Microarray Market to Record USD 1.21 Bn Growth | Almost 6% CAGR Projection Through 2025 | 17,000+ Technavio Reports
NEW YORK, Nov. 3, 2021 /PRNewswire/ -- The global microarray market is set to grow by USD 1.21 billion between 2020 and 2025, accelerating at a CAGR of almost 6% during the forecast period. The market is segmented by application (gene expression, disease diagnosis and drug development, and others) and geography (North America, Europe, Asia, and ROW). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
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Key takeaways from microarray market study
- Microarray market size to increase by USD 1.21 billion at almost 6% CAGR between 2020 and 2025
- 3.59% year-over-year growth expected in 2021
- 33% market growth to originate in North America during the forecast period
- Gene expression segment accounted for maximum growth in the market in 2020
- Dominant vendors include Agilent Technologies Inc., Arrayit Corp., Bio Rad Laboratories Inc., and others
Microarray Market: Growth Drivers and Restraints
The microarray market is driven by the increasing adoption of microarrays in genomics and proteomics. Microarray technology is increasingly becoming popular in the fields of genomics and proteomics in applications such as genotyping, mutation screening, protein interaction studies, and gene expression analysis. For instance, in genomics, the DNA microarray technology is used to create new gene expression patterns, expand gene family size, and discover new categories of genes. Microarray technology is also used to diagnose diseases, which helps medical professions in deciding better treatment strategies. Many such applications of microarrays are expected to drive the growth of the market during the forecast period.
"Although the increased prevalence of chronic diseases and growing applications of microarray technology in drug discovery will further boost the market growth, standardization and accuracy issues might reduce the growth opportunities for market players", says an analyst at Technavio.
The microarray market report answers questions such as:
- Is the market structure fragmented or concentrated?
- What was the market size in 2020 and the forecast of the microarray market through 2025?
- Which are the best segment areas to invest in over the forecast period?
- What is the market share of dominant and strong vendors in the microarray market?
- What are the latest trends and regulatory frameworks in the microarray market?
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Related Reports:
Global DNA Microarray Market – Global DNA microarray market is segmented by product (consumables and instruments), application (gene expression, disease diagnosis and drug development, and others), and geography (North America, Europe, Asia, and ROW).
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Global Microarray Biochips Market – Global microarray biochips market is segmented by application (drug discovery & development, diagnostics & treatments, research & consumables, forensic medicines, and others) and geography (North America, Europe, APAC, and ROW).
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Microarray Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of almost 6% |
Market growth 2021-2025 | USD 1.21 billion |
Market structure | Fragmented |
YoY growth (%) | 3.59 |
Regional analysis | North America, Europe, Asia, and ROW |
Performing market contribution | North America at 33% |
Key consumer countries | US, UK, Germany, China, and Canada |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Agilent Technologies Inc., Arrayit Corp., Bio Rad Laboratories Inc., Illumina Inc., Merck KGaA, Microarrays Inc., Molecular Devices LLC, PerkinElmer Inc., and Thermo Fisher Scientific Inc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Market Scope Table:
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing… View our microarray market snapshot to unlock TOC
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SOURCE Technavio
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