Genotyping Market is expected to reach US$ 154.35 Billion by 2031

Reagents and Kits Segment to Bolster Genotyping Market Size During 2023–2031

According to our new research study on "Genotyping Market Forecast to 2031 – Global Analysis – by Product Type, Technology, Application, and End User," the market is expected to grow from US$ 30.44 billion in 2023 to US$ 154.35 billion by 2031; it is anticipated to record a CAGR of 22.5% from 2023 to 2031. The genotyping market report emphasizes the trends prevalent in the global market, along with drivers and deterrents affecting its growth.

Use in the diagnosis of genetic and rare diseases, and technological advancements and rising R&D investments in the biotechnology and pharmaceutical industries are among the factors contributing to genotyping market growth. However, the high cost of equipment and shortage of skilled professionals hamper the market growth. Further, the increasing popularity of personalized medicine is expected to bring new genotyping market trends in the coming years.

Genotyping Market Share, by Region, 2023 (%)

Source: The Insight Partners Analysis

Technological Advancements and Rising R&D Investments in Biotechnology and Pharmaceutical Industries Propel Genotyping Market Growth

Genotyping market players are focusing on increasing their investments in projects aimed at advancements in biotechnology to come up with better alternatives to conventional techniques.

• In January 2024, Thermo Fisher Scientific launched Axiom PangenomiX Array, offering optimal genetic coverage for pharmacogenomic research and population-scale disease studies. This array is currently the only research solution that can run four assays in one test: SNP genotyping, complete genome copies number variant detection, fixed copy number discovery, and blood and HLA typing.
• In September 2023, Bio-Rad launched new PTC Tempo 48/48 and PTC Tempo 384 thermal cyclers for sequencing, cloning, and genotyping. The PTC Tempo thermal cyclers are built with an intuitive user interface and flexible connectivity features to streamline protocol management, along with monitoring capabilities on the cloud platform.
• In January 2023, Qiagen acquired Verogen, a company that uses next-generation sequencing (NGS) techniques to drive the future of forensic investigation and human identification (HID). QIAGEN and Verogen together are expected to create opportunities to help researchers advance forensic science, thereby aiding in accurate suspect identification, finding missing persons, and exonerating innocent individuals.
• In June 2022, NRGene launched Soy SNPro, a product covered under predesigned SNP sets for genotyping (DNA tests) of various crops. SNPro is an off-the-shelf complete genotyping solution that combines low-density genotyping with high-density imputation.
• In May 2022, NEOGEN Corporation and Gencove announced the launch of InfiniSEEK, an innovative and cost-effective solution for addressing difficulties involved in whole-genome sequencing and targeted SNP analyses.

Such technological breakthroughs have the potential to enable miniaturization, automation, and cost reduction. They can also aid in operational flexibility and multiparameter testing. All these benefits add to the uses and convenience of DNA sequencing, allowing clinicians to concentrate on higher-level decisions such as selecting and prioritizing therapeutic targets through various genotyping studies. Further, technological advancements in DNA sequencing, such as NGS, have enabled speedy, accurate sequencing, allowing for great productivity. Thus, the growing research and development activities, along with increasing government funding for genome-based projects, contribute to the genotyping market progress.

The genotyping market analysis has been carried out by considering the following segments: product type, technology, application, end user, and geography. Based on product type, the genotyping market is segmented into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held the largest market share in 2023. A wide range of genotyping kits offered by several major companies are available in the market for the detection of infectious and genetic diseases. These products are necessary to perform as per predefined protocol to detect genetic variations in humans, animals, plants, and individual genes. For instance, Sanger offers sequencing kits and reagents to conduct PCR amplification, cycle sequencing, and reaction cleanup. Target selection, library construction, and template preparation can all be completed with NGS kits and reagents. Kits are also available for the amplification of fragment-length polymorphism (AFLP), single nucleotide polymorphism (SNP) genotyping, high-resolution melt analysis (HRM), animal DNA extraction, and qPCR genotyping. These reagents and kits contain a stain enhancement solution and unique antibodies with fluorescent staining markers. The MagMAX cell-free total nucleic acid isolation kit, based on magnetic bead technology, is used to isolate and purify cRNA and cfDNA from serum, plasma, or urine samples. With the high demand for reagents and kits, the market players are also taking initiatives to launch and expand their products, which facilitate the detection of DNA/RNA with high accuracy and precision.

Based on technology, the genotyping market is divided into microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption/ionization-time of flight (Maldi-ToF) mass spectrometry, polymerase chain reaction (PCR), and others. The PCR segment held the largest market share in 2023.

By application, the market is segmented into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and others. The diagnostics and personalized medicine segment held the largest share of the market in 2023. The increasing prevalence of infectious, as well as rare diseases, is boosting the demand for state-of-the-art diagnostic systems. Technological advancements enable healthcare systems from different countries to effectively conduct screening and diagnosis programs to manage these diseases. R&D activities and significant investments lead to a significant focus on reagents and kit formulation development for genotyping technologies, which contributes substantially to the launch of rapid and reliable diagnostics solutions. Genetic testing can now be used to diagnose diseases reliably, and to date, there are ~900 genetic tests available for diagnosis. Relevant genomic technology is used to diagnose infectious diseases by sequencing the microorganisms that can cause infections in humans. The symptoms can be traced, and the information can be utilized to discover antibiotics or drugs. Genomics has also enabled the identification and diagnosis of genetic factors that contribute to diseases such as high blood pressure, diabetes, and cancer. Genomic technologies can be employed to identify new genes causing genetic diseases. Further, personalized medicine is an emerging approach to disease treatment and prevention, which considers individual variability in genes, environment, and lifestyle for each person. A genome can be sequenced and digitized in minutes through a cost-friendly process. The results are shared through USB and via the internet. Also, many complex health challenges, from heart disease to cancer, have an associated genetic causal factor. Digitization of sequences can help doctors make treatment decisions for cancer patients without any delay, based on a tumor's genetic makeup. Precision medicine has the potential to aid in the development of highly targeted therapies with the possibility of improved treatment outcomes, especially for cancer patients. The US government is adopting precision medicine with the help of programs such as the National Cancer Moonshot and Precision Medicine Initiative. Many NGS-based studies published in the last few years have identified potential prognostic and predictive molecular signatures. Johns Hopkins University in the US prioritizes the development of personalized blood tests for cancer diagnosis using whole-genome sequencing.

Based on end user, the genotyping market is divided into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. The pharmaceutical and biopharmaceutical segment held the largest genotyping market share in 2023.

The geographic scope of the genotyping market report includes the assessment of the market performance in North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa)

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