The Microarray Analysis Market, nucleus in genomics and molecular biology research, is subject to evolution in form of marketing strategies in maintaining market share positioning of companies that are offering microarray technologies and services. The main tactic to be used is the constant updating and improvement of microarray platforms. Being responsive to the researchers and clinicians’ ever-changing demands, companies commit substantial resources to research and development to roll out newer microarray technologies with higher sensitivity, speedier processing times, and wider genomic coverage. The companies focus on improving microarray instruments to be differentiated in the marketplace and to attract large shares of the customers who are looking for the most updated tools for gene expression profiling, genotyping and genome analysis.
Strategic alliances and agreements have a central place in determining the Microarray Analysis Market shares. One of the reasons why the biotechnology industry is growing rapidly is because of the complexity of genomic research and the interdisciplinary nature of molecular biology, therefore, companies are partnering with research institutions, pharmaceutical firms and other industry players. These collaborations provide the background for the exchanging of resources, experience and knowledge which in effect result into the enhancement of the microarray technology. Through the utilization of collective forces, corporations make themselves market leaders in terms of microarray product lines providing features that target the most important problems of researchers in diverse biological fields.
Pricing strategies are a crucial determinant of relative market share for Microarray Analysis Market. Companies price their microarray systems in various ways, taking into account parameters like complexity of the system and throughput, availability of special features, and overall benefit to researchers in terms of cost and effectiveness. Some companies make their high-throughput microarray system compete in a premium pricing with a superior performance as compared to others, whereas it may be more affordable price is chosen for the system to attract more clients. Striking the right balance between the affordability and the perceived value of the new microarray technologies is what companies should focus on, so that they would be able to capture a big market share and to meet the diverse budget constraints of researchers.
Efficient marketing and distribution patterns are basic in augmenting market share in Microarray Analysis Market. Companies spend a lot on their reliable marketing strategies to promote their microarray solutions in front of researchers, lab scientists, and genomics experts. Constructing a solid brand presence through strategically planned promotional acts leads to developing trust and credibility. Also, such an effort will ensure that the microarray technologies are widely available through the distribution network to the many research institutions, pharmaceutical companies as well as clinical laboratories.
The Microarray Analysis Market is expected to reach USD 4649.01 Million by 2030 at 6.90% CAGR during the forecast period 2022-2030. The microarray analysis market is expected to witness tremendous growth during the forecast period. Microarray analysis is a molecular biology technique that uses microchips containing attached short DNA segments which are used for the analysis of gene expression on a large scale. This enables medical practitioners to decide the most effective treatment for individual patients. Microarray analysis can be used in various experiments such as epigenetics, genotyping, biomarker profiling, translation profiling, pathway identification mutations, and gene expression profiling. The techniques allow the scientists to analyze several genes at a time with accurate results. The rising prevalence of genetic disorders, increased focus on drug discovery and development, and rising demand for personalized medicines are driving the market growth. According to the Genetic Disorders UK 2017, every year approximately 30,000 new born children are diagnosed with genetic diseases. Microarray analysis helps in understanding the gene patterns in different types of tumors. They are also used for detection of cancer biomarker and also for its research. Hence the rising prevalence of cancer and increasing investments for cancer research can drive the market growth.
However, factors such as high costs of diagnosis, contamination, and inaccurate results are expected to hinder the market growth during the forecast period
The global microarray analysis market is segmented on the basis of type, application, product type, and end-user. The global microarray analysis market, by type, is segmented into DNA microarrays, protein microarrays, tissue microarrays, cellular microarrays, chemical compound microarrays, glycan arrays, and phenotype microarrays. The application segment is segmented into research, genotyping, forensic analysis, proteomics, genomics, disease diagnosis, drug discovery, and toxicological research. The product type segment is further sub-segmented into reagents, primers, buffers, DNA chips, reagent kits, and instruments. The instrument category consists of scanner, hybridization oven, Multi-Channel (MC) instrument, target preparation instrument, slide imprinters, centrifuge, and others. On the basis of end-user, the market is categorized into pharmaceuticals, biotechnology, hospitals and clinics, diagnostic centers, academic and research institutes, and ambulatory care centers.
On the basis of region, the global microarray analysis market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Key players
Some of the key players for the global microarray analysis market are Affymetrix, Inc., Agilent Technologies, Inc., Sequenom, Inc., Roche NimbleGen, Illumnia, Inc., and Applied Microarrays. Other companies operating in the global microarrays market are biomerieux SA, Discerna, Gyros AB, Luminex Corporation, NextGen Sciences, PLC, Thermo Fisher Scientific, and ProteoGenix.
Regional Market Summary
Global Microarray Analysis Market Share (%), by Region
Sources: National Cancer Institute, World Health Organization, European Commission, ALZHEIMER'S DISEASE INTERNATIONAL
The microarray analysis market is dominated by the Americas owing to the adoption of advanced technology for diagnosis, awareness among people for better diagnostics, and high investments in research. The National Cancer Institute received USD 5.665 billion from the States Congress for cancer research programs in 2018.
It is estimated that Europe was the second largest in the global microarray analysis market. The rising focus on drug discovery, personalized medicines, and targeted therapy are driving the growth of the market in this region. In November 2016, over 30 European and international members along with the European Commission established an initiative called the International Consortium for Personalized Medicine, or "ICPerMed" to establish Europe as a global leader in personalized medicine research. Thus, the increasing research in personalized medicines serves favorable backgrounds for the market to grow in this region.
The microarray analysis market in Asia-Pacific is expected to witness growth owing to rising prevalence of genetic disorders, growing awareness among the people, and government initiatives. According to Alzheimer's Disease International, in 2015, 23 million people in the Asia-Pacific region had dementia, and by 2050 the number is expected to rise to 71 million.
The Middle East and Africa holds the least share in the global microarray analysis market due to low funding in medical and health research. However, the rising prevalence of genetic diseases and increasing healthcare spending favor the market growth in this region.
Intended Audience
Market Segmentation and Key Market Players
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)