Microarray Analysis Market Set to Surge Past US$ 9.26 Billion by 2030 – Growth Plus Reports

Newark, New Castle, USA, March 29, 2023 (GLOBE NEWSWIRE) -- According to the latest analysis by Growth Plus Reports, the global is estimated to be worth US$ 9.26 billion by 2030, with a revenue CAGR of 7.60%. The report analyzes the key strategies, factors, prospects, competition, industry patterns, market size, financial information and forecasts, and potential business opportunities.

Key Takeaways:

• The increasing prevalence of cancer will drive market growth.

• Increasing funding for genomic research support the market's revenue growth.

• North America is likely to dominate the global market with the largest revenue share.

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Microarray Analysis Market Scope

Report Attribute	Details
Market size value in 2021	USD 4.79 billion
Revenue forecast in 2030	USD 9.26 billion
Growth Rate	CAGR of 7.6% from 2022 to 2030
Base year for estimation	2021
Forecast period	2022-2030
Segments covered	Products & Services, Type, Application, End User
Regional scope	North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Market Drivers
The growing prevalence of cancer is the primary factor driving the revenue growth of the microarray analysis market. Furthermore, the increasing use of microarray analysis in disease diagnosis & prognosis is expected to contribute to market revenue growth. Besides this, increasing R&D activities, rising funding for genomic research, and collaborations among research institutes and companies will boost market revenue growth. 

Market Segmentation
Growth Plus Reports has analyzed the global microarray analysis market from five perspectives: Products & Services, Type, Application, End User, and Region.

Products & Services Segmentation: Based on the products & services, the microarray analysis market is segmented into instruments, consumables, and software & services. The consumables segment dominates the market with the largest revenue share because of its high demand and regular bulk purchase due to the rise in research & development activities.

Type Segmentation: Based on the type, the microarray analysis market is segmented into DNA microarrays, protein microarrays, and others. The DNA microarrays segment dominates the market with the largest revenue share because of its growing applications in genomics research, identifying drug candidates, and somatic cancer mutations.

Application Segmentation: Based on the application, the microarray analysis market is segmented into research, diagnostics, drug discovery, and other applications. The research segment dominates the market with the largest revenue share because of rising research studies in genomics, proteomics, cancer diagnostics, and drug development.

End-User Segmentation: Based on the end-user, the microarray analysis market is segmented into pharmaceutical & biotechnology companies, diagnostic laboratories, research & academic institutes, and other end users. The research & academic institutes segment dominates the market with the largest revenue share because of the widespread use of microarray technology in several research studies.

Regional Growth Dynamics
Based on the region, the global microarray analysis market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

North America dominates the global microarray analysis market with the largest revenue share. Rising funding for research studies, high usage of microarray technology for various genomic and proteomic research, a large number of research institutes, the existence of the leading microarray producers, and increased demand for novel drugs are attributed to North America's significant revenue share in the global market. 

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Competitive Landscape
The following companies are important players in the global microarray analysis market:

• Thermo Fisher Scientific Inc. 
• Illumina, Inc.
• PerkinElmer Inc. 
• Agilent Technologies, Inc.
• Arrayit Corporation
• Bio-Rad Laboratories, Inc.
• Microarrays Inc.
• Merck KGaA.
• Qiagen N.V.
• Danaher Corporation

There is moderate competition in the microarray analysis market. To introduce novel, the giants invest in research and development. Major companies use mergers and acquisitions to enhance their market share.

Recent developments:

• Oxford BioDynamics Plc and Agilent Technologies signed a supply and resale agreement in March 2021 to manufacture and distribute the new EpiSwitch Explorer Array Kit, a commercial microarray kit for high-resolution 3D genome profiling and biomarker discovery.

• PathogenDx, Inc. got an Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) in April 2021 for their patented COVID-19 multiplexed viral diagnostic assay, DetectXRv. DetectXRv is an RT-PCR and DNA microarray hybridization test designed to detect nucleic acids from SARS-CoV-2.

Table of Content

1. INTRODUCTION

1. 1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
   3. Currency Used in the Report

2. RESEARCH METHODOLOGY 

2. 1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions

3. PREMIUM INSIGHTS

3. 1. Current Market Trend (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021)

4. MARKET DYNAMICS

4. 1. Drivers
   2. Restraints/Challenges
   3. Opportunities

5. GLOBAL MICROARRAY ANALYSIS MARKET - ANALYSIS & FORECAST, BY PRODUCTS & SERVICES

5. 1. Instruments
   2. Consumables
   3. Software & Services

6. GLOBAL MICROARRAY ANALYSIS MARKET - ANALYSIS & FORECAST, BY TYPE

6. 1. DNA Microarrays
   2. Protein Microarrays
   3. Other Microarrays

7. GLOBAL MICROARRAY ANALYSIS MARKET - ANALYSIS & FORECAST, BY APPLICATION

7. 1. Research Applications
   2. Diagnostic Applications
   3. Drug Discovery
   4. Other Applications

8. GLOBAL MICROARRAY ANALYSIS MARKET - ANALYSIS & FORECAST, BY END USER

8. 1. Pharmaceutical & Biotechnology Companies
   2. Diagnostic Laboratories
   3. Research & Academic Institutes
   4. Other End Users

Microarray Analysis Market TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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