The most recent study conducted by Report Ocean, titled “Global Microarray Analysis Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Microarray Analysis. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Microarray Analysis Market Size study, By Product and Service (Consumables, Instruments, Software and Services), By Type (DNA Microarrays, Protein Microarrays, Other Microarrays), By Application (Research Applications, Drug Discovery, Disease Diagnostics, Other Applications), By End User (Research and Academic Institutes, Pharmaceutical and Biotechnology Companies, Diagnostic Laboratories, Other End Users), and Regional Forecasts 2022-2028Global Microarray Analysis Market is valued approximately USD 4.77 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2022-2028.
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Microarrays are an advanced molecular biology technique that is used for detecting the expression of numerous genes at the same time. Microarray analysis is a significant technique that uses gene chips that can tie more than a thousand RNAs at a time. Microarray analysis is majorly used to detect several types of cancer. The growing incidences of cancer, rising application areas of microarrays, coupled with the increasing availability of funding for proteomic and genomic research are the primary factors for the market growth across the globe. According to the national cancer institute, cancer is the major cause of death around the world. In 2018, there were nearly 18.1 million new cancer cases and 9.5 million cancer-related deaths occur globally. Also, the amount is likely to reach around 29.5 million new cases and 16.4 million cancer-related deaths by 2040.
However, the rising use of microarrays in personalized medicine and dearth of the skilled professionals impedes the growth of the market over the forecast period of 2022-2028. Also, increasing adoption of next-generation sequencing and growing fundings for R&D activities is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Microarray Analysis market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing adoption of novel technologies and the presence of the leading market players in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as growing incidences of cancer and other genetic diseases, as well as the availability of funding for the proteomics and genomics research, would create lucrative growth prospects for the Microarray Analysis market across the Asia-Pacific region.
Major market players included in this report are:
Thermo Fisher Scientific, Inc.
Agilent Technologies, Inc.
Molecular Devices LLC
PerkinElmer Inc.
Illumina, Inc.
GE Healthcare Company
Bio-Rad Laboratories Inc.
Microarrays, Inc.
Arrayit Corporation
Merck KGaA
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product and Service:
Consumables
Instruments
Software and Services
By Type:
DNA Microarrays
Protein Microarrays
Other Microarrays
By Application:
Research Applications
Drug Discovery
Disease Diagnostics
Other Applications
By End User:
Research and Academic Institutes
Pharmaceutical and Biotechnology Companies
Diagnostic Laboratories
Other End Users
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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