The global microarray analysis market size is expected to advance at a CAGR of 9.9% during 2021–2030, to reach $9,011.1 million by 2030. This can be ascribed to the rising prevalence of cancer across the globe and increasing government funding for diagnostic and therapeutic R&D.
Instruments held the second-largest worldwide market share in 2021, and they are predicted to grow at a CAGR of around 10% over the forecast period. Various tools are used for the analysis of microarrays, including microarray ovens, which find application in the analysis of genes.
Furthermore, chips, plates, and forceps are used for the purpose. Because microarrays are inexpensive, they are frequently employed in a variety of investigations. The rising demand for instruments is aided by the widespread availability of chips and plates. Biochips and tissue microarrays are examples of the equipment used for tissue and blood analysis.
Protein microarrays are utilizes to determine and analyze the scale and interaction of proteins. A small volume of sample is required for the analysis of the proteins, and the costs of the process are low. Furthermore, the increasing R&D spending is driving the demand for protein microarrays.
In 2021, APAC held around 20% share, and its revenue contribution is predicted to increase the fastest throughout the projection period. As the government in the region is investing heavily in R&D, especially for cancer research, the microarray analysis market is advancing in countries such as Japan, China and India.
Key players in the market have been involved in various strategic developments, such as product launches and acquisitions, to remain competitive and improve their position. For instance:
In March 2021, Agilent Technologies Inc. signed a definitive agreement for the acquisition of Resolution Bioscience Inc., which develops and commercializes NGS-based precision oncology solutions.
Major players operating in the microarray analysis market include Agilent Technologies Inc., Illumina Inc., GE Healthcare, Merck KGaA, Microarrays Inc.; Bio-Rad Laboratories Inc., PerkinElmer Inc., Arrayit Corporation, and Applied Microarrays LLC.