Gene Expression Analysis Market Overview
As per Market Research Future (MRFR) analysis, the global gene expression analysis market is estimated to hold a market value of USD 3.250 million with a CAGR 9.1% from 2018 to 2023 (forecast period).
Gene expression analysis is a research focused on functional genomics that broadens the scope of the study of genes and gene transcripts. Synthesizing functional gene products like functional RNAs and protein species provides insights into how an intact organism survives when a particular gene is missing.
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Gene Expression Analysis Market Dynamics
Personalized medicine is becoming more popular, with an increasing number of genetic disorders. In addition, increasing awareness of personalized medicine is expected to drive growth over the forecast period. As per the data published by Foley & Lardner LLP, the Food and Drug Administration (FDA) approved 16 new personalized medicinal products in 2017. Moreover, the advancement of genomic databases increased government support for genomics, and growth in personalized medicine is likely to drive the market.
However, the shortage of skilled labor and the high cost of instruments may inhibit market growth during the forecast period.
Gene Expression Analysis Market Segmentation
The global market for gene expression analysis has been segmented into product, consumables, instruments, services, application, and end-user.
Based on the product, the global market for gene expression analysis has been segmented into consumables and instruments.
Based on consumables, the global market for gene expression analysis has been further segmented into reagents and DNA chips.
Based on instruments, the global market for gene expression analysis has been further segmented into next-generation sequencing (NGS), polymerase chain reaction (PCR), microarray, Sanger sequencing, and others.
Based on services, the global market for gene expression analysis segmented into gene expression profiling services, sequencing services, bioinformatics solutions, and others.
Based on the application, the global market for gene expression analysis has been segmented into drug discovery, diagnosis, research, and others.
Based on end-user, the global market for gene expression analysis has been segmented into academic & research institutes, pharmaceutical & biotechnology companies, contract research organizations, and others.
Gene Expression Analysis Market Regional Analysis
Regionally, the global gene expression analysis market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas are predicted to dominate the global market for gene expression analysis due to increasing research activities and the increasing popularity of gene expression tests. In addition, the well-developed healthcare sector is predicted to improve the American market for gene expression analysis.
Europe is predicted to hold the second-largest position in the global market for gene expression analysis. Market growth in this region is due to the availability of research funding.
The Asia Pacific is projected to be the fastest-growing region on the market due to rising investment by governments in genomics and continuously developing economies. As stated in the report published by the International Journal of Social and Developmental Concerns in October 2017, the growth of public primary and secondary care facilities in Malaysia has decreased over the last few years and has not kept pace with modern urbanization. These factors, therefore, restrict the growth of the market in this region.
The Middle East and Africa are estimated to have the least market share.
Gene Expression Analysis Market Key Players
Some of the significant participants in the global gene expression analysis market are GENERAL ELECTRIC COMPANY, Illumina, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Pacific Biosciences of California, Inc., Oxford Gene Technology, BGI, PerkinElmer Inc., Agilent Technologies, Inc., QIAGEN, Eurofins Scientific, Genotypic Technology Pvt Ltd, Danaher, Macrogen Inc.
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