Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to Transparency Market Research's new market research report, titled 'SNP Genotyping and Analysis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019', SNP genotyping is an integral part of genomics, which represents an important portion of the overall genotyping market. Single nucleotide polymorphism (SNP) represents the most common type of mutation in genomes of all life forms.
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The recent growth of the SNP genotyping and analysis market is attributed to the increasing demand from pharmacogenomics, diagnostic research, and animal breeding. According to this study report by Transparency Market Research, the global SNP genotyping and analysis market is expected to grow rapidly in the next four years. By 2019, the market will attain a value of USD 9,485.2 million, up from a value of USD 2,385.2 million in 2012. Due to technological drivers such as the introduction of innovative technologies and decreasing cost of sequencing, the market is expected to grow at a 21.8% CAGR between 2013 and 2019.
In the coming years, the genotyping and analysis market is likely to experience an increasing opportunity in developed and emerging countries because people avidly want to understand their genetic makeup in terms of aesthetic awareness (including height, obesity, and weight) and learn about their chances of acquiring serious diseases such as cancer, diabetes, cardiovascular diseases, and others.
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The study report provides an in-depth analysis of the market on the basis of past performance, current scenario, and future prospects of the SNP genotyping and analysis market across the globe. The information provided in the report is prepared based on an extensive study of the SNP genotyping and analysis market, offering qualitative and quantitative analysis of this industry. It is an attempt to understand the technology, applications, and geographical distribution of the SNP genotyping market.
The SNP genotyping and analysis market includes products, consumables, and instruments, such as arrays and reagents, along with genotyping services. The report states that a considerable amount of revenue is spent on the research and development of SNP genotyping diagnostic products. These products provide the users a preview of how a genome would unfold as an individual grows older.
On the basis of technology, SNP genotyping and analysis is categorized into SNP by pyrosequencing, Mass ARRAY MALDI-TOF, SNP GeneChips and microarrays, Taqman allelic discrimination, AB SNPle, and others.
By application, the market includes agriculture biotechnology, diagnostic research, pharmacogenomics and pharmaceuticals, and breeding and animal livestock as the main segments of the global SNP genotyping and analysis industry.
Through technology and applications, the study report attempts to project the expected outcome with regard to growth and market size, based on the impact of the current situation in this market.
Geographically, North America is the leading region in the global SNP genotyping and analysis market. North America took up the largest share in the global SNP genotyping and analysis market in 2012 due to the early origin of SNP technologies in this region along with the increasing awareness and demand for SNP genotyping and analysis from the pharmacogenomics and animal breeding sectors. However, by 2019, the market in Asia Pacific is likely to grow and hold the highest share in the global SNP genotyping and analysis market, in terms of revenue.
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Source:Transparency Market Research