(PharmaNewsWire.Com, September 24, 2019 ) The growth of this market is mainly driven by technological advancements, the decreasing prices of DNA sequencing, and the increasing incidence of genetic diseases.
The genotyping market in the APAC is expected to grow at the highest CAGR during the forecast period. This is due to the increasing incidence of chronic diseases, and growing awareness on the use of genotyping tests to control the inheritance of genetic diseases and the spread of infectious and microbial diseases in APAC countries. Global pharmaceutical and biopharmaceutical companies are also increasingly outsourcing clinical research and trials to companies in this region, which has increased the demand for genotyping products for drug profile assessment, drug efficacy and safety assessment, dosing determination, and drug response evaluation.
The reagents & kits segment is expected to grow at the highest CAGR during the forecast period Based on product, the reagents and kits are expected to grow at the highest rate during the forecast period. This segment is expected to witness the highest CAGR due to the easy accessibility of a wide range of reagents and the increasing need for genotyping in various applications.
Browse and in-depth TOC on “Genotyping Market” 219 - Tables
According to the new market research report “Genotyping Market by Technology (PCR, Sequencing, Microarray, Electrophoresis, MALDI-TOF), Application (Pharmacogenomics, Diagnostic Research, Animal Genetics, Agricultural Biotechnology), and Product - Global Forecast to 2023", published by MarketsandMarkets™, 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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