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LONDON, GREATER LONDON, UK, July 22, 2024 /EINPresswire.com/ -- The global DNA microarray market is projected to grow from $3.02 billion in 2023 to $3.38 billion in 2024, at a CAGR of 12.0%. This growth is driven by factors such as pharmacogenomics, healthcare infrastructure development, collaborations and partnerships, cost reduction, and increased public awareness and education. The market is anticipated to reach $5.34 billion by 2028, growing at a CAGR of 12.1%. Key drivers for this growth include advancements in personalized medicine, the emergence of comparative genomic hybridization (CGH), expansion in agricultural genomics, regulatory approvals, and the rising prevalence of chronic diseases.
Rapid Adoption of Personalized Medicine Propels Market Growth
The rapid adoption of personalized medicine is expected to propel the growth of the DNA microarray market. Personalized medicine tailors medical treatment to the individual characteristics of each patient, considering genetic, environmental, and lifestyle factors to optimize therapeutic efficacy and outcomes. The growth of 'omics' technology, data integration, genetics, and awareness of tailored patient-specific medications and preventive actions have driven the emergence of personalized medicine. DNA microarrays enable personalized medicine by analyzing gene expression patterns, allowing tailored treatment plans based on an individual's genetic profile. For instance, in February 2024, the Personalized Medicine Coalition reported that the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to 6 in 2022.
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Key Players and Market Trends
Major companies operating in the DNA microarray market include Roche Holding AG, Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc., Illumina Inc., bioMérieux SA, Schott AG, Bio-Rad Laboratories Inc., QIAGEN N.V., Bioneer Corporation, CapitalBio Technology Co. Ltd., Eurofins Genomics LLC, Savyon Diagnostics Ltd., Oxford Gene Technology, Sengenics Corporation LLC, Affymetrix, BioCat GmbH, Scienion AG, LC Sciences, Arrayit Corporation, Akonni Biosystems Inc., Arraystar Inc., and Febit Holding GmbH. These companies are focusing on developing advanced technology that provides a two-day turnaround time to gain a competitive edge. For example, in August 2023, Thermo Fisher Scientific Inc. introduced the Applied Biosystems CytoScan HD Accel array, a new chromosomal microarray aimed at enhancing productivity, efficiency, and profitability in cytogenetic research labs with a leading two-day turnaround time.
Major Trends
The forecast period is expected to witness several major trends, including advancements in genomic research, increased funding for genomic studies, technological innovations, integration with other technologies, and continuous technological advancements. These trends are driving the rapid growth and adoption of DNA microarrays in various applications.
Segments:
• Type: Complementary DNA Microarrays, Oligonucleotide DNA Microarrays, Other Types
• Application: Gene Expression Analysis, Genotyping, Other Applications
• End-User: Pharmaceutical And Biotechnology Companies, Diagnostic Centers, Hospitals And Clinics, Academic And Research Institutes, Other End-Users
Geographical Insights: North America Leads, Asia-Pacific Fastest Growing
North America was the largest region in the DNA microarray market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare infrastructure, increasing research and development activities, and rising prevalence of chronic diseases.
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DNA Microarray Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The DNA Microarray Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on DNA microarray market size, DNA microarray market drivers and trends, DNA microarray market major players, competitors' revenues, market positioning, and market growth across geographies. The DNA microarray market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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