Gene Expression Analysis Market estimated at $2.6 billion in 2013 and is expected to reach $4.3 billion by 2018, growing at a CAGR of 10.4% from 2013 to 2018.
Increasing number of cancer patients, growth in the number of funding activities, technological advancements, and increased interest in gene expression for research and discovery are the major factors driving the growth of this market. Moreover, various government bodies have extended their help in the form of investments, funds, and grants, which has further stimulated the growth of the market.
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Gene expression analysis has emerged as a major advancement in the fields of drug discovery, diagnostics, and biomedical research. Since the completion of the Human Genome Project in 2003, numerous methods are being developed to improve the efficiency and effectiveness of gene expression profiling and sequencing. it is an important process, as it enables researchers to decipher the functions of genes. By sequencing genes, researchers can determine how diseases affect a cell. Genome-wide analysis can be used to accurately classify diseases. This has led to its increased use in various applications such as pharmacogenomics, diagnostics, toxicogenomics, and biomarkers.
This report broadly categorizes the global market into three segments, namely, instrumentation, consumables, and services. The large share of consumables is specifically attributed to the wide use of gene expression analysis techniques in cancer diagnostics. The increase in the number of genetic tests directly favors volume consumption of consumables. The gene expression services market is expected to grow at the highest CAGR of XX% from 2013 to 2018. This high growth can be attributed to the growing adoption of next-generation sequencing, advancements in bioinformatics tools, and the declining cost of sequencing.
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Over the years, gene expression analysis has evolved significantly and is widely used for the diagnosis and treatment of various disorders like cancer, Alzheimer’s, and Parkinson’s, among others. In the past few years, the market has witnessed significant technological advancements, as companies have introduced newer sequencing and analysis platforms. This has aided in the diagnosis and treatment of diseases. This report covers the definition, description, and forecast of the global market in terms of instrumentation, consumables, services, and applications.
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Life Technologies (U.S.), QIAGEN N.V. (Netherlands), Illumina, Inc. (U.S.), Roche Diagnostics (Switzerland), Bio-Rad Laboratories, Inc. (U.S.), Agilent Technologies (U.S.), Affymetrix, Inc. (U.S.), GE Healthcare (U.K.), Thermo Fisher Scientific (U.S.), PerkinElmer, Inc. (U.S.), Luminex Corporation (U.S.), and Oxford Gene Technology, Inc. (U.K.) are some of the prominent players in the global market.
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