U.S. Genotyping Market 2030: Pioneering Precision Medicine Through Genetic Insights
U.S. Genotyping Market Size & Trends The U.S. genotyping market size was estimated at USD 6.42 billion in 2023 and is expected to grow at a CAGR of 13.7% from 2024 to 2030. Rising prevalence of genetic disorders & cancer, technological advancements, increased focus on developing personalized medicine, and increasing R&D funding for genomics are some of the key factors driving market growth. However, lack of skilled professionals and less awareness about advanced technological solutions in developing regions may hamper market growth. The U.S. accounted for over 35.8% of the global genotyping market in 2023. The rise in chronic diseases like cancer and genetic disorders is anticipated to fuel the need for diagnostic testing based on genotyping. The World Health Organization reported that there were 19.1 million new cases of cancer worldwide in 2020. Viruses that cause cancer, such as the Human Papilloma Virus (HPV) and Hepatitis B and C Viruses (HBV/HCV),...