PCR Segment, by Technology to Account Largest Share in Genotyping Market during 2023-2031
According to our new research study on "Genotyping Market Forecast to 2031 - Global Analysis - by Product Type, Technology, Application, End User, and Geography," the market was valued at US$ 30.44 billion in 2023 and is projected to reach US$ 154.35 billion by 2031; it is expected to register a CAGR of 22.5% during 2023-2031. Use in the diagnosis of genetic and rare diseases, and technological advancements and rising R&D investments in the biotechnology and pharmaceutical industries are among the factors contributing to genotyping market growth. However, the high cost of equipment and shortage of skilled professionals hamper the market growth. Further, the increasing popularity of personalized medicine is expected to bring new genotyping market trends in the coming years.
According to the National Health Service of England, personalized medicine is the medical treatment tailored to the unique traits of each patient. The method is based on scientific advancements that provide an understanding of a person's unique genetic and molecular profile that contributes to their susceptibility to diseases as well as helps determine the safest and most effective medical treatments. Genomic medicine, guided by each person's unique genetic, clinical, and environmental information, is a fundamental component of personalized medicine. The fundamentals of personalized medicine involve the standardization, development, and integration of various essential tools into health systems and clinical workflows for the whole-genome studies of transcription, sequence variation, proteins, and metabolites. Health risk assessment, family health history, and clinical decision assistance for complex risk and predictive information are combined with genomic data to detect individual risks and guide clinical treatment, laying the groundwork for a more informed and effective patient care approach.
DNA-based risk assessment for common complex diseases, genome-guided therapy, dose selection, and molecular signatures for cancer diagnosis and prognosis are examples of genome information has already enabled personalized health care. The integration of personalized medicine with healthcare can aid in more precise diagnoses, enable the prediction of disease risk before the occurrence of symptoms and provide individualized treatment plans with maximum safety and efficiency. Genotype data can be utilized as a guideline to determine the correct warfarin dose. The Clinical Pharmacogenetics Implementation Consortium has developed genotype-based drug guidelines to assist physicians in optimizing pharmacological therapies based on genetic test results. Genomic analysis of tumors can help tailor therapeutic approaches for treating individuals with hereditary cancer.
Although scientific discoveries related to personalized medicine are making their way from labs to clinics, the widespread acceptance of personalized medicine necessitates significant changes in regulatory, reimbursement procedures, and legislative privacy laws for rapid adoption of these medicines. Thus, increasing awareness and popularity of personalized medicine due to ongoing researches and use of genome editing techniques is expected to act as a trend for growth of the genotyping market.
Based on product type, the genotyping market is segmented into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held the largest market share in 2023.
Based on technology, the genotyping market is divided into microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption/ionization-time of flight (Maldi-ToF) mass spectrometry, polymerase chain reaction (PCR), and others. The PCR segment held the largest market share in 2023. Polymerase chain reaction (PCR) is widely used to make millions of copies of a specific DNA sample. The sample magnification ability of this technique allows scientists to work with minute samples of DNA. The magnified DNA may be envisioned by gel electrophoresis or processed with restriction enzymes and cloned into a plasmid. PCR has practical applications in genetic testing, forensics, and diagnostics. The technique can be utilized to amplify genes or markers associated with genetic disorders in prenatal testing. PCR can also be used to test for the presence of certain bacteria or DNA viruses in a patient's body-if the pathogen is present, it may be possible to amplify regions of its DNA from a blood or tissue sample. Most PCR methods magnify DNA fragments of lengths ranging from 0.1 and 10 kilobase pairs (kbp), while some techniques allow for amplifying fragments up to 40 kbp. The amount of amplified product is determined on the basis of the substrates leftover in the reaction.
Various pharmaceutical and biopharmaceutical companies offer PCR systems, reagents, and kits for pharmacogenomic and drug development applications. For instance, Thermo Fisher Scientific, Inc. offers a real-time PCR services for pharmacogenomic applications, which works by combining the power of QuantStudio 12K Flex Real-time PCR System with qualified TaqMan genotyping assays. These assays deliver the sample-to-answer workflow that easily allows pharmacogenomic testing, which is marked as their unique feature. Other prominent features of this real-time PCR solution include its fully qualified content, flexible formats, extensive target menu, and cost-effective operations.
In June 2022, Bio-Rad Laboratories launched the CFX Duet Real-Time PCR System. This singleplex and duplex quantitative polymerase chain reaction (qPCR) assay development platform features factory calibration for popular dyes that allows precise measurement of up to two targets in genotyping and multiple gene expression analysis without using passive reference dies. The device has in-built thermal gradient functionality, allowing for optimization in fewer runs.
By application, the market is segmented into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and others. The diagnostics and personalized medicine segment held the largest share of the market in 2023.
Based on end user, the genotyping market is divided into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. The pharmaceutical and biopharmaceutical segment held the largest genotyping market share in 2023.
F. Hoffmann-La Roche Ltd., Integrated DNA Technologies, Inc. (Danaher), Qiagen, Merck KGaA, Eurofins Genomics, Thermo Fisher Scientific Inc., BioTek Instruments, Inc., Xcelris Genomics, Trimgen Corporation, and Illumina, Inc. are among the leading companies operating in the global genotyping market.
Companies operating in the genotyping market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the genotyping market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall genotyping market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.
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