Microarray Analysis Market Overview:

According to MRFR analysis, the global microarray analysis market is expected to register a CAGR of 7.76% from 2020 to 2027 and hold a value of USD 6,607.64 million by 2027. A microarray can be defined as a multiplex lab-on-a-chip that has a two-dimensional array on a solid substrate to perform tests for various end users. It enables researchers to investigate and address subjects that were often counted as non-traceable. The process allows quick analysis of an expression of many genes quickly but with great efficiency. The process involves the hybridization of an mRNA molecule and the DNA template from which the mRNA has been collected. Collection of multiple samples form an array.

The global microarray analysis market trends is driven by several factors, such asthe increasing prevalence of cancer and the rising need for research in pharmaceutical industries. In addition, growing prevalence of different chronic diseases,increasing healthcare expenditure, use of this technique to diagnose infectious diseases, development in the field of genetics, are also driving the market.

Microarray Analysis Market Segmentation:

The study on the global market for microarray analysis can be formed by including segments like application, type, product type, type of microarray and end-user. These segments are carriers of various factors that can be explored in the coming day for better understanding of the global market.

• By type, microarray analysis market report can be segmented into chemical compound microarrays, tissue microarrays, glycan arrays, protein microarrays, phenotype microarrays, DNA microarrays, and cellular microarrays. The segment for DNA microarrays has the largest market share as its extensive use in diverse applications like pharmaceuticals, hospitals & clinics, diagnostic centers, ambulatory care centers, academic & research institutes, and biotechnology can impact the market notably.
• By application, microarray analysis market share integrated drug discovery, disease diagnosis, research, genotyping, genomics, forensic analysis, proteomics, and toxicological research. The drug discovery segment has the better opportunity to score the highest CAGR during the review period due to growing need for personalized drug.
• By product type, microarray analysis market includes reagent kits, reagents, DNA chips, instruments, primers, and buffers. The instrument segment covers Multi-Channel (MC) instrument, hybridization oven, centrifuge, scanner, target preparation instrument, slide imprinters, and others.
• By end-users, microarray analysis market comprises academic & research institutes, pharmaceuticals, diagnostic centers, hospitals & clinics, biotechnology, ambulatory care centers, and others.

Microarray Analysis Market Key Players:

Some of the key players operating in the microarray analysis market are Agilent Technologies (US), Bio-Rad Laboratories (US),Illumina, Inc. (US),Thermo Fisher Scientific (US), and PerkinElmer, Inc (US).

Microarray Analysis Market Regional Analysis

The global microarray analysis market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

On regional basis, the Americas is anticipated to dominate the global microarray analysis market.The Americas accounted for the largest market share in 2019 and is likely to continue to command the market during the forecast period due to the increasing adoption of new technologies and the presence of major players in the region. The North America market comprises the US and Canada. The increasing prevalence of cancer and the growthin funding for research and development in this region are key factors supporting the growth of the microarray analysis market in North America. For instance, in 2019, the National Institute of Cancer received funding of around USD 42.1 for cancer research.

On the other hand, Europe is expected to hold the second-largest position in the global microarray analysis marketdue tothe highly developed healthcare industry, prominent research & development infrastructure, and accessibility of products.

Asia-Pacific is anticipated to be the second-fastest-growingmarket globally due to the rising geriatric population and increasing prevalence of chronic diseases like cancer, which led to the adoption of precision medicines. Microarrays are used for the analysis of genome sequencing in precision medicine.

The Middle East & Africa microarray analysis market is segmented into the Middle East and Africa. The Middle East & Africa is expected to depict the least share in the market throughout the forecast period due to underdeveloped research, lack of awareness among consumers, and low disposable income facilities in African countries.

The key players have adopted the strategy ofproduct launches,acquisitions, and signing contracts and agreements for expandingthe regional reach and optimized operational costs. For instance, in August 2019, Agilent Technologies acquired Lionheart Technologies LLC (BioTek), a recognized player globally in designing, manufacturing, and distributing innovative life science instrumentation. Its comprehensive product line includes microplate readers, cell imaging systems, washers, automated incubators,dispensers, and stackers.

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