Gene Expression Analysis Market 2024: Strategies, Business Developments, and Growth Projections, Future Demands, Forecast to 2029

The global gene expression analysis market in terms of revenue was estimated to be worth $4.2 billion in 2024 and is poised to reach $6.2 billion by 2029, growing at a CAGR of 8.1% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The expansion of the market is primarily propelled by the rising prevalence of chronic diseases as gene expression analysis plays a crucial role in understanding the genetic basis of these diseases, enabling personalized medicine approaches for more effective treatments.. The rising pipeline of newer targeted drug therapies is also supporting the growth of this market.

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Key Market Players of Gene Expression Analysis Industry:

Key players in the gene expression analysis market are Thermo Fisher Scientific Inc (US), Bio-Rad Laboratories Inc. (US), Illumina Inc (US), QIAGEN (Netherlands), F. Hoffmann-La Roche (Switzerland), Revvity (US), PacBio (US), Agilent Technologies Inc (US), Oxford Gene Technology IP Limited (UK), BGI (China), Eurofins Scientific (Luxembourg), Standard BioTools (US), Oxford Nanopore Technologies plc (UK), GenScript (US), Takara Bio Inc (Japan), 10x Genomics (US), Zymo Research Corporation (US), Twist Bioscience (US), Promega Corporation (US), LGC Limited (UK), CD Genomics (US), NanoString Technologies Inc. (US), BioSpyder, Inc (US), Integrated DNA Technologies, Inc (US) and New England Biolabs (US).

Gene Expression Analysis Market Dynamics:

Drivers:

1. Advancements in gene editing technologies

2. Increasing funding initiatives for genomic research

3. Growing preference for therapeutic applications

4. Declining costs of sequencing technologies

Restraints:

1. High cost of instruments & consumables

2. Concerns associated with data privacy and security

Opportunities:

1. High growth potential across non-clinical applications

2. Machine learning and AI

3. Growing focus on single-cell analysis

Challenge:

1. Extensive timelines for product approval

2. Data interpretation challenges

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The assays & kits segment accounted for the largest share of reagents & consumables in the gene expression analysis market in 2023.

By reagents & consumables, the gene expression analysis market has been further categorized into assays & kits, enzymes, DNA chips, and others. Assays & kits accounted for the largest share of the gene expression analysis market in 2023. The increasing adoption of high-throughput technologies such as next-generation sequencing (NGS) and microarray analysis has boosted the demand for assays and kits. These technologies generate large amounts of data, and assays and kits help in streamlining the workflow, from sample preparation to data analysis.

The drug discovery & development application segment is expected to grow at a higher rate during the forecast period.

Based on technology, the gene expression analysis market has been segmented into drug discovery & development, clinical diagnostics, and other applications. In 2023, the drug discovery & development segment accounted for the largest share of the gene expression analysis market and is expected to grow at a higher growth rate during the forecast period of 2024-2029. The share share of drug discovery & development application is attributed to gene expression analysis is instrumental in the preclinical and clinical stages of drug development. In preclinical studies, researchers use gene expression profiling to assess the efficacy and safety of potential drug candidates. This helps in selecting the most promising candidates for further development, reducing the time and cost associated with drug discovery.

The pharmaceutical & biotechnology companies segment accounted for the largest share of the end user segment in the gene expression analysis market in 2023.

Based on end user, the gene expression analysis market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and other end users. In 2023, pharmaceutical & biotechnology companies accounted for the largest share of the gene expression analysis market. As the pharmaceutical & biotechnology companies heavily rely on understanding how genes are expressed in various disease states to identify potential drug targets. Gene expression analysis helps in pinpointing genes that are upregulated or downregulated in diseases, providing valuable insights into disease mechanisms and potential therapeutic interventions.

The North America region accounted for the largest share of the gene expression analysis market in 2023.

The gene expression analysis market is segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), the Middle East, and Africa. The North American region is observing rising investments in the field of drug discovery & development. Moreover, the need for advanced therapies due to the rising rate of chronic diseases such as cancer has contributed to the growth of the gene expression analysis market. The supportive government regulations in North America for the development of mAbs and biosimilars also contribute to market growth.

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Recent Developments of Gene Expression Analysis Industry:

In May 2023, Thermo Fisher Scientific and Pfizer collaborated to expand localized access to Next-generation Sequencing-based testing for cancer patients in over 30 countries across Latin America, Africa, the Middle East, and Asia.
In August 2022, Bio-Rad Laboratories Inc. acquired Curiosity Diagnostics to expand its capabilities by inculcating a new generation of rapid PCR systems into its product portfolio.
In April 2022, Illumina established a new state-of-the-art facility solution center in São Paulo, Brazil, to expand global access to genomics in Latin America. Illumina's revenue is majorly generated from markets across North America, Europe, the Middle East, and Africa.

Related Reports:

https://www.prnewswire.com/news-releases/gene-expression-analysis-market-worth-6-2-billion--marketsandmarkets-302086427.html

https://www.globenewswire.com/news-release/2024/06/12/2897686/28124/en/Global-Gene-Expression-Analysis-Market-Set-to-Reach-US-11-Billion-by-2032-A-CAGR-of-8-92-Forecasted-from-2023-2032.html

https://www.barchart.com/story/news/27219295/gene-expression-analysis-market-worth-62-billion-by-2029-marketsandmarkets

https://finance.yahoo.com/news/gene-expression-analysis-market-expected-123000363.html

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