DNA/Gene Microarray Market to Reach US$ 7,693.0 Million globally by end of 2027, Owing to Significant Developments in Personalized Medicines – CMI -…

SEATTLE, May 13, 2020 (GLOBE NEWSWIRE) -- Traditional solid-phase array and alternative bead array are some of the types of DNA microarray. Major applications of DNA/Gene microarray include, genomics, gene expression, Single Nucleotide Polymorphism (SNP) analysis, and proteomics.

The global DNA/gene microarray market is estimated to account for US$ 3,018.3 Mn in terms of value in 2020 and is expected to reach US$ 7,693.0 Mn by the end of 2027.

Global DNA/Gene Microarray Market: Drivers

Significant developments in personalized medicines is expected to fuel growth of the global DNA/gene microarray market over the forecast period. For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the companys multi-omics database.

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Global DNA/Gene Microarray Market: Opportunities

Increasing investment in DNA sequencing is expected to offer lucrative growth opportunities for players in the market. For instance, in January 2020, Element Biosciences, a biotechnology startup, raised US$ 80 million to develop DNA sequencing platform.

Global DNA/Gene Microarray Market: Restraints

Presence of alternative technologies is expected to hamper growth of the global DNA/gene microarray market. Protein chip and lab-on-chip, glycomic arrays, tissue arrays, and cell arrays are some of the alternatives to DNA/gene microarray.

Key Takeaways:

The global DNA/gene microarray market was valued at US$ 2,640.7 Mn in 2019 and is forecast to reach a value of US$ 7,693.0 Mn by 2027 at a CAGR of 12.4% between 2020 and 2027. The market is expected to witness significant growth owing to increasing technological advancement in microarray technology, and increasing demand for genetic testing.

Gene expression and SNP analysis segment held dominant position in the global DNA/gene microarray market in 2019, accounting for 25.6% share in terms of value, followed by oncology and drug development, respectively. Increasing drug development, and demand for personalized medicine is expected to support growth of the segment over the forecast period.

North America held dominant position in the global DNA/gene microarray market in 2019, accounting for 34.1% share in terms of value, followed by Europe and Asia Pacific, respectively. North America has presence of leading manufacturers, and wide number of research institutes which make use of these products. These factors are expected to support growth of the market over the forecast period.

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Market Trends

The market is witnessing launch of new genetic tests. For instance, in July 2019, MyHeritage, an online genealogy platform with web, mobile, and software products and services, launched new Health+Ancestry test, a health-related genetic test.

The market is also witnessing increasing adoption of nanoarrays, owing to their various advantages in terms of sensitivity, specificity, speed, portability, throughput, and cost. Nanoarrays find application in drug discovery and disease diagnosis.

Global DNA/Gene Microarray Market: Competitive Landscape

Major players operating in the global DNA/gene microarray market include, Affymetrix, Inc., Illumina, Inc., Agilent Technologies Inc., Roche NimbleGen Inc., Sequenom, Inc., Biometrix Technology Inc., LC Sciences, Life Technologies Corp., Lifegen Technologies LLC, Microarrays Inc.

Global DNA/Gene Microarray Market: Key Developments

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in February 2020, Twist Bioscience Corporation launched the Twist Targeted Methylation Sequencing Solution to study methylation pattern changes in a wide range of research fields including cancer

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Oncology Pharma, Inc. signed a Letter of Intent to acquire at least a 50% stake in Diagnomics, Inc., a private CLIA certified & CAP accredited private molecular Genomics lab and provider of DNA microarrays, Next Generation Sequencing, and real-time PCR solutions

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Segmentation

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DNA/Gene Microarray Market to Reach US$ 7,693.0 Million globally by end of 2027, Owing to Significant Developments in Personalized Medicines - CMI -...