The global microarray market is anticipated to grow at a CAGR of around 7.8% during the forecast period (2024-2031). The key factors to drive the microarray market growth include increasing significant advancements in personalized medicines. For instance, In April 2020, an oncology company Indivumed GmbH launched the Oncology Alliance for Individualized Medicine, it is an international collaborative alliance to advance personalized medicine in cancer using IndivuType with the company’s multi-omics database. IndivuType is a one-of-a-kind discovery and knowledge platform developed by Indivumed to generate and accelerate new insights into cancer biology, resulting in better and more affordable drug development for precision medicine and personalized cancer treatment.
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Rising acquisitions, product development, collaborations among the major players in the market also propel the growth of the market. For instance, in February 2020, the Twist Bioscience Corps launched the Twist targeted methylation sequencing a form of NGS solution to study methylation pattern changes in various research fields such as cancer research, epigenetics, non-invasive prenatal testing, and others. This launch of the NGS solution will continue to meet and exceed the company’s customers’ expectations by capitalizing on high-quality DNA that will result in more efficient sequencing and better research outcomes.
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Market Coverage
- Segment Covered-
o ByType
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Thermo Fisher Scientific, Inc., Merck KGaA, Arrayit Corp., Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd.
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 COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o 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 Microarray Market Report Segment
By Type
- DNA Microarrays
- Protein Microarray
- Peptide Microarray
- Tissue Microarray
- Others (Cellular Microarray)
By Application
- Diagnosis and Prognosis
- Pharmacogenomics and Theragnostic
- Drug Discovery
- Others
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