Albany, NY -- (SBWIRE) -- 08/15/2016 -- SNP genotyping and analysis is used mainly as a research tool to identify genomic variations that lead to different morphological traits and can determine the health and ancestry of plants and animals. The growth of the market is attributed mainly to the increasing demand from diagnostic research, pharmacogenomics and animal breeding along with technological drivers such as reducing cost of sequencing and introduction of innovative technologies. There is an increasing opportunity in developing and developed countries for genotyping services which will be within the reach of a common man and that will represent several billion dollars worth of business since people want to understand their genetic make-up in terms of aesthetic awareness (height, weight, obesity) or for serious diseases (diabetes, cancer, cardiovascular and others).

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The market products are internally affected by power of substitution since there are around 8 to 10 different efficient techniques to carry out SNP genotyping such as TaqMan, SNPlex, Microarray, MALDI-TOF etc. With the completion of the Human Genome Project, over 2 million SNP's have been added to global databases which in turn have initiated a series of research and development projects to understand potential of developing diagnostic tests through rapid genotyping techniques. A considerable amount of revenue is spent on research to developing diagnostic products similar to companion diagnostics which would enable to give us a preview of how a genome would unfold as an individual grows older. There is a high intensity of research in food crops such as rice, wheat, oats, corn, maize and other grasses. SNP genotyping in agriculture gained acceptance long before other applications. The GeneChip Rice 44K array offered by Affymetrix is one of the most popular platforms for rice genotyping which identifies variants that impact yield. Fluidigm's SNPtype assays have been utilized by International Rice Research Institute which holds the world's largest ex-situ collection of rice germplasm and plays a very large role in maintaining this repository.

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The global market for SNP genotyping and analysis is expected to reach USD 9,485.2 million by 2019, up from USD 2,385.2 million in 2012, growing at a CAGR of 21.8% throughout the forecast period. Geographically, North America represents the largest market because of origin of several SNP technologies, awareness and increasing demand from pharmacogenomics and animal breeding sectors. The Asia-Pacific region is expected to record the highest CAGR of 23.1% during the forecast period as improving healthcare infrastructure, increasing investments by players in emerging economies such as China and India, and a large untapped research facilities segment will also boost growth of this market segment. Life Technologies Corporation, Illumina Inc., Affymetrix Inc, Fluidigm, Sequenom and Roche are some of the key vendors operating in this market.