It is estimated that the global gene expression analysis market is expected to hold a market value of USD 3,250 million and register a CAGR ~ 9.1% during the forecast period of 2018–2023. Gene expression analysis is research dedicated towards functional genomics extending the application purview of studying genes and gene transcripts. Gene expression analysis is the method used for extraction of data from a gene which is used for the production of a practical gene product. The method can be used calculating the genetic code which is reserved in the DNA. This kind of research can be used for classifying diseases, which leads to a wide range of applications such as pharmacogenomics, diagnostics, biomarkers, and toxicology. Growing developments in personalized medicine and technological developments are driving market growth. According to a data published by the Foley & Lardner LLP, Food and Drug Administration (FDA) approved 16 new personalized medicines in 2017. Additionally, the development of genomic databases and rising government funding for genomics is fueling market growth.
However, lack of skilled & trained labor and expensiveness of instruments may negatively affect the market growth during the forecast period.
The global gene expression analysis market is currently dominated by many market players. The key players in the market are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in February 2018, F. Hoffmann-La Roche Ltd received US Food and Drug Administration (FDA) clearance for Roche Factor II, Factor V Gene Mutation Test for Inherited Thrombophilia. This test is for use on the Cobas 4800 system, which performs real-time PCR analysis for mid- to high-volume labs.
Some of the key players in the global gene expression analysis market are GENERAL ELECTRIC COMPANY, Illumina, Inc., Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Pacific Biosciences of California, Inc., BGI, PerkinElmer Inc., Agilent Technologies, Inc., QIAGEN, Oxford Gene Technology, Eurofins Scientific, Danaher, Genotypic Technology Pvt Ltd, Macrogen Inc.
The Americas is anticipated to dominate the global gene expression analysis market owing to the increasing research activities and the rising popularity of gene expression tests. Moreover, the well-developed healthcare sector is anticipated to boost the American gene expression analysis market.
Europe is expected to account for the second largest market share in the global gene expression analysis market. The market growth in this region is attributed to the availability of funds for research.
Asia-Pacific is anticipated to be the fastest growing region in the market due to the increasing investment from governments in the field of genomics, and continuously developing economies. According to a report published by the International Journal of Social and Developmental Concerns in October 2017, in Malaysia, the growth of the public primary, as well as secondary care facilities, has decreased in the past few years, and it has not kept pace with the rapid urbanization. Thus, such factors restraint the growth of the market in this region. On the other hand, the Middle East & Africa is anticipated to account for the least share of the market.
The global gene expression analysis market has been segmented into products, services, application, end-user, and region.
The market, on the basis of product, has been segmented into consumables and instruments.
The market, based on consumables, has been further segmented into reagents and DNA chips.
The market, based on instruments, has been further segmented into polymerase chain reaction (PCR), next-generation sequencing (NGS), microarray, Sanger sequencing, and others.
The market, by services, has been segmented into gene expression profiling services, sequencing services, bioinformatics solutions, and others.
The market, by application, has been segmented into drug discovery, diagnosis, research, and others.
On the basis of end-user, the market has been segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations, and others.