Microarray Market by Application and Geography - Forecast and Analysis 2021-2025

The microarray market is projected to grow by USD 1.21 billion with a CAGR of 5.61%, during the forecast period from 2020 to 2025.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (gene expression, disease diagnosis and drug development, and others) and geography (North America, Europe, Asia, and ROW).

The microarray market report also offers information on several market vendors, including Agilent Technologies Inc., Arrayit Corp., Bio Rad Laboratories Inc., Illumina Inc., Merck KGaA, Microarrays Inc., Molecular Devices LLC, PerkinElmer Inc., and Thermo Fisher Scientific Inc. among others.

Agilent Technologies Inc. - The company is involved in offering exon microarrays, animal microarrays, bacteria and fungi microarrays, custom microarrays, and more. The life sciences and applied markets segment provide application-focused solutions that include instruments and software to identify, quantify, and analyze the physical and biological properties of substances and products.

What will the Microarray Market Size be During the Forecast Period?

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Parent Market Analysis

Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Microarray Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Microarray Market Driver

• One of the key factors driving growth in the market is the increase in the adoption of microarrays in genomics and proteomics.
• Microarray technologies, which involve miniaturization, are emerging in the fields of genomics and proteomics, thereby enabling high-throughput processing. These technologies are adopted in genotyping, mutation screening, protein interaction studies, and gene expression analysis.
• The microarray technology helps in performing analysis using small sample volumes and relatively low protein concentrations. Owing to this, microarray technology is now emerging and becoming a trend in proteomics.
• Although it is expensive, microarrays are increasingly being adopted in the healthcare sector due to their portability, rapid assay times, and fewer sample requirements. Increased prevalence of chronic diseases 

Key Microarray Market Challenge

• The standardization and accuracy issues will be a major challenge for the market during the forecast period.
• Technical problems arising during the implementation of biochip technology limit the usage of microarrays in drug delivery processes. Microarray assays lack accuracy, and therefore, they are not preferred in the diagnostic industry where a high degree of precision is required.
• Standardization is also crucial for researchers because of which there is an increased need for technology that compares data received from different platforms.
• Inaccurate disease diagnosis can deter the use of biochips. Thus, drawbacks such as inaccurate diagnosis and lack of standardization pose challenges to the growth of the global market. 

This 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 2021-2025.

Microarray Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the microarray market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Microarray Market?

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33% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for microarray in North America. Market growth in this region will be slower than the growth of the market in other regions.

The demand for microarray instruments and consumables is high in North America. This is mainly attributed to the significant investments in healthcare research and testing in the US. The strong distribution networks in countries such as the US and Canada and the increasing focus of pharmaceutical companies on drug discovery and development are driving the growth of the market. This will facilitate 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.

What is the Fastest-Growing Application Segment in the Microarray Market?

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The market share growth by the gene expression 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 market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Microarray Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of market vendors

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