Global Microarray Market is expected to grow at a CAGR of 8.21% during the forecast period from 2019-2025

As per the report published by Fior Markets, the global microarray market is expected to grow from USD 3.72 Billion in 2017 to USD 6.82 Billion by 2025, at a CAGR of 7.87% during the forecast period from 2018-2025.North America Emerged as the largest market for the microarray with a 35.26% share of revenue in 2017, followed by Europe.

"Global Microarray Market by Product & Service (Consumables, Instrument, Software&Services), Type, Application, End User, Regions",and Global Forecast 2018-2025.

DOWNLOAD FREE SAMPLE REPORT:https://www.fiormarkets.com/report-detail/375982/request-sample

Major players in the global microarray market are Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Molecular Devices, PerkinElmer Inc., Illumina, Inc., GE Healthcare, and Bio-Rad Laboratories Inc., Affymetrix, Inc, Sequenom, Inc., Roche NimbleGen,Applied Microarrays, bioMrieux SA, Discerna, Gyros AB, Luminex Corporation, NextGen Sciences, PLC., ProteoGenix.among others. Microarrays are increasingly being used in the diagnostics field. Thus to meet with demand firms are increasingly launching the microarray genetic testing products. For instance CombiMatrix in 2017, announced the launch of SNP microarray genetic diagnostic testing for intrauterine fetal demise (IUFD), commonly known as stillbirth genetic testing.

Product and services is segmented into consumables, instruments and software and services. Increasing application of microarrays in the various fields and the regular, repeated, & bulk purchases of consumables were the factors that propelled consumables segment to dominate the global microarray market with a 42.81% share of revenue in 2017. Type segment is divided into DNA microarrays, protein microarrays, and others. DNA microarray technology is increasingly being utilized for the applications such as drug discovery, genomic and cancer research, personalized medicine, and genetic disease diagnosis. Thus DNA microarray segment emerged as the leading segment with a 38.73% share of revenue in 2017. Application segment is categorized into research applications, disease diagnostics, drug discovery, and others. Upward growth in the government and institutional funding for the genetic, protemic and genomic research boosted research application segment to emerged as the leader with a 31.57% share of market revenue in 2017. On account of immense application value of microarrays for measuring the expression patterns of thousands of genes to identify appropriate targets for therapeutic intervention, drug discovery application segment is expected to grow at the fastest CAGR of 9.98% over the forecast period. End user is segmented into research and academic institutes, pharmaceutical and biotechnology companies, diagnostic laboratories, and others. Growing financialexpenditure on the pharmaceutical research is projected to fuel the pharmaceutical end use segment to grow at an increased CAGR of 10.12% over the forecast period. Research and academic institutions segment led the global microarray market with a 40.38% share of revenue in 2017.

BROWSE COMPLETE REPORT AND TABLE OF CONTENTS:https://www.fiormarkets.com/report/global-microarray-market-by-product-service-consumables-375982.html

Increasing prevalence of cancer as well as growth in the funding for genomic research are driving the global microarray market. Whereas lack of skilled professionals and increasing adoption of next generation DNA sequencing techniques are anticipated to pose a major challenge for the market growth.

Customization of the Report:This report can be customized to meet the client's requirements. Please connect with our sales team (sales@fiormarkets.com), who will ensure that you get a report that suits your needs.

Contact Us

Mark Stone
Sales Manager
Office-102, Sanskriti Aspirations
Baner Road, Pune,
MH 411045
India
Phone: (201) 465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com

About Us:

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients' objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. We sell market research reports obtained from major publishers from various industries, in which a comprehensive overview of the market is provided along with statistical forecasts, strategic recommendations, detailed segmentation, current market scenario, competitive landscape and key trends.

This release was published on openPR.