DNA Microarray Market To Generate Revenue worth $3,930.8 Million by 2030

The global DNA microarray market is projected to generate USD 3,930.8 million revenue by 2030, advancing at a CAGR of 10.5% during 2024–2030. The market is being driven by the growing prevalence of targetable diseases, developments in bioinformatics, rising genomic research activities, and strategic initiatives taken by the key market players to expand their customer bases across more medical subspecialties.

Moreover, the surge in the number of people suffering from cancer across the world is a major factor for the growth of the market. The growing adoption of the DNA microarray technology in the detection of cancer is due to its numerous advantages conventional methods. According to the WHO’s factsheet, globally, cancer is one of the leading causes of death, accounting for approximately 10 million (one in six) demises each year. Breast, lung, colon and rectum, and prostate cancers are the most-common cancers.

Moreover, the growing count of collaborations between the key players is a major factor for the growth of the market revenue, as these moves allow companies to expand their geographical presence and area of expertise. For instance, in April 2020, Axovant Gene Therapies Ltd. announced a collaboration with Invitae to improve access to genetic testing and augment the diagnostic procedure volume of GM1 and GM2 gangliosidosis.

Gene Expression Analysis Holds Largest Revenue Share

Based on application, the gene expression analysis category accounts for the largest share, of 60%, and it will maintain its dominance in the future. The growth of the category is credited to the rising adoption of gene expression in microbiology, clinical diagnostics, and drug discovery. In addition to this, over the last decade, the utilization of gene expression in several processes conducted during drug discovery has increased exponentially.

The genotyping category is expected to grow at a robust CAGR during the forecast time frame. This is due to the growing R&D funding for personalized medicine research and the advantages of this technology during genotyping, such as the ability of genotyping data analysis tools to analyze results for millions of markers and probes and detect sample outliers, thus providing an enhanced perception into the functional consequences of genomic variations.

Furthermore, the growing prevalence of target diseases and the strategic initiatives of the key market players are expected to contribute to the genotyping category’s growth. For instance, in February 2021, 23andMe decided to merge with VG Acquisition Corp., a subsidiary of Virgin Group. Thus, 23andMe became a publicly traded company, giving itself the opportunity to advanced personalized healthcare and therapeutic development through human inheritances.

Geographically, the APAC region will display the highest CAGR over the forecast period. This is due to an increase in the investment and offerings by both local and foreign life sciences businesses in the region, high prevalence of cancer and other chronic diseases, advancement of the healthcare infrastructure in regional countries, and strong focus of countries’ governments on genomic research.

China is expected to account for a significant share in the APAC region.

• The main factors driving the expansion of the market in the country are the rising pharmaceutical research Activity in the country amidst the increasing number of cancer and chronic disease cases.

India is also expected to show significant growth in this market.

• This will be due to the advancing healthcare infrastructure, strong government support for drug discovery, increasing prevalence of chronic illnesses, and growing investment in the country by the key market players.

Some of the major players are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Merck KGaA, PerkinElmer Inc., Applied Microarrays LLC, and Savyon Diagnostics.