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Genotyping Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Service, Technology, Application, End-User, and Geography

·7-min read
ReportLinker
ReportLinker

The global genotyping market is expected to grow from US$ 25,191. 28 million in 2022 to US$ 79,407. 14 million by 2028; it is expected to grow with a CAGR of 21. 1% from 2022 to 2028. The use of genotyping in drug development for genetic & rare diseases and rising R&D investments in pharmaceutical & biotechnology boost the global genotyping market growth.

New York, July 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genotyping Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product and Service, Technology, Application, End-User, and Geography" - https://www.reportlinker.com/p06295674/?utm_source=GNW

Genotyping compares a DNA sequence to another sample or a reference sequence to discover variations in genetic complement.It detects single-nucleotide polymorphisms (SNPs), which are minor differences in genetic sequence within the population.

The human genome has about 660 million SNPs, making them the most prevalent kind of genetic variation.They can explain features such as eye color and hereditary disorders such as cystic fibrosis and sickle cell anemia and serve as indicators for developing complicated diseases such as cancer, diabetes, and Alzheimer’s.

According to the GLOBOCAN database published in 2020, an estimated 28.4 million new cancer cases are predicted to occur in 2040, a 47% increase from the corresponding 19.3 million cases in 2020.

According to the Alzheimer’s Association, in 2022, the number of people living with Alzheimer’s in the US rapidly increases.Alzheimer’s affects more than 6 million Americans of all ages.

In 2022, an estimated 6.5 million Americans aged 65 and up have Alzheimer’s, out of which 73% of the population is 75 years old or older.
According to the International Diabetes Federation (IDF) consortium, in 2019, type 2 diabetes (T2D) is one of the leading causes of death worldwide, accounting for 4.2 million deaths in 2019. According to the same research, Iran ranks third among 20 countries in the Middle East and North Africa (MENA) in terms of the number of adults with diabetes (5.4 million), estimated that about 9.2 million Iranians may catch the disease by 2030. Type 2 diabetes is a complex metabolic illness caused by genetic and non-genetic (environmental) factors. The heritability of T2D varies between 20% and 80%, indicating that genetic factors play a significant part in the disease’s development; the disease’s heritable component is polygenic, meaning that multiple genes and their variations contribute to an increased risk of T2D development. The introduction of high-throughput genotyping technologies has greatly advanced our understanding of the genetic components of complex disorders, such as T2D.
Additionally, by comparing polymorphisms in two distinct populations (one healthy and one diseased), genome-wide association studies (GWAS) can uncover links between SNPs and common illness risk.
GWAS can begin to untangle the molecular mechanisms underlying disease states by finding probable causative variables risk stratification.Single-celled organisms, such as bacteria, even have SNPs.

SNP genotyping can discriminate between microorganism isolates and might even be accustomed to characterizing antibiotic resistance strains. SNP-based strain detection has relevance in each clinical and pharmaceutical analysis and has been used to study the spread of infectious diseases in humans.
As per the Global Genes Project, 2017, up to 350 million people worldwide suffer from rare diseases.Although individual diseases are rare, they pose significant challenges to the global healthcare system.

As per the WHO, in 2020, more than 1.7 million children in India were born with congenital disabilities for which genetic or chromosomal abnormalities are the major causal agent.
Since these conditions are difficult to identify clinically, genotyping is the backbone of diagnostic testing in the population. This rising adoption of prenatal genetic screening to examine children’s chromosomal anomalies could prove to be a major driving factor.

Over the last decade, next-generation sequencing (NGS) technology has enabled simultaneous testing of multiple disease genes, from targeted gene panels to exome sequencing (ES) and genomic sequencing (GS).GS is quickly becoming a practical first-stage test as costs decrease and performance improves.

More and more studies show that GS can detect an unprecedented range of pathogenic abnormalities in a single laboratory.GS has the potential to provide patients with unbiased, rapid, and accurate molecular diagnostics that transcend diverse clinical indications and complex conditions.

Therefore, the use in drug development for genetic and rare diseases across the globe will act as one of the key factors driving the growth of the genotyping markets.

The genotyping market witnessed a surge in the COVID-19 crisis owing to increased demand for COVID-19 genotyping kits.Single nucleotide polymorphism (SNP) genotyping has been used to detect genetic variants of the Covid-19 virus.

As the SARS-CoV-2 virus continues to evolve, variants of concern (VOC) could increase transmissibility and impair the efficacy of COVID-19 vaccines. As a response, physicians across the globe began genotyping SARS-CoV-2 variations.
The COVID-19 pandemic increased the demand for genotyping-based research activities to develop COVID diagnostics, vaccines, and therapeutics.Scientists from Brazil and the UK formed the Center for Arbovirus Discovery, Diagnosis, Genomics, and Epidemiology (CADDE) team.

Within 48 hours of the first verified case in early March 2020, the team in Brazil sequenced the genome of the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).

Further, increased product launches such as reagents & kits, bioinformatics, and genotyping services.For instance, In March 2020, Singapore-listed medtech company Biolidics launched its rapid test kit for COVID-19 detection.

A manufacturing agreement was made with a manufacturer of a diagnostic kit manufacturer to customize and manufacture the rapid test kits. Biolidics has obtained provisional authorization from Singapore’s Health Science Authority (HSA) for its rapid test kit to be used in Singapore.
In addition, In June 2022, CoviEasy "At-Home" self-test kit for COVID-19 was introduced by Genes2Me.One of the top IVD solution manufacturers in India, Genes2Me Pvt.

Ltd., launched their CoviEasy Self-Test Rapid Antigen test kit for COVID-19, which is simple to use and provides fast results in 10 minutes. This IVD device offers high sensitivity and concordance of more than 90% accuracy and is supported by an AI-driven mobile app. Thus, the pandemic had a positive impact on the genotyping market.

Based on product and service, the genotyping market is segmented into instruments, reagents & kits, bioinformatics, and genotyping services.In 2022, the reagents and kits segment is estimated to hold the largest share of the market.

The same segment is expected to register the highest CAGR from 2022 to 2028.
Based on technology, the genotyping market is segmented into microarrays, capillary electrophoresis, sequencing, matrix-assisted laser desorption/ionization-time of flight (Maldi-ToF), and mass spectrometry, polymerase chain reaction (PCR), and others.In 2022, the polymerase chain reaction (PCR) segment is estimated to hold the largest share of the market.

The same segment is expected to register the highest CAGR from 2022 to 2028.

Based on application, the genotyping market is segmented into pharmacogenomics, diagnostics & personalized medicine, animal genetics, agricultural biotechnology, and others.In 2022, the diagnostics & personalized medicine segment is expected to account for the largest share of the market.

Moreover, the pharmacogenomics segment is expected to register the highest CAGR from 2022 to 2028.

Based on end user, the genotyping market is segmented into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. In 2022, the diagnostic and research laboratories segment is expected to account for the largest share of the market. Moreover, the pharmaceutical and biopharmaceutical companies segment is expected to register the highest CAGR from 2022 to 2028

National Science Foundation (NSF), Gene People, Globocan, World Health Organization (WHO), National Science Foundation (NSF), International Trade Administration US Department of Commerce, Department of Emergency Medicine, Alzheimer’s Association, International Diabetes Federation (IDF), National Health Service of England, US Centers for Medicare & Medicaid Services, The Spanish Association of Biotech companies (ASEBIO), are among the primary and secondary sources referred to while preparing the report on the genotyping market.
Read the full report: https://www.reportlinker.com/p06295674/?utm_source=GNW

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