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(Medical-NewsWire.com, August 21, 2018 ) The global genotyping market is expected to reach $17.0 Billion in 2020 from $6.2 Billion in 2015, at a CAGR of 22.3% during the forecast period of 2015 to 2020. Market growth will be attributed to the availability of a range of products for wide applications, decreasing prices of DNA sequencing, increasing incidence of and awareness on genetic diseases and personalized medicine, increasing demand for pharmacogenomics in drug discovery and development, and the rising use of genetic analysis of animal and plant livestock.
The genotyping market studied in this report is mainly segmented by product, technology, applications, and end user. The market, by product & services, is segmented into instruments (sequencers & amplifiers, and analyzers), reagents and kits, bioinformatics software and services. Reagents & kits market is expected to grow at a CAGR of during the forecast period of 2015 to 2020. Based on application, the market is segmented into pharmacogenomics, diagnostic research, animal genetics, agricultural biotechnology, and others (prenatal testing, parental testing, forensics, and microbial genotyping). The pharmacogenomics segment is expected to grow at a highest CAGR of 23.4% during the forecast period.
The market, by technology, is segmented into microarray, capillary electrophoresis, polymerase chain reaction (PCR), sequencing, MALDI-TOF, and others (allele specific oligonucleotide (ASO) probes, & in situ hybridization). Sequencing is the high growth market, owing to its widening application areas of DNA sequencing technologies, technological advancements, and the availability of high-speed sequencing instruments are expected to contribute to the growth of the DNA sequencing market in the coming years.
Developed geographies like North America and Europe are saturated markets and expected to grow at a slower rate, whereas the Asian market is expected to witness the highest growth of CAGR, 25.4% from 2015 to 2020, due to the huge demand for better healthcare services, expanding per capita income, increasing ongoing clinical trials in these regions, and the increasing focus of leading players on these regions.
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The key players operating in genotyping market are Affymetrix, Inc. (U.S.), Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies (U.S.), Beckman Coulter (U.S.), Sequenom, Inc. (U.S.), Roche (Switzerland), GE Healthcare (U.K.), and Fluidigm Corporation (U.S.).
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