Gene Expression Market Outlook Global Overview by Top Brands - BIO-RAD LABORATORIES, GE HEALTHCARE, LIFE TECHNOLOGIES, PERKINELMER, QIAGEN, ROCHE DIAGNOSTICS, AFFYMETRIX

The global gene expression analysis market for the period 2018-2023 is expected to account high CAGR of 5.8%. Gene expression profiling is the measurement of the activity (the expression) of thousands of genes at once, and creates a global picture of cellular function.

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Growth in Personalized Medicine
Personalized medicine, the ability to tailor diagnostic and treatment decisions for individual patients, is seen as the evolution of modern medicine. Diagnosis, treatment, and lifestyle interventions will be increasingly personalized to individual patient genetics, family history and other factors. Technologies are making it easier for healthcare professionals to track patient health information and provide personalized care. Personalized medicine is becoming more popular with the growing number of genetic disorders. Also, the increasing awareness about such a form of treatment will help drive the market to quite a high growth rate in the future. The growing technological advancement such as NGS and molecular services are augmenting the demand for gene expression services. Additionally, development of genomic databases, increased government funding towards genomics, and growth in personalized medicine are likely to drive the market.

Key Developments in the Market
February 2018: FDA Cleared Roche Factor II, Factor V Gene Mutation Test for Inherited Thrombophilia. Factor V test for use on the Cobas 4800 system, which performs real-time PCR analysis for mid- to high-volume labs

Major Players:
BIO-RAD LABORATORIES, GE HEALTHCARE, LIFE TECHNOLOGIES, PERKINELMER, QIAGEN, ROCHE DIAGNOSTICS, AFFYMETRIX, amongst others.

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Lack of Skilled Labor
Accessibility of skilled labor is vital for innovation in firms. The contribution of skilled labor can lead to innovation and growth by generation new knowledge and developing incremental innovations, Although, educational attainment has risen steadily in OECD countries in past decades, innovating firms still suffer from a shortage of skilled labor, inhibiting their capacity to innovate. This trend is common in the gene expression analysis market. This, along with other factors, such as, high cost of instruments will lead to the decline of the market in the forecast period.

North America to Dominate the Market
North America accounted for the largest share of the gene expression analysis market and is expected to grow at the fastest rate during the forecast period. Growth in this region can be attributed to increasing research activities on agriculture, government intervention to improve healthcare, and rising popularity of gene expression tests. Asia-Pacific is also expected to witness high growth owing to growing investment from governments in the field of genomics.

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This release was published on openPR.