North America Genotyping Market to Grow with a CAGR of 6.76% through 2028
Technological Advancements in Genotyping Techniques and
Increase in Funding in Genomics are factors driving the North America Genotyping
market in the forecast
period 2024-2028.
According to TechSci Research report, “North
America Genotyping Market – Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the North
America Genotyping Market stood at USD 4.76 billion in 2022 and is anticipated
to grow with a CAGR of 6.76% in the forecast period, 2024-2028. The North America Genotyping Market is a dynamic and rapidly evolving
sector of the life sciences industry. It involves the analysis of genetic
variations within an individual's DNA, providing critical insights into their
unique genetic profile. Genotyping is utilized across various applications,
including healthcare, research, agriculture, and personalized medicine. Key
drivers of the market include the demand for personalized healthcare solutions,
advancements in genotyping technologies, and the increasing prevalence of
genetic diseases. The market's growth is also fueled by the integration of
genotyping into clinical diagnostics and the expansion of direct-to-consumer
genetic testing services. As genotyping technologies continue to advance, the
market is poised for further expansion and innovation.
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One significant driver for the
Genotyping Market is the increasing demand for personalized medicine.
Personalized medicine, also known as precision medicine, represents a
transformative approach to healthcare that tailors’ medical treatments and
interventions to an individual's unique genetic makeup. Genotyping plays a
pivotal role in this paradigm shift. As healthcare providers and pharmaceutical
companies recognize the value of personalized medicine, the demand for
genotyping services has surged. Here's how genotyping facilitates personalized
medicine: Genotyping helps identify specific genetic variations or mutations
that drive disease or influence drug responses. This information enables
healthcare providers to prescribe targeted therapies that are more effective
and have fewer side effects. Genotyping provides insights into an individual's
genetic predisposition to certain diseases, allowing for early intervention and
personalized preventive measures. Genotyping guides medication selection and dosing
based on a patient's genetic profile, minimizing adverse drug reactions, and
optimizing treatment outcomes. Genotyping can track changes in a patient's
genetic profile during treatment, helping clinicians adjust therapies for
better results. The increasing prevalence of genetic diseases, the advancements
in genotyping technologies, and the growing understanding of the significance
of genetic variations in healthcare are all fuelling the demand for genotyping
services as a vital tool in the era of personalized medicine.
The North America Genotyping Market is segmented product,
technology, application, end use, country, and company. Based on
Technology, the market is segmented into PCR, Sequencing, Capillary
Electrophoresis, Microarray, Mass Spectrometry, and Others. The PCR segment
garnered the highest revenue share in the genotyping market in 2021. It is due
to the Adoption of advanced diagnostic techniques is developing, as is the
number of CROs, forensic and research laboratories, along with the prevalence
of diseases including chronic diseases and genetic disorders. The typical
approach for genetic analysis, polymerase chain reaction, is used in PCR
genotyping. After amplifying DNA or RNA sequences using specified primers and
electrophoresis to check for size and quality, they can be isolated and
purified.
Based on country, The United States is the fastest
growing segment for the genotyping market due to several key factors. First,
the country boasts a robust healthcare infrastructure, advanced research
facilities, and a high level of investment in genomics research. This fosters
innovation and drives demand for genotyping services and products. Second, the
U.S. has a large patient population, making it an attractive market for genetic
testing and personalized medicine. The rising prevalence of chronic diseases,
such as cancer, cardiovascular conditions, and neurological disorders, has led
to increased demand for genotyping to assess genetic predispositions and guide
treatment decisions. Additionally, the U.S. is home to numerous pharmaceutical
and biotechnology companies focused on drug development and precision medicine.
Genotyping plays a crucial role in clinical trials, target identification, and
biomarker discovery, further propelling market growth.
Furthermore, the regulatory environment in the United
States is conducive to genotyping research and clinical applications.
Government initiatives, academic collaborations, and industry partnerships have
contributed to the rapid expansion of genotyping in various sectors, ensuring
its position as the fastest growing segment in the market.
Major companies operating in North America Genotyping Market
are:
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Agilent Technologies, Inc
- Thermo Fisher Scientific, Inc
- Qiagen N.V
- Illumina, Inc
- Bio-Rad laboratories, Inc
- Eurofins Scientific Group
- Fluidigm Corporation
- GE Healthcare Inc
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“The future of the Genotyping Market is poised for
continued growth and innovation. Advancements in genotyping technologies, such
as faster and more cost-effective sequencing methods, will make genetic testing
more accessible to a broader population. The integration of genotyping into
routine healthcare practices and personalized medicine will become increasingly
commonplace, enabling tailored treatment plans and disease prevention
strategies. Additionally, genotyping will play a vital role in genomics
research, drug discovery, and agricultural genomics, driving advancements
across multiple industries. As our understanding of the human genome deepens
and genotyping becomes more integrated into various applications, the market
will continue to expand, offering new opportunities to improve healthcare,
agriculture, and scientific discoveries.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“North America Genotyping Market- By Product
(Reagents & Kits, Instruments, Software & Services), By Technology
(PCR, Sequencing, Capillary Electrophoresis, Microarray, Mass Spectrometry,
Others), By Application (Diagnostics & Personalized Medicine, Agricultural
Biotechnology, Pharmacogenomics, Animal Genetics, Others), By End use
(Diagnostics & Research Laboratories, Pharmaceutical &
Biopharmaceutical Companies, Academic Institutes, Others), By Country, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of North America Genotyping Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Genotyping Market.
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