Global SNP Genotyping and Analysis Market is valued approximately at USD 15 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21% over the forecast period 2020-2026. Single Nucleotide Polymorphisms (SNP) genotyping is the practice of screening and examining of genetic variations of SNPs between members of a species. The use of SNP genotyping is rapidly growing from personalized genetic testing to plant and animal biotechnology. Since, it helps in identifying the correlations between the genotype and behavior revealed by all living organisms. Further, SNP genotyping also gives an idea about the human genome classification and transfer of hereditary diseases. Thus, it is gaining a huge value in the pharmaceutical and medical fields, as it predicts disease association and the individual’s response for specific medication.
Unlike the conventional time-consuming, labor-extensive and expensive detection technologies, SNP technology is considering as a highly efficient, relatively economical, and automated technology for genetic screening. Growing prevalence of incurable diseases such as cancer, diabetes and more, escalating demand for genetic analysis in animal and plant feedstock, and the high availability of private and public funding programs for genetics are the few factors responsible for high CAGR of the market over the forecast period. According to the International Diabetic Federation (IDF), the number of adults with diabetes was estimated around 415 million in 2015, and this number is projected to grow to almost 578 million by 2030, globally.
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Similarly, IDF also estimated that the number of diabetic patients in Europe is likely to rise from nearly 33 million in 2010 to 38 million in 2030. This, in turn, is expected to accelerate the demand for SNP Genotyping and Analysis, thus contributing to the growth of the global market. However, lack of standardization and privacy concerns in SNP process are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global SNP Genotyping and Analysis market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the favorable government policies towards proper diagnosis and treatment of fatal diseases, along with the presence of extreme advanced technologies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to rise in incidences of targeted diseases and growing healthcare facilities in the countries like China and India.
Major market player included in this report are:
Douglas Scientific LLC
Life Technologies Corp.
Thermo Fischer Scientific Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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