Global Genotyping Market boost market growth at a 22.5% CAGR by 2023

Global Genotyping Market: The increasing demand for personalized medicines along with rising in healthcare research and development activities are projected to boost market growth at a 22.5% CAGR by 2023

Genotyping is a procedure commonly used in healthcare and life sciences research activities. Genotyping is a genetic mapping of an organism which includes DNA sequencing and analysis of sequenced DNA. The surge in cases of genetic disorders, increasing demand for personalized medicines, and technological advancement are the factors that are propelling the growth of the market. Additionally, increasing R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, in January 2018, Illumina, Inc. launched iSeq 100 Sequencing System in the market, the product contains sequencing by synthesis (SBS) along with the complementary metal-oxide-semiconductor (CMOS) detection technology which is easy to use and compact product.

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The unfavorable reimbursement policies, the dearth of technicians, and continues change in technology are likely to hinder market growth during the forecast period.

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