Global gene expression analysis market was valued US$ 4.2 Bn in 2017 and is expected to reach US$ 8.6 Bn by 2026, at a CAGR of 9.37 % during a forecast period.
Gene expression is a procedure of deriving information from a gene to synthesize a functional gene product. Rising use of gene expression analysis in precision medicine provides key opportunities for the market during the forecast period.
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Falling cost of sequencing, technological advancements, increasing the prevalence of cancer, and availability of government funding are propelling the market growth. Novel technologies to aid gene expression studies, rising application areas of gene expression, and availability of gene expression databases are boosting the growth the global gene expression analysis market. Currency Devaluation is a major challenge of the market. The high cost of instruments and lack of trained professionals are hindering the market growth.
The growing volume of genetic tests in drug & biomarker discovery and pharmacogenomics applications are driving the growth of the consumables market. The rising installation of NGS & PCR tools worldwide will significantly boost the demand for consumables. PCR analysis is estimated to the largest revenue share owing to high adoption & introduction of systems integrated with other steps as well as techniques.
Pharmaceutical & biotechnology companies utilize gene expression analysis products & services to achieve their clinical research goals like drug discovery & development and biotech research. The high volume of research studies involving gene expression analysis and huge capital for high-end analysis instruments & consumables is expected to grow at the highest rate during the forecast period in the pharmaceutical and biotechnology segment.
The Asia Pacific market is expected to grow at the highest rate during the forecast period owing to the 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.
Key player operating in global gene expression analysis market are Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., Eurofins Scientific, F. Hoffmann-La Roche, GE Healthcare, Illumina, Inc., Oxford Gene Technology, Pacific Biosciences of California, Inc., Perkinelmer, Inc., Qiagen N.V., and Thermo Fisher Scientific, Inc.
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The Scope of Global Gene Expression Analysis Market:
Global Gene Expression Analysis Market, by Products & Services:
Global Gene Expression Analysis Market, by End User:
Pharmaceutical & Biotech companies
Academic Institutes & Research Centers
Other End User
Global Gene Expression Analysis Market, by Region:
Middle East & Africa
Key Player Operating in Global Gene Expression Analysis Market:
Beijing Genomics Institute
Oxford Gene Technology
Oxford Nanopore Technologies
Phalanx Biotech Group
View More : Healthcare, Pharmaceuticals & Medical Devices