The microarray global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Microarray Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The microarray market size has grown strongly in recent years. It will grow from $4.73 billion in 2023 to $5.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to genomic research surge, rise in personalized medicine, pharmaceutical drug discovery, advancements in cancer research, biotechnology and life sciences expansion.
The microarray market size is expected to see strong growth in the next few years. It will grow to $7.35 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rapid growth in molecular diagnostics, emergence of precision medicine, increased adoption in agriculture, expansion of microbiome research, technological integration in healthcare. Major trends in the forecast period include enhancements in microarray data analysis tools, focus on biomarker discovery for neurological disorders, utilization in infectious disease research, adoption in functional genomics studies, increasing applications in drug discovery and development.
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Scope Of Microarray Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Microarray Market Overview
Market Drivers –
The rise in the incidence of cancer cases is expected to drive the growth of the microarray market in the future. Cancer refers to a condition when a few of the body’s cells grow out of control and spread to other bodily regions. The increase in cancer cases is mostly driven by the increasing incidence of established cancer risk factors, exposure to specific chemicals, an aging population, and common cancers such as breast cancer, lung cancer, and bronchial cancer, where microarray allows researchers to identify changes in gene expression that may be associated with cancer. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization, it is estimated that about 9,910 children in the US under the age of 15 will be diagnosed with cancer and about 1,040 children under the age of 15 are expected to die from cancer in 2023. Therefore, the rise in the incidence of cancer cases is driving the growth of the microarray market.
Market Trends –
Product innovation has emerged as a key trend gaining popularity in the microarray market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in August 2023, Thermo Fisher Scientific, Inc, a US-based supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical, and biotechnology services launched the Applied Biosystems CytoScan HD Accel array, a novel chromosomal microarray designed to improve productivity, efficiency, and profitability in cytogenetic research labs. This innovative array boasts an industry-leading two-day turnaround time, providing a significant advancement in the field. The Applied Biosystems CytoScan HD Accel array conducts a comprehensive analysis of the entire human genome. With enhanced coverage spanning over 5,000 critical genomic regions, it provides valuable insights into chromosomal variants. This advanced technology proves beneficial for a wide range of applications, including prenatal and postnatal research, as well as cancer-related studies.
The microarray market covered in this report is segmented –
1) By Type: DNA Microarray, Protein Microarray, Other Types
2) By Application: Disease Diagnosis, Cancer Genomic Analysis, Drug Discovery, Genomic Sequencing, Expression Analysis, Toxicological Research, Other Applications
3) By End-User: Pharmaceutical Industry, Biotechnology Industry, Academic and Research Laboratories, Other End-Users
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Regional Insights –
North America was the largest region in the microarray market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global microarray market report during the forecast period. The regions covered in the microarray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the microarray market report are Agilent Technologies Inc., Arrayit Corporation, Bio-Rad Laboratories Inc., Danaher Corporation, GE Healthcare Inc., Illumina Inc., Merck KGaA, Microarray Inc., PerkinElmer Inc., Thermo Fisher Scientific Inc., Molecular Devices LLC, BioMerieux Inc., RayBiotech Life Inc., Diasorin Group, NextGen Sciences Inc., PathogenDx Inc., Schott Minifab AG, Full Moon Biosystems Inc., CapitalBio Technology Co. Ltd., Roche Diagnostics, Biocare Medical, BioGenex Life Sciences Pvt. Ltd., BioGenomics Limited, BioMicro Systems Inc., Biostatus Limited, Biotechrabbit GmbH, Affymetrix Inc., F. Hoffmann-La Roche Ltd., SCIENION AG, INanoBio Inc.
Table of Contents
1. Executive Summary
2. Microarray Market Report Structure
3. Microarray Market Trends And Strategies
4. Microarray Market – Macro Economic Scenario
5. Microarray Market Size And Growth
…..
27. Microarray Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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