Single Nucleotide Polymorphism (NYSE:SNP) is a novel class of DNA markers utilized widely in genomic studies. SNP genotyping and analysis is an upcoming area of interest for researchers of genomics. It is utilized primarily as a research tool for identifying genomic variations that result in different morphological traits and can help in determining the ancestry and health of animals and plants.
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Transparency Market Research (TMR), a market intelligence company, provides answers to a number of key questions related to the SNP genotyping and analysis market. These answers provide a better understanding of the major factors impacting the growth of the market, chief application areas of SNP genotyping, and the future outlook of the market.
Q. What factors have created high economic value for the players operating in the SNP genotyping and analysis market?
The launch of a number of new SNP genotyping technologies such as TaqMan allelic discrimination, SNP GeneChips and microarrays, SNPlex, MassARRAY Matrix-assisted Laser Desorption/Ionization-Time-of-Flight, and SNP by pyrosequencing will have a great impact on the growth of the overall market for SNP genotyping and analysis.
This market is predicted to expand at a whopping CAGR of 21.80% between 2013 and 2019. The soaring research interest within applications such as livestock breeding, pharmacogenomics and pharmaceuticals, and agricultural biotechnology has developed opportunities of high economic value for the players operating in this market. A large number of these opportunities will also enable the average consumers within both emerging and developed economies to have an access to genotyping. A number of projects of genomic selection have been completed in commercial domestic animals.
Q. What drivers, opportunities, and challenges will impact the market dynamics?
The growing demand from pharmacogenomics and diagnostic research as well as the proliferation of innovative technologies is a key factor stimulating the growth of the SNS genotyping and analysis market. In addition, the rising occurrence genetic diseases and the growing awareness about personalized medicine will impact the market positively.
Furthermore, the developing economies as well as the rising per capita income of individuals will also impact the market positively. The soaring demand for affordable genotyping services is a prime opportunity within this market. On the other hand, the large redundant data owing to imperfect protocols in the SNS genotyping and analysis market and the increasing number of complications in reimbursement globally are the major factors that may inhibit the growth of the market.
Q. What is the future outlook of the SNP genotyping and analysis market?
There is a high intensity of research taking place on the application of SNP genotyping in food crops such as wheat, rice, maize, corn, oats, and other grasses. SNP genotyping is widely gaining acceptance in agriculture.
For instance, the GeneChip Rice 44K array presented by Affymetrix is amongst the most well-known platforms for rice genotyping. This array identifies variants that impact yield. Owing to the rising count of cost-effective SNP detection and genotyping techniques becoming available, SNP genotyping will likely be utilized extensively within crop genetics and in a number of other applications globally in the coming years.