Press Release

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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