Market Industry Reports (MIR) has published a new report titled “Genotyping Assay Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” The global genotyping assay market was valued at over US$ 7 Bn. in 2017 and is anticipated to grow at a CAGR of 21.8% from 2019 to 2030. The growth of this market can be attributed to the factors such as, the reducing prices of DNA sequencing, technological advancements, growing awareness on customized medicine, and rising importance of the method in drug development.
Increasing number of genetic disorders to propel the market growth
The global genotyping assay market is propelled by a number of factors. One among them is the increase in the number of genetic diseases all around the world. Following that is the general awareness regarding personalized medicine all around the world especially in the developed regions of the world. According to the Parkinson’s Foundation, more than 60 thousand people are diagnosed with the major genetic disorder, Parkinson’s disease in the U.S. every year. Moreover, the number is expected to reach 1 million by 2020.
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Key players in the global genotyping assay market are Thermo Fisher Scientific, Illumina, QIAGEN, Agilent Technologies, Danaher Corporation, Roche Diagnostics, GE Healthcare, Fluidigm Corporation, PerkinElmer, Eurofins Scientific, Bio-Rad Laboratories, Pacific Biosciences of California, GENEWIZ, and Integrated DNA Technologies.
Technological advancement in PCR to boost the market growth
Polymerase Chain Reaction or PCR is the key technology used by the professionals and researchers for rapid and accurate detection of genetic changes. The introduction of newer technologies in combination with computer programs and database, such as inverse PCR, reverse transcription PCR, assembly PCR and Quantitative PCR (Q-PCR) is expected to fuel the growth of the market. Developments in the sequencing technologies have transformed the sequencing methods into a multifaceted, adaptable molecular tool. Moreover, introduction of automated models in sequencing and high-throughput platforms offer potential growth opportunities in clinical molecular modeling studies, new, gene profiling, chemical entity interactions and genome sequencing.
Stringent regulatory policies to affect the small market players
According to the new guidelines by FDA for gene sequencing the testing guidelines and standard are regulated by the three agencies consists of Centers for Medicare and Medicaid Services (CMS), the Federal Trade Commission and the FDA. Furthermore, the stringent regulations harm clinical innovation and also, disproportionally harm small labs and companies that must participate with big companies to submit tests for the FDA approval.
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Increasing R&D activities by the major players
Companies are taking R&D initiatives for the developments of innovative products to cater to the growing demands of the population. For instance, Fluidigm Corporation introduced Juno 96.96 Genotyping IFC, a product that analyzes huge number of DNA samples for the Single Nucleotide Polymorphisms (SNPs) in a very short time span.Moreover, genomics service is also provided by RTSF Genomics Core at Michigan State University, that offers genotyping service and technologies.
Table of Contents
- Market Definition
- Market Ecosystem
- Market Classification
- Geographic Scope
- Years Considered for the Study
- Historical Years – 2016 & 2017
- Base Year – 2018
- Forecasted Years – 2019 to 2030
- Currency Used for the Study
- Report Beneficiary List
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottoms Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations of the Study
- Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- UNIQUE SELLING PROPOSITIONS (USPs)
- Technological Advancement
- Application Horizon Assessment
- Initiatives Assessment: Government & Private Bodies
- GLOBAL GENOTYPING ASSAY MARKET – ANALYSIS & FORECAST, BY PRODUCT & SERVICES
- Introduction & Definition
- Reagents & Kits
- Genotyping Assay Services
- GLOBAL GENOTYPING ASSAY MARKET – ANALYSIS & FORECAST, BY TECHNIQUE
- Other Techniques
- GLOBAL GENOTYPING ASSAY MARKET – ANALYSIS & FORECAST, BY END USER
- Diagnostic & Research laboratories
- Pharmaceutical & Biotechnology Companies
- Other End User
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