NEW YORK, Aug. 3, 2022 /PRNewswire/ -- The global microarray analysis market is expected to clock ~US$ 9.26 billion by 2030, owing to the growing applications of microarray analysis in disease diagnosis & prognosis and the rising funds for genomic research.
In the recent years, there have been advancements in the microarray technology which has enabled to obtain more accurate and precise results. This has led to the rising adoption of microarray in the research studies. Private-public organizations are increasingly offering funding to support the research activities. For instance, in July 2020, the National Institutes of Biomedical Imaging and Bioengineering, National Institutes of Health, Department of Health and Human Services funded PathogenDx, an Arizona based technology company developing a multiplexed microarray DNA-based pathogen testing platform. These funds will be used to complete the development and validation of their DetectX-Rv Microarray Assay for COVID-19. Such fundings are anticipated to provide the necessary impetus for the market growth.
the global microarray analysis market has been analyzed from five perspectives: products & services, type, application, end user, and region.
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Excerpts from 'By Type Segmentation'
Based on type, the global microarray analysis market has been segmented into:
- DNA Microarrays
- Protein Microarrays
- Other Types
DNA microarrays segment accounted for the largest share of the microarray analysis market. The major factors attributing to the growth of the segment include the growing applications of DNA microarray in the genomics research, identifying drug-candidates, somatic mutations in cancers as well as understanding the molecular biology of disease that helps in disease diagnosis. Moreover, increasing use of the DNA microarray analysis in toxicogenomic studies is also propelling the growth of the DNA microarrays market. Advancements in DNA microarray and growing investment in R&D by many key players to develop efficient and accurate DNA microarray are the key factors anticipated to drive the DNA microarray market.
Excerpts from 'By Region Segmentation'
Regionally, the global microarray analysis market has been segmented into:
- North America
- Asia Pacific
- Rest of the World
North America dominated the market for microarray analysis holding the largest revenue share during forecast period. The major factors driving the growth of microarray analysis market in this region include the greater private-public funding for research studies and high usage of microarray technology for various genomic and proteomic research. Moreover, large number of research institutes and the presence of the leading microarray manufacturers are also propelling the microarray analysis market growth in this region.
High awareness about the increased application of DNA microarray in Europe is expected to drive the DNA microarray market growth during the forecast period. The DNA microarray market in Asia Pacific and Latin America is expected to grow rapidly due to the increasing prevalence of various chronic diseases and cancers, growing number of contract research organizations as well as the growing adoption of DNA microarray technology. Growing unmet needs for disease diagnosis in the Middle East and Africa are expected to drive DNA microarrays market growth during the forecast period.
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Excerpts from 'Competitive Landscape'
The prominent players operating in the global microarray analysis market include:
- Thermo Fisher Scientific Inc
- Illumina, Inc
- PerkinElmer Inc
- Agilent Technologies, Inc
- Arrayit Corporation
- Bio-Rad Laboratories, Inc
- Microarrays Inc
- Merck KGaA
- Qiagen N.V
- Danaher Corporation
- Among others
Players in the microarray analysis market are adopting various inorganic growth strategies such as collaboration or partnership.
For instance, Mobidiag Ltd., a molecular diagnostics company, announced the completion of a EUR10 million equity investment from Autobio Diagnostics in February 2019.
The equity investment proceeds will be used to accelerate the development of Novodiag, an innovative molecular diagnostic platform that combines microarray and real-time PCR technologies.
Report Scope & Segmentation:
Market Size in 2021
USD ~ 4.79 billion
Revenue forecast in 2030
USD ~ 9.26 billion
CAGR of ~ 7.6% from 2022 to 2030
Base year for estimation
Products & Services, Type, Application, End User
North America, Europe, Asia Pacific, and the Rest of the World (ROW)
Microarray Analysis Market segmentation:
Products & Services Outlook (Revenue, USD, 2030)
- Software & Services
Type Outlook (Revenue, USD, 2030)
- DNA Microarrays
- Protein Microarrays
Application Outlook (Revenue, USD, 2030)
- Research Applications
- Disease Diagnostics
- Drug Discovery
End User Outlook (Revenue, USD, 2030)
- Pharmaceutical & Biotechnology Companies
- Diagnostic Laboratories
- Research & Academic Institutes
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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