Market Size of SNP Genotyping Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 21.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
SNP Genotyping Market Analysis
The SNP Genotyping Market is expected to register a CAGR of 21% over the forecast period.
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.
