DNA and Gene Chip Market Size to Reach USD 14.01 Billion by 2028 – Reports and Data
High prevalence of cancer, technical knowledge about gene expression and favorable research funding scenario would drive market growth
The global DNA and Gene Chip market size is estimated to reach USD 14.01 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.
Collaborations between companies and academic institutions are assisting the technology's advancement in the field of genomics. The successful application of genomic chips for gene expression analysis has prompted its use in non-traditional research fields such as environmental science and agriculture. Microarray technology is being heavily used by agri-biotech corporations and research institutes for evaluating genetically modified foods and crop development to tackle agricultural repeatability difficulties.
The future market for DNA gene chips is expected to be restrained by falling sequencing prices as a result of significant developments in NGS.
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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.
- 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 are leading players involved on the global DNA and Gene Chip market.
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Reports and Data has segmented the DNA and gene chip market on the basis of type, product, application, end use and region:
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Oligonucleotide DNA (o-DNA)
- Complementary DNA (c-DNA)
Product Outlook (Revenue, USD Billion; 2018 – 2028)
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Cancer Diagnostics
- Gene Expression
- Drug Discovery
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End Use Outlook (Revenue, USD Billion; 2018 – 2028)
- Academic & Government Research Institutes
- Hospitals & Diagnostics Centers
- Biotechnology & Pharmaceutical Companies
Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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