Global Microarray Market – Industry Trends and Forecast to 2029

Global Microarray Market Analysis and Size

Over recent years, the microarray has been increasingly popular in the diagnosis of viral and genetic disorders, medication development, pharmacogenomics research, cancer diagnostics and forensic applications. Consequently, the presence of various growth determinants leads to the substantial growth of the market over the forecasted period.

• Global Microarray Market was valued at USD 3,407.66 million in 2021 and is expected to reach USD 8,995.4 million by 2029, registering a CAGR of 12.90% in 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Microarray Market Definition

Microarray is a cutting-edge molecular biology technology for simultaneously detecting the expression of many genes. Assay design is quick, accurate, cost-effective, and simple. Microarrays can be used to study a wide range of micro-molecules, including DNA, RNA, proteins, enzymes, carbohydrates, and tissues. Gene expression profiling, molecular interactions, biomarker profiling, enzyme activity, pathway identification, and mutations are all possible applications. Microarray is being used in clinical research and diagnosis and basic research.

Report Scope and Market Segmentation

Microarray Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growing Burden Of Diseases

The high frequency of cancer and the rising prevalence of various chronic diseases as well as the utilization of this approach to identify infectious diseases are driving the market forward. This is the most significant factor driving the growth for this market.

• High Usage for Various Applications

The usage of microarrays for numerous applications such as genotyping, forensic analysis, measuring predisposition to disease, evaluating somatic mutations in cancers or germline mutations in individuals, assessing loss of heterozygosity, among others are also expected to accelerate the overall growth of the market.

Furthermore, the expanding healthcare sector, increase in government funding for the healthcare sector, and the development in genetics are also expected to fuel market growth within the forecasted period. The rapidly evolving information and software technology as well as emerging bioinformatics, are also projected to bolster the growth of the market.

Opportunities

• Growing Advancements in Treatment

The advancement of diagnosis and treatment options has resulted in the development of goods that can assist patients in a wide range of situations, further offering numerous growth opportunities for the market.

• Surging Research and Funding Activities

There has been an increase in healthcare research and development, as there is a rising need for research in the pharmaceutical and healthcare industry. Therefore, the increase in genomic and proteomic research funding is also estimated to generate lucrative opportunities for the market.

Restraints/Challenges Global Microarray Market

• Requirement Of High-Tech Instruments 

On the other hand, the microarray basically requires high-tech instruments, which are very costly. Additionally, the cost of tests is also very high, which is expected to obstruct market growth.

• Availability of Substitutes

The availability of substitutes and the presence of alternate mediums for the analysis are estimated to impede the market's overall growth.

Also, the need for standardization of databases along with the shortage of skilled professionals are projected to challenge the microarray market in the forecast period of 2022-2029.

This microarray market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the microarray market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post Covid-19 Impact on Microarray Market

The microarray market was positively impacted by the outbreak of COVID-19. The rise in cases around the world has largely increased the vaccine research and development during Covid-19. As a result, prominent firms have launched a slew of new products to test immune surveillance, diagnostics, and vaccines. JPT Peptide Technologies (JPT) launched a set of ready-to-use peptide tools in April 2020 to analyze and profile the immune response to SARS-CoV-2 infection. The UC Irvine Vaccine R&D Center has also created a mechanism to evaluate COVID-19 protection against 34 coronavirus antigens, or 33 antigens. However, the disruption of the supply chain has made it difficult for microarray providers to obtain prepared microarray in time to fulfill the rising demand of populations. The research institution's routine operations have been delayed due to the lockdown. But the rising demand for testing and research is expected to rise as microarray technology becomes more widely used and as the number of patients suffering from various diseases rises, which will push the market's growth on a large scale.

Recent Developments

• In June 2020, Thermo Fisher Scientific launched the Axiom Human Genotyping SARS-CoV-2 Research Array, which will help epidemiologists to study the SARS-CoV-2 infectious disease.
• In April 2020, Celsee, Inc., a firm that provides instruments and consumables for the separation, detection, and analysis of single cells, has been bought by Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostic products. The acquisition's terms were not disclosed. During Bio-first-quarter Rad's 2020 financial results conference call, the company will go over the purchase in greater detail.

Global Microarray Market Scope

The microarray market is segmented on the basis of product, type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Consumables
• Software
• Instruments

On the basis of product, the microarray market is segmented into consumables, software and instruments.

Type

• DNA
• Protein
• Other

On the basis of type, the microarray market is segmented into DNA, protein and others.

Application

• Research
• Drug Discovery
• Disease Diagnostics

On the basis of application, the microarray market is segmented into research, drug discovery and disease diagnostics.

End User

• Research and Academic Institutes
• Pharmaceutical and Biotechnology Companies
• Diagnostic Laboratories
• Others

On the basis of end user, the microarray market is bifurcated into research and academic institutes, pharmaceutical and biotechnology companies, diagnostic laboratories and others.

Microarray Market Regional Analysis/Insights

The microarray market is analyzed and market size insights and trends are provided by country, product, type, application and end user as referenced above.

The countries covered in the microarray market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the microarray market because of the growing incidence of various diseases such as cancer and genetic diseases coupled with the increasing funding for genomics and proteomics research within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government funding for the healthcare sector, the growing geriatric population, and the increasing prevalence of chronic diseases and cancer within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The microarray market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for microarray market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the microarray market. The data is available for historic period 2010-2020.

Competitive Landscape and Microarray Market Share Analysis

The microarray market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microarray market.

Some of the major players operating in the microarray market are

• Thermo Fisher Scientific, Inc. (U.S.)
• Agilent Technologies, Inc. (U.S.)
• Molecular Devices, LLC (U.S.)
• PerkinElmer Inc. (U.S.)
• EKF Diagnostics (UK)
• Illumina, Inc. (U.S.)
• General Electric (U.S.)
• Bio-Rad Laboratories Inc. (U.S.)
• bioMérieux (France)
• BD (U.S.)
• Danaher (U.S.)
• Biosystems Inc., (U.S.)
• Luminex Corporation (U.S.)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Merck KGaA (Germany)
• Danaher (U.S.)

Research Methodology : Global Microarray Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-microarray-market

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