Genotyping Assay Market is projected to reach $ 31.9 billion | CAGR of 22.0%

The increasing incidence of genetic diseases and rising awareness of personalized medicine, growing importance of genotyping in drug development, and the increasing demand for bioinformatics solutions in data analysis are also expected to promote market growth in the coming years.

MarketsandMarkets forecasts the Genotyping Assay market to grow from USD 11.8 billion in 2018 to USD 31.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 22.0% during the forecast period.

The global bioinformatics market is expected to account for Usd 7,063.7 billion in 2018. It is expected to reach Usd 13,901.5 billion by 2023, at a Cagr of 14.5% during the forecast period.