Press release
Microarray Analysis Market Will Reach USD 9,011.1 Million By 2030 | P&S Intelligence
This growth can be credited to the rising application extent of microarrays, several government steps for proteomic and genomic research, and the increasing occurrence of cancer. Microarray analysis is commonly utilized in medicinal screening, toxicology screening, and biomarker identification to detect mutation in the DNA. Furthermore, microarray analysis can also be utilized for showing several genetic factors at the same time, which is one of its major benefits.
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In 2021, worldwide, North America held the largest market share, at approximately 40%. It is projected to experience significant development in the coming few years, credited to the fact that governments in Canada and the U.S. are constantly growing their investment in cancer research.
During the forecast period, the consumables category will develop at the highest CARG, of above 10%, on the basis of product and service, credited to the increasing number of diagnostic labs and research centers using microarray analysis. Furthermore, the growing research on mRNA and DNA methylation boosts the consumption of consumables for functioning microarray analyses.
In 2021, the DNA microarrays category had the largest industry share, and the same category is projected to experience a CAGR of approximately 10% in the coming few years. This is mainly because DNA microarrays are utilized in clinical diagnostic tests for a count of illnesses.
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Moreover, they are also utilized to regulate which drug may be the finest prescribed to a precise patient, as genetic factor controls how the body manages the chemistry of medicines.
In 2021, research and academic institutes had the largest microarray analysis market share and are projected to generate revenue of USD 4.0 billion by 2030. The number of human genome study projects has amplified in recent years. Mainly, microarrays are utilized for the finding of cancer medications. Thus, the growing research and development expenditure in the healthcare industry is projected to boost the growth of the market.
After North America, Europe is the second-largest market, mainly because of its well-established healthcare sector, progressive R&D infrastructure, and convenience in getting associated products. The use of point-of-care testing for cancer discovery has amplified in recent years in the region, therefore boosting the microarray analysis growth of the market.
Top Companies in Microarray Analysis Market Are:
• Agilent Technologies Inc.
• Illumina Inc.
• GE Healthcare
• Merck KGaA
• Microarrays Inc.
• Bio-Rad Laboratories Inc.
• PerkinElmer Inc.
• Arrayit Corporation
• Applied Microarrays LLC
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Hence, the rising application extent of microarrays, several government steps for proteomic and genomic research, and increasing occurrence of cancer and also the usage of microarray analysis in medicinal screening, toxicology screening and biomarker identification to detect mutation in the DNA are the major factors propelling microarray analysis industry.
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Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://healthcarefuturetrends.blogspot.com
About P&S Intelligence
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
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