Global Single Nucleotide Polymorphism (SNP) Genotyping Market to Reach $11.5 Billion in 2019; Asia-Pacific Region Moving at 24.1% CAGR

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According to new report from BCC Research, the global single nucleotide polymorphism (SNP) genotyping market is expected to grow to more than $11.5 billion by 2019, with a five-year compound annual growth rate (CAGR) of 21.9%.

Global Single Nucleotide Polymorphism
Global Single Nucleotide Polymorphism (SNP) Genotyping Market to Reach $11.5 Billion in 2019

Wellesley, Mass., October 14, 2014 – BCC Research (http://www.bccresearch.com) reveals in its new report, SINGLE NUCLEOTIDE POLYMORPHISM (SNP) GENOTYPING: TECHNOLOGIES AND GLOBAL MARKETS, the global single nucleotide polymorphism (SNP) genotyping market is expected to grow to more than $11.5 billion by 2019, with a five-year compound annual growth rate (CAGR) of 21.9%. The Asia-Pacific region is anticipated to move at a significant 24.1% CAGR.

SNPs, the most widely used form of genotyping around the world, help in understanding the correlations between genotype and behavior exhibited by a living organism. While generally used as a tool for identifying genomic variations, increasing applications of SNPs in numerous areas are expected to drive its future market. However, diagnostics and pharmacogenomics remain the most attractive application areas for the technology.

North America, the largest regional market, is predicted to reach $4.9 billion in 2019 and register a healthy CAGR of $21.8%. Increasing commercial research in animal breeding, livestock, personalized medicine and data services are major contributors to this increase.

However, the Asia-Pacific region, which was valued at just $627.9 million in 2013, is the fastest moving market with the expectation to jump to nearly $2.3 billion by 2019. Consequently, driven by countries like India and China, the global SNP genotyping market is expected to maintain its growth through increasing demand from emerging economies.

"In addition to being used in diagnostics and pharmacogenomics, SNP genotyping has been gaining acceptance in the agriculture industry," said BCC Research biotechnology analyst Vijay Laxmi. "Increasing number of R&D activities for its usage in crops such as wheat, oat, rice and corn/maize is expected to hold immense opportunities for market participants over the next couple of years and is believed to drive the market for SNP genotyping."

SINGLE NUCLEOTIDE POLYMORPHISM (SNP) GENOTYPING: TECHNOLOGIES AND GLOBAL MARKETS provides an overview of the global SNP genotyping market. It includes analyses of global market trends, with data from 2013, estimates for 2014, and projections of CAGRs through 2019.

Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.

About BCC Research

BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we have helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern time), or email information(at)bccresearch(dot)com.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49-2 Walnut Park, Wellesley, MA 02481, Telephone: (+1) 781-489-7301; Email: editor(at)bccresearch(dot)com as the source and publisher. Thank you.

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Steven Cumming
BCC Research
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