Microarray Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product & Services, by By Type, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

Microarray Market Research, 2031

The global microarray market size was valued at $3.9 billion in 2021, and is projected to reach $8.4 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031. Microarray is a technology in which a large number of nucleic acids are bound to a surface and are used to measure the relative concentration of nucleic acid sequences in a mixture via hybridization and subsequent detection of the hybridization events. It can be used to quantify an arbitrarily large number of different nucleic acid sequences in solution. The microarray analysis is mainly to measure the level of gene expression. It is also being used in combination with the chromatin immunoprecipitation to determine the binding sites of transcription factors. With the exception of DNA sequencing, microarrays were known to be the earliest technology that allowed biologists to vast amounts of complex digital data. Moreover, the access to the raw and processed data allows the others to perform analyses and meta analyses that the original data producers had not conceived. To address this issue of reproducible science and data exchange, the members of the Function Genomics Data Society created the MIAME (Minimum Information About a Microarray Experiment) standards for the description of microarray experiments.

The growth of the microarray market size is driven by increase in number of on-going R&D activities, increase in government support for research and development activities and increase in healthcare expenditure.

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 negatively impacting the microarray market growth. Conversely, the surge in applications of microarray technique in medical field offers the microarray market opportunity.

What is the Impact of COVID-19 Pandemic on Microarray Market?

The COVID-19 pandemic affected the microarray industry in a positive way, like various other diagnostics and biotechnology industries were affected. The COVID-19 has helped to increase the 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 has increased the research and development activities during Covid-19. It is due to the increase in cases of COVID-19 each day globally. Various companies adopted product launch to check the immune monitoring, diagnostics tests and vaccines development. For instance, in April 2020, JPT Peptide Technologies (JPT) has launched of 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 has developed a way to test COVID-19 immunity against 34 coronavirus antigens, or 33 antigens.

Microarray Market Segmentation

The microarray market is segmented into Product & Services, By Type and End User. Based on product & services, the market is classified into consumable, instruments, software and services. Furthermore, the consumable segment is sub-classified as research applications, drug discovery, disease diagnostics and other applications. Also, the instruments segment is sub-classified as research applications, drug discovery, disease diagnostics and other applications. The software and services segment is sub-classified as research applications, drug discovery, disease diagnostics and other applications. Based on type, the market is classified into DNA microarray, protein microarray, and other microarray. Based on end user, the market is classified into research and academic institutions, pharmaceutical and biotechnology companies, diagnostic laboratories, other end users. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).

Market by Product & Services Segment Review

By product & services, consumable segment is anticipated to grow with the largest microarray market share throughout the forecast period. This is attributed to increase in number of on-going R&D activities and surge in government support for expenditure. Recent advances in microarray technology have contributed to improve the demand for microarray analysis, thus driving the growth of the market.

[PRODUCT&SERVICESGRAPH]

Market by Type Segment Review

By type, the DNA microarray segment is anticipated to grow with the largest share throughout the microarray market forecast period. This is attributed to increase in number of DNA analysis by microarray technology and surge in expenditure in research in the field of DNA microarray analysis. Moreover, increase in the applications of microarray technology have contributed to improve the demand for microarray analysis, thus driving the growth of the market.

Market by End User Segment Review

By end user, other end users segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, due to increase in number of research institutions. In addition, increasing target geriatric population, exposure to harmful radiation and increasing governmental initiatives also contributed toward the growth of the market. 

Market by Region Review

North America accounted for the largest share of revenue in 2021, and is anticipated to maintain its dominance from 2021 to 2031, owing to presence of large patient population, strong presence of key players, ease of products availability, well developed healthcare infrastructure, favorable expenditure policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced products.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the microarray market analysis from 2021 to 2031 to identify the prevailing microarray market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the microarray market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global microarray market trends, key players, market segments, application areas, and market growth strategies.

  Microarray Market Report Highlights

Aspects	Details
By Product & Services	Consumable Application Research Applications Drug Discovery Disease Diagnostics Other Applications Instruments Application Research Applications Drug Discovery Disease Diagnostics Other Applications Software and Services Application Research Applications Drug Discovery Disease Diagnostics Other Applications
By Type	DNA Microarray Protein Microarray Other Microarray
By End User	Research and Academic Institutes Pharmaceutical and Biotechnology Companies Diagnostic Laboratories Other End Users
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest Of Europe) Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest Of Asia-Pacific) LAMEA  (Saudi Arabia, South Arabia, Rest Of LAMEA, Brazil)
Key Market Players	Thermo Fisher Scientific, Inc, Schott Minifab, RayBiotech Life, Inc., PerkinElmer Inc., bioMérieux SA, Diasorin Group, Merck KGaA, NextGen Sciences, PathogenDx, Inc., GE Healthcare, Agilent Technologies, Inc., Danaher Corporation, Illumina, Inc., Arrayit Corporation, Bio-Rad Laboratories Inc., Invitae Corporation, Microarray Inc.
Other Players	Luminex Corporation, NextGen Sciences.

Analyst Review

The microarray technology rests on the ability to deposit different DNA sequences on a small surface, usually a glass slide. The different DNA fragments are arranged in rows and columns such that the identity of each fragment is known through its location on the array.

North America accounted for the highest market share in 2021, due to presence of large patient population, strong presence of key players, ease of products availability, well developed healthcare infrastructure, favorable expenditure policies in healthcare system, higher number of research, development, & innovation activities and higher adoption of advanced products, followed by Europe and Asia-Pacific. Asia Pacific is expected to exhibit fastest market growth due to increase in incidence of cancer. Market players have focused on expanding their presence in emerging economies, which is anticipated to drive the market growth.

Author Name(s) : Avinash Gadekar | Roshan Deshmukh

Related Tags

• In Vitro Diagnostics Ivd
• Genomic Technologies
• Clinical Diagnostics
• Molecular Biology
• Diagnostic Testing