Market Trends of High-Resolution Melting Analysis Industry
This section covers the major market trends shaping the High-Resolution Melting Analysis Market according to our research experts:
SNP Genotyping Expected to Witness Strong Growth
SNP genotyping is a technique that analyzes genomic sequence variations. These single-base substitutions are typically detected using real-time PCR, microarrays, or next-generation sequencing (NGS) techniques.
Genomics is widening its range of applications in biotechnology and social science. For instance, the genetic diversity of a population or the heterogeneity of an individual for any hereditary condition with a recessive inheritance pattern can be used to predict the health and conservation of the population. This data can also help determine the effects of evolutionary processes and pick up genetic patterns of a specific population, including human and animal life.
Additionally, the increasing prevalence of new infectious, chronic, and other types of diseases will boost the market's growth. For instance, as per the GLOBOCAN 2020 report that estimated the incidence and mortality of 36 cancers in 185 countries globally, there were an estimated 19.3 million new cases of cancer and about 10 million deaths due to cancer across the world.
Translational research has revolutionized the treatment of different chronic and fatal diseases leading to the rise in demand and acceptance of personalized and precision medicine. These treatment therapies have opened a whole new application area for SNP genotyping as the medicine or therapies are developed per the patient's genomic structure, which requires the analysis of the patient's genome sequence first. The National Cancer Institute of the United States webcasts a report every year that represents the development of a new and advanced approach for analyzing tumors, which holds the potential to bring precision medicine to a broader range of people. Therefore, with the rising genomics and SNP genotyping methods, HRM analysis is expected to increase in the coming years.
North America Expected to Witness Notable Growth
North America is expected to dominate the overall market throughout the forecast period. The market growth is due to the factors such as the presence of key players, the high prevalence of genetic and infectious diseases in the region, and the established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the factors that drive market growth. The United States has the maximum share in this region due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
The American Cancer Society estimated about 1.9 million new cancer cases to be diagnosed in the United States in 2022. More than 16.9 million people in the United States were living with a history of cancer and were alive as of 2022. With the rising number of cancer cases across the country, it is believed that the use of HRM analysis will increase, contributing mainly to market growth.
Various government bodies, such as the National Human Genome Research Institute, United States (NHGRI), have been supporting research related to human genome sequencing while funding research related to the genome's structure, function, and role in health and diseases. Moreover, these organizations support studies on genome research's ethical, legal, and social implications (ELSI). Also, the initiation by several general hospitals and other concerned organizations in the area of preventive disease by genomics will complement the market's growth, as well as newer advances and product launches. For instance, in March 2020, the Massachusetts General Hospital announced the launch of new preventive genomics clinics to assist patients in better understanding, preventing, and predicting diseases using their genetic information.
Therefore, with the increasing focus on genomics, the HRM analysis market is expected to witness substantial growth over the forecast period.
