Global SNP Genotyping and Analysis Market, By Technology (Polymerase Chain Reaction (PCR), Microarray, Next-Generation Sequencing (NGS), Taqman Allelic Discrimination, Pyrosequencing, and Others), By Applications (Diagnostics & Forensics, Pharmacogenomics, Agricultural Biotechnology, and Breeding & Animal Livestock), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 20.2 Billion in 2023 and is expected to exhibit a CAGR of 21.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
New product launches by key market players
The SNP genotyoing and analysis market is anticipated to develop at a significant growth rate during the projected period attributed to the launch of new products by key market players. For instance, in March 2021, Thermo Fisher Scientific, a global leader in science service, has announced the launch of the Applied Biosystems TaqMan SARS-CoV-2 Mutation Panel, a customisable menu of 22 confirmed real-time polymerase chain reaction (PCR) assays for identifying SARS-CoV-2 mutations. These assays allow scientists to choose which mutations to study and enable surveillance of variants causing COVID-19 infections in specific places across the globe.
Global SNP Genotyping and Analysis Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and resulting lockdowns in numerous nations around the world have had an influence on the financial status of companies in all industries, including the SNP genotyping and analysis industry. Many COVID-19 patients experience severe respiratory infections that required hospitalisation and mechanical ventilation. The governments of many nations were focused on steps to combat the COVID-19 pandemic and to halt the spread of coronavirus infection in their individual countries by implementing various measures such as isolation and quarantine facilities, disease surveillance and testing, etc.
The COVID-19 pandemic had a moderate impact on the SNP genotyping and analysis market as these technologies were utilized for detection of the virus strain however, limited availability of skilled technicians hindered large scale usage. Reseaach studies were conducted by several institutes to demonstrate the effectiveness of SNP genotyping for identifying and monitoring circulating SARS-CoV-2 variants. According to a study published on Medrxiv, in January 2022, The Variant Task Force (VTF) of The National Institutes of Health's (NIH) Rapid Acceleration of Diagnostics (RADxSM) initiative chose specific SARS-CoV-2 lineages to detect and monitor emerging strains of COVID-19.
Between November and December 2021, 1,128 samples (1,031 SARS-CoV-2 positives and 97 negatives) were collected and analysed retrospectively from two Clinical Laboratory Improvement Amendments (CLIA)-certified laboratories participating in the CDC National SARS-CoV-2 Strain Surveillance (NS3) sequencing program. The study shows that the Omicron variation may be recognised with high accuracy using two to three markers. Combining Omicron-specific markers with those previously used to find variations can give a framework for detecting new variants.
Global SNP Genotyping and Analysis Market: Key Developments
To boost the research studies in genomic medicine market players are coming up with novel sequencing systems thus, strengthening the market development. For instance, in September 2022, Illumina, Inc., a global leader in DNA sequencing and array-based technologies, announced the availability of the NovaSeq X Series (NovaSeq X and NovaSeq X Plus), two new production-scale sequencers that will push the boundaries in genomic medicine by enabling faster, more powerful, and more sustainable sequencing. Using state-of-the-art technology, NovaSeq X Plus can generate more than 20,000 whole genomes per year – 2.5 times the throughput of previous sequencers– dramatically increasing genomic discoveries and clinical insights, allowing scientists to better understand disease and, ultimately, improve patient lives.
In September 2022, PrecisionLife, a pioneering techbio organization, presented the findings of a study that provides the first detailed genetic insights into the pathophysiological pathways underpinning Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS). Using the PrecisionLife platform and a unique hypothesis-free combinatorial analytics approach, the researchers were able to find 14 novel genetic connections with ME/CFS in the U.K. Biobank cohort. The combinatorial analysis, in particular, showed 199 SNPs corresponding to these 14 genes that were strongly related with 91% of ME/CFS cases in the population.
Browse 32 Market Data Tables and 25 Figures spread through 156 Pages and in-depth TOC on “Global SNP Genotyping and Analysis Market ”- Forecast to 2030, Global SNP Genotyping and Analysis Market , Global SNP Genotyping and Analysis Market, By Technology (Polymerase Chain Reaction (PCR), Microarray, Next-Generation Sequencing (NGS), Taqman Allelic Discrimination, Pyrosequencing, and Others), By Applications (Diagnostics & Forensics, Pharmacogenomics, Agricultural Biotechnology, and Breeding & Animal Livestock), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/snp-genotyping-and-analysis-market-3972
Key Takeaways of the Global SNP Genotyping and Analysis Market :
- The global SNP genotyping and analysis market is expected to exhibit a CAGR of 21.9% during the forecast period, owing to new product launches by key market players. For instance, in May 2021, Novacyt, a leading global diagnostics company, announced that its SNPsig SARS-CoV-2 polymerase chain reaction (PCR) genotyping portfolio has been approved for inclusion in the National Health Service (NHS) England Framework for detecting Variants of Concern (VoC). Novacyt also announced the launch of two novel PCR assays for the detection of SARS-CoV-2 VoC.
- Among applications, the pharmacogenomics segment is anticipated to develop at the highest CAGR over the forecasted period attributed to inorganic growth strategies such as collaboration adopted by key market players. For instance, in June 2021, Twist Bioscience Corporation, a biotechnology firm, announced a collaboration with Regeneron Genetics Center LLC (RGC), a wholly-owned subsidiary of Regeneron Pharmaceuticals, Inc., an America based biotechnology firm, to develop a custom next-generation sequencing (NGS) population genetics genotyping assay. This assay is intended to provide novel insights into disease mechanisms, uncover new therapeutic targets, and accelerate drug research and development. Twist will offer the assay as the Twist Diversity SNP Panel, and the content will be made available to researchers worldwide for usage in population genomics investigations.
- Major players operating in the global SNP genotyping and analysis market include Agilent Technologies Inc., F. Hoffmann-La Roche Ltd, Nucleome Informatics Private Limited, Azenta Life Sciences, Bio-Rad Laboratories Inc., Danaher Corporation, Douglas Scientific LLC, AllGenetics & Biology SL, Illumina Inc., Life Technologies Corp., Consultative Group on International Agricultural Research, Avance Biosciences, Genotypic Technology Pvt Ltd, Xelect Ltd, Taconic Biosciences, Inc., Luminex Corp., Promega Corporation, CD Genomics, Synbio Technologies, Thermo Fischer Scientific Inc., Sequenom, PREMIER Biosoft, Fluidigm Corporation, Novacyt, Twist Bioscience, Regeneron Pharmaceuticals, Inc, NRGene, and LGC Biosearch Technologies, among other prominent players
