Microarray Analysis Market 2032 Size, Share, Market Trends, Business Revenue Forecast Statistics and Growth Prospective
Microarray analysis is a novel approach for the analysis of gene expression. They are glass slides that contain an ordered series of samples (DNA, RNA, protein, tissue). They are capable of simultaneously analyzing thousands of genes, discover gene functions, analyze mutants and transgenic and gather massive amounts of information concerning gene expression profile of different cells. Market Research Future (MRFR) has deemed the growth of the global microarray analysis market to be healthy which would expand at a CAGR of 8.2% over the forecast period of 2023-2032.
Microarray analysis has garnered many accolades from the medical field due to the inherent advantages associated with it such as faster diagnosis, flexibility, economic benefits, accuracy, and others.
Rising occurrence of genetic disorders has augmented the demand for advanced diagnosis & screening methods which is aiding the growth of the global microarray analysis market. This coupled with raising concerns and initiatives from the governments in multiple countries have boosted the growth of the market. Government endeavors towards the modernization of healthcare sector in different countries coupled with the launch of various screening programs by governments favor the market growth. For instance, compulsory screening of newborns under the affordable healthcare act in the US acts as a plus for the growth of the market.
Microarray analysis has found significant relevance in cancer management and surging prevalence of oncology diseases is likely to initiate growth within the global microarray market. They have demonstrated efficacy and accuracy in analysis of gene patterns in tumor and detection of cancer biomarker.
The application range of microarrays is expanding continuously. Microarray analysis also finds potential application in the field of drug discovery and targeted therapy. Other encouraging factors include a trend towards personalized medicine, development in the field of genetics, and increasing healthcare expenditure across the globe.
On the contrary, the growth of the global microarray analysis market might be hampered by high cost associated with microarray analysis, lack of skilled medical professionals, and the high cost of high-tech instruments.
Segmentation
The global microarray analysis market has been segmented based on application, type, product type, and end-user.
By application, the global microarray analysis market has been segmented into tissue microarrays, protein microarrays, phenotype microarrays, chemical compound microarrays, DNA microarrays, and cellular microarrays. The DNA microarray segment is used extensively in diagnostic centers, academic and research institutes, ambulatory care centers, pharmaceuticals, hospitals, and biotechnology owing to which it accounts for the largest share of the market.
By application, the global microarray analysis market has been segmented into research, disease diagnosis, proteomics, forensic analysis, genomics, genotyping, drug discovery, and toxicological research. The drug discovery segment is expected to garner the highest CAGR over the forecast period.
By product type, the global microarray analysis market has been segmented into DNA chips, reagents, primers, instruments, reagent kits, and buffers. The instrument segment has been further segmented into centrifuge, slide imprinters, hybridization oven, Multi-Channel (MC) instrument, target preparation instrument, and others.
By end user, the global microarray analysis market has been segmented into pharmaceuticals, academic and research institutes, ambulatory care centers, biotechnology, diagnostic centers, hospitals and clinics, and others.
Regional Analysis
Geographically, the global microarray analysis market spans across regions namely, North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America region is a frontrunner in the uptake of latest technologies and is briskly adopting microarray analysis for improved diagnosis. Heavy investment in R&D activities and augmented demand for advanced diagnostics spur the demand for microarray analysis.
Europe follows North America closely and is driven by an increased focus on drug discovery, targeted therapy, and personalized medicine.
The APAC microarray analysis market is expected to exhibit rapid growth over the forecast period. Expansion of the healthcare sector, spreading awareness, and government initiatives towards the modernization of the healthcare sector stimulate the growth of the market in APAC.
The MEA market is anticipated to witness limited expansion owing to low funding in healthcare and medical research.
Competitive Landscape
The global microarray analysis market players is marked by the presence of eminent players such as Thermo Fisher Scientific, Gyros AB, Luminex Corporation, NextGen Sciences PLC, Biomerieux SA, ProteoGenix, Affymetrix Inc., Sequenom Inc., Discerna, Illumnia Inc., Applied Microarrays, Agilent Technologies Inc., and Roche NimbleGen.
Industry Updates
In February 2019, Mobidiag Ltd., a molecular diagnostic company announced the completion of €10 Mn equity investment from Autobio Diagnostics. The proceeds from the equity investment would be used to accelerate the development of Novodiag, an innovative molecular diagnostic platform which combines microarray and real-time PCR technologies.
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