Microarray Market Size, Share & Analysis Report, 2021-2027
The global Microarray market gathered revenue around USD 3.10 billion in 2020 and market is set to grow USD 7.56 billion by the end of 2027 and is estimated to expand at a modest CAGR of 8.0% during the prediction period 2021 to 2027.
Growth Factors:
The market Microarrays have a wide range of applications and have found increasing usage in basic molecular biology, toxicological response profiling, pharmaceutical target screening, and biomarker identification. The ability of microarrays to facilitate analysis of thousands of genes at the same time has resulted in the success of this technology in the past few years.
Market drivers propelling market growth include a global rise in cancer cases and a wide range of applications of microarrays in sequencing, genome mapping, personalized medicines, and others. A rise in global R&D investments is also key in propelling growth as this would lead to a rise in the use of microarrays for research purposes to advance and improve in healthcare.
Microarrays have a wide range of applications such as research applications, drug discovery, disease diagnosis, genomic and proteomic research, plant and food research, agricultural research, among other applications. According to a report published by the American Academy of Neurology, chromosomal microarray analysis can be used to diagnose intellectual disabilities and disomic features, this test has also been recommended as a first line diagnostic test. Recent advances in proteomics and genomics coupled with human genome sequencing have led to an increase in several screenable drug targets. According to a report published by PNAS (Proceedings of the National Academy of Sciences of the United States of America), a miniature 3D cell culture microarray has been developed for high throughput toxicological assays.
The introduction of various types of array platforms offered by leading companies is also another factor anticipated to boost market potential. For instance, R&D Systems, a biological products company offers proteome profiler antibody array, a protein microarray used to measure over 119 proteins in one sample. With the use of this product, laboratory technicians do not need any specialized equipment additionally eliminating the need for western blot experiments.
In recent years, large scale market players have collaborated with small and medium scale companies to expand their existing product portfolio and geographical presence. For instance, in 2018, Merck signed an agreement with HistoCyte Laboratories Ltd., to distribute cell microarrays in the U.S. and other geographies thereby, facilitating researchers with a cost-effective and easy option.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Microarray market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Microarray market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 7.56 billion by 2027 |
| Growth Rate | CAGR of 8.0% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, type, application, end use And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Bio-Rad Laboratories; Agilent Technologies; Inc.; Thermo Fisher Scientific Inc.; Illumina; Inc.; PerkinElmer Inc.; Merck KGaA; GE Healthcare; Molecular Devices; LLC; Arrayit Corporation; Microarrays; Inc. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Microarray market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional Analysis:
The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, the North American region dominated the worldwide market with a market share of higher than 39%. The United States indicated the highest slice in North America principally due to heavy expenditure in microarray research and development and existence of skilled scientists. Moreover, early execution of latest healthcare technologies also supported the high market portion of the United States.
Europe was the subsequent significant market chiefly due to presence of key manufacturers. Growing focus on personalized medicines in the European region is also expected to boost the demand for microarray in the anticipated time-span. The Asia Pacific region is projected to grow at the highest CAGR of around 8.0% in the estimate period due to high prevalence of cancer. Africa, Middle East, and Latin American region will display noticeable growth.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Microarray Market include: Bio-Rad Laboratories; Agilent Technologies; Inc.; Thermo Fisher Scientific Inc.; Illumina; Inc.; PerkinElmer Inc.; Merck KGaA; GE Healthcare; Molecular Devices; LLC; Arrayit Corporation; Microarrays; Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Microarray market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Microarray market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Microarray markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Microarray market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers