The study on the global market for Microarray evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market for Global Microarray significantly. The expansion in the various related industry is also expected to reflect positively on the sales of Global Microarray product over the next few years.
Global Microarray Market is valued approximately at USD 4.0 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 9.0% over the forecast period 2019-2026. A microarray is a laboratory tool which is used to detect the expression of thousands of genes at the same time. It is a collection of microscopic feature (most commonly DNA) that can be probed with target molecules in order to produce either qualitative (diagnostic) or quantitative (gene expression) data.
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This tool is broadly utilized for medical treatment and diagnosis, biotechnological and several other researches, as well as in forensic investigations. It can be used for many micro molecules such as RNA, DNA, enzymes, proteins, tissues and carbohydrates. Also, it can be used for biomarker profiling, gene expression profiling, molecular interactions, mutations, pathway identification and enzyme activity. Increasing prevalence of cancer worldwide as well as growth in the funding for genomic and proteomic research are the few factor responsible for high CAGR of the market over the forecast period. For instance, in 2018, it was estimated that there were 9.5 million cancer deaths and 17.0 million new cancer cases worldwide. The global burden of cancer is expected to grow to 16.3 million cancer deaths and 27.5 million new cancer cases by 2040 due to the growth and aging of the population, according to the International Agency for Research on Cancer (IARC). Since the prevalence of cancer is on surging trend thereby, the need for microarray has also increased due to it is fast, accurate, cost-effective and easy to do assay design therefore, facilitating high growth of the market across the globe. Moreover, growing utilization of microarrays in personalized medicine along with increasing research and development activities is the major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, strict government regulations and lack of skilled professionals are few factors anticipated to hampering the growth of global microarray market during the forecast period. Other factor that can also hinder the growth of the market is rapid advances in Next-Generation Sequencing (NGS), which facilitated NGS to be a highly cost-effective and accurate alternative all over the world.
The regional analysis of global Microarray Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in the prevalence of cancer and genetic diseases along with improved healthcare infrastructure in this region, which create demand for microarray. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising funding from the government in the healthcare sector, improving healthcare infrastructure, and growing drug discovery & development activities that would create lucrative growth prospects for the Microarray Market across North American region.
Major market player included in this report are:
Thermo Fisher Scientific, Inc.
Agilent Technologies, Inc.
Molecular Devices, LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Software & Services
By End Use:
Research & Academic Institutes
Pharmaceutical & Biotechnology Companies
Others End Users
Analysis of regional landscape:
- Based on geographical terrain, the Microarray market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
- A performance summary of each region..
- Insights into the total sales, growth rate, and revenue generated by each geography is provided.
Key Questions Answered in Microarray Market Report:
- What is the size and CAGR of the global Market?
- What are the key driving factors of the most profitable regional market?
- Which are the leading segments of the global market?
- How will the global market advance in the coming years?
- What are the main strategies adopted in the global market?
- What is the nature of competition in the global market?
Summary of the regional outlook documented in this report:
- Consumption pattern and consumption rate with respected to each region.
- Predicted consumption rates over the forecast period.
- Market forecasts of key regions are detailed in the report.
- Consumption market share solely based on the regional contribution.
- Market share held by the listed geographies.
COVID-19, the disease it causes, surfaced in late 2019, and now had become a full-blown crisis worldwide. Over fifty key countries had declared a national emergency to combat coronavirus. With cases spreading, and the epicentre of the outbreak shifting to Europe, North America, India and Latin America, life in these regions has been upended the way it had been in Asia earlier in the developing crisis. As the coronavirus pandemic has worsened, the entertainment industry has been upended along with most every other facet of life. As experts work toward a better understanding, the world shudders in fear of the unknown, a worry that has rocked global financial markets, leading to daily volatility in the U.S. stock markets.
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