Microarray Analysis Market Size to Hit ~US$ 9.26 billion by 2030 | CAGR 7.6%| Growth Plus Reports

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Aug 03, 2022, 09:00 ET

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- The global microarray analysis market is expected to clock ~US$ 9.26 billion by 2030, owing to the growing applications of microarray analysis in disease diagnosis & prognosis and the rising funds for genomic research.

Market Driver

In the recent years, there have been advancements in the microarray technology which has enabled to obtain more accurate and precise results. This has led to the rising adoption of microarray in the research studies. Private-public organizations are increasingly offering funding to support the research activities. For instance, in July 2020, the National Institutes of Biomedical Imaging and Bioengineering, National Institutes of Health, Department of Health and Human Services funded PathogenDx, an Arizona based technology company developing a multiplexed microarray DNA-based pathogen testing platform. These funds will be used to complete the development and validation of their DetectX-Rv Microarray Assay for COVID-19. Such fundings are anticipated to provide the necessary impetus for the market growth.

the global microarray analysis market has been analyzed from five perspectives: products & services, type, application, end user, and region.

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Excerpts from 'By Type Segmentation'

Based on type, the global microarray analysis market has been segmented into:

DNA Microarrays
Protein Microarrays
Other Types

DNA microarrays segment accounted for the largest share of the microarray analysis market. The major factors attributing to the growth of the segment include the growing applications of DNA microarray in the genomics research, identifying drug-candidates, somatic mutations in cancers as well as understanding the molecular biology of disease that helps in disease diagnosis. Moreover, increasing use of the DNA microarray analysis in toxicogenomic studies is also propelling the growth of the DNA microarrays market. Advancements in DNA microarray and growing investment in R&D by many key players to develop efficient and accurate DNA microarray are the key factors anticipated to drive the DNA microarray market.

Excerpts from 'By Region Segmentation'

Regionally, the global microarray analysis market has been segmented into:

North America
Europe
Asia Pacific
Rest of the World

North America dominated the market for microarray analysis holding the largest revenue share during forecast period. The major factors driving the growth of microarray analysis market in this region include the greater private-public funding for research studies and high usage of microarray technology for various genomic and proteomic research. Moreover, large number of research institutes and the presence of the leading microarray manufacturers are also propelling the microarray analysis market growth in this region.

High awareness about the increased application of DNA microarray in Europe is expected to drive the DNA microarray market growth during the forecast period. The DNA microarray market in Asia Pacific and Latin America is expected to grow rapidly due to the increasing prevalence of various chronic diseases and cancers, growing number of contract research organizations as well as the growing adoption of DNA microarray technology. Growing unmet needs for disease diagnosis in the Middle East and Africa are expected to drive DNA microarrays market growth during the forecast period.

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Excerpts from 'Competitive Landscape'

The prominent players operating in the global microarray analysis market include:

Thermo Fisher Scientific Inc
Illumina, Inc
PerkinElmer Inc
Agilent Technologies, Inc
Arrayit Corporation
Bio-Rad Laboratories, Inc
Microarrays Inc
Merck KGaA
Qiagen N.V
Danaher Corporation
Among others

Players in the microarray analysis market are adopting various inorganic growth strategies such as collaboration or partnership.

For instance, Mobidiag Ltd., a molecular diagnostics company, announced the completion of a EUR10 million equity investment from Autobio Diagnostics in February 2019.

The equity investment proceeds will be used to accelerate the development of Novodiag, an innovative molecular diagnostic platform that combines microarray and real-time PCR technologies.

Report Scope & Segmentation:

Report Coverage	Details
Market Size in 2021	USD ~ 4.79 billion
Revenue forecast in 2030	USD ~ 9.26 billion
Growth Rate	CAGR of ~ 7.6% from 2022 to 2030
Base year for estimation	2021
Forecast period	2022-2030
Segments covered	Products & Services, Type, Application, End User
Regional scope	North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Microarray Analysis Market segmentation:

Products & Services Outlook (Revenue, USD, 2030)

Instruments
Consumables
Software & Services

Type Outlook (Revenue, USD, 2030)

DNA Microarrays
Protein Microarrays

Application Outlook (Revenue, USD, 2030)

Research Applications
Disease Diagnostics
Drug Discovery

End User Outlook (Revenue, USD, 2030)

Pharmaceutical & Biotechnology Companies
Diagnostic Laboratories
Research & Academic Institutes

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

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