Microarray Analysis Market Size Worth USD 11.55 Billion in 2032 | Emergen Research

Rising government initiatives for genomic and proteomic research and increasing areas of applications of microarray are key factors driving market revenue growth

Vancouver, Jan. 03, 2024 (GLOBE NEWSWIRE) — The global microarray analysis market size was USD 4.90 Billion in 2022 and is expected to register a rapid revenue CAGR of 9.0% during the forecast period. A recent market research report identifies rising government initiatives in genomic and proteomic research, coupled with the broadening applications of microarray technology, as key drivers fueling this growth.

Microarray technology, a gene expression and mapping analysis tool, utilizes glass slides containing thousands of gene sequences. The technology’s applications range from antibiotics treatment efficacy to cancer diagnostics, showcasing its versatility. Notably, DNA-based microarrays have gained prominence for gene expression assessments due to cost-effectiveness and increased accessibility.

The global prevalence of cancer is a major factor propelling market growth. Microarrays, especially DNA microarrays, play a crucial role in diagnosing breast cancer by identifying mutations in genes such as Breast Cancer Gene (BRCA1) and BRCA2. The rising demand for new medications and the increasing use of microarray technologies for molecular disease identification are also contributing to the market’s revenue surge.

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Despite the positive trajectory, challenges such as the high cost of microarray tests and limitations in controlling large volumes of analyzed transcripts could impede growth. Factors like low accuracy, specificity, repeatability, and precision of microarray setups, along with sensitivity to hybridization temperature variations, may affect customer preferences. Additionally, the dependence on pre-existing genomic sequence data limits the flexibility of microarrays.

A notable trend shaping the market is the integration of omics technologies. This involves combining microarray analysis with advancements like bioinformatics and Next-Generation Sequencing (NGS) for more comprehensive data interpretation. Market leaders, Illumina and SomaLogic, recently signed a co-development agreement to enhance the SomaScan Proteomics Assay using Illumina’s high-NGS platforms, promising deeper insights into genomics.

Product & Service Insights: Consumables Segment Leads in 2022

In 2022, the consumables segment dominated the global microarray analysis market, holding the largest revenue share. This segment’s growth is attributed to the widespread usage of microarray technology across various industries and frequent large-scale consumable purchases. Plastic, glass, cover, and functionalized glass slides are essential consumables for gene scanning steps, further driven by the increasing number of research institutes, diagnostic labs, and rising methylation research in mRNA and DNA.

Application Insights: Research Applications and Disease Diagnostics Fuel Growth

The research application segment is anticipated to witness steady revenue growth during the forecast period, driven by increased public and private funding for genomics and proteomics research. Notable collaborations, like the USD 18 million funding by Genomics Canada and Genomics British Columbia in 2020, support advancements in diagnosis across various disorders, including cancer and Alzheimer’s disease.

The disease diagnostics segment is expected to account for a significantly large revenue share due to microarray analysis enabling the detection and characterization of genetic variants associated with diseases. This high-throughput method aids in early identification, precise diagnosis, and personalized treatment plans, with microarray-based disease diagnostics evolving rapidly.

End-Use Insights: Research & Academic Institutes Lead the Way

The research & academic institutes segment is projected to experience the fastest revenue growth, driven by increased microarray usage in drug Research & Development (R&D) applications. Collaborations between Illumina Inc. and prominent research institutes underline the instrumental role of microarrays in understanding genetic factors causing various disorders.

Pharmaceutical and biotechnology companies are expected to hold the largest revenue share, given the strategic acquisitions aimed at expanding product portfolios. For instance, Thermo Fischer Scientific Inc.’s acquisition of Affymetrix in 2019 reinforces the importance of microarray chips in genetic variation and gene expression investigations.

Regional Insights: North America Dominates, Asia Pacific Shows Strong Growth

North America led the global microarray analysis market in 2022, attributing its largest revenue share to the presence of large companies, rising disease prevalence, and innovative research devices. Asia Pacific is poised for the fastest revenue growth, fueled by increasing cancer prevalence, rising chronic illnesses, and investments in precision medicine. Noteworthy is China’s substantial investment of USD 9 billion in precision medicine, driving demand for microarray analysis.

Europe is expected to account for a considerable revenue share, driven by increased investments and the rising prevalence of cancers, as highlighted by data from the European Society for Medical Oncology (ESMO). Venture capital initiatives in biotechnology companies further contribute to the region’s market growth.

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Scope of Research

Major Companies and Competitive Landscape

The global microarray analysis market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective microarray analysis products in the market.

Some major players included in the global microarray analysis market report are:

• Illumina, Inc.
• Agilent Technologies, Inc.
• Thermo Fisher Scientific, Inc.
• Merck KGaA
• PerkinElmer, Inc.
• Arrayit Corporation
• Bio-Rad Laboratories, Inc.
• GE Healthcare
• Molecular Devices, LLC.
• Affymetrix
• RayBiotech Life, Inc.
• Full Moon BioSystem, Inc.
• CapitalBio Technology Co., Ltd.
• Microarray Inc.
• QIAGEN

Strategic Development

• In January 2023, Agilent Technologies, Inc. introduced the SureSelect Human All Exon V9, a new microarray platform. This platform provided scientists with a cutting-edge method for thorough genetic analysis, making it possible to quickly and precisely identify genetic variants linked to various diseases. The SureSelect Human All Exon V9 microarray has significantly accelerated research in fields including population genetics, uncommon genetic disorders, and oncology owing to its comprehensive perspective of the human exome.
• In November 2021, Illumina, Inc. and Seqll Inc., a creator of cutting-edge sequencing technologies, established a strategic partnership. This partnership aimed to improve long-read sequencing capabilities by fusing SeqLL’s exclusive Long-Read Sequencing technology with Illumina’s sequencing through microarray devices. This collaboration aims to overcome problems in genomic research and make it possible for scientists to better understand intricate biological systems.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global microarray analysis market on the basis of product & service, type, application, end-use, and region:

• Product & Service Outlook (Revenue, USD Billion; 2019-2032)
  • Consumables
  • Instruments
  • Software and Services
•  Type Outlook (Revenue, USD Billion; 2019-2032)
  • DNA Microarray
    1. Deoxyribonucleic Acid (cDNA) Microarray
    2. Bacterial Artificial Chromosome (BAC) Microarray
    3. Single Nucleotide Polymorphism (SNP) Microarray
    4. Oligo Microarray
  • Protein Microarray
    1. Analytical Protein Microarray
    2. Functional Protein Microarray
    3. Reverse-Phase Protein Microarray
  • Peptide Microarray
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Research Applications 
  • Drug Discovery 
  • Disease Diagnostics 
  • Other Applications
• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Research & Academic Institutes 
  • Pharmaceutical & Biotechnology Companies 
  • Diagnostic Laboratories 
  • Other End Use
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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