PUNE, India, January 28, 2016 /PRNewswire/ --
According to a new market research report "Gene Expression Analysis Market by Technology (DNA Microarray, PCR, NGS, SAGE, Northern Blotting), Consumables (DNA Chips, Reagents), Services (Gene Profiling, Bioinformatics) & Applications (Research, Drug Discovery, Diagnostic) - Global Forecasts to 2020", published by MarketsandMarkets, This report studies the global market for the forecast period of 2015 to 2020. This market is expected to reach USD 5.30 Billion by 2020 from USD 3.39 Billion in 2015, at a CAGR of 9.3%.
Browse 96 market Tables and 42 Figures spread through 174 Pages and in-depth TOC on "Gene Expression Analysis Market "
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Factors such as availability of funding, growing number of cancer patients, strong focus on research, and decreasing cost of sequencing are driving growth in this market. Furthermore, increased focus on personalized medicines and room for market penetration in emerging nations is expected to create an array of opportunities for players in the gene expression analysis market.
The global gene expression analysis market is segmented on the basis of consumables, instruments, services, applications, and region.
Based on consumables, the market is categorized into reagents and DNA chips. In 2015, the reagents segment accounted for the larger share of the gene expression analysis consumables market. The high growth and dominant market size of the reagents segment can be attributed to the increased number of gene expression analysis instrument installations, favorable funding scenario promoting research initiatives, and growing number of sequencing services centers
On the basis of instruments, the market is segmented based on technology such as PCR, NGS, DNA Microarray, SAGE, and Northern Blotting. The PCR segment accounted for the largest share of the gene expression analysis in 2015. However, the NGS segment is expected to be the fastest growing segment from 2015 to 2020. Factors such as the need to enhance knowledge of DNA sequences, wide application base, continued technological advancements aimed at improving the speed and throughput, and increase in large-scale gene expression studies are driving growth of the NGS segment.
Based on services, the market is segmented into gene expression profiling services and bioinformatics solutions. The gene expression profiling services segment accounted for the largest share of the gene expression analysis market in 2015. The gene expression profiling services segment is also expected to be the fastest growing segment from 2015 to 2020. The insights obtained through gene expression profiling plays 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.
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The market on the basis of application is categorized into research, drug discovery, diagnostic, and others. Others comprise of animal research, agricultural research, and forensics. In 2015, the research segment accounted for the larger share of the gene expression analysis market and expected to grow at the fastest rate during the forecast period. The large share of the research segment can be attributed to the availability of funding for research at institutional and academic level.
On the basis of regions, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, and the Middle East & Africa). In 2015, North America accounted for the largest share of the gene expression analysis market, followed by Europe and Asia. Asia-Pacific is expected to grow at the fastest rate during the forecast period. Growth in this region can be attributed to increasing research activities on agriculture, government intervention to improve healthcare, and rising popularity of gene expression tests.
However, the high cost of the major gene expression analysis instruments is a major concern, which limits market growth to a certain extent. Also, the currency devaluations in developing countires are expected to pose as a key challenge to the growth of the gene expression analysis 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 some of the major players in gene expression analysis market.
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