Microarray Analysis Market : Size, Share, Analysis, Trends and Forecast - 2023

The microarray analysis market was valued at USD 3.56 billion in 2017 and is expected to reach USD 5.52 billion by 2023 at a CAGR of 7.6%. The base year for this study is 2017 and the forecast period is 2018–2023.

(EMAILWIRE.COM, October 05, 2018 ) By product and service, the microarray analysis market is segmented into consumables, software & services, instruments. In 2018, the consumables segment is estimated to command the largest share of the microarray analysis market. The large share of this segment can be attributed to the growing applications of microarray in various fields and the regular, repeated, & bulk purchases of consumables.
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Drivers

Increasing incidence of cancer

DNA microarrays are used for the diagnosis of various types of cancers. As a result, the rising incidence of cancer across the globe is expected to support the growth of the microarray analysis market during the forecast period. According to the WHO, cancer is the second-leading cause of death globally and accounted for 8.8 million deaths in 2015. Also, globally, the incidence of cancer is expected to increase from 14.1 million in 2012 to 21.7 million by 2030. As of 2015, 15.2 million cancer cases were diagnosed globally, with 57.0% of them being reported across developing countries in Africa, Latin America, and Asia (Source: GLOBOCAN, 2012).

Growing application areas of microarrays

The microarray technology is primarily used in genome mapping and sequencing applications. However, over the last few years, this technology is increasingly being used in the diagnosis of infectious and genetic diseases, drug discovery, pharmacogenomic research, cancer diagnostics, and forensic applications. Additionally, the microarray technology is also used in immunology research such as the study of the relation between phenotype and gene expression, activation and differentiation of immune cells, regulation of immune responses, analysis of the molecular mechanisms of allergy, and immunological pharmacology.

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The market is dominated by North America, followed by Europe. North America will continue to dominate the market during the forecast period. The increasing incidence of various diseases such as cancer and genetic diseases in this region and increasing funding for genomics and proteomics research in this region are the major factors supporting the growth of the microarray analysis market in North America.

The emergence of NGS as an effective alternative to the microarray technology may hinder the growth of the market to a certain extent.

The major players in the microarray analysis market include Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Molecular Devices (US), PerkinElmer Inc. (US), Illumina, Inc. (US), GE Healthcare (US), and Bio-Rad Laboratories Inc. (US).

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