Report : South & Central America Genotyping Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product and Services (Instruments, Reagents and Kits, Bioinformatics, and Genotyping Services), Technology [Microarrays, Capillary Electrophoresis, Sequencing, Polymerase Chain Reaction (PCR), Matrix-Assisted Laser Desorption/Ionization-Time of Flight (Maldi-Tof) Mass Spectrometry, and Others], Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Animal Genetics, Agricultural Biotechnology, and Others), and End User (Pharmaceutical and Biopharmaceutical Companies, Diagnostic and Research Laboratories, Academic Institutes, and Others)
At 16.1% CAGR, the South & Central America Genotyping Market is speculated to be worth US$ 1,889.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America genotyping market was valued at US$ 772.17 million in 2022 and is expected to reach US$ 1,889.89 million by 2028, registering an annual growth rate of 16.1% from 2022 to 2028. The use of genotyping in drug development for genetic and rare diseases and rising focus on personalized medicine are the critical factors attributed to the market expansion.
Genotyping compares a DNA sequence to another sample or a reference sequence to discover variations in genetic complement. It detects single-nucleotide polymorphisms (SNPs), which are minor differences in genetic sequence within the population. The human genome has about 660 million SNPs, making them the most prevalent kind of genetic variation. They can explain features such as eye color and hereditary disorders such as cystic fibrosis and sickle cell anemia and serve as indicators for developing complicated diseases such as cancer, diabetes, and Alzheimer's. The introduction of high-throughput genotyping technologies has greatly advanced our understanding of the genetic components of complex disorders, such as T2D. Additionally, by comparing polymorphisms in two distinct populations (one healthy and one diseased), genome-wide association studies (GWAS) can uncover links between SNPs and common illness risk. GWAS can begin to untangle the molecular mechanisms underlying disease states by finding probable causative variables risk stratification. Single-celled organisms, such as bacteria, even have SNPs. SNP genotyping can discriminate between microorganism isolates and might even be accustomed to characterizing antibiotic resistance strains. SNP-based strain detection has relevance in each clinical and pharmaceutical analysis and has been used to study the spread of infectious diseases in humans. Over the last decade, next-generation sequencing (NGS) technology has enabled simultaneous testing of multiple disease genes, from targeted gene panels to exome sequencing (ES) and genomic sequencing (GS). GS is quickly becoming a practical first-stage test as costs decrease and performance improves. More and more studies show that GS can detect an unprecedented range of pathogenic abnormalities in a single laboratory. GS has the potential to provide patients with unbiased, rapid, and accurate molecular diagnostics that transcend diverse clinical indications and complex conditions. Therefore, the use in drug development for genetic and rare diseases will act as one of the key factors driving the growth of the genotyping markets.
On the contrary, high cost of equipment and shortage of skilled professionals required for genotyping process hurdles the growth of South & Central America genotyping market.
The South & Central America genotyping market, based on product and services, has been segmented into instruments, reagents and kits, bioinformatics, and genotyping services. The reagents and kits segment held 35.8% market share in 2022, amassing US$ 276.13 million. It is projected to garner US$ 693.51 million by 2028 to expand at 16.6% CAGR during 2022–2028.
The South & Central America genotyping market, based on technology is segmented into Microarrays, Capillary Electrophoresis, Sequencing, Matrix-Assisted Laser Desorption/Ionization-Time of Flight (Maldi-ToF) Mass Spectrometry, Polymerase Chain Reaction (PCR), and others. The Polymerase Chain Reaction (PCR) segment held 27.8% market share in 2022, amassing US$ 214.32 million. It is projected to garner US$ 544.54 million by 2028 to expand at 16.8% CAGR during 2022–2028.
The South & Central America genotyping market, based on application is segmented into pharmacogenomics, diagnostics and personalized medicine, animal genetics, agricultural biotechnology, and others. The diagnostics and personalized medicine segment held 32.5% market share in 2022, amassing US$ 251.06 million. It is projected to garner US$ 619.69 million by 2028 to expand at 16.3% CAGR during 2022–2028.
The South & Central America genotyping market, based on end user is segmented into pharmaceutical and biopharmaceutical companies, diagnostic and research laboratories, academic institutes, and others. The diagnostic and research laboratories segment held 46.3% market share in 2022, amassing US$ 357.85 million. It is projected to garner US$ 898.58 million by 2028 to expand at 16.6% CAGR during 2022–2028.
Based on country, the South & Central America genotyping market is categorized into Brazil, Argentina, and the rest of South & Central America. Our regional analysis states that Brazil captured 65.7% market share in 2022. It was assessed at US$ 507.05 million in 2022 and is likely to hit US$ 1,264.53 million by 2028, exhibiting a CAGR of 16.5% during the forecast period.
Key players dominating the South & Central America genotyping market are BioTek Instruments, Inc.; F. Hoffmann-La Roche Ltd.; Illumina, Inc.; Integrated DNA Technologies, Inc.; MERCK KGaA; QIAGEN; and Thermo Fisher Scientific Inc; among others.
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