Microarray Analysis Market Growth, Industry Demand, Top Players Strategy, Size-Share Estimation and Forecast Report till 2023

Microarray Analysis Market Overview:

The Microarray Analysis Market was valued at USD 3.56 billion in 2017 and is expected to reach USD 5.52 billion by 2023 at a CAGR of 7.6%. The base year for this study is 2017 and the forecast period is 2018–2023.

Drivers
Increasing incidence of cancer
DNA microarrays are used for the diagnosis of various types of cancers. As a result, the rising incidence of cancer across the globe is expected to support the growth of the microarray analysis market during the forecast period. According to the WHO, cancer is the second-leading cause of death globally and accounted for 8.8 million deaths in 2015. Also, globally, the incidence of cancer is expected to increase from 14.1 million in 2012 to 21.7 million by 2030. As of 2015, 15.2 million cancer cases were diagnosed globally, with 57.0% of them being reported across developing countries in Africa, Latin America, and Asia (Source: GLOBOCAN, 2012).

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Research Methodology
Top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product and service, type, application, and end user) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. Various secondary sources such as Bloomberg Business, Factiva, and Avention; white papers; annual reports; company house documents; and SEC filings of companies. Societies and organizations such as the Human Genome Organisation, World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) have been used to identify and collect information useful for this extensive commercial study of the market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the microarray analysis market.

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Segmentation:

Microarray Analysis Market, By Product and Service
Consumables
Instruments
Software and Services
Microarray Analysis Market, By Type
DNA Microarrays
Protein Microarrays
Other Microarrays
Microarray Analysis Market, By Application
Research Applications
Drug Discovery
Disease Diagnostics
Other Applications
Microarray Analysis Market, By End User
Research and Academic Institutes
Pharmaceutical and Biotechnology Companies
Diagnostic Laboratories
Other End Users

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Key Players:

The major players in the microarray analysis market include Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Molecular Devices (US), PerkinElmer Inc. (US), Illumina, Inc. (US), GE Healthcare (US), and Bio-Rad Laboratories Inc. (US).

 

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