Global Microarray Analysis Market Grows Steadily at a CAGR of 7.86%

Introduction

Many nucleic acids are bound to a surface in a microarray technique, which is then used to detect the hybridization events and ascertain the relative concentration of nucleic acid sequences in a mixture. This technique quantifies many nucleic acid sequences in the solution. The microarray analysis's measurement of gene expression levels is the primary goal. It is additionally used in conjunction with chromatin immunoprecipitation to determine the binding sites of transcription factors.

Market Dynamics

Growing Applications of Microarrays Drive the Global Market

Although DNA microarrays are most used for screening, they have also accelerated the pace of disease research. CGH experiments are now using DNA microarrays with higher resolution due to the DNA microarrays' growing capacity to distinguish between shorter sequence lengths. Differences between an interest genome and a reference genome's DNA copy numbers can be discovered using CGH. For example, it can tell the difference between healthy control tissue and cancerous tissue. Miniaturized assays to better understand protein interactions and the immobilization of multiple proteins onto single solid support have gained popularity in recent years.

Launch of New Products in Developing Markets Creates Tremendous Opportunities

The growing development in diagnosis and treatment options has led to the development of products that can help patients in various applications. The rise in product launches in the global microarray analysis market is due to the rising demand from patients for gene expression services and the expansion of research efforts. In addition, favorable market conditions are anticipated to lead to more strategic decisions, including mergers and acquisitions, cooperative scaling-up strategies, and signing a long-term contract to generate consistent recurring revenues. Many companies that provide goods and services to various industries are expected to enter the market by launching cutting-edge products.

Regional Analysis

America is the most significant shareholder in the global microarray analysis market and is expected to grow at a CAGR of 8.93% during the forecast period. The presence of the region's major players and the expanding use of new technologies are both factors that contribute to this largest market share. The Americas are further divided into North America and Latin America. Due to factors like the rising cancer incidence and increased funding for R&D in this region, the market for microarray analysis in North America is growing. Microarrays are used in the analysis of cellular genetic makeup and the detection of cancer cells. The demand for new drugs has also led to increased funding for proteomics and genomics, which has helped the market.

Europe is expected to grow at a CAGR of 6.93% during the forecast period. Europe is the second-largest microarray market in the world, after the Americas, owing to its well-developed healthcare sector, considerable research and development infrastructure, and simple access to goods. The European microarray market is anticipated to expand quickly due to factors like the region's high cancer incidence and other chronic diseases. Gene and protein mutations can be found using the gene structures. Microarrays are used in proteomics and genomic studies to determine the structure of the genes and spot mutations. Recent growth in proteomics and genomics research in EU countries will likely contribute to market expansion.

Key Highlights

• The global microarray analysis market was valued at USD 4,555.34 million in 2022. It is expected to reach USD 9,012.46 million by 2031, growing at a CAGR of 7.86% during the forecast period (2023–2031).
• Based on product and service, the global microarray analysis market is bifurcated into consumables, software and service, and instruments. The consumables segment is the highest contributor to the market and is expected to grow at a CAGR of 8.89% during the forecast period.
• Based on type, the global microarray analysis market is bifurcated into DNA microarrays and protein microarrays. The DNA microarrays segment owns the highest market share and is expected to grow at a CAGR of 7.82% during the forecast period.
• Based on application, the global microarray analysis market is bifurcated into drug discovery, disease diagnostic, and research applications. The research applications segment is the highest contributor to the market and is expected to grow at a CAGR of 8.15% during the forecast period.
• Based on end-user, the global microarray analysis market is bifurcated into research and academic institutes, pharmaceutical and biotechnology companies, and diagnostic laboratories. The research and academic institutes segment owns the highest market share and is expected to grow at a CAGR of 8.05% during the forecast period.
• Americas is the most significant shareholder in the global microarray analysis market and is expected to grow at a CAGR of 8.93% during the forecast period.

Competitive Players

1. Thermo Fisher Scientific Inc
2. Agilent Technologies
3. Illumina
4. PerkinElmer Inc
5. Merck KGaA
6. GE Healthcare
7. Danaher Corporation
8. Arrayit Corporation
9. Bio-Rad Laboratories
10. Microarrays Inc

 

Recent Developments

• December 2022- Thermo Fisher Scientific, a global leader in providing scientific services, is opening a new facility in Hangzhou, China, as part of its global initiative to assist businesses more quickly in delivering therapies to patients. The website can cater to Chinese and international organizations' needs for manufacturing and developing biologics and steroids in Asia-Pacific.
• September 2022- Ultivue, Inc., an industry leader in multiplexing tools and novel image analysis solutions for tissue biomarker studies and the Translational Research Unit (TRU) platform of the University of Bern, announced a collaborative agreement to promote multiplexed immunofluorescence (mIF) assays and the use of next-generation TMAs to unlock spatial analysis in scientific research and improve the quality of TMAs integrated into clinical and translational research.

Segmentation

1. By Product and Service
   1. Consumable
   2. Software and Service
   3. Instruments
2. By Type
   1. DNA Microarrays
   2. Protein Microarrays
3. By Applications
   1. Drug Discovery
   2. Disease Diagnostic
   3. Research Applications
4. By End-User
   1. Research and Academic Institutes
   2. Pharmaceutical and Biotechnology Companies
   3. Diagnostic Laboratories