According to Stratistics MRC, the Global Genotyping market is estimated at $8.64 billion in 2016 and is expected to reach $31.19 billion by 2023 growing at a CAGR of 20.1% from 2016 to 2023. Growing awareness regarding personalized medicine and genetic diseases among the people, increase in target diseases occurrence and technological improvements in genotyping are the key factors driving the market growth. On the other hand, poor reimbursement policies are hampering the market growth. Demand for low cost genotyping service and huge flow of investments are the opportunities for the market to grow.
Genotyping is the procedure of deciding differences in the genetic make-up (genotype) of an individual by analyzing the individual's DNA sequence utilizing biological assays and comparing it to a reference sequence. It brings out the alleles an individual has inherited from their parents. The reagents and kits lead the market with the highest market share due to their wide usage and growing demand for genotyping tests. Personalized medicine holds the largest share and the growth can be attributed to increasing support of government for personalized medicine. North America is projected to be the leading markets in terms of market size, the growth is attributed to R&D investments and technological advancements. Asia Pacific is expected to witness high growth rate during the forecast period.
Some of the key players in the global genotyping market are GE Healthcare, Illumina, Inc, Agilent Technologies, Life Technologies Corporation (Thermofisher Scientific), Beckman Coulter, Roche, Qiagen NV, Affymetrix, Inc, Fluidigm Corp, Sequenom Inc, Douglas Scientific LLC, Premium Biosoft and Genewiz, Inc.
Regions Covered: • North America US Canada Mexico • Europe Germany UK Italy France Spain Rest of Europe • Asia Pacific Japan China India Australia New Zealand South Korea Rest of Asia Pacific • South America Argentina Brazil Chile Rest of South America • Middle East & Africa Saudi Arabia UAE Qatar South Africa Rest of Middle East & Africa
What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements