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The global microarray market size is expected to reach USD 7.44 billion by the year 2026, growing at a CAGR of 8.7%, according to a new report by Grand View Research, Inc. 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.
The Asia Pacific region is expected to witness lucrative growth during the forecast period owing to rising regulatory approvals received by leading companies for microarrays. For instance, in 2015, Agilent Technologies Inc. received the China FDA approval for its SureScan Dx microarray scanner. The Middle East & African region is also anticipated to showcase immense opportunities due to the launch of new products in the region to improve the diagnosis of diseases. For instance, in 2017, Thermo Fisher Scientific, Inc. launched Axiom Africa array, this array captures genome-wide variation in African populations as well as in Europe and Asian populations.
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Further key findings from the report suggest:
• Consumables held the largest microarray market share owing to the repeated purchase of these products and their incessant requirement in all procedures.
• Software and services are expected to witness the highest CAGR in the product segment owing to rising adoption in drug discovery and disease diagnostics.
• North America held the largest market share followed by Europe and is anticipated to maintain their dominant positions throughout the forecast period.
• Major market players include Abcam plc., Bio-Rad Laboratories, Thermo Fisher Scientific, Merck KgaA, Cell Signaling Technologies, and Hoffmann-La Roche Ltd. among others.
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market segmentation & scope
1.2 Market definition
1.3 Information procurement
1.4 Purchased database
1.5 GVR's internal database
1.6 Secondary sources & third party perspectives
1.7 Primary research
1.8 Information analysis
1.9 Data analysis models
1.10 Market formulation & data visualization
1.11 Data validation & publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
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Chapter 3 Microarray Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration and Growth Prospect Mapping
3.2.1 User Perspective Analysis
3.2.1.1 Consumer behavior analysis
3.3 Regulatory Framework
3.3.1 Reimbursement Framework
3.3.2 Standards And Compliances
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Rising prevalence of Chronic Diseases
3.4.1.2 Cost-Effective Nature of Microarrays
3.4.1.3 Easy Accessibility and Standardization
3.4.2 Market Restraint Analysis
3.4.2.1 Rapid advances in NGS
3.5 Microarray Market Analysis Tools
3.5.1 Industry Analysis - Porter's
3.5.1.1 Supplier Power
3.5.1.2 Buyer Power
3.5.1.3 Substitution Threat
3.5.1.4 Threat from new entrants
3.5.1.5 Competitive Rivalry
3.5.2 Pestel Analysis
3.5.2.1 Political Landscape
3.5.2.2 Environmental Landscape
3.5.2.3 Social landscape
3.5.2.4 Services landscape
3.5.2.5 Legal Landscape
3.5.3 Major Deals And Strategic Alliances Analysis
3.5.3.1 Joint ventures
3.5.3.2 Mergers and acquisitions
3.5.3.3 Licensing and partnership
3.5.3.4 Services collaborations
3.5.3.5 Strategic Divestments
Chapter 4 Microarray Market - Competitive Analysis
4.1 Recent Developments & Impact Analysis, by Key Market Participants
4.2 Company Categorization
4.2.1 List Of Key Distributors And Channel Partners
4.2.2 Key Company Market Share Analysis, 2018
4.3 Public Companies
4.3.1 Company Market Position Analysis
4.4 Private Companies
4.4.1 List Of Key Emerging Companies
4.4.2 Regional Network Map
4.4.3 Company Market Position Analysis
