SAN FRANCISCO, April 17, 2019 /PRNewswire/ -- The global DNA & gene chip market size is expected to reach USD 10.7 billion by 2025, according to a new report by Grand View Research, Inc., at an 11.4% CAGR during the forecast period. DNA and gene chips have gained much success in providing high throughput capabilities for comprehensive genome studies to enhance disease knowledge and target them. This technology has emerged as a valuable and promising solution across various aspects of disease management. These factors have been driving the market.
Key suggestions from the report:
Based on product, consumables dominated the market with the largest share. This is due to presence of large number of entities engaged in providing reagents and kits associated with the use of DNA chips
The cancer treatment and diagnosis segment accounts for a significant share in the market owing to rising inclination toward development of companion diagnostics and growing usage of DNA microarrays in cancer diagnosis and treatment
Implementation of gene chip for drug discovery is also expected to increase in the coming years owing to growing demand for personalized medicine
By end use, academic/government research institutes accounted for the largest share in 2017. Ongoing research projects on gene expression analysis in these institutes have attributed for the estimated share
In terms of region, North America dominated the market with by revenue. High penetration of major revenue generating companies in U.S. has contributed to its leading share
Asia Pacific is projected to witness the fastest year-on-year growth owing to rising healthcare spending in developing economies and increase in R&D investment
Some of the prominent market participants are Agilent Technologies; Thermo Fisher Scientific, Incorporated (Affymetrix, Inc.); Illumina, Inc.; Macrogen Inc.; and Arrayit Corporation. These players are engaged in mutual partnerships with research communities and other diagnostic firms for use of gene chips for targeting disease prognosis.
Conventional means of gene analysis allow investigation of relatively small amounts of genes at a time, which further emphasizes on the uptake of DNA microarray technology. DNA microarray technology allows concurrent analysis of very large numbers of nucleic acid fragments in a single experiment.
Continuous development of new tools to support and enhance reliability of DNA microarray technology is likely to drive this market at a significant pace in the foreseeable future. Furthermore, healthcare entities are engaged in exploiting novel solutions for enhancing and combining data generated from gene chip with data generated from high throughput technologies. Mutually beneficial partnerships between microarray developers and pharmaceutical/biopharmaceutical companies for acceleration of genomic and biomedical research activities is anticipated to spur market growth in the coming years.
Grand View Research has segmented the global DNA & gene chip market on the basis of application, product, end use, and region:
DNA Sequencing Market – Demand for accurate, inexpensive and fast DNA sequencing data has led to the evolution and dominance of a new generation of sequencing technologies.
Apoptosis Market – HIV infection, organ transplant rejection and multiple organ dysfunction syndrome followed by growing demand for healthcare services is expected to develop apoptosis based therapies.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.