Microarray Scanners Market: Introduction
According to the report, the global microarray scanners market was valued at US$ 700 Mn in 2019 and is projected to expand at a CAGR of ~7% from 2024 to 2030. Emergence and adoption of technologically advanced instruments in life science, rise in demand for preventive healthcare, well-established healthcare facilities, rapidly increasing geriatric population, and high per capita healthcare expenditure are anticipated to drive the global microarray scanners market from 2024 to 2030.
North America is expected to account for significant share of the global microarray scanners market during the forecast period. The growth of the market in the region can be attributed to well-established healthcare and life sciences industries, early adoption of technologically advanced products, high awareness about various infectious as well as chronic diseases, and high per capita healthcare expenditure.
The market in Asia Pacific is likely to expand at a high CAGR from 2024 to 2031, due to the expansion of the healthcare sector in countries such as China, Japan, and India. Moreover, increase in drug research & development in countries such as Japan, India, and China is projected to propel the market in the region during the forecast period.
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Rise in Awareness, Acceptance of Personalized Medicine, Companion Diagnostics to Propel Market
The demand for personalized medicine is increasing at a significant rate. Personalized medicine is defined as a practice of customization of an individual’s requirement using genetic profiling. Inclination toward personalized medicines can be ascribed to the efficiency and target-specific nature of medicines with better patient outcomes. According to a study published in the World Academy of Sciences Journal 2019, protein microarrays are paving the way for personalized medicine. Personalized medicine aims to stratify patients as per type of the disease, treatment response, evaluated prognosis, and its risk factors. Microarrays are being tried to develop personalized medicine for various disease types, including cell renal carcinoma, breast & ovarian cancers, and pulmonary diseases.
Additionally, targeted therapies have minimal or no side effects compared to conventional therapies. Significant sophistication in genomics research and biomarkers has encouraged several pharmaceutical companies to shift focus toward the development of novel targeted therapies. This accelerated adoption of companion diagnostics has led to a gradual decline of the traditional model.
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Fluorescence Microarray Scanners to Dominate Market
In terms of product type, the global microarray scanners market has been classified into fluorescence microarray scanners, charge-coupled devices microarray scanners, colorimetric microarray scanners, and others. The fluorescence microarray scanners segment is expected to dominate the global microarray scanners market by 2030. Fluorescence microarray scanners are highly common and widely utilized microarray detection devices. This is expected to drive the segment during the forecast period.
Gene Expression to be Highly Attractive Application
Based on application, the global microarray scanners market has been categorized into gene expression, drug discovery, and others. The gene expression segment is projected to dominate the global microarray scanners market during the forecast period. Application of gene expression for profiling for diseases, such as cardiovascular diseases including endothelial dysfunction, myocardial infarction, heart failure, cardiac hypertrophy, and atherosclerosis, is expected to drive the segment during the forecast period.
Diagnostic Laboratories to Account for Major Market Share
In terms of end user, the global microarray scanners market has been divided into hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, and academic & research institutes. The diagnostic laboratories segment is anticipated to account for a significant share of the global microarray scanners market by 2030. Diagnostic laboratories is expected to be a highly lucrative segment due to availability of facilities in diagnostics labs.
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Competition Landscape in Microarray Scanners Market
The report provides profiles of leading players operating in the global microarray scanners market. These include Thermo Fisher Scientific, Agilent Technologies, Illumina, Inc., PerkinElmer Inc., F. Hoffmann-La Roche Ltd., GE Healthcare (General Electric Company), Molecular Devices, LLC (Danaher Corporation), Innopsys Inc., and Berthold Technologies GmbH & Co. KG.
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