High prevalence of cancer, technical knowledge about gene expression and favorable research funding scenario would drive market growth
The global DNA and Gene Chip market size is estimated to reach USD 14.03 Billion by 2028, registering a CAGR of 11.6% during the forecast period, according to a new report by Reports and Data. Major factors driving market revenue growth are technological advancements in robotics, computational capabilities, and fabrication methods for microarrays. DNA and gene chip is a form of microarray device that holds a huge number of DNA sequences (genes) affixed to it, allowing researchers to study gene expression in a large number of samples at the same time, which was previously impossible. The slides are used to detect gene expression as probes. These biochips can be used in a variety of domains, both traditional and unconventional. The report examines the market for DNA and gene chip, as well as the trends and emerging technologies that will help to drive the market forward.
The market has been expanding at a healthy rate, owing to increased knowledge about the efficacy of DNA and gene chip, as well as enhanced computational speeds and microarray fabrication technologies. Advances in DNA microarray technology have led to a greater use of the technology in biomedicine. Vendors are working on new ways for storing and analysing microarray-generated data in order to make array technology more useful in biomedicine.
Key companies profiled in the report include
Perkin Elmer, Inc., Illumina, Inc., Thermo Fisher Scientific, Inc., Macrogen Inc., Agilent Technologies, Greiner Bio-One International GmbH, Asper Biotech, CapitalBio Corporation, Microarrays Inc., Oxford Gene Technology, and bioMérieux SA., among others
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the DNA and Gene Chip market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
DNA and Gene Chip Market Segmentation based on Types:
Type Outlook (Revenue, USD Billion; 2020 – 2028)
- Oligonucleotide DNA (o-DNA)
- Complementary DNA (c-DNA)
Product Outlook (Revenue, USD Billion; 2020 – 2028)
DNA and Gene Chip Market Segmentation based on Application:
Application Outlook (Revenue, USD Billion; 2020 – 2028)
- Cancer Diagnostics
- Gene Expression
- Drug Discovery
End Use Outlook (Revenue, USD Billion; 2020 – 2028)
- Academic Government Research Institutes
- Hospitals Diagnostics Centers
- Biotechnology Pharmaceutical Companies
Some Key Highlights from the Report:
- Although consumables account for the majority of market share in the product category, the instruments segment is rising at a rapid pace, with a CAGR of 11.7 percent. This can be linked to cost savings as a result of increased technological advancements and the introduction of new equipment with high computing speed, which improve the efficiency of microarray procedures. Applied Micro Arrays, for example, has announced the release of improved micro array scanners for its customers, which include laboratories and diagnostic centres.
- Hospitals and diagnostic centres account for nearly 20% of the total market share. This technology makes it easier to detect and determine the type of diseases like cancer. Patients are not need to endure painful procedures such as biopsy to confirm the presence of cancerous cells in their bodies. This method also makes therapy more convenient. Non-Invasive Prenatal Testing is another application for it (NIPT).
- Europe came in second after North America in terms of market share. This can be explained by advances in technical understanding, increased investment, and an increase in the occurrence of diseases such as cancer.
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