SNP Genotyping Market Size 2021: Statistics Outlook Trends, Latest Technology, Top Company Profiles, CAGR Values & Forecast
Growing mindfulness amongst scientists and improved initiatives pertaining novel drug discovery for several diseases has been constantly steering adoption of SNP genotyping as vital biomarkers.
Dallas, United States – April 29, 2021 /MarketersMedia/ —
Single Nucleotide Polymorphisms also known as SNP genotypes are essentially a genetic variation detected in living organisms, adequately used to perceive uniqueness of DNA building blocks such as nucleotide. These SNPs are most commonly used to identify disease rendering genes and thus SNPs find ample usability as robust biological markers.
In most cases, SNPs are mainly inert with no palpable bearing on organism anatomical functions. However, they have remained crucial in monitoring overall health. Owing to their unique property of biological markers, SNP genotyping is one of the most preferred means to pursue drug discovery. Single nucleotide polymorphisms (SNP) genotypes are increasingly used to understand individual response to certain drug category are even the reaction caused by certain toxins and other environmental factors.
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Advances in Drug Development Initiatives to Uptick Adoption and Growth
Additionally, at the backdrop of rising prevalence of diseases globally, drug development as a whole is gaining center stage prominence, thus furthering adoption of advanced biomarkers to predict the chances of disease occurrences and inheritance. Advanced research endeavors towards novel drug discovery to combat fatality of certain chronic ailments such as cardiac disorders and cancer are anticipated to lend rife growth opportunities in global SNP genotyping market in forthcoming years.
In tandem with precision medicine development for humans, SNP genotyping is also crucial to agricultural and poultry yield as well as in developing advanced feedstock. However, lack of adequate funding to remain a potential growth deterrent in global SNP genotyping market in forthcoming years, predicts our in-house research analyst.
Several international studies such as genome-wide association studies (GWASs) have affirmed the potency of SNPs in disease identification and their likelihood to genetic structure of both commonly occurring diseases as well as chronic ailments. As individual reaction to certain drug types vary considerably, advances in precision medicine is gaining tremendous momentum in the coming years, thus offering amplifying growth prospects in global SNP Genotyping Market.
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Further in SNP genotypes market, growing mindfulness amongst scientists and improved initiatives pertaining novel drug discovery for several diseases has been constantly steering adoption of SNP genotyping as vital biomarkers. A recent ongoing research endeavor to evaluate the efficacy of SNP genotyping in rheumatoid arthritis (RA) has gained foreground. The study is aimed at evaluating the role of SNP genotyping in reacting to TNF inhibitors. The study incorporates a total of 12 SNP genotypes. Studies as such further mark substantial breakthroughs in the role of SNP genotyping in drug discovery endeavors of chronic ailments, thus manifesting remunerative returns in SNP genotyping market.
Pharmaceutical End Use Application to Remain Most Prominent
On the back of perpetual advances in SNP genotyping, several market participants are investing rigorously to achieve headway in therapeutics and drug development. In this regard, SNP Therapeutics an offshoot of NCRC is specifically aimed at identifying genetic variation that cause single nucleotide polymorphisms in living organisms. Vying on this concept, this startup designs and develops personalized medicinal food preparations to address metabolic deficiencies of patients. Just recently, NCRC has awarded SNP Therapeutics with a whopping $80,000 to develop advanced SNP genotyping aiding precision food customization targeting chronic disease patients. The company primarily envisions to develop high end medical supplements for prenatal care. With such developments in place, SNP genotyping market is anticipated to remain overtly remunerative in the coming years.
Further in SNP genotyping based precision medicine, the FBI has sent a green signal for a new SNP genotype identification process developed by Verogen. The technology is likely to aid in efficient sample tracking of patients, thus further strengthening diagnostics potential, crucial for understanding diseases and their eventual therapeutics. Verogen employs 230 SNP genotyping markers to develop a complete profile from DNA samples. These ongoing strides are anticipated to reflect favorably on the onward growth trajectory of global SNP genotyping market in the near future.
North America to remain Atop Global Revenue Maximization, APAC to Follow Suit
Diverse government initiatives and policies favoring adequate diagnostics and therapeutics of life threatening and chronic ailments, continue to leverage large scale adoption and concomitant growth in global SNP genotyping market. Additionally, the region also boasts of sophisticated R&D facilities as well as high end technology integration that further reinforce growth attributes in global SNP genotyping market. Additionally, precision medicine development in North America is also gaining ample momentum, thus initiating adoption. Closely following suit, on similar attributes, several countries across APAC region are likely to mimic growth in global SNP genotyping market as the region is also touted to have relentless unmet medical concerns. The growth trajectory is also likely to be accompanied by improved mindfulness on advanced sequencing techniques. Additionally, industry behemoths in global SNP genotyping market are gradually diversifying their stance with substantial geographical expansion across emerging countries.
Further in the course of the report on global SNP genotyping market, readers are also presented with elaborate understanding on competition spectrum, highlighting some of the prominent industry forerunners. Each of the mentioned players has been assessed meticulously and an in-depth summary of their winning business decisions and marketing tactics have been cited to derive insightful details on result oriented business tactics and strategies to ensure sustainable revenue models through the forecast period, allowing new as well as established players in global SNP genotyping market to ensure adequate profits and seamless market penetration on the back of stern competition. Some of the prominent players in global SNP genotyping market are cited under:
SNP Genotype Market Key Players
Douglas Scientific LLC
Life Technologies Corp.
SNP Genotypes Market Key Movements
Large scale prevalence of chronic ailments often deteriorating quality of life amongst patients besides resulting in fatality entices reliance on novel sequencing biological markers such as SNP genotypes
Advances in precision medication as well as precision nutrition, tailored to address unique patient concerns fuels growth
Technological integration such as AI and Machine Learning to pave further growth opportunities
Industry veterans such as Verogen employs SNP genotyping for reliable patient sampling favoring accurate diagnostics
Start-ups such as SNP Therapeutics likely to flourish with high end funding schemes
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Name: Ryan Johnson
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