The global genotyping market is expected to reach USD 37.1 billion by 2024 according to a new report by Grand View Research, Inc. The increasing demand for genotyping tests to evaluate drug efficacy and safety is one of the major drivers for the genotyping market. Genotyping tests are widely used in selecting a highly responsive, patient population subset against a specific drug candidate before initiating clinical trials. The rising need for affordable genotyping services coupled with the high demand for personalized medicines is also expected to propel the market growth.
Major pharmaceutical companies are collaborating with diagnostic manufacturers for the development of novel biomarker-based therapeutics. Significant opportunities for the growth of this market are anticipated due to the above-mentioned collaborative initiatives.
The increasing awareness for prenatal genetic testing pertaining to early detection of chromosomal abnormalities in the high-risk population, the introduction of technological advancements, and the increasing R&D funding are the other factors accentuating the market growth over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/genotyping-market
Further key findings from the study suggest:
·
The reagents and kits segment dominated the
product segment in 2015. Extensive usage of reagents for research activities
and the wide applicability of the genotyping tests in disease diagnosis and
validation are the factors responsible for its large share
·
The reagent and kits segment is also anticipated
to witness the highest growth over the forecast period. The major factors
responsible for the lucrative growth of this segment are a high amount of
R&D activities undertaken by research and academic institutes for the
development of novel genetic biomarkers.
·
In 2015, the polymerase chain reaction
technology captured a significant market share owing to the higher acceptance
levels by researchers and the introduction of technologically advanced and
user-friendly products
·
The diagnostic center was one of the largest
segments with a market share of over39.0% in 2015. The rising demand for
genotyping tests coupled with the high awareness for genetic disorders is a key
driver for its large market share. Personalized medicine is expected to grow at
a significant growth rate over the forecast period due to the increasing demand
for the efficient and fast-acting therapeutics under the precision medicine
category.
·
North America held the largest share of
thegenotyping market in 2015.The rising healthcare expenditure, established
R&D infrastructure, and the increasing awareness among doctors for
hereditary genetic disorders are the factors contributing to the large share.
·
Asia Pacific is anticipated to be the fastest
growing regional segment during the forecast period. The introduction of
favorable government initiatives and programs, the geographical expansion of
major players in this area, and the growing target population base are some of
the factors expected to push forward the market growth.
·
The key players include Affymetrix, Inc.,
Agilent Technologies, Inc., Genewiz, Inc., Fluidigm Corporation, GE Healthcare
GmbH, Illumina, Inc., Thermo Fisher Scientific, Inc., Qiagen NV, and Roche
Diagnostics
·
In April 2016, Siemens Healthcare GmbH and
Thermo Fisher Scientific, Inc. declared a strategic collaboration for the
development of an advanced and integrated genotyping platform. This agreement
aimed to introduce enhanced flexibility and customizability to their molecular
testing solutions.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/biotechnology
Genotyping Market Product Outlook, by Revenue (USD Million, 2013 - 2024)
·
Instruments
·
Reagents and kits
·
Services
Genotyping Market Technology Outlook, by Revenue (USD Million, 2013
- 2024)
·
Polymerase Chain Reaction(PCR)
·
Capillary Electrophoresis
·
Mass Spectrometry
·
Sequencing
·
Microarray
·
Other
Genotyping Market Application Outlook, by Revenue (USD Million, 2013
- 2024)
·
Diagnostics
·
Drug Discovery and Development
·
Personalized Medicine
·
Academic Research
·
Agriculture
·
Others
Genotyping Market Regional Outlook, by Revenue (USD Million, 2013 -
2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-genotyping-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
No comments:
Post a Comment