Genotyping Assay Market and Growing Importance of Genotyping in Drug Development

(IT-NEWSWIRE.COM, May 11, 2020 ) The major factors that are expected to be driving the genotyping assay market are technological advancements and the decreasing prices of DNA sequencing. The increasing incidence of genetic diseases and rising awareness of personalized medicine, growing importance of genotyping in drug development, and the increasing demand for bioinformatics solutions in data analysis are also expected to promote market growth in the coming years.

The objective of the report is to define, describe, and forecast the genotyping assay market size based on product & service, technology, application, end user, and region.

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Restraining Factors:

🔽 The high cost of tools is expected to hamper the market growth to a certain extent during the forecast period.

Drivers:

🔽 Technological Advancements and Decreasing Prices of DNA Sequencing

🔽 Increasing Incidence of Genetic Diseases and Rising Awareness on

Personalized Medicine

🔽Growing Importance of Genotyping in Drug Development

🔽 Increasing Demand for Bioinformatics Solutions in Data Analysis

Genotyping Market, By Application :

🔽 Pharmacogenomics

🔽 Diagnostic & Personalized Medicine

🔽 Agricultural Biotechnology

🔽 Animal Genetics

🔽 Other Applications (Prenatal Testing, Human Forensics, Microbial Genomic Studies, and Aquaculture Breeding Studies)

MarketsandMarkets forecasts the Genotyping Assay market to grow from USD 11.8 billion in 2018 to USD 31.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period.

Key Players:

Illumina (US), Thermo Fisher Scientific (US), QIAGEN (Netherlands), Agilent Technologies (US), Danaher Corporation (US), Roche Diagnostics (Switzerland), GE Healthcare (US), Fluidigm Corporation (US), PerkinElmer (US), Eurofins Scientific (Luxembourg), Bio-Rad Laboratories (US), Pacific Biosciences of California (US), GENEWIZ (US), and Integrated DNA Technologies (US).

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MarketsandMarkets™

Mr. Aashish Mehra

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raviraj.tak@marketsandmarkets.com

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Genotyping Assay Market and Growing Importance of Genotyping in Drug Development