What Has Been The Evolution of the Single Nucleotide Polymorphism (SNP) Genotyping Market in Recent Years?
The single nucleotide polymorphism (snp) genotyping market has seen considerable growth due to a variety of factors.
•In recent times, the market size of single nucleotide polymorphism (SNP) genotyping has seen a significant surge. This market is projected to expand from $10.3 billion in 2024 to $12.37 billion in 2025, growing at a compound annual growth rate (CAGR) of 20.1%.
This growth trajectory during the historic period is largely driven by factors such as the surge in genomics research, an increase in genetic disorders, the rise of personalized medicine, expansion of the pharmaceutical industry, and a higher demand for molecular diagnostics.
What Is the Forecasted Market Size and Growth Rate for The Single Nucleotide Polymorphism (SNP) Genotyping Market?
The single nucleotide polymorphism (snp) genotyping market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for single nucleotide polymorphism (SNP) genotyping is projected to witness swift expansion in the upcoming several years. By 2029, it is forecasted to increase to $24.95 billion with a CAGR of 19.2%.
The market's growth within the projection period is principally due to increasing uses in disease research, the surge in the necessity for precision medicine, expanded biobanking movements, substantial increase in genetic tests, and its growing implementation in agriculture for enhancing crops. Key trends during the projection period encompassing a rising utilization of next-generation sequencing (NGS), increasing demand for SNP genotyping in pharmacogenomics, the unveiling of direct-to-consumer genetic tests, an emphasis on automation, and advanced-genotyping platforms.
What Factors Are Driving Growth In The Single Nucleotide Polymorphism (SNP) Genotyping Market?
The single nucleotide polymorphism (SNP) genotyping market is predicted to grow, spurred on by the mounting challenge of chronic health issues. These chronic ailments last for a duration of a year or more, requiring consistent medical intervention and potentially interfering with daily activities. Single-nucleotide polymorphism (SNP) genotyping plays a vital role in pinpointing genetic susceptibilities and paving the way for personalized medicine, bearing in mind the escalating prevalence of chronic diseases. For example, data from the Australian Institute of Health and Welfare, a governmental agency in Australia, in June 2024 shows an increase in death count associated with chronic health conditions, ascending from 459 deaths per 100,000 people in 2021 to 490 deaths per 100,000 people in 2022. Thus, the ever-growing presence of chronic conditions stimulates the expansion of the single nucleotide polymorphism (SNP) genotyping systems market.
What Are The Main Segments Of The Global Single Nucleotide Polymorphism (SNP) Genotyping Market?
The single nucleotide polymorphism (SNP) genotyping market covered in this report is segmented –
1) By Product: Consumables, Instruments, Services
2) By Technology: TaqMan SNP Genotyping, Mass Array SNP Genotyping, SNP Gene Chip Arrays, Other Technologies
3) By Application: Animal Genetics, Plant Improvement, Diagnostic Research, Pharmaceuticals And Pharmacogenomics, Agricultural Biotechnology, Other Applications
Subsegments:
1) By Consumables: Reagents And Kits, DNA Probes, Microarrays
2) By Instruments: SNP Genotyping Platforms, Sequencers, PCR Machines
3) By Services: SNP Genotyping Services, Data Analysis Services, Consultation Services
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What Emerging Trends Are Influencing The Growth Of The Single Nucleotide Polymorphism (SNP) Genotyping Market?
The rise of technological solutions is identified as a significant trend in the single nucleotide polymorphism (SNP) genotyping market. To retain their market standing, top corporations in the SNP genotyping industry are offering cutting-edge, technologically advanced solutions. For instance, in May 2022, Neogen Corporation, an American company offering solutions for the agriculture, food safety, animal protein, food, and beverage sectors, in conjunction with Gencove, an American fleet of sequencing solutions, unveiled InfiniSEEK. This groundbreaking tool represents the first comprehensive genome and genotyping resource for cattle breeders. The thorough validation of InfiniSEEK demonstrates that low-pass genome-wide sequencing boasts concordance of over 99% when compared to deep whole-genome sequencing, and can even provide superior clinical-grade precision in certain focus areas.
Who Are the Key Players in the Single Nucleotide Polymorphism (SNP) Genotyping Market?
Major companies operating in the single nucleotide polymorphism (SNP) genotyping market include:
• Thermo Fischer Scientific Inc.
• Danaher Corporation
• Roche Diagnostics Corporation
• GE HealthCare Technologies Inc.
• Eurofins Genomics LLC
• Beckman Coulter Inc.
• Bio-Rad Laboratories Inc.
• Qiagen N.V.
• Sigma-Aldrich Corporation
• Agilent Technologies Inc.
• PerkinElmer Inc.
• Illumina Inc.
• Promega Corporation
• GenScript Biotech Corporation
• Integrated DNA Technologies Inc.
• LGC Ltd.
• Sequenom Inc.
• Fluidigm Corporation
• Agendia Inc.
• Nugen Technologies Inc.
• BioChain Institute Inc.
• Standard BioTools Inc.
• Oxford Gene Technology
• Affymetrix Inc.
• PREMIER Biosoft International Inc.
• GenoLogics
• Rubicon Genomics Inc.
• Xcelris Genomics
• Douglas Scientific LLC
• Golden Helix Inc.
What Is The Most Dominant Region In The Single Nucleotide Polymorphism (SNP) Genotyping Market?
North America was the largest region in the single nucleotide polymorphism (SNP) genotyping market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the single nucleotide polymorphism (SNP) genotyping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
