Microarray Analysis Market Size, Share & Trends Analysis Report By Product and Service (Consumable, Software and Service, Instruments), By Type (DNA Microarrays, Protein Microarrays), By Applications (Drug Discovery, Disease Diagnostic, Research Applications), By End-User (Research and Academic Institutes, Pharmaceutical and Biotechnology Companies, Diagnostic Laboratories) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global microarray analysis market size 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).

In a microarray technique, many nucleic acids are bound to a surface, which is then used to detect the hybridization events to determine the relative concentration of nucleic acid sequences in a mixture. Countless different nucleic acid sequences in the solution can be quantified using this method. The primary purpose of the microarray analysis is to quantify gene expression levels. It is also used in conjunction with chromatin immunoprecipitation to identify the binding sites of transcription factors. Microarrays are known to be the initial technology that allowed biologists to access enormous volumes of sophisticated digital data, except DNA sequencing. Additionally, the others can conduct analyses and meta-analyses that the original data creators had yet to plan due to their access to the raw and processed data.

Highlights

• Consumables dominate the product and service segment
• DNA microarrays dominate the type segment
• Research applicationdominates the application segment
• America is the highest contributor to the market

Market Dynamics

Global microarray analysis market drivers

Growing application areas for microarrays

DNA microarrays are best known for their use in screening, but they have also sped up the pace of disease research. The ability of DNA microarrays to distinguish between shorter sequence lengths is increasing, resulting in CGH experiments using arrays with higher resolution. In addition, differences between an interest genome and a reference genome's DNA copy counts can be discovered using CGH. For instance, it can distinguish between cancerous tissue and healthy control tissue. Multiple protein immobilization onto a single solid support and the use of miniaturized assays to better comprehend protein interactions have both steadily increased in popularity in recent years.

Rising cancer incidence

Healthcare applications for microarray experiments include cancer research and disease diagnosis on both the research and clinical scales. Understanding global cancer statistics requires knowledge of the data produced by various national cancer registries. Therefore, the demand for data analysis hardware, consumables, instruments, software, and tools is expected to rise as the incidence rate of cancer increases.

Global microarray analysis market restraints

Lack of skilled experts and substitutes

The existence of alternatives and substitute mediums for analysis impedes the market's expansion. For instance, microarray analysis only uses hybridization to profile predefined transcripts and genes, whereas RNA-Seq enables complete sequencing of the entire transcriptome. Additionally, a shortage of qualified professionals and the requirement for database standardization impede the market's expansion.

Global microarray analysis market opportunities

Launch of new products in developing markets

Products that can assist patients with a wide range of applications have been developed due to the growing development in diagnosis and treatment options. The increasing number of patients who require gene expression services and the expansion of research efforts are to blame for the rising product launches in the global microarray analysis market. In addition, favorable market conditions are anticipated to increase strategic choices, such as mergers and acquisitions, cooperative scaling-up strategies, and signing a contract for some time to produce steady recurring revenues.

A larger global product launch is anticipated as the number of patients in developing nations who require genetic testing rises. Many businesses offering goods and services to various industries are expected to enter the market by releasing cutting-edge products. The microarray analysis market provides opportunities to create test kits and reagents, successful assays, and new software based on computational capabilities.

Regional Analysis

By region, the global microarray analysis market is segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa.

Americas dominates the global market

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. The Americas held the largest market share in 2022 (40.98%), which is predicted to lead the global microarray market over the forecast period. This most significant market share can be attributed to the region's major players' presence and the growing adoption of new technologies. Furthermore, North America and Latin America are additional divisions of the Americas. The market for microarray analysis in North America is expanding due to factors including the rising incidence of cancer and increased funding for research and development in this region. For instance, the National Institute of Cancer received funding for cancer research totaling about USD 42.1 in 2019. Microarrays are employed in the detection of cancer cells and the analysis of cellular genetic makeup. Additionally, increased funding for proteomics and genomics has resulted from the demand for new medications, boosting 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 owing to its highly developed healthcare industry, prominent research and development facilities, and simple access to commodities. Western Europe and Eastern Europe comprise the two segments of the European microarray market. The microarray market in Europe is anticipated to expand quickly due to factors like the region's high incidence of cancer and other chronic diseases. Further, the architecture of the genes assists in identifying protein and gene mutations. In proteomics and genomic studies, microarrays identify the genes' structure and mutations. Proteomics and genomics research has also increased recently in EU nations, which will likely help the market grow.

The Asia-Pacific region's market is anticipated to expand at the second-fastest rate in the world as a result of the adoption of precision medicines and the increased prevalence of chronic illnesses and cancer. In precision medicine, microarrays are used for the analysis of genome sequencing. For example, China invested USD 9 billion in developing and manufacturing precision medicine, which is anticipated to increase demand for microarray testing. Due to increased government funding for the healthcare sector, India is also expected to grow rapidly during the forecast period. In the healthcare industry, USD 679 million was invested in 2018. Further, government initiatives are anticipated to accelerate the use of microarrays in research.

The Middle East and Africa is predicted to have the lowest market share throughout the projected period due to inadequate research, a lack of consumer awareness, and poor discretionary income facilities in African countries. One of the main drivers of adopting microarrays for research and development is the region's rising cancer incidence. The Middle East's expanding healthcare infrastructure is also anticipated to encourage the use of microarrays for disease diagnosis. However, because of the continent's underdeveloped healthcare infrastructure and shortage of research facilities, the global microarray market in Africa is predicted to expand gradually.

Segmental Analysis

The global microarray analysis market is segmented by product and service, type, application, and end-user.

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. Slides, functionalized glass slides, functionalized plastic slides, and functionalized cover slides are consumables for the microarrays. These consumables are used for the gene scanning processes used in microarray techniques. The demand for consumables has increased as a result of an increase in the number of diagnostic laboratories and research facilities. The demand for consumables is affected by several factors. Additionally, the adoption of consumables for microarrays has increased due to the rise in DNA methylation and mRNA studies.

Genome analysis and identification are made with microarray services and software. The software is used to analyze the data. The increase in experiments has increased tool and service adoption, which helps drive demand for software and services. Proteomics, genomics, and the completion of human genome sequencing are just a few of the crucial discoveries in life sciences that have been made in the last ten years. The adoption of microarray services and software has resulted in increasing demand for identifying and characterizing human proteins, fueling market expansion.

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. DNA microarrays can diagnose diseases and genetic disorders by looking for changes in a gene's DNA structure. The DNA of the patients is combined with brief single-stranded DNAs created. The produced DNA used to detect cancer mutations binds synthetically to the DNA. Further, one of the factors driving up demand for DNA microarrays is the rising incidence of cancer.

Protein chips or protein microarrays are used to identify and examine protein interactions. The large scale of proteins is determined using protein microarrays. The cost of diagnosing is low, and only a small sample is needed to analyze the proteins. These are a few benefits of utilizing protein microarrays. Another factor likely contributing to the rising demand for protein microarrays is increased spending on R&D activities.

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. Research applications are used to analyze, determine, and diagnose diseases. Microarrays are used to diagnose DNA molecules and track disease progression. One of the main factors influencing the demand for microarrays is the high accuracy of mutation detection.

Drug discovery is referred to as a technique that is used in the identification and evaluation of drugs. Phase I, II, III, and IV are the four phases of the drug discovery process. Phase I of a preclinical trial involves analyzing and determining the molecules; phase II involves using the molecules on animals while continuing to analyze and determine the molecules. Further, the use of approved molecules on humans occurs in phase III. The use of the molecules in phase IV is determined by how well the molecules are analyzed. The final phase, Phase IV, is when the finished products are released. According to the American Society of Council and Health, the success rate of tested molecules in 2018 was 13.8%. Clinical trials have increased due to increased research and development, which is one of the factors fueling the market's expansion.

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. Academic and research institutes carry out numerous studies on various topics. In the last few years, there has been an increase in research on human genome projects. In addition, the growth of academic and research institutions is primarily due to increased funding for research projects. Increased funding for research initiatives has also increased academic research institutes, which has boosted the segment's growth.

Drug development and manufacturing are done by pharmaceutical and biotechnology companies. Pharmaceutical and biotechnology companies run a variety of research projects for the diagnosis and creation of new medications. Furthermore, the production of medical products begins after biotechnology and pharmaceutical companies have finished their research studies.

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.