The COVID-19 pandemic significantly impacted the SNP Genotyping market. Detecting SARS-CoV-2 variants with SNP genotyping is boosting market growth. For instance, a research study by Helen Harper et al., published in PLOS ONE Journal in February 2021, found that PACE (PCR Allele Competitive Extension) SNP genotyping assays provide useful viral genotype identification for SARS-CoV-2 positive samples. The advantage of PACE-RT SNP genotyping technology is that the SNP panel can be modified at a low cost on a regular basis. With the emergence of several COVID-19 variants, PACE-RT SNP genotyping approach could provide a useful tool for epidemiological surveillance. Owing to the increasing genotype research and development activities and bioinformatics in the development of diagnostic tools or effective therapeutics for COVID-19, the market is likely to continue its significant growth rate during the forecast period.
The major factors fueling the market growth are the miniaturization of equipment and instruments and increased multiplexing capacity leading to increased application. SNP technologies are extensively utilized for detection and are beneficial in the etiology of several human diseases, such as cancer, cardiovascular, Alzheimer's, and asthma, among others. For instance, according to a study published by Elsevier in August 2021, SNP-based methods were compared and evaluated regarding their potential for integration in a miniaturized device. Regarding SNP-based methods, two approaches were explored in this study: real-time allele-specific PCR and HRM analysis. Allele-specific PCR was the best option for miniaturization since the results condensed to a presence/absence type of answer for the target allele, and it showed the best results for both pure and mixed varieties. Therefore, rising applications of SNPs in several life sciences and biotechnology aspects are driving the SNP genotyping market.
Furthermore, the launch of new biological products, acquisitions, collaborations, and regional expansions are some of the strategic initiatives being taken by the companies to maintain stability in the market. For instance, in October 2021, NRGene launched Soy SNPro. This is the first product in a line of optimized pre-designed SNP sets for genotyping (DNA tests) of various crops that will significantly improve breeding program efficiency. This is likely to fuel market growth in the near future.
Therefore, the factors mentioned above are collectively responsible for the growth of the studied market over the forecast period. However, the lack of standardization in SNP processes and privacy concerns posing a threat to broad technology applications are the major factors hindering market growth.
Key Market Trends
Pharmacogenomics Segment Expected to Witness High Growth Over the Forecast Period
Pharmacogenomics is a field of research that studies how a person's genes affect how someone responds to medications. The significant share of pharmacogenomics is primarily due to the increasing pipeline for personalized medicine and novel drug delivery systems, which extensively exploit SNP in genetic materials for drug development applications. For instance, according to an article published by MDPI, in 2021, the potential of the Estonian personalized medicine initiative was boosted by the Estonian biobank with over 200,000 participants. In the longer term, the plan is to genotype most of the population with a customized genotyping chip that includes Estonia-specific genetic variation, allowing the development of more precise genetic instruments for medical decision-making. Additionally, according to a CDC update, in April 2022, an examination of the Pharmacogenomics database showed significant translation and implementation science growth in the last decade. The number of published studies in these areas increased to 261 in 2021.Furthermore, according to an article published by Frontiers Media SA in August 2021, SNP-based Pharmacogenomics testing was the most frequently used test in the clinical Pharmacogenomics profiling of individuals. Also, specific genotyping methods mainly utilize different types of SNP-based genotyping approaches, including real-time PCR with TaqMan probes and restriction fragment length polymorphism (RFLP) technique, and gene panel-based genotyping methods such as ADME arrays are used in everyday clinical practice.
Hence, the growing demand for pharmacogenomics is expected to propel the SNP genotyping market in this segment.
North America Expected to Dominate the SNP Genotyping Market Over the Forecast Period
Within North America, the United States is expected to witness significant growth. The continuously increasing burden of chronic diseases in the United States is expected to create demand for genotyping tools and services. For instance, according to the National Center for Chronic Disease Prevention and Health Promotion's Article updated in January 2021, 6 out of the 10 adults in the United States had a chronic disease, and 4 in 10 adults had two or more chronic diseases. Genotyping techniques can be used for the early diagnosis and treatment of chronic diseases. The high burden of chronic diseases is expected to boost the market growth.Also, in the United States, the healthcare industry is deeply invested in applying innovative solutions, such as genotyping, in enhancing the development of advanced diagnoses for diseases to help in patient care. For instance, according to data from the National Institutes of Health (NIH), cancer genomics received increasingly higher funding. Up to USD 1,116 million in financing was given to it in total in 2021. The abundance of available money is a significant factor driving the market's growth.
Thus, the factors mentioned above are expected to witness significant growth over the forecast period.
Competitive Landscape
The SNP genotyping market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international and local companies that hold significant market shares and are well known, including Agilent Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Douglas Scientific LLC, Illumina Inc., Life Technologies Corp., Luminex Corp.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Douglas Scientific LLC
- Illumina Inc.
- Life Technologies Corp.
- Luminex Corp.
- Promega Corporation
- Thermo Fischer Scientific Inc.
- Sequenom
- PREMIER Biosoft
- Fluidigm Corporation
- LGC Group
Methodology
LOADING...