Genotyping Assay Market Worth $31.9 Bn by 2023 – Exclusive Report by MarketsandMarkets™

Genotyping Assay Market is expected to reach USD 31.9 billion by 2023 from an estimated USD 11.8 billion in 2018, at a CAGR of 22.0%. Genotyping assay technology is commonly used in determining DNA sequences or identifying variations in individual’s genetic composition and comparing it with other individuals’ sequences or reference sequences

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The major factors driving the growth of this market include technological advancements, the decreasing prices of DNA sequencing, and the increasing incidence of genetic diseases.

By product, the reagents & kits segment is expected to account for the largest share of the Genotyping Assay Market

Based on product, the market is divided into reagents & kits, genotyping services, instruments, and bioinformatics. The easy accessibility to a wide range of reagents and need for genotyping in various applications (such as assessing drug efficacy & safety, cutting down cost and time required for clinical development, personalizing the treatments for chronic diseases, and developing good breeds of animals and plants) have contributed to the high and repetitive consumption of reagents and kits as consumables in various genotyping applications.

Sequencing segment will witness the highest growth in the market, by technology

Based on technology, the Genotyping Assay Market is segmented into PCR, microarrays, sequencing, capillary electrophoresis, MALDI-TOF, and other technologies. The sequencing segment is expected to account for the largest share of the global genotyping market during the forecast period of 2018 to 2023.

North America, the largest regional market for genotyping

North America is expected to account for the largest share of the Genotyping Assay Market in 2018, followed by Europe and the Asia Pacific. 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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The prominent players in the Genotyping Assay Market are Thermo Fisher Scientific (US), Illumina (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).

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