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The microarray analysis market share is expected to increase by USD 1.62 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.94%.
This microarray analysis market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers microarray analysis market segmentation by products and services (consumables, instruments, and software and services) and geography (North America, Europe, Asia, and ROW). The microarray analysis market report also offers information on several market vendors, including Agilent Technologies Inc., Applied Microarrays Inc., Arrayit Corp., Bio Rad Laboratories Inc., Danaher Corp., Illumina Inc., Merck KGaA, Microarrays Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. among others.
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"The US and Canada have increased their healthcare spending, which, in turn, raises the affordability of healthcare and related products in these countries. Furthermore, disease outbreaks are increasing the demand for biochips that can help diagnose and treat diseases. The region benefits from the increase in government funding. The increase in funding from the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) in North America contribute to the growth of the regional market in focus."
The growing use of personalized medicine is notably driving the microarray analysis market growth, although factors such as capital-intensive market may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the microarray analysis industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Microarray Analysis Market Driver
The growing use of personalized medicines is one of the key factors driving the microarray analysis market growth. The involvement of a number of organizations and government regulations are responsible for the significant adoption of personalized medicines. Furthermore, many government organizations have deployed Deputy Commissioners to work directly with the microarray analysis manufacturers. Additionally, the involvement of biochips helps in producing personalized drugs using microarray and microfluid technologies. Thus, the rise in demand for personalized medicines and the use of biochips in healthcare are expected to elevate the global microarray analysis market growth during the forecast period.
Key Microarray Analysis Market Challenge
One of the key challenges for the microarray analysis market growth is the market being capital-intensive for vendors. Although there are several innovations, costs associated with the technology are high that is challenging for the vendors. Thus, the adoption of microarray analysis in applications is deflated to a certain extent, as the manufacturers and investors are also skeptical about their returns on investment. Moreover, a large number of institutions are unaware of the capability and in-depth use of biochips and are avoiding investments in the technology. Thus, the high costs, resulting in low commercial acceptability, is estimated to hinder the market growth significantly during the forecast period.
This microarray analysis market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The parent, global life sciences tools and services market covers products and companies engaged in R&D of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for R&D on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases. It also covers life sciences-related services, including contract research, contract manufacturing, and contract sales.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the microarray analysis market encompasses successful business strategies deployed by the key vendors. The microarray analysis market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The microarray analysis market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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48% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the microarray analysis market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The development in the infrastructure for medical research will facilitate the microarray analysis market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The microarray analysis market share growth by the consumables segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the microarray analysis market size and actionable market insights on post COVID-19 impact on each segment.
Microarray Biochips market - The market share is expected to rise to USD 14.75 billion by 2026 at a progressing CAGR of 19.95%.
Microarray market - The market has the potential to grow by USD 1.21 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 5.61%.
Microarray Analysis Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.94% |
Market growth 2022-2026 |
$ 1.62 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.25 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 48% |
Key consumer countries |
US, Germany, UK, Canada, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Agilent Technologies Inc., Applied Microarrays Inc., Arrayit Corp., Bio Rad Laboratories Inc., Danaher Corp., Illumina Inc., Merck KGaA, Microarrays Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Products and services
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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