Microarray Market Size is Predicted to Reach US$ 8.15 Billion by 2030

The global microarray market size is predicted to hit around US$ 8.15 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

In 2022, the microarray market study provides crucial information on market share, market size, growth rate analysis Y-O-Y, production, consumption, and sales analysis for the forecast period 2021 to 2030. The report contains 150+ pages with detailed analysis.

A microarray can be described as a semiconductor covering on which arrangements of many wide-ranging genes are attached to probes. Microarrays are employed to measure expression levels of quantity of genes instantaneously or to genotype several areas of a genome. The method finds application in clinical diagnosis, drug R&D, environment control, and agriculture among other sectors. The microarrays have a wide range of usage and are finding applications in toxicological response outlining, basic molecular biology, biomarker recognition, and pharmaceutical target evaluation. The capability of microarrays to enable analysis of several thousands of genes at the equivalent time has led to the success of this novel technology. Numerous other factors like global upsurge in the prevalence of cancer is also one of the significant factors which are encouraging market growth to greater level.

Growth Factors:

Factors such as growing incidence of cancer worldwide, increasing expenditure on research and development in the healthcare sector, growing number of applications of microarrays, advances in the fields of proteomics and genomics, developments in bioinformatics, evolution of software’s, growing awareness regarding personalized medicines, and increasing preference for DNA based microarrays are driving the growth of microarray market. Moreover, growing applications of microarrays in the diagnosis of infectious and genetic diseases, drug discovery, and pharmacogenomics research, among others is driving the microarray market growth across the world. Additional features that are expected to fuel this business is increasing requirement for new investigative approaches and technological innovation.

Cancer has a significant impact on people across the world. Growing occurrences of cancer is amongst the key aspects driving market evolution. As per WHO(World Health Organization), the United States is anticipated to witness high volume of fresh cancer cases and is projected to rise about 24% in men to higher than 1 million cases each year, and by around 21% in women to greater than 900,000 cases each year, from 2010 to 2022. Microarray is one of the techniques that are used by scientists to overcome the restriction of traditional mechanism. Researchers can examine the expression of several genes simultaneously and competently by employing microarrays. This procedure helps in early recognition of cancer. The usage of NGS (Next-Generation Sequencing) and microarrays and has presented noteworthy contributions with the purpose of understanding the progress of cancer.

Future of Microarray

The microarray technologies encompass a high multiplexing capability and are extensively used for sensing diverse β-lactamase genes existing in a sole strain. This ability can help clinicians in guiding antimicrobial treatment. Microarray technology is demonstrating to be one of the main developments in the recent past that have driven biological research into post-genomic era.

Report Highlights Details
Market Size US$ 8.15 billion by 2030
Growth Rate CAGR of 8.2% from 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Type, Application, End User
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

COVID-19 Impact:

The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The microarray report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.

Regional Analysis:

The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, the North American region dominated the worldwide market with a market share of higher than 39%. The United States indicated the highest slice in North America principally due to heavy expenditure in microarray research and development and existence of skilled scientists. Moreover, early execution of latest healthcare technologies also supported the high market portion of the United States.

Europe was the subsequent significant market chiefly due to presence of key manufacturers. Growing focus on personalized medicines in the European region is also expected to boost the demand for microarray in the anticipated time-span. The Asia Pacific region is projected to grow at the highest CAGR of around8.9% in the estimate period due to high prevalence of cancer. Africa, Middle East, and Latin American region will display noticeable growth.

Key Players:

The microarray market is consolidated with a major number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research.

Some of the prominent players in the microarray market include:

  • Illumina, Inc.
  • Agilent Technologies, Inc.
  • Thermo Fisher Scientific, Inc.
  • Merck & Co., Inc.
  • PerkinElmer, Inc.
  • Arrayit Corporation
  • Bio-Rad Laboratories
  • GE Healthcare
  • Molecular Devices, LLC
  • Affymetrix

Market Segmentation

By Product

  • Consumables
  • Software & Services
  • Instruments

By Type

  • DNA Microarrays
  • Protein Microarrays
  • Other Microarrays

By Application

  • Agriculture
  • Research Applications
  • Drug Discovery
  • Diseases Diagnostics
  • Other Applications

By End User

  • Research & Academic Institutes
  • Pharmaceutical & Biotechnology Companies
  • Diagnostic Laboratories
  • Other End Users
  • Others

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Find More Press Releases at https://www.globenewswire.com/en/search/organization/Precedence%2520Researchv

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Contact Us:         

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.