COVID 19 Impact Analysis: Microarray Analysis Market 2020: Opportunities, Size

Given the debilitating impact of COVID-19 (Coronavirus) on Microarray Analysis Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.

Microarray Analysis Market Insights:

Market Research Future (MRFR)’s report reveals that the global microarray analysis market is likely to strike a CAGR of 9.8% during the forecast period 2017 to 2023. The rising incidence of cancer has fueled demand for microarray analysis in the global market. According to a report published by the National Institute of Health (NIH), the estimated count of new cancer cases in the U.S. is likely to reach 1,735,350 mark by the end of 2018.

The growth trajectory of the microarray analysis market is guided by the rising burden of chronic diseases coupled with an increasing need for research in the pharmaceutical industry. Microarray analysis has improved results of genetic testing and is extensively used for diagnosis of infectious diseases which is prognosticated to expedite the expansion of the microarray analysis market over the assessment period.

Microarray analysis has led to significant development in the field of genetics which when coupled with high healthcare expenditure is projected to have a positive influence on the expansion of the microarray analysis market during the review period.

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Microarray Analysis Market Segmentation:

By technology, the global microarray analysis market is segmented into DNA microarray, PCR, NGS, SAGE, northern blotting, and others.

By consumables, the microarray analysis market has been segmented into DNA chips, DNA microarrays, protein microarrays, cellular microarrays, chemical compound microarrays, antibody microarrays, and others.

By services, the global microarray analysis market is segmented into gene profiling, bioinformatics, and others.

By applications, the microarray analysis market has been segmented into research, drug discovery, diagnostic and others.

Microarray Analysis Market Regional Outlook:

The microarray analysis market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to hold a dominant share of the market towards the end of the forecast period. The well-developed healthcare sector of the region is favoring the expansion of the microarray analysis market. Meanwhile, the rising incidences of cancer are further expected to expedite the proliferation of the microarray analysis market in the region.

Europe is an important growth pocket of the global market and is expected to witness significant growth over the next couple of years. The factors responsible for driving the growth of the region are exponential cancer patient pool, increasing need for better diagnostic treatment, government initiatives for research & development, etc.

Asia Pacific is likely to remain a highly lucrative market through the projection period. The boom witnessed in the healthcare sector of the region coupled with rising healthcare expenditure is expected to catapult the microarray analysis market on an upward trajectory over the next couple of years. Meanwhile, the Middle East & Africa is poised to register a slow growth rate owing to poor socio-economic conditions of the African regions.

Microarray Analysis Market Competitive Dashboard:

Some of the key players profiled in the report are QIAGEN (Germany), Agilent Technologies (US), Applied Micro Arrays (US), Merck Sharp & Dohme Corp (US), Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), Arrayit Corporation (US), BioGenex (US), PerkinElmer Inc. (US), and General Electric Company (UK).

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Microarray Analysis Industry News:

In September 2018, an international clinical diagnostics specialist, Novacyt’s molecular testing division, Primerdesign Ltd. has partnered with Applied Microarrays, Inc. (AMI), a specialist in microarrays.

In October 2018, a team of researchers led by a professor of Louisiana State University has developed an accessible way to test for the “BReast CAncer gene one.” He has proposed the use of portable fluorescence microarray-based imaging system called the FluoroZen for DNA microarray analysis.

In October 2018, TP Therapeutics, a clinical-stage precision oncology company has entered into an agreement with Almac Diagnostic Services, a global precision medicine company for development and commercialization of next-generation sequencing (NGS) companion diagnostic (CDx) for repotrectinib.

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Sapana Joined: March 13th, 2019