Global Genotyping Market: Trends, Innovations, and Forecast
The global genotyping market size is anticipated to reach USD 46.53 billion by 2030, registering a CAGR of 14.59% over the forecast period, according to a new report by Grand View Research, Inc. Factors such as the rising prevalence of genetic diseases, rising awareness and research for personalized medicine, and increasing R&D funding for genomics research is expected to contribute to this growth. Governments in multiple countries are taking various initiatives to provide support and funding to research organizations for personalized medicine, and genotyping research is anticipated to drive the market. For instance, in August 2019, NIH funded USD 4.6 million initial grants to Color, a health technology company, for precision medicine initiatives and development. Similarly, in 2018, the Government of Australia launched the Australian Genomics Health Futures Mission initiative. The government will provide USD 500 million over a period of ...