Report : North America 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 23.0% CAGR, North America Genotyping Market is Projected to be Worth US$ 62,900.63 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the North America genotyping market was valued at US$ 12,044.57 million in 2023 and is anticipated to reach US$ 62,900.63 million by 2031, recording a CAGR of 23.0% from 2023 to 2031. Increasing popularity of personalized medicine and use in diagnosis of genetic and rare diseases loss are among the critical factors attributed to drive the North America genotyping market growth.
According to the National Health Service of England, personalized medicine is the medical treatment tailored to the unique traits of each patient. The method is based on scientific advancements that provide an understanding of a person's unique genetic and molecular profile that contributes to their susceptibility to diseases as well as helps determine the safest and most effective medical treatments. Genomic medicine, guided by each person's unique genetic, clinical, and environmental information, is a fundamental component of personalized medicine. The fundamentals of personalized medicine involve the standardization, development, and integration of various essential tools into health systems and clinical workflows for the whole-genome studies of transcription, sequence variation, proteins, and metabolites. Health risk assessment, family health history, and clinical decision assistance for complex risk and predictive information are combined with genomic data to detect individual risks and guide clinical treatment, laying the groundwork for a more informed and effective patient care approach.
DNA-based risk assessment for common complex diseases, genome-guided therapy, dose selection, and molecular signatures for cancer diagnosis and prognosis are examples of genome information has already enabled personalized health care. The integration of personalized medicine with healthcare can aid in more precise diagnoses, enable the prediction of disease risk before the occurrence of symptoms and provide individualized treatment plans with maximum safety and efficiency. Genotype data can be utilized as a guideline to determine the correct warfarin dose. The Clinical Pharmacogenetics Implementation Consortium has developed genotype-based drug guidelines to assist physicians in optimizing pharmacological therapies based on genetic test results. Genomic analysis of tumors can help tailor therapeutic approaches for treating individuals with hereditary cancer.
Although scientific discoveries related to personalized medicine are making their way from labs to clinics, the widespread acceptance of personalized medicine necessitates significant changes in regulatory, reimbursement procedures, and legislative privacy laws for rapid adoption of these medicines. Thus, increasing awareness and popularity of personalized medicine due to ongoing research and use of genome editing techniques is expected to act as a trend for growth of the genotyping market.
On the contrary, high cost of equipment and shortage of skilled professionals hamper the growth of North America genotyping market.
Based on product type, the North America genotyping market is categorized into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held 43.0% market share in 2023, amassing US$ 5,174.59 million. It is projected to garner US$ 30,465.86 million by 2031 to register 24.8% CAGR during 2023–2031.
By technology, the North America 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 33.5% share of North America genotyping market in 2023, amassing US$ 4,038.32 million. It is projected to garner US$ 20,238.04 million by 2031 to expand at 22.3% CAGR from 2023 to 2031.
Based on application, the North America genotyping market is categorized into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and other applications. The diagnostics and personalized medicine segment held 36.8% share of North America genotyping market in 2023, amassing US$ 4,432.18 million. It is predicted to garner US$ 25,690.24 million by 2031 to expand at 24.6% CAGR between 2023 and 2031.
By end user, the North America 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 59.4% share of North America genotyping market in 2023, amassing US$ 7,152.66 million. It is estimated to garner US$ 42,606.07 million by 2031 to expand at 25.0% CAGR during 2023–2031.
Based on country, the North America genotyping market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.8% share of North America genotyping market in 2023. It was assessed at US$ 10,091.29 million in 2023 and is likely to hit US$ 54,195.37 million by 2031, registering a CAGR of 23.4% during 2023–2031.
Key players operating in the North America genotyping market are Hoffmann-La Roche Ltd, QIAGEN NV, Merck KGaA, Thermo Fisher Scientific Inc, BioTek Instruments, Inc, TRIMGEN CORPORATION, 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 November 2021, The cobas 5800 System is a compact new addition to the Roche Molecular portfolio, providing efficiency, simplicity and timely results to laboratories of all sizes so clinicians can quickly determine the best treatment strategies for their patients.
- In May 2022, The launch of QIAstat-Dx Rise syndromic testing platform provides automated, comprehensive pathogen testing for higher-demand medical institutions. QIAstat-Dx Rise and its test cartridges are a closed system for hands-off sample preparation and processing. With a random access capacity of up to 18 different tests, it can provide diagnostic results for up to 56 tests in an eight-hour shift and 160 tests per day by using eight analytical modules. Building on the existing QIAstat-Dx Analyzer with up to four analytical modules, QIAstat-Dx Rise is a flexible new option for increased testing capacity.
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