The global microarray market is anticipated to grow at a CAGR of around 7.8% during the forecast period.  Microarrays are one of the powerful technologies for the analysis of gene expression that can be used for various experimental purposes. The developments of microarrays have enhanced the results of genetic testing. Microarrays are used in a variety of applications, including gene discovery, disease diagnosis, drug discovery, and toxicological research. The rising incidences of cancer are the major factor contributing to the growth of the market. Moreover, increasing prevenances of various chronic diseases and the rise of usage of microarrays technology for the diagnosis of such infectious diseases are also contributing to the growth of the microarray market. On the contrary, the lack of funding for microarray development, as well as the cost of preparing microarrays, are the major restraints for this market. Moreover, increasing applications of microarrays such as forensic analysis, genotyping, evaluating somatic mutations in cancer, measuring predisposition to diseases is creating significant opportunities for the growth of the microarray market. 

Impact of COVID-19 on Global Microarray Market

The COVID-19 pandemic has erupted, and its path remains uncertain. During the first quarter of 2020, the impact of COVID-19 on the biotech market was significantly mild where funds raised by venture capital firms, mergers, and acquisitions, the pace of clinical trials and regulatory approvals did not change much. Moreover, the growth of massive efforts to develop vaccines, develop highly predictive antibody tests, deploy test kits, and development of new drugs is resulting in the positive growth of the biotech sector during and after the COVID-19 pandemic. Additionally, the COVID-19 pandemic has increased the emphasis on the development of less time-consuming diagnostic kits, as well as the increased use of microarray techniques in pharmaceutical R&D, which is expected to benefit the microarray market in the coming years. 

Segmental Outlook 

The global microarray market is segmented based on type, and application. On the basis of type, the market is segmented into DNA microarrays, protein microarray, peptide microarray, tissue microarray, and others (cellular microarray). Further based on application, the market is segregated into diagnosis & prognosis, pharmacogenomics & theragnostic, drug discovery and others. 

Global Microarray Market Share by Type, 2020 (%)

DNA Microarray projected to hold a significant share in the global Microarray market 

Among types, the DNA microarray segment is projected to have a significant share in the global microarray market. The factor contributing to the growth of the segment includes increasing applications of DNA microarrays approach in various sectors and its applications include proteomics, disease monitoring, gene expression, drug discovery, and others. This approach enables the researchers to identify and investigate the non-traceable issues and are used to detect DNA or RNA. Furthermore, the advancement of technologies in DNA microarray techniques will also be contributing to the growth of the segment. Some of the emerging technologies include glass array tends, Agilent technology, and amersham’s coating technology. Other factors such as increasing government funding, rising need for initial cancer detection, and cancer diagnosis as DNA microarrays act as a catalyst and further contributing to the segmental growth. 

Regional Outlooks

The global microarray market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have a significant share in the global microarray market due to factors that include prevailing gene-related diseases such as cancer, the presence of a well-developed genetic research sector, and increasing institutional and government funding. The US is projected to have the highest market share in the region attributed to factors such as the existence of skilled scientists in the region coupled with increasing expenditure in microarray research and development. 

Global Microarray Market Growth, by Region 2021-2027

Asia-Pacific is projected to grow significantly in the global microarray market during the forecast period

Geographically, Asia-Pacific is estimated to witness significant growth in the global Microarray market during the forecast period. The growth is attributed to an increase in funding from the government in the healthcare sector, rising awareness towards personalized and precision medicines, and increasing various genome sequencing projects in the following region. The prevalence of chronic diseases has been increased in Indonesia and increased demand for fast and accurate diagnosis can be enabled by microarrays, therefore this will further fuel the market growth in the Asia Pacific region. Some of the key players of the market in the region include Agilent Technologies Inc, F. Hoffmann-La Roche Ltd, bioMerieux S.A., Bio-Rad Laboratories Inc, among others. 

Market Players Outlook

The key players of the Microarray market include Thermo Fisher Scientific, Inc., Merck KGaA, Arrayit Corp., Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2019, SomaLogic Inc and Agilent Technologies Inc announced a partnership agreement where Agilent will be supplying customized high-fidelity oligo microarrays for detecting nucleic acid. This customized Agilent microarray that is based on SomaLogic’s specifications is used to detect and measure 5000 proteins accurately from a small volume of a biological sample. This partnership will drive biomarker discovery efforts along with novel diagnostics and accelerate pharmaceutical development. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global microarray market
• Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.