics, diagnostics & personalized medicine, agricultural biotechnology, animal genetics, and other applications. The pharmacogenomics segment is expected to account for the largest share of the genotyping market during the forecast period. The large share of this segment can be attributed to the increasing use of genotyping to predict the efficiency of drugs during drug development and the growing need to understand the adverse effects of drugs.
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What Drives the Genotyping Assay Market?
The growth of the global market Genotyping Assay Market is primarily influenced by the following factors:
- Technological Advancements and Decreasing Prices of DNA Sequencing
- Increasing Incidence of Genetic Diseases and Rising Awareness on Personalized Medicine
- Growing Importance of Genotyping in Drug Development
- Increasing Demand for Bioinformatics Solutions in Data Analysis
The sequencing segment is expected to witness a faster growth rate in this market due to factors such as, the increasing application areas of DNA sequencing technologies, technological advancements, the availability of high-speed sequencing instruments, and the growing uptake of the hybrid approach of sequencing.
- In May 2018, Agilent technologies opened a new logistics center in Texas to increase its capacity for house inventory and to fulfill the growing demand for NGS products from its genomics group.
- In March 2018, Danaher Corporation acquired Integrated DNA Technologies Inc. (US). This acquisition strengthened Danaher’s Life Sciences platform. IDT will operate as a standalone operating company and brand within Danaher Corporation.
- In January 2018, Thermo Fisher Scientific signed a partnership with Illumina (US) that enabled Illumina to sell the Ion AmpliSeq technology to researchers who conduct scientific studies using Illumina’s next-generation sequencing (NGS) platforms.
- In January 2018, Illumina launched the iSeq 100 Sequencing System.
- In January 2018, Thermo Fisher Scientific launched the Ion GeneStudio S5 Series Instrument.
North America is expected to hold the largest market size in the global genotyping market during the forecast period, followed by the European region. The increasing adoption of technologically advanced genotyping products, the high healthcare expenditure, presence of advanced healthcare infrastructure, highly developed healthcare systems in the US and Canada, large number of genotyping-based R&D projects, and the presence of a large number of leading genotyping manufacturers in the region, along with an increasing demand from pharmaceutical companies for genotyping products and rising investments by government bodies, are responsible for the large share of the North American genotyping market.
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Leading market players and strategies adopted
- Illumina (US), Thermo Fisher Scientific (US), QIAGEN (Netherlands), Agilent Technologies (US), Danaher Corporation (US), Roche Diagnostics (Switzerland), GE Healthcare (US), Fluidigm Corporation (US), PerkinElmer (US), Eurofins Scientific (Luxembourg), Bio-Rad Laboratories (US), Pacific Biosciences of California (US), GENEWIZ (US), and Integrated DNA Technologies (US).
- Illumina is the leading player in the genotyping market. The company led the sequencing market with its flagship NGS platforms—iSeq 100 system (launched in January 2018), NovaSeq 6000, HiSeq Series, MiSeq Series, NextSeq 500, and HiSeq X Ten & HiSeq X Five. Illumina also provides reagents such as TruSeq sample preparation kits, TruSeq SBS sequencing kits, and other sequencing reagents, along with sequencing services such as whole-genome sequencing, human whole-exome sequencing, de novo sequencing, custom-targeted resequencing, gene expression using random-primed RNA sampling, and other related services.
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the genotyping market?
- Which segment provides the most opportunity for growth?
- Who are the leading players operating in this market?
- What are the opportunities for new market entrants?