The major factors driving the growth of this market include technological advancements, the decreasing prices of DNA sequencing, and the increasing incidence of genetic diseases. 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 genotyping assay market is expected to reach USD 31.9 billion by 2023 from an estimated USD 11.8 billion in 2018, at a CAGR of 22.0%.
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Driver: Technological Advancements and Decreasing Prices of DNA Sequencing
Technical advancements have allowed for miniaturization, automation, and reduced overall costs, as well as operational flexibility and the incorporation of multi-parameter testing. All of these have greatly helped increase the applications and convenience of DNA sequencing, allowing physicians to focus on high-level decision-making such as identifying and prioritizing drug targets through various genotyping studies. This has directly boosted the uptake of PCR, sequencing, capillary electrophoresis, and microarray technologies in fields such as drug discovery and clinical research.
Restraint: High Cost of Equipment Used In Genotyping
Instruments required to carry out genotyping tests are very expensive, and high capital investment is required for their installation. For instance, qPCR systems cost ~USD 20,000–30,000, while dPCR systems cost USD 65,000–USD 70,000 for manual dPCR and crest at USD 100,000 for automated dPCR. NGS sequencers can cost between USD 19,900 to USD 1 million. Illumina’s new sequencers—NovaSeq 5000 and NovaSeq 6000—are priced at about USD 850,000 and USD 985,000, respectively.
Opportunity: Increasing Application Areas of Genotyping
Genotyping platforms have several potential application areas such as pharmacogenomics, diagnostic research, personalized medicine, and forensics. Furthermore, this technology is also apt for a range of veterinary needs, food safety and quality, and environmental testing in remote areas and industrial settings. At present, human diagnostics and pharmacogenomics offer significant marker potential as these segments require rapid genotyping analysis on a large scale due to the need for better treatment options and high disease prevalence.
Challenge: Data Management in Genotyping Research
Quantitative and qualitative genotyping studies generate massive volumes of data. Earlier, this data was stored manually; however, this presented a major challenge as up to gigabytes of data could be generated within a few hours. Technological advancements have enabled automation in the data storage process by creating databases for storing genotyping data. However, understanding the full potential of such datasets is another hurdle for technicians.
North America, the largest regional market for genotyping
North America is expected to account for the largest share of the genotyping assay market in 2018, followed by Europe and the Asia Pacific. The increasing adoption of technologically advanced genotyping products, the high healthcare expenditure, presence of advanced healthcare infrastructure, highly developed healthcare systems in the US and Canada, large number of genotyping-based R&D projects, and the presence of a large number of leading genotyping manufacturers in the region, along with an increasing demand from pharmaceutical companies for genotyping products and rising investments by government bodies, are responsible for the large share of the North American genotyping market.
The prominent players in the genotyping assay market are Thermo Fisher Scientific (US), Illumina (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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