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).
Growing application areas of microarrays
The microarray technology is primarily used in genome mapping and sequencing applications. However, over the last few years, this technology is increasingly being used in the diagnosis of infectious and genetic diseases, drug discovery, pharmacogenomic research, cancer diagnostics, and forensic applications. Additionally, the microarray technology is also used in immunology research such as the study of the relation between phenotype and gene expression, activation and differentiation of immune cells, regulation of immune responses, analysis of the molecular mechanisms of allergy, and immunological pharmacology.
The key players in the microarray analysis market include are 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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