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SNP Genotyping and Analysis Market Genotyping Large Contributing Segment

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Pooja Khodke
SNP Genotyping and Analysis Market Genotyping Large Contributing Segment

The global SNP Genotyping and Analysis Market is estimated to be valued at US$ 20.2 Billion in 2023 and is expected to exhibit a CAGR of 21.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


SNP genotyping and analysis is a technique used to detect variations in DNA sequences known as single nucleotide polymorphisms or SNPs. SNP analysis helps determine genetic variations between individuals and used in various research areas such as drug development, cancer detection, and ancestry tracing. The technique helps identify genetic variations associated with disease risks and drug responses in individuals.


Market key trends:


One of the key trends in the SNP genotyping and analysis market is the increasing focus on pharmacogenomics. Pharmacogenomics is the study of how genetic makeup affects individual variability in drug response. Analyzing genetic variations through SNP genotyping helps in understanding how patients respond to specific medications, doses needed, and risks of adverse reactions. This enables more effective and safer medication practices through personalized drug selection and dosing based on a person's genetic profile.


Segment Analysis


The global SNP genotyping and analysis market is dominated by the genotyping by sequencing sub segment. This is due to increasing adoption of NGS technologies for large-scale genotyping applications. NGS allows detection of millions of SNPs simultaneously with high accuracy and throughput.


Key Takeaways


The global SNP Genotyping And Analysis Market size is expected to reach US$ 20.2 Billion in 2023, registering a CAGR of 21.9% over the forecast period, due to increasing applications in pharmacogenomics and personalized medicine.


Regional Analysis


The US holds the largest share in the global SNP genotyping and analysis market, owing to heavy investments in genetic research by prominent players and research institutions. The Asia Pacific region is expected to witness the fastest growth over the forecast period due to rising R&D funding and increasing focus on genetic research in countries such as China and India.


Key Players


Key players operating in the SNP genotyping and analysis market are Agilent Technologies Inc., F. Hoffmann-La Roche Ltd, Nucleome Informatics Private Limited, Azenta Life Sciences, Bio-Rad Laboratories Inc., Danaher Corporation, Douglas Scientific LLC, AllGenetics & Biology SL, Illumina Inc., Life Technologies Corp., Consultative Group on International Agricultural Research, Avance Biosciences, Genotypic Technology Pvt Ltd, Xelect Ltd, Taconic Biosciences, Inc., Luminex Corp., Promega Corporation, CD Genomics, Synbio Technologies, Thermo Fischer Scientific Inc., Sequenom, PREMIER Biosoft, Fluidigm Corporation, Novacyt, Twist Bioscience, Regeneron Pharmaceuticals, Inc, NRGene, and LGC Biosearch Technologies, among other prominent players.


Read More :  https://www.newsstatix.com/snp-genotyping-and-analysis-market-is-estimated-to-witness-high-growth-owing-to-increasing-personalized-medicine-applications/

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