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Midstream Oil & gas Equipment Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Microarray Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire / -- The microarray market has experienced robust growth in recent years, expanding from $4.73 billion in 2023 to $5.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to genomic research surge, rise in personalized medicine, pharmaceutical drug discovery, advancements in cancer research, biotechnology and life sciences expansion.
Strong Future Growth Anticipated
The microarray market is projected to continue its strong growth, reaching $7.35 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to rapid growth in molecular diagnostics, emergence of precision medicine, increased adoption in agriculture, expansion of microbiome research, technological integration in healthcare.
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Growth Driver Of The Microarray Market
The rise in the incidence of cancer cases is expected to drive the growth of the microarray market in the future. Cancer refers to a condition when a few of the body's cells grow out of control and spread to other bodily regions. The increase in cancer cases is mostly driven by the increasing incidence of established cancer risk factors, exposure to specific chemicals, an aging population, and common cancers such as breast cancer, lung cancer, and bronchial cancer, where microarray allows researchers to identify changes in gene expression that may be associated with cancer.
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Major Players And Market Trends
Key players in the microarray market include Agilent Technologies Inc., Arrayit Corporation, Bio-Rad Laboratories Inc., Danaher Corporation, GE Healthcare Inc., Illumina Inc.
Product innovation has emerged as a key trend gaining popularity in the microarray market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market.
Segments:
1) By Type: DNA Microarray, Protein Microarray, Other Types
2) By Application: Disease Diagnosis, Cancer Genomic Analysis, Drug Discovery, Genomic Sequencing, Expression Analysis, Toxicological Research, Other Applications
3) By End-User: Pharmaceutical Industry, Biotechnology Industry, Academic and Research Laboratories, Other End-Users
Geographical Insights: North America Leading The Market
North America was the largest region in the microarray market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global microarray market report during the forecast period. The regions covered in the microarray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Microarray Market Definition
Microarray refers to a common laboratory technique that includes adhering a variety of tens of thousands to millions of recognized nucleic acid fragments to a solid surface known as a chip. It is frequently used for a variety of applications in scientific and medical research, like detecting particular DNA sequences and assessing gene expression.
Microarray Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Microarray Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on microarray market size , microarray market drivers and trends, microarray market major players, microarray competitors' revenues, microarray market positioning, and microarray market growth across geographies. The microarray market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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