High prevalence of cancer, technical knowledge about gene expression and favorable research funding scenario would drive market growth
Market Size – USD 5.84 Billion in 2020, Market Growth – CAGR of 11.6%, Market Trends – Research and increasing investments in microarray technology
The global DNA and Gene Chip market size is estimated to reach USD 14.03 Billion by 2028, registering a CAGR of 11.6% during the forecast period, according to a new report by Reports and Data. Major factors driving market revenue growth are technological advancements in robotics, computational capabilities, and fabrication methods for microarrays. DNA and gene chip is a form of microarray device that holds a huge number of DNA sequences (genes) affixed to it, allowing researchers to study gene expression in a large number of samples at the same time, which was previously impossible. The slides are used to detect gene expression as probes. These biochips can be used in a variety of domains, both traditional and unconventional. The report examines the market for DNA and gene chip, as well as the trends and emerging technologies that will help to drive the market forward.
The market has been expanding at a healthy rate, owing to increased knowledge about the efficacy of DNA and gene chip, as well as enhanced computational speeds and microarray fabrication technologies. Advances in DNA microarray technology have led to a greater use of the technology in biomedicine. Vendors are working on new ways for storing and analysing microarray-generated data in order to make array technology more useful in biomedicine.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Top Players in the Global DNA and Gene Chip Market:
Perkin Elmer, Inc., Illumina, Inc., Thermo Fisher Scientific, Inc., Macrogen Inc., Agilent Technologies, Greiner Bio-One International GmbH, Asper Biotech, CapitalBio Corporation, Microarrays Inc., Oxford Gene Technology, and bioMérieux SA., among others
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DNA and Gene Chip Market Segmentation:
Type Outlook (Revenue, USD Billion; 2020 – 2028)
- Oligonucleotide DNA (o-DNA)
- Complementary DNA (c-DNA)
Product Outlook (Revenue, USD Billion; 2020 – 2028)
Application Outlook (Revenue, USD Billion; 2020 – 2028)
- Cancer Diagnostics
- Gene Expression
- Drug Discovery
End Use Outlook (Revenue, USD Billion; 2020 – 2028)
- Academic & Government Research Institutes
- Hospitals & Diagnostics Centers
- Biotechnology & Pharmaceutical Companies
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report:
- Although consumables account for the majority of market share in the product category, the instruments segment is rising at a rapid pace, with a CAGR of 11.7 percent. This can be linked to cost savings as a result of increased technological advancements and the introduction of new equipment with high computing speed, which improve the efficiency of microarray procedures. Applied Micro Arrays, for example, has announced the release of improved micro array scanners for its customers, which include laboratories and diagnostic centres.
- Hospitals and diagnostic centres account for nearly 20% of the total market share. This technology makes it easier to detect and determine the type of diseases like cancer. Patients are not need to endure painful procedures such as biopsy to confirm the presence of cancerous cells in their bodies. This method also makes therapy more convenient. Non-Invasive Prenatal Testing is another application for it (NIPT).
- Europe came in second after North America in terms of market share. This can be explained by advances in technical understanding, increased investment, and an increase in the occurrence of diseases such as cancer.
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