Report : Europe 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), and End user (Pharmaceutical and Biopharmaceutical Companies, Diagnostic and Research Laboratories, Academic Institutes, and Other End Users)
At 22.4% CAGR, Europe Genotyping Market is Projected to be Worth US$ 43,883.43 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Europe genotyping market was valued at US$ 8,729.90 million in 2023 and is anticipated to reach US$ 43,883.43 million by 2031, recording a CAGR of 22.4% from 2023 to 2031. Expanding range of applications and increasing popularity of personalized medicine loss are among the critical factors attributed to drive the Europe genotyping market growth.
Genotyping holds potential applications in diagnostic research, pharmacogenomics, and agricultural biotechnology. Moreover, this technique is suitable for a variety of plant breeding, forensic, and environmental testing procedures. Pharmaceutical companies are profiting from the availability of polygenic risk scores, substantial genetic databases linked to patient health information, and the sequencing data of clinical trial participants, among other advancements. The Industry Pharmacogenomics Working Group (I-PWG), an association of pharmaceutical companies, is actively involved in pharmacogenomic research. The I-PWG comprises 26member companies that undertake numerous clinical trials annually, collecting DNA samples of study subjects as part of the protocol. With its focus on clinical pharmacogenomics, the I-PWG aims to generate opportunities for pharmaceutical companies in the coming years. In addition to its most frequent use in oncology research, it is also used for PGx studies conducted in non-oncology therapeutic areas such as rare diseases, immunology, and cardiology. A more comprehensive study, involving the NGS of clinical trial samples, allows for an elaborate genomic evaluation of trial participants, revealing both common and rare genetic variations. PGx includes the study of polymorphic differences in the determination of genomic-level drug/xenobiotic effects, drug response and disease susceptibility, and genotype/phenotype relationships.
Genotyping-by-sequencing (GBS) is a new method to locate and genotype SNPs in crop genomes and human genome by using NGS methods. GBS is developed and deployed in sequencing multiple samples by incorporating molecular markers in the process to further enhance NGS applications in giant crop genome sequencing, such as maize and wheat. High-throughput SNPs detected by GBS are widely used in genetic diversity analysis, genome-wide association studies (GWAS), QTL mapping, and genome prediction (GP) in many plant species. NGS technology has transformed modern biology with high throughput and low cost. With remarkable advancements unlocked by NGS technologies, whole-genome sequencing provides ultra-throughput sequences that revolutionize plant genotyping and breeding. Sequencing by synthesis (SBS) and multiplexing greatly enhances the efficiency of the sequence.
Therefore, greater adoption of genotyping in various research areas would eventually lead to a rise in the demand for these techniques, creating significant opportunities in the market.
On the contrary, high cost of equipment and shortage of skilled professionals hampers the growth of Europe genotyping market.
Based on product type, the Europe genotyping market is categorized into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held 42.8% market share in 2023, amassing US$ 3,734.13 million. It is projected to garner US$ 20,497.08 million by 2031 to register 23.7% CAGR during 2023–2031.
By technology, the Europe 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 33.8% share of Europe genotyping market in 2023, amassing US$ 2,951.97 million. It is projected to garner US$ 14,241.37 million by 2031 to expand at 21.7% CAGR from 2023 to 2031.
Based on application, the Europe genotyping market is categorized into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and other applications. The diagnostics and personalized medicine segment held 36.6% share of Europe genotyping market in 2023, amassing US$ 3,194.51 million. It is predicted to garner US$ 17,596.71 million by 2031 to expand at 23.8% CAGR between 2023 and 2031.
By end user, the Europe 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 59.6% share of Europe genotyping market in 2023, amassing US$ 5,207.35 million. It is estimated to garner US$ 29,010.44 million by 2031 to expand at 23.9% CAGR during 2023–2031.
Based on country, the Europe genotyping market is categorized into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Our regional analysis states that Germany captured 25.3% share of Europe genotyping market in 2023. It was assessed at US$ 2,210.90 million in 2023 and is likely to hit US$ 11,906.65 million by 2031, registering a CAGR of 23.4% during 2023–2031.
Key players operating in the Europe genotyping market are Hoffmann-La Roche Ltd, QIAGEN NV, Merck KGaA, EUROFINS 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 2021, Thermo Fisher Scientific Inc., the world leader in serving science, is empowering scientists to drive groundbreaking discoveries with the introduction of new-generation mass spectrometry instruments, workflows, and software.
- In September 2022, Bio-Rad Laboratories, Inc. launched PTC Tempo 48/48 and PTC Tempo 384 Thermal Cyclers, designed to support PCR applications in basic and translational research, process development, and quality control. The PTC Tempo 48/48 and PTC Tempo 384 Thermal Cyclers are the latest additions to the Bio-Rad portfolio of conventional PCR thermal cyclers.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com