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Genotyping Assay Market Poised for 22.5% CAGR Growth to USD 285.3 Billion by 2034, Fueled by Advances in Regenerative Medicine and Stem Cell Research | TMR
Rising popularity of DTC genetic testing kits that allow consumers to access genetic information without the need for a healthcare provider, driving market growth. Development of automated and miniaturized genotyping platforms that offer high throughput and ease of use. Growing research focus on rare diseases, leading to the development of specialized genotyping assays for their detection and study. Expanding applications in agriculture for crop and livestock improvement, which could open new revenue streams.
Increased focus on cancer genotyping for precision oncology, enabling better-targeted therapies and improving patient outcomes. Growth in non-invasive prenatal testing, which uses genotyping assays to detect fetal genetic abnormalities. Advancements in regenerative medicine and stem cell research requiring detailed genetic analysis, thereby boosting demand for genotyping assays. The rising number of infectious diseases and pandemics (e.g., COVID-19) has highlighted the need for genotyping assays in tracking pathogen evolution and transmission.
Decreasing costs of sequencing technologies making genotyping more accessible and affordable for research and clinical applications. Expansion of biobanks and genetic databases providing extensive genetic information that can be leveraged for genotyping research and development.
The competitive landscape of the genotyping assays market is characterized by a diverse array of companies ranging from large multinational corporations to specialized biotechnology firms.
These companies compete based on technological advancements, product offerings, geographical presence, pricing strategies, and strategic collaborations. The following companies are well known participants in the genotyping assays market:
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