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Press Release: SNP Genotyping and Analysis Market to Reach US$ 46,268.9 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Single Nucleotide Polymorphism (SNP) represents the most common type of mutation in genomes of all life forms. SNP genotyping is the measurement of genetic variations of SNPs between members of a species.
The global SNP genotyping and analysis market is estimated to account for US$ 11,553.0 Mn in terms of value in 2020 and is expected to reach US$ 46,268.9 Mn by the end of 2027.
Global SNP Genotyping and Analysis Market: Drivers
Increasing prevalence of genetic disorders is expected to propel growth of the global SNP genotyping and analysis market over the forecast period. For instance, according to Summary of the Cystic Fibrosis Foundation Patient Registry, 2003–2018, the number of people with cystic fibrosis increased from 21,421 in 2003 to 30,775 in 2018.
Moreover, collaborative efforts to enhance personalized medicine is also expected to aid in growth of the market. For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the company’s multi-omics database.
SNP Microarray held dominant position in the global SNP genotyping and analysis market in 2019, accounting for 37.9% share in terms of value, followed by Taqman Allelic Discrimination and Others, respectively.
Figure 1. Global SNP Genotyping and Analysis Market Share (%), by Value, by Technology, 2019
Global SNP Genotyping and Analysis Market: Restraints
Imperfect protocols leading to large redundant data are expected to hinder growth of the market. Several areas such as diagnostics within the genotyping segment are currently yet to reveal themselves as potential markets. Although diagnostics has been closely associated with SNP genotyping, currently the genotyping technique only serves as a research tool in diagnostics instead of being able to conduct a diagnostic test.
Moreover, despite the high accuracy of short read sequencing, there are still issues with attaining accurate SNP genotypes at low sequencing coverage and in highly duplicated genomes due to misalignment, which is also expected to limit growth of the market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 9,485.2 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 21.9% | 2027 Value Projection: | US$ 46,268.9 Mn |
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| Companies covered: |
LGC Limited, Fluidigm Corporation, Illumina, Inc., Life Technologies Corporation, PREMIER Biosoft, Thermo Fisher Scientific, and Sequenom, Inc. |
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Global SNP Genotyping and Analysis Market: Opportunities
Increasing adoption of SNP genotyping in farm animal gene exploration is expected to offer lucrative growth opportunities for players in the global SNP genotyping and analysis market. For instance, in April 2020, researchers from Jung P & C Institute, Inc., South Korea, used Bayesian methods under different genotyping platforms to perform genomic analysis in Korean Duroc pigs.
Moreover, genomic, retrospective, multicenter analysis of cancer is also expected to aid in growth of the market. For instance, in June 2020, a study presented via the virtual Society of Gynecologic Oncology 2020 Annual Meeting on Women's Cancer, reported examining a large clinical dataset of low-grade serous ovarian cancer through the Ovarian Cancer Association Consortium, with the primary goal of identifying factors that affect survival.
The global SNP genotyping and analysis market was valued at US$ 9,485.2 Mn in 2019 and is forecast to reach a value of US$ 46,268.9 Mn by 2027 at a CAGR of 21.9% between 2020 and 2027.
Figure 2. Global SNP Genotyping and Analysis Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2020, Fluidigm Corporation acquired InstruNor AS, a privately held provider of fully integrated sample preparation system for flow and mass cytometry.
Major players in the market are focused on investing in targeted therapies. For instance, in October 2018, Thermo Fisher Scientific facilitated the next phase of the FinnGen precision medicine study that aims to deepen the overall understanding of chronic disease mechanisms in the Finnish population.
Global SNP Genotyping and Analysis Market: Competitive Landscape
Major players operating in the global SNP genotyping and analysis market include, LGC Limited, Fluidigm Corporation, Illumina, Inc., Life Technologies Corporation, PREMIER Biosoft, Thermo Fisher Scientific, and Sequenom, Inc.
Global SNP Genotyping and Analysis Market: Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in July 2019, Thermo Fisher Scientific launched three new Applied Biosystems AgriSeq targeted genotyping by sequencing solutions that will allow customers to genotype canines and felines.
Genotyping refers to determining differences in the genetic make-up by analyzing DNA sequences of individuals. Genotyping has wide variety of applications ranging from drug discovery to disease diagnosis. Genetic diseases (which have different genetic make ups in certain places in DNA) can be identified and diagnosed by comparing those sequences with the reference sequences.
Restraints of the Global SNP Genotyping and Analysis Market
Major factors hampering the growth of the SNP genotyping and analysis market during the forecast period constitutes of imperfect protocols leading to large redundant data, and high costs of devices.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 32 market data tables and 25 figures on “SNP Genotyping and Analysis Market – Global forecast to 2027.
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