emergency manager18 November 2018
Gene analysis market to grow upto 4.9 billion by 2023
The market for gene expression analysis market is expected to grow from USD 3.2 billion in 2018 to USD 4.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.This finding has been published by Research and Markets, an international market survey firm recently.
Growth in the market is primarily driven by factors such as the rising prevalence of cancer, growing application areas of genomics, and the availability of gene expression databases.
By product and services, the consumables segment is expected to grow at the highest rate during the forecast period
The increasing volume of genetic tests in drug discovery, bio-marker discovery, and pharma-co-genomics applications are driving the growth of the consumables market. The increasing installation of NGS and PCR equipment worldwide will significantly boost the demand for consumables.
By end user, pharmaceutical and biotechnology companies are expected to be the largest contributor to the gene expression analysis market
Pharmaceutical and biotechnology companies utilize gene expression analysis products and services to achieve their clinical research goals, such as drug discovery and development and biotech research. Biopharmaceutical companies focus on developing targeted therapies, especially for the treatment of cancer, complex diseases, and rare genetic disorders. CROs offer a number of gene expression analysis services, including gene expression profiling services such as NGS. This is increasing the demand for gene expression analysis services offered by CROs.
North America is expected to hold a significant share in the gene expression analysis market during the forecast period
Factors such as the development of gene therapy, focus on gene expression studies, government initiatives, and the availability of funding for NGS research are driving the growth of the market in North America.
The major vendors in the global market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Bio-Rad Laboratories, Inc. (US). Other players involved in this market are F. Hoffmann-La Roche Ltd. (Switzerland), GE Healthcare (UK), Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies Inc. (US), QIAGEN N. V. (Netherlands), Oxford Gene Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg). Market Developments
By product and services, the consumables segment is expected to grow at the highest rate during the forecast period
The increasing volume of genetic tests in drug discovery, bio-marker discovery, and pharma-co-genomics applications are driving the growth of the consumables market. The increasing installation of NGS and PCR equipment worldwide will significantly boost the demand for consumables.
By end user, pharmaceutical and biotechnology companies are expected to be the largest contributor to the gene expression analysis marketPharmaceutical and biotechnology companies utilize gene expression analysis products and services to achieve their clinical research goals, such as drug discovery and development and biotech research. Biopharmaceutical companies focus on developing targeted therapies, especially for the treatment of cancer, complex diseases, and rare genetic disorders. CROs offer a number of gene expression analysis services, including gene expression profiling services such as NGS. This is increasing the demand for gene expression analysis services offered by CROs.
North America is expected to hold a significant share in the gene expression analysis market during the forecast period
Factors such as the development of gene therapy, focus on gene expression studies, government initiatives, and the availability of funding for NGS research are driving the growth of the market in North America.
The major vendors in the global market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Bio-Rad Laboratories, Inc. (US). Other players involved in this market are F. Hoffmann-La Roche Ltd. (Switzerland), GE Healthcare (UK), Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies Inc. (US), QIAGEN N. V. (Netherlands), Oxford Gene Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg). Market Developments
- Biorad acquired of RainDance Technologies, a droplet-based PCR systems manufacturer. RainDance Technologies has a more focused portfolio, primarily known for its droplet-based technologies for digital PCR (dPCR).
- Thermo Fisher Scientific completes acquisition of Affymetrix, a leading provider of cellular and genetic analysis products.
emergency manager18 November 2018
Gene analysis market to grow upto 4.9 billion by 2023
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The market for gene expression analysis market is expected to grow from USD 3.2 billion in 2018 to USD 4.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period.This finding has been published by Research and Markets, an international market survey firm recently.
Growth in the market is primarily driven by factors such as the rising prevalence of cancer, growing application areas of genomics, and the availability of gene expression databases.
By product and services, the consumables segment is expected to grow at the highest rate during the forecast period
The increasing volume of genetic tests in drug discovery, bio-marker discovery, and pharma-co-genomics applications are driving the growth of the consumables market. The increasing installation of NGS and PCR equipment worldwide will significantly boost the demand for consumables.
By end user, pharmaceutical and biotechnology companies are expected to be the largest contributor to the gene expression analysis market
Pharmaceutical and biotechnology companies utilize gene expression analysis products and services to achieve their clinical research goals, such as drug discovery and development and biotech research. Biopharmaceutical companies focus on developing targeted therapies, especially for the treatment of cancer, complex diseases, and rare genetic disorders. CROs offer a number of gene expression analysis services, including gene expression profiling services such as NGS. This is increasing the demand for gene expression analysis services offered by CROs.
North America is expected to hold a significant share in the gene expression analysis market during the forecast period
Factors such as the development of gene therapy, focus on gene expression studies, government initiatives, and the availability of funding for NGS research are driving the growth of the market in North America.
The major vendors in the global market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Bio-Rad Laboratories, Inc. (US). Other players involved in this market are F. Hoffmann-La Roche Ltd. (Switzerland), GE Healthcare (UK), Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies Inc. (US), QIAGEN N. V. (Netherlands), Oxford Gene Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg). Market Developments
By product and services, the consumables segment is expected to grow at the highest rate during the forecast period
The increasing volume of genetic tests in drug discovery, bio-marker discovery, and pharma-co-genomics applications are driving the growth of the consumables market. The increasing installation of NGS and PCR equipment worldwide will significantly boost the demand for consumables.
By end user, pharmaceutical and biotechnology companies are expected to be the largest contributor to the gene expression analysis marketPharmaceutical and biotechnology companies utilize gene expression analysis products and services to achieve their clinical research goals, such as drug discovery and development and biotech research. Biopharmaceutical companies focus on developing targeted therapies, especially for the treatment of cancer, complex diseases, and rare genetic disorders. CROs offer a number of gene expression analysis services, including gene expression profiling services such as NGS. This is increasing the demand for gene expression analysis services offered by CROs.
North America is expected to hold a significant share in the gene expression analysis market during the forecast period
Factors such as the development of gene therapy, focus on gene expression studies, government initiatives, and the availability of funding for NGS research are driving the growth of the market in North America.
The major vendors in the global market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Bio-Rad Laboratories, Inc. (US). Other players involved in this market are F. Hoffmann-La Roche Ltd. (Switzerland), GE Healthcare (UK), Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies Inc. (US), QIAGEN N. V. (Netherlands), Oxford Gene Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg). Market Developments
- Biorad acquired of RainDance Technologies, a droplet-based PCR systems manufacturer. RainDance Technologies has a more focused portfolio, primarily known for its droplet-based technologies for digital PCR (dPCR).
- Thermo Fisher Scientific completes acquisition of Affymetrix, a leading provider of cellular and genetic analysis products.
