- Market Growth.
- Application of Genotyping assay market.
- Regional Growth.
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.
MarketsandMarkets forecasts the Genotyping Assay market to grow from USD 11.8 billion in 2018 to USD 31.9 billion by 2023, at a Compound Annual Growth Rate (OTC:CAGR) of 22.0% during the forecast period.
The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
The major factors that are expected to be driving the Genotyping Assay market are technological advancements and the decreasing prices of DNA sequencing.
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Application of Genotyping assay market:
- Diagnostic & Personalized Medicine
- Agricultural Biotechnology
- Animal Genetics
- Other Applications (Prenatal Testing, Human Forensics, Microbial Genomic Studies, and Aquaculture Breeding Studies)
The objective of the report is to define, describe, and forecast the genotyping assay market size based on product & service, technology, application, end user, and region.
Regional Growth, Development and Demand Analysis:
North America is expected to hold the largest market size in the global genotyping market during the forecast period, followed by the European region. 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.
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