Microarray Market to Reach $8.4 Billion, Globally, by 2031 at 7.8% CAGR: Allied Market Research

News provided by

Sep 14, 2022, 09:30 ET

Rise in number of on-going R&D activities, increase in government support for research and development activities and surge in healthcare expenditure drive the growth of the global microarray market.

PORTLAND, Ore., Sept. 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Microarray Market by Product & Services (Consumable, Instruments, Software and Services), by By Type (DNA Microarray, Protein Microarray, Other Microarray), by End User (Research and Academic Institutes, Pharmaceutical and Biotechnology Companies, Diagnostic Laboratories, Other End Users): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global microarray industry generated $3.9 billion in 2021, and is anticipated to generate $8.4 billion by 2031, witnessing a CAGR of 7.8% from 2022 to 2031.

Download Report (245 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/11552

Prime determinants of growth

Rise in number of on-going R&D activities, increase in government support for research and development activities and surge in healthcare expenditure drive the growth of the global microarray market. Furthermore, rise in incidence of cancer, the rapidly evolving information and software technology and emerging bioinformatics are considerably contributing toward the market growth. However, limitations of microarray analysis technology and lack of skilled professionals are hindering the microarray market growth. Conversely, the surge in applications of microarray technique in the medical field presents new opportunities in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a positive impact on the global microarray market, owing to an increase in demand for microarray technology to detect the molecular tests and for mapping COVID-19 antibody for Covid-19 infection.
Increase in the demand of COVID-19 vaccines led to the rise in the research and development activities during the Covid-19 pandemic. For instance, in April 2020, JPT Peptide Technologies (JPT) launched the ready-to-use peptide tools to study and profile the immune response towards SARS-CoV-2 infection. Further, in May 2020, the UC Irvine Vaccine R&D Center developed a way to test COVID-19 immunity against 34 coronavirus antigens, or 33 antigens.

The consumable segment to maintain its leadership status throughout the forecast period

Based on product & services, the consumable segment held the highest market share in 2021, accounting for nearly two-thirds of the global microarray market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 8.1% from 2022 to 2031. This is attributed to increase in number of on-going R&D activities, surge in government support for expenditure, increase in usage of instruments, and expected launch of pipeline products.

Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/request-for-customization/11552?reqfor=covid

The DNA microarray segment to maintain its lead position during the forecast period

Based on type, the DNA microarray segment accounted for the largest share in 2021, contributing to more than two-thirds of the global microarray market, and is projected to maintain its lead position during the forecast period. This is owing to increase in number of DNA analysis by microarray technology and surge in expenditure in research in the field of DNA microarray analysis. Moreover, the protein microarray segment is expected to portray the largest CAGR of 8.5% from 2022 to 2031, due to surge in demand for protein microarray analysis and increase in prevalence of diseases such as cancer.

The research and academic institutes segment to witness fastest growth during the forecast period

Based on end user, the research and academic institutes segment is expected to portray the largest CAGR of 8.5% from 2022 to 2031, owing to high incidence of diseases, increase in prevalence of chronic diseases, and rise in smoking of tobacco. The report also analyzes segments including pharmaceutical & biotechnology companies and diagnostic laboratories.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global microarray market, and is likely to dominate the market during the forecast period. This is due to the presence of large patient population, strong presence of key players, ease of products availability, well developed healthcare infrastructure, favorable expenditure policies in healthcare system and higher number of research, development & innovation activities in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 9.9% from 2022 to 2031. This is attributed to the increase in number of cancer affected population and rise in awareness related to microarray analysis in the region.

Purchase Inquire:
https://www.alliedmarketresearch.com/purchase-enquiry/11552

Leading Market Players: -

Agilent Technologies, Inc.
Arrayit Corporation
bioMérieux SA
Bio-Rad Laboratories Inc.
Danaher Corporation
Diasorin Group
GE Healthcare
Illumina, Inc.
Invitae Corporation
Merck KGaA
Microarray Inc.
NextGen Sciences
PathogenDx, Inc.
PerkinElmer Inc.
RayBiotech Life, Inc.
Schott Minifab
Thermo Fisher Scientific, Inc

Trending Reports in Healthcare Industry (Book Now with 10% Discount + Covid-19 scenario):

Medical Spa Market by Service (Body Shaping, Hair Removal, Facial Treatment, Tattoo Removal, Scars & Striae, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Surgical Equipment Market by Product (Sutures & Staplers, Handheld Surgical Instruments, Electrosurgical Devices, Others), Category (Reusable Surgical Equipment and Disposable Surgical Equipment), and Application (Neurosurgery, Plastic & Reconstructive Surgeries, Wound Closure, Urology, Obstetrics & Gynecology, Thoracic Surgery, Microvascular, Cardiovascular, Orthopedic Surgery, Laparoscopy, Ophthalmic Application, Veterinary Application, Dental Application, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

IVF Market in U.S. By Cycle Type (Fresh IVF Cycle, Thawed IVF Cycle and Donor egg IVF cycle) and End User (Fertility Clinics, Hospitals, Surgical Centers, and Clinical Research Institutes): Analysis and Industry Forecast, 2019-2027

Next Generation Sequencing Market by Product (Consumables, Platforms, Services and Nerve Blockers), Application (Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Agriculture and Animal Research, and Other Applications), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real Time Sequencing, and Other Technologies), and End User (Academic and Research Centers, Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, and Other End Users): Global Opportunity Analysis and Industry Forecast, 2021--2030

Intraocular Lens Market by Type (Monofocal Intraocular Lens, Premium Intraocular Lens), by Material (Polymethylmethacrylate, Silicone, Hydrophobic and Hydrophilic Acrylic Materials), by End User (Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, Eye Research Institutes): Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/