Report : Asia Pacific Genotyping Market Forecast to 2031 – Regional Analysis – by Product Type (Instruments, Reagents and Kits, Bioinformatics, and Genotyping Services), Technology (Microarray, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction (PCR), Matrix-Assisted Laser Desorption / MALDI-TOF, and Other Technologies), Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Animal Genetics, Agricultural Biotechnology, and Other Applications), End user (Pharmaceutical and Biopharmaceutical Companies, Diagnostic and Research Laboratories, Academic Institutes, and Other End Users)
At 23.5% CAGR, Asia Pacific Genotyping Market is Projected to be Worth US$ 35,048.62 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific genotyping market was valued at US$ 6,489.96 million in 2023 and is anticipated to reach US$ 35,048.62 million by 2031, recording a CAGR of 23.5% from 2023 to 2031. Technological advancements and rising R&D investments in biotechnology and pharmaceutical industry and increasing popularity of personalized medicine loss are among the critical factors attributed to drive the Asia Pacific genotyping market growth.
Genotyping market players are focusing on increasing their investments in projects aimed at advancements in biotechnology to come up with better alternatives to conventional techniques.
• In January 2024, Thermo Fisher Scientific launched Axiom PangenomiX Array, offering optimal genetic coverage for pharmacogenomic research and population-scale disease studies. This array is currently the only research solution that can run four assays in one test: SNP genotyping, complete genome copies number variant detection, fixed copy number discovery, and blood and HLA typing.
• In September 2023, Bio-Rad launched new PTC Tempo 48/48 and PTC Tempo 384 thermal cyclers for sequencing, cloning, and genotyping. The PTC Tempo thermal cyclers are built with an intuitive user interface and flexible connectivity features to streamline protocol management, along with monitoring capabilities on the cloud platform.
• In January 2023, Qiagen acquired Verogen, a company that uses next-generation sequencing (NGS) techniques to drive the future of forensic investigation and human identification (HID). QIAGEN and Verogen together are expected to create opportunities to help researchers advance forensic science, thereby aiding in accurate suspect identification, finding missing persons, and exonerating innocent individuals.
• In June 2022, NRGene launched Soy SNPro, a product covered under predesigned SNP sets for genotyping (DNA tests) of various crops. SNPro is an off-the-shelf complete genotyping solution that combines low-density genotyping with high-density imputation.
• In May 2022, NEOGEN Corporation and Gencove announced the launch of InfiniSEEK, an innovative and cost-effective solution for addressing difficulties involved in whole-genome sequencing and targeted SNP analyses.
Such technological breakthroughs have the potential to enable miniaturization, automation, and cost reduction. They can also aid in operational flexibility and multiparameter testing. All these benefits add to the uses and convenience of DNA sequencing, allowing clinicians to concentrate on higher-level decisions such as selecting and prioritizing therapeutic targets through various genotyping studies. Further, technological advancements in DNA sequencing, such as NGS, have enabled speedy, accurate sequencing, allowing for great productivity. Thus, the growing research and development activities, along with increasing government funding for genome-based projects, contribute to the genotyping market progress.
On the contrary, high cost of equipment and shortage of skilled professionals hamper the growth of Asia Pacific genotyping market.
Based on product type, the Asia Pacific genotyping market is categorized into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held 45.7% market share in 2023, amassing US$ 2,964.34 million. It is projected to garner US$ 17,395.53 million by 2031 to register 24.8% CAGR during 2023–2031.
By technology, the Asia Pacific genotyping market is categorized into microarrays, capillary electrophoresis, sequencing, polymerase chain reaction (PCR), matrix-assisted laser desorption / MALDI-TOF, and other technologies. The polymerase chain reaction (PCR) segment held 33.7% share of Asia Pacific genotyping market in 2023, amassing US$ 2,189.17 million. It is projected to garner US$ 11,347.27 million by 2031 to expand at 22.8% CAGR from 2023 to 2031.
Based on application, the Asia Pacific genotyping market is categorized into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and other applications. The diagnostics and personalized medicine segment held 36.0% share of Asia Pacific genotyping market in 2023, amassing US$ 2,333.66 million. It is predicted to garner US$ 13,807.93 million by 2031 to expand at 24.9% CAGR between 2023 and 2031.
By end user, the Asia Pacific genotyping market is categorized into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and other end users. The pharmaceutical and biopharmaceutical companies segment held 60.4% share of Asia Pacific genotyping market in 2023, amassing US$ 3,917.42 million. It is estimated to garner US$ 23,530.68 million by 2031 to expand at 25.1% CAGR during 2023–2031.
Based on country, the Asia Pacific genotyping market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.2% share of Asia Pacific genotyping market in 2023. It was assessed at US$ 1,636.96 million in 2023 and is likely to hit US$ 10,109.99 million by 2031, registering a CAGR of 25.6% during 2023–2031.
Key players operating in the Asia Pacific genotyping market are Hoffmann-La Roche Ltd, QIAGEN NV, Merck KGaA, XCELRIS GENOMICS, Thermo Fisher Scientific Inc, BioTek Instruments Inc, Illumina Inc, Danaher Corp, Bio-Rad Laboratories Inc, GE HealthCare Technologies Inc, Standard BioTools Inc, Laboratory Corp of America Holdings, Beckman Coulter Inc, BGI, Takara Bio Inc, and DiaSorin SpA., among others.
- In January 2023, GE completed the separation of its healthcare business, launching GE HealthCare Technologies Inc. GE remains on track to launch GE Aerospace and GE Vernova as independent, industry-leading, investment grade companies in early 2024.
- In May 2023, Standard BioTools Inc. launched NGS library preparation functionality on the X9 High-Throughput Genomics System. For the first time ever, customers can perform real-time PCR and next-generation sequencing (NGS) library prep applications on a single benchtop system to support discovery through screening.
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