The global DNA microarray market was valued at almost $2 billion in 2015 and is expected to surpass $3 billion by 2020, says Technavio.
Technavio has announced its latest market research report on DNA microarray to its lab equipment portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global DNA microarray market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Agilent Technologies, Illumina, Merck Millipore, and Thermo Fisher.
In terms of geographical analysis, the Americas will be the largest region in the global market, reaching revenues of more than $2 billion by 2020. Brazil, Canada, and the US will emerge as the key revenue-generators.
“The growing awareness of genetic diseases helps in the development of personalized medicines and lead to the drug development in the DNA microarray market. The increased applications of these medicines increases the ability of DNA microarrays to perform genetic profiling of patients. Genetic profiling helps in understanding the risk of clinical outcomes and an individual’s response to specific drugs. The identification and assessing of the genetic composition of an individual plays a vital role in determining the health and susceptibility of severe diseases,” says Amber Chourasia, a lead analyst at Technavio for research on lab equipment.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Advances in technology
The vendors in the market are investing in latest and emerging technologies to provide solutions and produce results with high efficiency, accuracy, specificity, reproducibility in target identification, primary screening, and toxicity study in drug discovery and research. These solutions are used in clinics, commercial laboratories, and research institutions, and hospitals to detect DNA and proteins. The use of advanced technology aids in better disease diagnosis, drug discovery, and disease monitoring. The development of high-end DNA microarray products provides high accuracy and efficiency in clinical diagnostics. Advanced bioinformatics technology and products improve the analysis of data generated and help in accurate detection of single exon duplications and deletions within genes associated with various diseases.
Growing importance of DNA microarrays in therapeutics
The gene expression profiling methods using microarrays is extensively used in cancer research by diagnostic and pharmaceutical companies. This method helps in distinguishing normal and cancerous tissues and in evaluating cell lines during the initiation and progression of cancers in human tissues. It is used to predict the accurate tissue origin of a particular cancer type and derive gene expression profiles for their diagnosis. This method is also used to detect signs of other diseases that includes diabetes, cardiovascular disorders, and Alzheimer’s disease.
Rise in strategic initiatives by vendors
Vendors are forming strategic partnerships to promote and develop DNA microarray products to increase their sales to meet the rising demand from various end-user industries. The collaborations among the players help increase the customer base, gives access to advanced technologies, better financial capability, and superior research and development activities. This partnership helps the vendors increase their market share and strongly establish their presence in the DNA microarray market. The strategic initiatives taken up by vendors in the market has helped in expanding product portfolio with different technologies and new features.
Other prominent vendors identified in this report are Applied Microarrays, Arrayit, AXO Science, BioCat, BioGenex Laboratories, Biometrix Technology, Cepheid, GE Healthcare, InDevR, LC Sciences, PerkinElmer, Phalanx Biotech, QIAGEN, Takara Bio, and US Biomax.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global DNA Microarray Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global FISH Probe Market 2016-2020
- Global Biochips Market 2016-2020
- Global Microarray market 2015-2019
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