NEW YORK, Feb. 16, 2016 /PRNewswire/ -- The global gene expression analysis market is projected to grow at a CAGR of 9.3% from 2015 to 2020 to reach 5.30 billion by 2020.
The global gene expression analysis market is expected to witness moderate growth in the coming years. The availability of funding, growth in the number of cancer patients, strong focus on research, and the decreasing cost of sequencing are the major factors driving the growth of the gene expression analysis markets. The increasing focus on precision medicines and adoption amongst emerging countries provides attractive/lucrative growth opportunities for the market. However, the high cost of certain instruments poses as a market restraint while the currency devaluation in developing countries poses as challenge for the market.
In 2015, the services segment is expected to grow at the fastest CAGR from 2015 to 2020 in the global gene expression analysis market, by type. The insights obtained through gene expression profiling play a vital role in the advancement of disease diagnosis, drug discovery, and precision medicine. This is expected to boost the demand for gene expression profiling services in the coming years.
In 2015, North America is expected to account for the largest share of the global gene expression analysis market, followed by Europe, Asia, and the Rest of the World (RoW). Asia-Pacific is expected to be the fastest growing regional segment from 2015 to 2020. North America's large share is attributed to development of gene therapy in the U.S., and focus on gene expression studies to improve the quality of patient care. Increasing research activities on agriculture, government intervention to improve healthcare, and rising popularity of gene expression tests are the factors expected to augment growth in the Asia-Pacific region.
The market witnesses high competitive intensity, as there are few large players and several small players. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, geographic expansions, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Thermo Fisher Scientific, Inc. (U.S.), QIAGEN N.V. (Germany), Illumina, Inc. (U.S.), Bio-Rad Laboratories (U.S.), Agilent Technologies (U.S.), and PerkinElmer (U.S.). are few of the major players in the global gene expression analysis market.
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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market penetration, product development/innovation, market development, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the gene expression analysis market. The report analyzes the gene expression analysis market, by product, services, and by application
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the gene expression analysis market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various gene expression analysis markets across regions
- Competitive Assessment: In-depth assessment of market shares, and strategies of the leading players in the gene expression analysis market
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