Market Research Future (MRFR) says that the global gene expression analysis market could hold the value of USD 3.250 million by 2023. The market could also achieve a CAGR of 9.1% during the forecast period (2018-2023).
Growth Boosters and Key Restraints
Personalized medicine, with its ability to affect diagnostic and treatment decisions for every patient, has brought an evolution in modern medicine. Diagnosis, treatment, as well as lifestyle interventions, have now become progressively personalized to every patient genetics, family history along with other factors.
Technologies have made it easier for healthcare professionals to track every patient’s health information and offer personalized care. Personalized medicine has gained immense traction as a result of the boost in the number of genetic disorders. Additionally, the mounting awareness about this form of treatment will drive the market in the near future. The rising technological advancement including molecular services and NGS are uplifting the demand for gene expression services. This factor will ensure the success of the gene expression analysis market during the evaluation period.
Rising Investments in Gene Expression Analysis Researches
With digital gene expression, genetic modifications recorded in animals like mice has given way to advancements in drug discover as well as development, clinical diagnostics and biotechnology, among others. Companies along with research institutes are working on projects based on gene expression analysis. These projects are seeing massive success backed by high investments as the demand for nucleic acid analysis, gene cloning analysis, and other related microbiological methods is rising.
Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, GENERAL ELECTRIC COMPANY, Pacific Biosciences of California, Inc., Illumina, Inc., Genotypic Technology Pvt Ltd, Danaher, QIAGEN, Oxford Gene Technology, Thermo Fisher Scientific, BGI, PerkinElmer Inc., Macrogen Inc., Eurofins Scientific, are some of the companies currently leading the worldwide gene expression analysis market.
The global market for epigenetics drugs has been segmented on the basis of product, services, application, and end-user.
The market, product-wise, include consumables and instruments.
Depending on consumables, the market covers reagents and DNA chips.
Instruments-based segments in the market are polymerase chain reaction (PCR), next-generation sequencing (NGS), microarray, Sanger sequencing, and others.
The services mentioned in the report are gene expression profiling services, sequencing services, bioinformatics solutions, and others.
Gene expression analysis finds applications in drug discovery, diagnosis, research, and others.
The end-users highlighted in the report are pharmaceutical biotechnology companies, academic research institutes, contract research organizations, and others.
The primary markets for gene expression analysis are Europe, Asia Pacific, Middle East Africa and the Americas.
During the forecast period, the Americas could very well reach the top position in the global gene expression analysis market, estimates MRFR. The highly-established infrastructure, huge expenditure, and increasing research and development activities in the region play a big role in this growth. The market also gets a boost from the large number of established players based in the region. Case in point is GE Healthcare, which alone generated revenue of USD 19.1 Billion in 2017.
Standing at the second spot, Europe is now an established region in the global gene expression analysis market. The regional market gains from the numerous government initiatives taken in research and development associated with gene expression analysis. Europe is also inundated with esteemed companies such as F. Hoffmann-La Roche Ltd. To illustrate, F. Hoffmann-La Roche, in February 2018, had received an approval from the U.S. Food and Drug Administration (FDA) for its multiplex Factor V and Factor II assessment which could be used on Cobas 4800 systems. This system is known for achieving real-time PCR analysis for high volume labs.
Asia Pacific could expect the fastest growth in the worldwide market. The rising number of global partnerships for the expansion of the region’s healthcare sector, government focus on cancer as well as life science research and internal manufacturing of the sequencing systems favors the regional market. Other factors promoting market growth could be the massive RD investments and the booming bioresearch centers. On top of this, the surge in the number of research activities in agriculture and the growing approval of gene expression tests add to the market’s strength.
Middle East and Africa could project weak growth in the coming years on account of substandard healthcare amenities and low fund investments associated with research and development activities.
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