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DNA Microarray Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033 | PerkinElmer Inc., Illumina Inc., bioMérieux SA, Schott AG, Scienion AG
DNA Microarray Market
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According to The Business Research Company's, The DNA microarray market size has grown rapidly in recent years. It will grow from $3.02 billion in 2023 to $3.38 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to pharmacogenomics, healthcare infrastructure development, collaborations and partnerships, cost reduction, and public awareness and education.
The DNA microarray market size is expected to see rapid growth in the next few years. It will grow to $5.34 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to growth in personalized medicine, the emergence of comparative genomic hybridization (CGH), expansion in agricultural genomics, regulatory approvals, and standards, and the rising prevalence of chronic diseases. Major trends in the forecast period include advancements in genomic research, increased funding for genomic studies, technological innovations, integration with other technologies, and technological advancements.
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Market Drivers and Trends:
The rapid adoption of personalized medicine is expected to propel the growth of the DNA microarray market. Personalized medicine tailors medical treatment to the individual characteristics of each patient, considering genetic, environmental, and lifestyle factors to optimize therapeutic efficacy and outcomes. Personalized medicine has emerged due to the rapid growth of 'omics' technology, data integration, genetics, and an awareness of the significance of tailored patient-specific medications and preventive actions. DNA microarrays enable personalized medicine by analyzing gene expression patterns, allowing tailored treatment plans based on an individual's genetic profile. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to 6 in 2022. Therefore, the rapid adoption of personalized medicine is driving the DNA microarray market.
Major companies operating in the DNA microarray market are focusing on developing advanced technology that provides a two-day turnaround time to gain a competitive edge. Microarray analysis offers a two-day turnaround time, ensuring swift and efficient results. This rapid processing accelerates research and clinical decision-making. For instance, in August 2023, Thermo Fisher Scientific Inc., a US-based biotechnology company, introduced the Applied Biosystems CytoScan HD Accel array, a new chromosomal microarray aimed at enhancing productivity, efficiency, and profitability in cytogenetic research labs with a leading two-day turnaround time. The CytoScan HD Accel array performs whole-genome analysis with improved coverage in over 5,000 key genomic regions, delivering insights on chromosomal variants for diverse applications in prenatal, postnatal, and oncology research.
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Major Key Players of the Market:
Roche Holding AG, Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., bioMérieux SA, Schott AG, Bio-Rad Laboratories Inc., QIAGEN N.V., Bioneer Corporation, CapitalBio Technology Co. Ltd., Eurofins Genomics LLC, Savyon Diagnostics Ltd., Oxford Gene Technology, Sengenics Corporation LLC, Affymetrix, BioCat GmbH, Scienion AG, LC Sciences, Arrayit Corporation, Akonni Biosystems Inc., Arraystar Inc., Febit Holding GmbH
DNA Microarray Market 2024 Key Insights:
• The DNA microarray market size is expected to see rapid growth in the next few years. It will grow to $5.34 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Personalized Medicine Drives DNA Microarray Market Growth
• Advancement In DNA Microarray Technology With Two-Day Turnaround
• North America was the largest region in the DNA microarray market in 2023
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