The global genotyping market is expected to reach USD 37.1 billion by 2024 according to a new report by Grand View Research, Inc. The increasing demand for genotyping tests to evaluate drug efficacy and safety is one of the major drivers for the genotyping market. Genotyping tests are widely used in selecting a highly responsive, patient population subset against a specific drug candidate before initiating clinical trials. The rising need for affordable genotyping services coupled with the high demand for personalized medicines is also expected to propel the market growth.
Major pharmaceutical companies are collaborating with diagnostic manufacturers for the development of novel biomarker-based therapeutics. Significant opportunities for the growth of this market are anticipated due to the above-mentioned collaborative initiatives.
The increasing awareness for prenatal genetic testing pertaining to early detection of chromosomal abnormalities in the high-risk population, the introduction of technological advancements, and the increasing R&D funding are the other factors accentuating the market growth over the forecast period.
Browse full research report on Global Genotyping Market: http://www.grandviewresearch.com/industry-analysis/genotyping-market
Further key findings from the study suggest:
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Grand View Research has segmented the genotyping market on the basis of product, technology, application, and region:
Genotyping Market Product Outlook, by Revenue (USD Million, 2013 - 2024)
Genotyping Market Technology Outlook, by Revenue (USD Million, 2013 - 2024)
Genotyping Market Application Outlook, by Revenue (USD Million, 2013 - 2024)
Genotyping Market Regional Outlook, by Revenue (USD Million, 2013 - 2024)
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-genotyping-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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