April 20, 2024
SNP Genotyping And Analysis Market

The Growing Snp Genotyping And Analysis Market Is In Trends By Personalized Medicine

SNP genotyping and analysis involves the use of DNA sequencing methods to determine differences in single nucleotide polymorphisms (SNPs) found in the human genome. It provides useful genetic information for applications ranging from research to clinical diagnosis and personalized medicine. The market has seen considerable growth driven by increasing R&D investments in pharmacogenomics and rising demand for customized treatment plans.

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 applications of SNP genotyping include association studies, linkage analysis, population genetics, drug development and disease risk assessment. It assists in developing customized therapies for cancer and other chronic diseases.

Key Takeaways

Key players operating in the SNP genotyping and analysis market include 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 players are focusing on launches of new genotyping platforms and assays to expand their product portfolios.

The demand for SNP genotyping and analysis is growing significantly with rising focus on personalized medicine. Custom treatment plans tailored to a patient’s genetic profile help improve treatment outcomes. Various genetic tests analyzing SNPs are commercially available for conditions like cancer, cardiovascular diseases and diabetes.

The market is also witnessing expansion in emerging economies of Asia Pacific and Latin America driven by increasing healthcare investments, setting up of genomics research centers and growing disease burden. Numerous collaborations between research institutes and market players are further aiding commercialization of SNP genotyping technologies.

Market Key Trends

Customized medicine driven by pharmacogenomics is one of the key trends shaping the SNP Genotyping And Analysis Market Demand Understanding how genetic variations influence individual responses to drugs enables development of safer and more effective treatment strategies. SNP analysis assists in predicting drug efficacy and identifying patients at risk of adverse reactions. This drives the need for high-throughput, affordable and accurate genotyping platforms. Integration of SNP data with clinical records and imaging also supports drug discovery and precision treatment approaches.

Porter’s Analysis

Threat of new entrants: Significant investment required for R&D and technology infrastructure poses barrier.

Bargaining power of buyers: Large customers can negotiate better pricing and terms.

Bargaining power of suppliers: Suppliers of raw materials and technologies have some control over pricing.

Threat of new substitutes: Emerging alternative technologies for mutation detection pose potential threat.

Competitive rivalry: Intense competition exists among top players for market share and leadership position.

Geographical Regions

North America accounted for the largest share of the SNP genotyping and analysis market in terms of value in 2024. Presence of large healthcare infrastructure, availability of research funding and presence of key market players are major factors for concentration of market in North America.

Asia Pacific is expected to be the fastest growing regional market between 2024 to 2030. Rising healthcare spending, improving research infrastructure, surging outsourcing of clinical trials and growing population are key factors fueling demand in Asia Pacific region. Countries like China and India will spearhead future growth in the region.

Europe represented significant share of the global market in 2024. Large patient pool requiring genotyping for disease diagnosis and personalized treatment drive market in the region. Germany and UK contributed majorly to Europe’s overall value share.

Japan accounted for notable portion of Asia Pacific market share. Increasing focus on precision medicine along with public and private initiatives to deploy precision diagnostics support ongoing expansion of SNP genotyping and analysis market in Japan.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.