The global gene expression analysis service market is anticipated to grow at a considerable CAGR of 7.6% during the forecast period (2022-2028). Gene expression analysis service is a process that is simply defined as the study of how the genes are transcribed to synthesize functional gene products. The major factor attributing to the growth of the global gene expression analysis service market includes the growth in the research & development activities in the field of pharmaceutical & biotechnology. According to the Global Innovation Index 2020 report published by the World Intellectual Property Organization (WIPO), the 4 major sectors holding the largest share in research & development activities include ICT hardware & equipment, pharmaceutical & biotechnology, automobiles, and software. Among these, the research & development spending in the pharmaceutical & biotechnology sector is estimated to hold 18.8% of total research & development spending. Thus, increasing the use of gene expression analysis services.
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The application of gene expression analysis services is also increasing in the diagnostics of various health conditions. According to the National Center for biotechnology information (NCBI), the estimated worth of the global diagnostic industry is around $40 billion to $45 billion in 2016. Among these, the major countries with the large size of the diagnostic industry are the US, Europe, and Japan with around $19 billion, $14 billion, and $4 billion respectively representing around 80% of global sales in the diagnostic industry.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, OraSure Tehcnologies Inc. launched a new service that will provide metatranscriptomic sequencing and analysis of gut microbiome samples by its diversigen subsidiary. Metatranscriptomic sequencing service will provide benefit to biotechnology companies by generating a microbial community’s gene expression profile and providing a holistic picture of the sample’s microbial functions and expression levels by giving information about the interaction of individuals and their microbiome.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Thermo Fisher Scientific Inc., Illumina Inc., Agilent Technoplogies Inc., PerkinElmer Inc., and Bio-Rad Laboratories Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Gene Expression Analysis Service Market Report by Segment
By Product Type
- Gene Expression Profilling
- Bioinformatics Solutions
By Application
- Diagnostics
- Drug Research & Development
- Others
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