Global Genotyping Assay Market is anticipated to grow at a 21.8% CAGR from 2019 to 2030
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.
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.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Genotyping Assay Market by Product & Services (Reagents & Kits, Instruments, Services) Technique (PCR, Sequencing, Electrophoresis), End Users (Diagnostic & Research laboratories, Pharmaceutical & Bio Technique Companies) and Region - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/genotyping-assay-market /7
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.
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.
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.
Market Industry Reports is a global leader in market measurement and advisory services. It is 100% subsidiary of Maniks Systems Pvt Ltd. The firm has always been at the forefront of innovation to address the worldwide industry trends and opportunities.
We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates the consumer study in more than 100 countries that provide a tactical approach to drive the sustained growth for the business. We continue to pioneer state-of theart approach in research & analysis that makes complex world simpler to stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence we bring proficient contingency to our clients in the evolving world of technologies, megatrends and industry convergence. We empower and inspire Vanguards to fuel and shape their business to build and grow world-class consumer products.