The
major factors driving the growth of the gene expression analysis market include
decreasing cost of sequencing, rising prevalence of cancer, growing application
areas of genomics, and the availability of gene expression databases.
The global Gene Expression Analysis Market is expected to reach USD 4.9 billion by 2023 from USD 3.2 billion in 2018, at a CAGR of 8.8%.
Market Segmentation: -
On the
basis of products and services, the global gene expression analysis market has been
segmented into consumables (reagents, DNA chips), Instruments (PCR, NGS,
Microarray, others), and services (gene expression profiling services,
bioinformatics solutions). The consumables segment is estimated to command the
largest share of the market in 2018 and is also projected to register the
highest CAGR. The high growth in this segment can be attributed to the growing
decreasing sequencing costs leading to increased adoption of sequencing and
other gene expression analysis techniques.
Based
on end user, the market has been segmented into pharmaceutical and
biotechnology companies, academic institutes and research centers, and other
end users. The pharmaceutical and biotechnology companies’ segment is expected
to command the largest share of 54.8% of the market in 2018. The large share
and high growth of this segment can be attributed to factors such as high
volume of research studies involving gene expression analysis and huge capital
for high end analysis instruments and consumables.
Regional Analysis: -
Geographically, North America is expected to dominate the global gene expression analysis market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to domestic manufacturing of sequencing systems, western partnerships to improve healthcare, high R&D intensity, government focus on cancer and other life science research, and flourishing bioresearch centers.
Top Key Players:-
The
major players operating in the gene expression analysis market include
Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Bio-Rad
Laboratories, Inc. (US) are the key players in the gene expression analysis
market. Other players involved in this market are F. Hoffmann-La Roche Ltd.
(Switzerland), GE Healthcare (UK), Pacific Biosciences of California, Inc.
(US), BGI (China), PerkinElmer (US), Agilent Technologies Inc. (US), and QIAGEN
N. V. (Netherlands), among others.