Albany, NY -- (SBWIRE) -- 05/27/2014 -- According to a new market report published by Transparency Market Research "SNP Genotyping and Analysis Market (GeneChips, Taqman Allelic Discrimination, Pyrosequencing, AB SNPlex, Sequenom MassARRAY MALDI-TOF): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global SNP genotyping and analysis market was valued at USD 2,385.2 million in 2012 and is expected to grow at a CAGR of 21.8% from 2013 to 2019, to reach an estimated value of USD 9,485.2 million by 2019.
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SNPs are the most commonly occurring genetic mutations that can be observed in a genome. These are responsible for a person's traits that include strengths and weaknesses. These variations also lead to changes in crop yield, meat and dairy yield among several other factors. The report evaluates the SNP genotyping market which is an aggregate of three facets, instrumentation, reagents or consumables, and services. After the Human Genome Project was concluded a need for faster and cheaper sequencing methods were realized that led to revolutionary changes and eventually ended in vertical drop in sequencing costs. Increasing global gene banks and databases have initiated a series of research and development projects to understand potential of developing diagnostic tests through rapid genotyping techniques.
The market can be perceived to be divided into instruments, reagents or consumables and software and services. Since several technologies in the market are still in the nascent phase, the instruments segment accounts for the largest share as of today but this is expected to change as larger quantities of consumables are used in coming years. The market growth for older systems rises mainly from reagents and consumables as there is low involvement of specialized instrumentation or technologies. The market is expected to decrease further as efforts are initiated to introduce new technologies in these regions and phase out the slower and less efficient methods that are time consuming.
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North America accounted for the largest market share in 2012 amongst other regions that included Europe, Asia-Pacific and Rest of the World. Europe's unstable economy has continued to torment the genomics market which SNP genotyping is a part of. Increasing demand from services, animal breeding and livestock, decreasing cost of products and services should encourage the growth of the market in coming years. Asia-Pacific and several countries in RoW region are expected to hold the largest potential in forecast period in terms of revenue. The competitive landscape is oligopolistic. There are leaders in individual market segments, yet in terms of overall popularity; Life Technologies Corporation, Illumina Inc., Affymetrix Inc, Fluidigm, Sequenom and Roche are established to be the key vendors operating in this market.
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