Microarray Market 2022-2028

Microarray Market 2022-2028

The global microarray market was valued at $4.3 billion in 2021 which is projected to reach around $7.3 billion in 2028, growing at a CAGR of 7.8% during the forecast period. Microarray technology has a wide range of applications and found its increasing use in pharmaceutical target screening, drug discovery, basic molecular biology, biomarker identification, and others. The microarray technology can facilitate the analysis of thousands of genes simultaneously which in turn, has resulted in the immense success of this technology.

Microarrays are extremely minuscule yet highly complex laboratory tools that test large quantities of biological material. Microarrays are used in various lab settings to detect the expression of multiple genes or proteins at the same time. Utilizing multiplexed parallel-processing methods, microarrays can increase throughput and produce larger amounts of data in a single experiment. While the methods and analysis techniques remain quite similar between all different types of microarrays, there are a few key differences in the purpose and applications for each microarray type.

Segmental Analysis

The global microarray market is segmented on the basis of type and application. Based on type, the market is segmented into DNA microarray, protein microarray, peptide microarray, tissue microarray, and others. Based on application, the market is segmented into diagnosis & prognosis, pharmacogenomics & theragnostic, drug discovery, and others.

DNA microarray dominated the market with 34.6% of the share and generated around $1.5 billion in 2021. This value is further projected to exceed $2.5 billion in 2028, growing at a CAGR of 8.0% during the forecast period. DNA microarrays are the most common among all the types of microarrays. DNA microarrays are used to detect mutations in a specific gene’s DNA structure, which can then diagnose diseases and genetic disorders. DNA microarrays are most commonly used by medical professionals to research and identify various gene mutations—this allows medical professionals to better understand the role gene mutations play in the diagnosis of various diseases.

In contrast to DNA microarrays where thousands of genes are profiled on a single slide for a single sample, tissue microarrays have hundreds of tissue samples arrayed on a microscope slide by a robotic system and are analyzed against a single molecular target, usually through parallel in situ detection of DNA, RNA, and protein targets in each specimen on the array. Tissue microarray has proved to be an effective and efficient tool for assessing quality assurance programs such as intra- and interlaboratory variation in immunohistochemical and molecular studies. Tissue microarray facilitates the rapid translation of molecular discoveries to clinical applications. The tissue microarray market was valued at $981 million in 2021, which is projected to exceed $1.7 billion in 2028, growing at a CAGR of 8.5% during the forecast period.

Among these, the diagnosis & prognosis segment dominated the market 44.2% of the share and generated $1.9 billion in 2021. This value is further projected to reach around $3.2 billion in 2028, exhibiting a CAGR of 7.5% during the forecast period. The use of microarray in the field of oncology is well known. Apart from this, it is used to study various cardiovascular, inflammatory, and infectious diseases, as well as psychiatric disorders. The microarray technology is widely used to know the state of disease, type of tumor, and other factors important for the patient. It is used to diagnose several diseases and infections, most notably cancer. The increasing prevalence of cancer and associated mortalities with the disease across the globe surge the demand for advanced diagnostic tools and hence drive segmental growth of the market.

Regional Analysis

Geographically, the study of the report covers the analysis of four major regions including North America (US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and the Rest of the World.

North America dominated the market with 41.8% of the share and generated around $1.8 billion in 2021, which is projected to exceed $2.9 billion in 2028, growing at a CAGR of 7.5% during the forecast period. The regional growth is attributed to the high healthcare expenditure and the presence of well-developed healthcare infrastructure. In addition, the high number of cancer cases in the region further creates demand for microarray technology for the diagnosis of disease as well as drug discovery for the development of new drugs. According to Globocan 2021, the estimated incidence of new cancer cases was 2,281,658, and the number of mortalities in the US due to cancer was 612,390 in 2021.

Market Players

Some of the major players operating in the global microarray market include Thermo Fisher Scientific, Inc., Illumina, Inc., Agilent Technologies, Inc., PerkinElmer, Inc., and Bio-Rad Laboratories, Inc. These market players offer various microarray instruments for several purposes. For instance, Thermo Fisher offers microarray-based assays that are the genome-wide approach for high-resolution DNA copy number analysis to detect gains, loss of heterozygosity (LOH)/absence of heterozygosity (AOH), and mosaicismIn. The players are adopting strategies such as partnership and new product launch to remain competitive in the market. For instance, in 2021, Agilent Technologies Inc. signed a multiyear supply agreement for custom microarrays with SomaLogic, Inc. a biotechnology company based in the US. Under the agreement, Agilent would be supplying customized oligo microarrays for usage in the detection of nucleic acid with SOMAscan assay which is SomaLogic’s protein measurement assay majorly used in clinical and basic research, pharmaceutical development and discovery, and diagnostics.