PUBLISHER: Meticulous Research | PRODUCT CODE: 1576642
PUBLISHER: Meticulous Research | PRODUCT CODE: 1576642
The microarray kits market is projected to reach $2.51 billion by 2031, at a CAGR of 5.8% from 2024 to 2031.
Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. This market is driven by the increasing research applications of microarrays, the use of microarrays in cancer research, the increasing adoption of personalized medicine, and the growing R&D expenditure in the pharmaceutical and biotechnology industries.
Furthermore, technological advancements in microarray technology and emerging economies provide a significant growth opportunity for this market. However, the higher costs of microarrays, as compared to other genetic methods, may restrain the growth of this market. Additionally, lack of sensitivity and accuracy pose a major challenge for the players operating in this market.
Among product type, in 2024, the DNA microarray kits segment is expected to account for the largest share of the market. DNA microarrays, also known as DNA chips or gene chips, are used in genomics and molecular biology for the simultaneous analysis of thousands to millions of DNA sequences, typically genes or oligonucleotide probes, on a small, solid support surface. The large market share of the segment is attributed to factors such as increasing incidence of cancer, wide application areas of microarray technology, rising funding for genomic R&D, and growing research for personalized medicine.
Among applications, in 2024, the drug discovery & development segment is expected to account for the largest share of the market. Drug discovery & development include the experiments that are conducted to test certain drugs or theories that can be applied to a particular disease treatment. The large market share of the segment is attributed to factors such as growing R&D expenditure, a large number of academic and research institutes focusing on cancer research, and growing innovations in the field of microarray technology.
Among end users, in 2024, the pharmaceutical and biotechnology companies segment is expected to account for the largest share of the market. Pharmaceutical and biotechnology companies use microarray kits and technology for various applications such as drug discovery, cancer biomarker detection, and personalized medicines. The large share of the market is attributed to factors such as a growing focus on drug discovery & development, and rising pharmaceutical R&D expenditure, and increased adoption of personalized medicines. In the case of personalized medicine, DNA microarray kits can be used to compare diseased tissues/cells with healthy tissues/cells in order to find the characteristics of a disease. In the case of drug discovery & development, protein microarray kits are used to screen patients and then prescribe drugs to exclude potential side effects and determine the most suitable dose, hence driving the growth of the segment.
An in-depth analysis of the geographical scenario of the global microarray kits market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America) along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of the global microarray kits market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The largest share of the segment is primarily due to the availability of advanced infrastructure for genomic research, the presence of key players, the presence of key pharmaceutical companies and research institutes, availability of funding for life science research. The presence of key players in the market improves the accessibility to advanced microarray technology resources, including kits.
The key players operating in the global microarray kits market are Thermo Fisher Scientific, Inc. (U.S.), Illumina, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Merck KGaA (Germany), PerkinElmer, Inc. (U.S.), QIAGEN N.V. (Netherlands), Edvotek, Inc. (U.S.), Sakura Finetek USA, Inc. (U.S.), Dextra Laboratories Ltd. (U.K.), and GeneCopoeia, Inc. (U.S.).
Microarray Kits Market-by Product Type
Microarray Kits Market-by Application
(Other applications primarily include agriculture, food & beverages, and forensics)
Microarray Kits Market-by End User
(Other end users primarily include veterinary clinics, agricultural industry, and forensic laboratories)
Microarray Kits Market-by Geography
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)