The microarray analysis market can grow in the coming years with 9.8% CAGR during the forecast period of 2018-2023. The global market is expected to ride on the profits provided by the pharmaceuticals sector, the healthcare industry, and various research institutes where better investments are getting included to impact the global market.
A microarray is a multiplex lab-on-a-chip with a two-dimensional array present on a solid substrate that can be used to perform tests for people showing intense interest. The process helps researchers in investigating subjects and then address the concerns accordingly. It often involves subjects that are non-traceable. The process delivers quick results with great efficiency.
A geographic study of the market for microarray analysis is covering a wide field due to its high market percolation and in the process, it is covering regions namely the America, Europe, and Asia Pacific (APAC) where the resultant revenue would be much higher than the other Middle East and Africa (MEA), a market that is riddled with poor economic regions where growth would be sluggish due to lack of infrastructure and restricted access to better technology.
The American region is showing immense possibilities as the market here is blessed with better infrastructure and high investment potential. The market can be segmented into North and South America of which the North has better market potential due to the presence of developed countries like the US and Canada. Various market players are expected to make sure that the regional market contributes the most. Europe’s growth would be significant in the coming years.
The regional features are quite similar to that of North America and it is also getting significant traction from the research and development sector where the constant drive to stay ahead in the market is providing enough opportunities for innovation. The Asia Pacific market is also benefiting from the inclusion of personalized drugs and better healthcare infrastructures due to high expenditure for the sector from both the private companies and governments.
Several companies are putting their best move forward to establish their names as great contributors to the market. In the process, they are increasing their investment and ensuring better focusing on several tracks. These companies are Discerna, NextGen Sciences PLC, Illumnia Inc., Thermo Fisher Scientific, ProteoGenix, Roche NimbleGen, Agilent Technologies Inc., Affymetrix Inc., Luminex Corporation, Biomerieux SA, Applied Microarrays, Gyros AB, Sequenom Inc., and others. MRFR made an effort in listing these companies and recording their recent contributions to ensure better market understanding of both trends and possible strategic shifts.
In August 2019, researchers at an event held in the Annual Peptide Drug Design and Delivery Summit announced that the possibility of nanotechnology in the healthcare industry is expected to make significant climb in the coming years. The global market benefit from microarray tests and is expected to penetrate the market in much detailed way. Nanotechnology would allow the movement of several particles in the body in a free manner that can inspire better market growth in the coming years. It would work better than traditional therapeutic molecules.