Global Gene Expression Analysis Market 2024-2031

Global Gene Expression Analysis Market 2024-2031

Global Gene Expression Analysis Market Size, Share & Trends Analysis Report By Technology (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), and Microarray), by Product (Instruments, Reagents & Consumables, and Services), By End-User (Drug Discovery and Development, Diagnostic Laboratories, and Academic Research Centers) Forecast Period (2024-2031)

Global gene expression analysis market is anticipated to grow at a considerable CAGR of 8.6% during the forecast period (2024-2031). The increasing advancements in genomic research, increasing prevalence of chronic disorders, and growing demand for gene expression analysis tools are major factors driving the global market.

Market Dynamics

Growing Focus of Researchers on Single-Cell Genomics

The growing interest of researchers in single-cell genomics is a key contributor to the market growth. As per the research published by the National Library of Medicine in March 2023, single-cell genomics is found to have numerous applications in the field of cardiovascular disorder research. It can be utilized in heart development, myocardial infarction, cardiac ischemia-reperfusion injury, atherosclerosis, atrial fibrillation, cardiac hypertrophy, and heart failure.

Increasing Demand for Personalized Medicine

The growing demand for novel drug discovery to minimize the growing incidence of cancers and other chronic disorders globally is another contributor to the industry's growth. Additionally, numerous collaborations among researchers and market players are also aiding the market growth. For instance, in February 2022, Genomic Medicine Sweden (GMS) and the Centers for Personalized Medicine (ZPM) in Germany, collaborated for strategic, structural, and content-specific efforts to implement precision medicine in healthcare.

Market Segmentation

Our in-depth analysis of the global gene expression analysis market includes the following segments by technology, product, and end-user:

Based on technology, the market is sub-segmented into Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), and microarray.

Based on product, the market is segmented into instruments, reagents & consumables, and services.

Based on end-users, the market is sub-segmented into drug discovery and development, diagnostic laboratories, and academic research centers.

NGS to Exhibit Highest CAGR During the Forecast Period

Based on the technology, the global gene expression analysis market is sub-segmented into Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), and microarray. The increasing use of NGS technology in clinical diagnosis owing to its high speed and efficiency at economic cost is a key contributor to the growth of this market segment. The increasing use of NGS technology in several applications including biomarker discovery, oncology studies, and personalized medicine is further aiding its market growth. Next-generation sequencing is used as a cancer diagnostic tool for analyzing genome sequences in cancer. The technique uses several technologies for the diagnosis of cancer, including protein microarrays, DNA microarrays, next-generation sequencing, and lab-on-a-chip & reverse transcriptase-PCR (RT-PCR), among others.

According to the Centers for Disease Control, 2021, it is projected that more than 60 million people will have their genomes sequenced by 2025 worldwide as countries have taken the initiative to sequence large populations. The existence of several initiatives of universities, academic and research institutions, and research establishments to use NGS to diagnose diseases is further aiding the market growth.

Regional Outlook

The global gene expression analysis market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

Expansion of Genome sequencing across Asia-Pacific

The growing expansion of genome sequencing owing to increasing investment in this field across Asia-Pacific is a contributor to the high growth rate of the regional market.

In June 2023, Inex Innovate entered an agreement with UK-listed Yourgene PLC to acquire 100.0% of its Taiwan genomics business Yourgene Health (Taiwan) Co., Ltd. a genomics company with sales in Hong Kong, Japan, and Taiwan.

In March 2023, Mukesh Ambani’s group of India marks its foray into genetic mapping with a $196 kit.

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the growing regional focus on clinical research. The US is home to several major biopharmaceutical companies such as Abbott Laboratories, Pfizer, Johnson & Johnson, and Novartis among others which are further contributing to the demand for gene expression analysis products. Moreover, the increasing demand for personalized medicine for companion diagnostics drives the growth of the regional market.

The major companies serving the global gene expression analysis market include Quest Diagnostics Inc., Illumina, Inc., PerkinElmer Inc., Agilent Technologies Inc., and Promega Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as increasing investment, collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2024, 10x Genomics, Inc. launched GEM-X, the next generation of the company's single-cell technology. This will support researchers to drive better, faster, and more cost-effective single-cell research and enable more academic and translational researchers to routinely rely on these tools to help resolve biology's complexity.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global gene expression analysis 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.