Microarray Analysis Market for this is expected to reach USD 4649.01 Million by the end of the forecast period growing at a CAGR of 6.90%.
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.
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, 2017
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.
Market Segmentation and Key Market Players
Global Microarray Analysis Market, by Type
Global Microarray Analysis Market, by Application
Global Microarray Analysis Market, by Product Type
Global Microarray Analysis Market, by End-User
Global Microarray Analysis Market, by Region
|Market Size||USD 4649.01 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Types, Application, Product Type, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||