The SNP Genotyping And Analysis Market To Accelerate Due To Rising Prevalence Of Chronic Diseases

Author : pratik chopade | Published On : 27 Feb 2024

The growing need for accurate disease diagnosis and personalized treatment is propelling the SNP genotyping and analysis market. SNP genotyping refers to techniques used to assay and detect differences in single nucleotide polymorphisms (SNPs) between members of biological species or paired chromosomes in an individual. It helps understand how genetics affect aspects of health, such as a person's response to pathogens, chemicals, drugs, vaccines or environmental toxins.

The global SNP genotyping and analysis market is estimated to be valued at US$ 23.28 billion in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the SNP genotyping and analysis market are The Dow Chemical Company, DuPont, Eastman Chemical Company, Evonik Industries AG, Amcor Limited, Berry Plastics Corporation, Griffon Corporation Inc., Mitsubishi Chemical Holdings Corporation, Honeywell International Inc. These companies are investing in R&D to develop advanced genotyping technologies.

Rising incidence of chronic diseases such as cancer and cardiovascular diseases is driving demand for early detection and prevention through genetic testing. Growing awareness about personalized medicine and disease risk assessment is further fueling adoption of SNP genotyping techniques.

Technological advancements such as next-generation sequencing (NGS), microfluidics, microarrays are making genotyping cheaper, faster and more accurate. Novel techniques enable genotyping of thousands to millions of SNPs simultaneously, facilitating drug development and precision medicine.

Market Trends

- Growing application of SNP genotyping in pharma R&D for target identification, drug efficacy and safety evaluation is a key trend. Major players are collaborating with pharmaceutical companies.
- Multi-omics approach integrating genome sequencing, transcriptomics and proteomics is gaining traction to obtain deeper clinical insights and accelerate therapeutic development.

Market Opportunities

- Rising healthcare expenditure in emerging nations presents lucrative opportunities. Market players are focusing on these regions for further expansion.
- Untapped potential in agriculture sector for crop improvement, identification of superior varieties through marker assisted breeding offers opportunities for market growth.

Impact of COVID-19 on SNP Genotyping and Analysis Market Growth

The COVID-19 pandemic has significantly impacted the SNP genotyping and analysis market growth. With the imposition of lockdowns and travel restrictions globally, research activities slowed down significantly in 2020. Sample collection and processing witnessed major delays. However, with COVID-19 genome sequencing playing a crucial role in virus tracking and vaccine development, demand for SNP genotyping saw an uptick. Researchers extensively used SNP genotyping tools to identify genetic variations associated with increased susceptibility or severity of COVID-19.

Going forward, genomic research focusing on COVID-19 is expected to drive the market. Pharmaceutical companies are investing in genome-wide association studies to develop therapeutics. Healthcare providers are also employing SNP genotyping to determine high-risk patients. With economies reopening, research activities have resumed albeit with social distancing norms. The market is recovering steadily from pandemic-induced disruptions. Technological advancements enabling high-throughput and automation are supporting market growth. Widespread vaccination drives and herd immunity will help restore pre-COVID demand levels in the coming years.

Regions with Highest Concentration in SNP Genotyping and Analysis Market

North America accounts for the largest share of the global SNP Genotyping And Analysis Market Demand and analysis market in terms of value. This can be attributed to extensive genomic research, advanced healthcare infrastructure and significant funding for genetic/genomic projects in the US and Canada. Presence of leading market players and increasing focus on precision medicine have boosted regional market growth.

Asia Pacific is poised to be the fastest growing region for the SNP genotyping and analysis market owing to improving healthcare spending, rising awareness about genetic testing and expanding R&D activities in countries such as China, India, Japan and South Korea. Growing geriatric population, increasing incidence of chronic diseases and focus toward personalized medicine offer lucrative growth opportunities. In addition, rapid establishment of genomics centers and collaborations with international companies are fueling regional market expansion.

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