Microarray Market Size, Share, Top Key Players, Impacting Factors, Regional Outlook And Forecast To 2033

The microarray market size has grown strongly in recent years. It will grow from $4.73 billion in 2023 to $5.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to genomic research surge, rise in personalized medicine, pharmaceutical drug discovery, advancements in cancer research, biotechnology and life sciences expansion.

The microarray market size is expected to see strong growth in the next few years. It will grow to $7.35 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rapid growth in molecular diagnostics, emergence of precision medicine, increased adoption in agriculture, expansion of microbiome research, technological integration in healthcare. Major trends in the forecast period include enhancements in microarray data analysis tools, focus on biomarker discovery for neurological disorders, utilization in infectious disease research, adoption in functional genomics studies, increasing applications in drug discovery and development.

Market Overview -
Microarray refers to a common laboratory technique that includes adhering a variety of tens of thousands to millions of recognized nucleic acid fragments to a solid surface known as a chip. It is frequently used for a variety of applications in scientific and medical research, like detecting particular DNA sequences and assessing gene expression.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=10742&type=smp

Microarray Market Set To Grow As Incidence Of Cancer Cases Rises Globally
The rise in the incidence of cancer cases is expected to drive the growth of the microarray market in the future. Cancer refers to a condition when a few of the body's cells grow out of control and spread to other bodily regions. The increase in cancer cases is mostly driven by the increasing incidence of established cancer risk factors, exposure to specific chemicals, an aging population, and common cancers such as breast cancer, lung cancer, and bronchial cancer, where microarray allows researchers to identify changes in gene expression that may be associated with cancer. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization, it is estimated that about 9,910 children in the US under the age of 15 will be diagnosed with cancer and about 1,040 children under the age of 15 are expected to die from cancer in 2023. Therefore, the rise in the incidence of cancer cases is driving the growth of the microarray market.

Competitive Landscape -
Major companies operating in the microarray market report are Agilent Technologies Inc., Arrayit Corporation, Bio-Rad Laboratories Inc., Danaher Corporation, GE Healthcare Inc., Illumina Inc., Merck KGaA, Microarray Inc., PerkinElmer Inc., Thermo Fisher Scientific Inc., Molecular Devices LLC, BioMerieux Inc., RayBiotech Life Inc., Diasorin Group, NextGen Sciences Inc., PathogenDx Inc., Schott Minifab AG, Full Moon Biosystems Inc., CapitalBio Technology Co. Ltd., Roche Diagnostics, Biocare Medical, BioGenex Life Sciences Pvt. Ltd., BioGenomics Limited, BioMicro Systems Inc., Biostatus Limited, Biotechrabbit GmbH, Affymetrix Inc., F. Hoffmann-La Roche Ltd., SCIENION AG, INanoBio Inc.

Product Innovation As Key Players Introduce Advanced Solutions
Product innovation has emerged as a key trend gaining popularity in the microarray market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in August 2023, Thermo Fisher Scientific, Inc, a US-based supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical, and biotechnology services launched the Applied Biosystems CytoScan HD Accel array, a novel chromosomal microarray designed to improve productivity, efficiency, and profitability in cytogenetic research labs. This innovative array boasts an industry-leading two-day turnaround time, providing a significant advancement in the field. The Applied Biosystems CytoScan HD Accel array conducts a comprehensive analysis of the entire human genome. With enhanced coverage spanning over 5,000 critical genomic regions, it provides valuable insights into chromosomal variants. This advanced technology proves beneficial for a wide range of applications, including prenatal and postnatal research, as well as cancer-related studies.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/microarray-global-market-report

Key Segments -

The microarray market covered in this report is segmented -

1) By Type: DNA Microarray, Protein Microarray, Other Types
2) By Application: Disease Diagnosis, Cancer Genomic Analysis, Drug Discovery, Genomic Sequencing, Expression Analysis, Toxicological Research, Other Applications
3) By End-User: Pharmaceutical Industry, Biotechnology Industry, Academic and Research Laboratories, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.