Global DNA Microarray Market to Grow at a CAGR of 10.6% Until 2027
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 4.20 billion
• Forecast CAGR (2022-2027): 10.6%
• Forecast Market Size (2026): USD 7.67 billion
The global market for DNA microarray is driven by the surging adoption of genetic testing in the pharmaceutical and biotechnology industry. The surging investment in research and development across the healthcare industry and rising per-capita healthcare expenditure. Is further expected to propel the DNA microarray market growth across the globe.
Rapid growth in the healthcare infrastructure is expected with surging innovative technology that has the potential to support swift and cost-effective screenings for any mutation possible, along with sequence variations in genomic DNA. These screenings are further expected to drive the market of DNA microarray.
DNA Microarray Industry Definition and Major Segments
A useful too, DNA microarrays are employed to confirm whether the DNA from a specific individual incorporates a mutation in genes such as BRCA1 and BRCA2. There is a chip that comprises of a small plate of glass wrapped in plastic. There are multiple microscopic DNA points that are collected onto a solid surface to create the DNA microarray.
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By type, the DNA microarray market is divided into:
• Complementary DNA Microarrays
• Oligonucleotide DNA Microarrays
Based on product outlook, the market is categorised into:
• Software and Services
On the basis of end user, the market is segregated into:
• Hospitals and Clinics
• Diagnostic Centres
• Academic and Research Institutes
• Biotechnology and Pharmaceutical Industries
By application, the market is segmented into:
• Transcription Factor Binding Analysis
• Gene Expression Analysis
At a regional level, the market is divided into:
• Latin America
• North America
• Asia Pacific
• Middle East and Africa.
DNA Microarray Market Trends
The DNA microarray market across the globe is expected to witness significant growth during the forecast period on account of the increasing investment in technological advancements in genomics. Going further, the high presence of key players like Illumina, Inc., and Thermo Fisher Scientific Inc., among others in the regions like North America is further anticipated to fuel the market growth over the coming years.
Geographically, the Asia Pacific region is likely to witness growth in the market of DNA microarray as the region holds the largest base for clinical trials and drug discovery. Additionally, the region has a growing patient population which is further expected to propel the market growth of DNA microarray.
Key Market Players
Some major players in the market:
• Illumina, Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies, Inc.
• Arrayit Corporation
• Savyon Diagnostics
• SCIENION GmbH
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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