New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microarray Global Market Report 2023" - https://www.reportlinker.com/p06486509/?utm_source=GNW
, 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. and CapitalBio Technology Co. Ltd.
The global microarray market is expected to grow from $4.36 billion in 2022 to $4.73 billion in 2023 at a compound annual growth rate (CAGR) of 8.55%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The microarray market is expected to reach $6.67 billion in 2027 at a CAGR of 8.93%.
The microarray market consists of revenues earned by entities by providing services such as genotyping and methylation array services, analytical protein microarray, functional protein array, reverse-phase protein array, and peptide microarray.The value of associated goods sold by the service provider or incorporated into the service providing is included in the market value.
The microarray market also includes sales of microarray slides or chips and priming, microarray fluorescence and colorimetric scanners, printers, hybridization stations or DNA and RNA assays, whole genome sequencing, cDNA Microarray, BAC microarray, oligo microarray, which are used in providing microarray services. The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the microarray market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of microarray are DNA microarray, protein microarray, and others.A DNA microarray refers to a cluster of small DNA spots adhered to a solid substrate, which is used to identify whether a gene mutation, such as those in BRCA1 or BRCA2, is present in the DNA of a certain person.
They are used for disease diagnosis, cancer genomic analysis, drug discovery, genomic sequencing, expression analysis, toxicological research, and other applications by the pharmaceutical industry, biotechnology industry, academic and research laboratories, and other end-users.
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, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations, the worldwide cancer burden had increased to 19.3 million cases and 10 million cancer deaths in 2020. Therefore, the rise in the incidence of cancer cases is driving the growth of the microarray market.
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 March 2020, Agilent Technologies Inc, a US-based healthcare company, launched three new microarrays to address the demands of cytogenetic labs doing both prenatal and postnatal research. According to the company, the chips have up-to-date, clinically applicable information from reputable databases and probes that can detect copy number variations and copy-neutral loss of heterozygosity in constitutional DNA samples that are linked to developmental delay, neuropsychiatric disorders, intellectual disability, congenital anomalies, or unexplained dysmorphic features with high resolution.
In September 2021, SCHOTT MINIFAB AG, a Germany-based manufacturer of microfluidic and microarray consumables, acquired Applied Microarrays (AMI) for an undisclosed amount.The acquisition is expected to enhance SCHOTT MINIFAB AG’s position as a leader in microarray consumables in the industry and expand its biosensor printing capabilities, which is especially crucial given the rising need for point-of-care microarray consumables, particularly for uses like the detection of infectious diseases.
This acquisition enables the delivery of a comprehensive, value-intensive, single-source collection of services and goods. Applied Microarrays is a US-based biotechnology company that manufactures DNA and protein microarrays and biosensors.
The countries covered in the microarray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The microarray market research report is one of a series of new reports that provides microarray market statistics, including the microarray industry’s global market size, regional shares, competitors with a microarray market share, detailed microarray market segments, market trends, and opportunities, and any further data you may need to thrive in the microarray industry. This microarray market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06486509/?utm_source=GNW
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