CHICAGO , June 19, 2024 /PRNewswire/ -- The genotyping assay market is poised for substantial growth, projected to rise from USD 19.4 Billion in 2024 to USD 37.1 Billion by 2029, at a CAGR of 13.
8%. Key drivers include advancements in technology, declining costs of DNA sequencing, and increased prevalence of genetic diseases. Genotyping's pivotal role in drug discovery, development, and personalized medicine further fuels market expansion.
Opportunities abound with burgeoning demands in plant and animal genome analysis, national sequencing initiatives, and expanding application areas. However, cost constraints related to equipment may hinder growth to some extent. Leading market players include Thermo Fisher Scientific Inc.
, Illumina, Inc., Danaher Corporation, QIAGEN, and others, distinguished by their extensive product portfolios, global presence, and strategic collaborations to maintain competitive edge and drive innovation in the market..