Microarray Analysis Market by Product & Service (Consumables, Instrument, and Software & Services), Type (DNA, Protein Microarray), Application (Research, Drug Discovery, and Disease Diagnostics), and End User (Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies) - Analysis & Forecast 2019-2030
Report ID : 78 | Published Date : May 2019 | Pages : 150 | Region : global | Report Code : BT-15
Microarray Analysis Market Overview and Introduction
The Global Microarray Analysis Market was estimated to be over US$ 3.7 Billion in 2018. It is anticipated to grow at a substantial digit CAGR from 2018 to 2030.
Microarray is a device which is used to detect the expression of multiple genes simultaneously. Microarray technology is used for identifying as well as specifying the function of genes and simultaneously detecting the expression of the gene in different environmental conditions. Microarray technology finds major application in the field of pharmacogenomics. Pharmacogenomics is the branch of science, which deals with the identification of responses to definite therapeutic drugs, by an individual with a distinct genetic makeup. The microarray analysis study of a particular gene from a diseased or a normal cell assists in identifying the biochemical composition of the proteins synthesized by the respective cell in consideration. This in turn provides information regarding drugs which are to be synthesized to combat these proteins and ultimately reduce its effects.
The global microarray market is driven by increasing use of microarray technology (DNA Microarray) in diagnosis of cancer. According to World Health Organization (WHO), increasing incidences of cancer across the globe is supporting the growth of microarray analysis market. Moreover, increasing use of microarray analysis in diagnosis of genetic diseases, diagnostics, genome mapping and sequencing have been pivotal in contributing to the extensive growth of the global microarray market. However, DNA microarray is incapable of exhibiting changes for protein levels, which is an important criterion in detecting toxicity effect on the body. Moreover, complexity of data obtained through DNA microarray analysis is likely to restrain the market to a certain extent.
Microarray Analysis Market by Product & Services
On the basis of product & services, the microarray market is segmented into instruments, consumable and software & services. In 2018, the consumable segment is estimated to account for the largest share in the global microarray market. The large share of this segment can be attributed to the regular, repeated, & bulk purchases of consumables and growing applications of microarray in various fields.
Microarray Analysis Market By Type
On the basis of type, the market can be segmented into protein microarray and DNA microarray. In terms of market share, the segment of DNA Microarray is estimated to account for the largest market share in 2018, owing to increasing use of DNA microarrays in drug discovery, genomic & cancer research, genetic disease diagnosis, and fabrication of personalized medicines among others.
Microarray Analysis Market by Application
Moreover, in terms of application the microarray market can be segmented into research application, drug discovery, disease diagnostics, and other applications. The segment of research application was estimated to account for largest market share owing to factors such as growing number of initiatives and rising government funding’s for research projects.
Microarray Analysis Market by End Users
Based on the end users, the market is segmented into diagnostic laboratories, research & academic institutes, pharmaceutical & biotechnology company and other end users. The research and academic institutes segment is estimated to account for the largest share of the global microarrays market. The large share of this segment can be attributed to rise in government funding in the field of proteomic and genomic research.
Microarray Analysis Market by Region
The global microarray market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW).North America dominated the market of microarrays, followed by Europe and Asia Pacific. North America will continue to dominate the global microarray market in the forecast period owing to factors such rising incidence of cancer, increasing use of microarray in diagnosis of genetic diseases and technological advancements among others. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Japan and India. Factors such as increased concentration on personalized medicine and highly advanced hospital infrastructure are likely to attract patients from different parts of the world.
Microarray Analysis Market Prominent Players
The prominent players in the global microarray market are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Molecular Devices, PerkinElmer Inc., Illumina, Inc., GE Healthcare, and Bio-Rad Laboratories Inc., Merck KGaA, Arrayit Corporation, Microarrays, Inc. Among others.