The genotyping market is expected to reach $59.31 billion by 2032, driven by technological advancements.

From GlobeNewswire: 2024-12-07 09:00:00

The Genotyping Market was valued at $17.9 billion in 2023 and is projected to reach $59.31 billion by 2032, with a CAGR of 14.27% from 2024 to 2032. Advancements in genomics and biotechnology are driving market growth, with applications in healthcare, agriculture, and drug discovery. Emerging technologies like NGS and CRISPR are streamlining genotyping processes.

Reagents & Kits dominate the genotyping market, capturing 62% of revenue in 2023, while Software and Services are expected to grow at a CAGR of 17.77% from 2024 to 2032. The Diagnostics and Research segment leads in revenue, with Pharma projected to drive future growth at a CAGR of 16.09% from 2024 to 2032.

North America leads the genotyping market with a 42% share, driven by advanced healthcare systems and strong demand for genetic testing. Asia Pacific is projected to be the fastest-growing region with a CAGR of 16.73% from 2024 to 2032, fueled by rising healthcare spending and growing adoption of genetic testing. The Genotyping Market is rapidly expanding, offering global players opportunities to drive advancements in genomics and personalized medicine. Key developments include Illumina’s partnership with LGC Biosearch Technologies and QIAGEN’s collaboration with Eli Lilly. Market dynamics, statistical insights, and competitive landscape analysis provide a comprehensive view of the industry’s growth potential. Contact S&S Insider for expert analysis and insights.



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